Despite the rising fuel prices and interest rates apart, the automobile industry in India seemed to somehow manage to put up positive numbers. According to Society of Indian Automobile Manufacturers (SIAM) stated that the cumulative production data for April-July 2011 shows production growth of 16.78 percent over same period last year. In July 2011 as compared to July 2010, production grew at 13.01 percent.
At the domestic sales level, the growth rate recorded for April-July 2011 was 13.55 percent. However, the month of July 2011 registered a lower growth rate of 8.99 percent on month to month basis. Passenger vehicles segment grew at 4.03 percent during April-July 2011 over same period last year. Passenger cars grew by 1.12 percent, utility vehicles grew by 7.84 percent and vans grew by 25.42 percent in this period. In the month of July 2011, sale of passenger cars decreased by (-) 15.76 percent, utility vehicles and vans recorded growth of 16.33 percent and 16.12 percent respectively. And growth in overall passenger vehicles declined by (-) 8.95 percent in the month of July 2011. Vcommindia News
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