Car Sales Rise in a Slow Pace

Bangalore: Most car companies have managed to generate good sales despite of an increase in central tax and soaring fuel price, except the few who couldn’t achieve their target.

Companies like Hyundai, Mahindra, Honda, Maruti Suzuki and Toyota experienced better sales. Hyundai Motors’ estimated a growth of 4.9 percent in April which is includes exports of 52,057 units that were sold this year.

Arvind Saxena, Director, Marketing and Sales, Hyundai Motor India Limited, said "Consumer confidence continues to be weak, prices went up following the excise hike in the Union budget and interest rates are yet to come down.” He further added, “Given the present conditions it's a challenging market.”

Company's domestic sales increased by 10.9 percent at 35,070 units from 31,636 units sold in the April, 2011. Exports, however, came down 4.3 percent at 19,536 units from 20,421 units shipped out during the same month of last year.