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Modi Government Sets Stage for India as World's Third Largest Economy
Car sales in March dive as slowdown sets in
Tata Motors said that the sale of passenger vehicles for March 2013 were at 12,347 nos. Sales of the Nano/ Indica/ Indigo range in March 2013 were 8,903 nos. The company had sold as many as 37,000 passenger cars in the corresponding period of last year.
Hyundai Motor India Ltd (HMIL) reported a decline of 13.46 per cent in domestic sales at 33,858 units, compared to 39,122 units in the year-ago period.
India's largest car manufacturer Maruti Suzuki will declare sales today and it's unlikely that the company will report a growth in vehicle sales.
Meanwhile, Tata Motors reported a cumulative sales of commercial vehicles in the domestic market for the fiscal at 537,143 nos. Cumulative LCV sales were 393,762 nos., while M&HCV sales stood at 143,381 nos.
During this year, 7 new advanced commercial vehicles - Tata Xenon Pick-up, a stylish and rugged workhorse, the Tata LPT 3723, the first 5-axle rigid truck in the country, in the 10x4 configuration, the Tata PRIMA 4938 tractor, the Tata PRIMA 3138K tipper, the Tata PRIMA 4923 & Tata PRIMA 4023 tractor and the Tata LPK 3118 tipper were launched.
The company introduced the Telematics & Fleet Management Service, which offers advanced Telematics solutions, which enable remote vehicle tracking services of fleet vehicles, thereby increasing productivity and profitability. The 'Tata Alert', a highway assistance programme for medium and heavy commercial vehicles, was also introduced, to ensure that drivers receive on-site breakdown assistance within 4 hours.
It's unlikely that passenger car sales is likely to pick up anytime soon, given the slowdown in the economy. A cut in the interest rates may also not provide any major impetus to sagging sales of passenger cars.
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