February 9, 2011 1:18 PM

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Domestic car sales hit monthly high in January

Domestic car sales hit a new monthly high in January. However, the overall growth rate of vehicles sold in the country moderated to 18.69 per cent at nearly 13 lakh 23 thousand units during the period. The figures released by the Society of Indian Automobile Manufacturers (SIAM) today say, total vehicles sold in the country in January last year were over 11 lakh units. Domestic passenger car sales jumped by 26.28 per cent to one lakh eighty four thousand units in January 2011. It was one lakh 46 thousand units in the same month last year. SIAM Senior Director Sugato Sen told reporters in New Delhi that the trend of growth moderation is increasingly becoming visible now. He said the highest growth rate of overall sales this fiscal was seen in October at 45 per cent. Sen said, adding high interest rates, lack of liquidity in the market and high commodity prices posed challenges for the industry. The SIAM data says, scooters segment grew by 29.57 per cent to 1 lakh eighty thousand units during January.

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