Record Car Sales in July for India Automakers
MUMBAI (NewsRise) — Car sales in India grew 9.62% in July, its fastest growth in seven months, as hatchbacks from Suzuki Motor’s local unit and Hyundai Motor spurred demand.
According to data from industry group Society of Indian Automobile Manufacturers, or SIAM, car sales last month rose to 177,604 units from 162,022 units a year earlier. Deliveries of utility vehicles surged about 42% to 64,105 units amid demand for new models from Mahindra & Mahindra and rivals.
Sales of small trucks, or light commercial vehicles, grew 6.3% in July, while demand for big trucks declined 7.6%.
Even as the sales of utility vehicles sustained strong growth, analysts are flagging concerns of a slowdown in demand as authorities step up efforts to introduce a slew of measures to curb pollution.
In December, India’s top court temporarily banned the registrations of SUVs and private cars with diesel engine capacity of 2 liters or more in the national capital as part of efforts to clean up the toxic smog. That, along with a tax levy of up to 4% on new passenger vehicles perils the segment’s growth going forward.