Auto makers in India seeing pace in sales near April 2012
Optimum Growth in Indian Auto Market, car makes expecting a renewal in the continuously slowing down sales by the month of april 12. Some Auto companies also looking for improvement in passenger car market, some says market shows the signs of recovery in coming months.
Car makers expecting the sales in October, Festive season for recover the car sales, but car makers came as a real surprise in festive season. Sales fall upto 23.8% in October 2011, earlier biggest fall registered in December 2010.
SIAM has decreased its growth forecasts to 2 to 4 % for the current fiscal, as compared to earlier projection of 16 to 18 %. The high interest rates on car loan coupled with continuously rising petrol prices have proved a major factor in the growth.
Passenger car sales are substantially down visibly due to high fuel price and rising car loan interest rate. The trend is likely to continue if the macro-economic conditions of the country do not change.
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