Updated Trends: Indian Automobile Industry Record Jump In Sales
India made a record sales in the automobile market by selling 12,37,461 cars and bikes for the month of July this year. The last time India had a record sales was in the month of March. The Society of Indian Automobile Manufacturers has stated that there has been record jump of 31.5% compared to July last year.
The SIAM stated that the main reason behind the boost in sales in the month of July is that there has been consistent launching of new models in the month of July and also that the modes of finance were available in plenty and were also favorable to the customers.
Both the two wheeler and the four wheeler industry has been launching new models in July and the month before that, as a reason there is a strong boost in the car and bike market. Car makers like Maruti had a jump in sales by 26.83%, Hyundai jumped by 24.22% and Tata had an incredible raise by 69.31%.