Slow Start For Car Sales In 2015, Excise Hike Hits Demand In January

However, Tata Motors, riding on its new models Bolt and Zest, reported a growth of 18.89 per cent in its domestic passenger vehicles sales in January in the domestic market at 13,047 units, up from 10,974 units in the same month last year.

Honda Cars India Ltd (HCIL) also reported 16.65 per cent increase in domestic sales at 18,331 units in January 2015 as against 15,714 units in the corresponding month last year.

On the other hand, Ford India reported a marginal decline in domestic sales in January at 6,647 units as against 6,706 units in the same month of last year.

Commenting on the sales performance, Ford India Vice President Anurag Mehrotra said: “The rollback of excise duty concessions has further contributed to the prevailing low consumer sentiment.”

He said while the auto industry welcomed RBI’s recent move to reduce interest rates, a lot more needs to be done to restore the sector on a growth trajectory.

“We hope that the government will continue its pro-consumer, industry-friendly reform policy and introduce measures to boost demand in the upcoming budget,” Mehrotra said.

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