Domestic car sales grew by 15.37% in August

In the past nine-month the Indian auto industry witnessed a streak of decline, now after such long slum, the domestic passenger car sales grew by 15.37 per cent in August 2013. The automotive companies sold a total of 133,486 units in August as compared to 115,705 units in the same month last year. Society of Indian Automobile Manufacturers (SIAM), however, played down the feat saying the growth was mainly due to low base effect as a result of the month-long lockout last year at the country's largest car maker Maruti Suzuki India's Manesar plant.

"This (growth) is not a reflection of the market conditions. This is mainly due to Maruti’s numbers compared with last year. Tough market conditions still remain. Interest rates are high, fuel prices continue to be high, while sentiments are extremely low,” Siam deputy director general Sugato Sen told reporters.