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Fiat India has posted sales growth of 78% in February 2010. The company sold a total of 2 , 335 units in the month compared to 1 , 309 units sold in the same period last year.
Fiat India's cumulative sales for the fiscal stands at 23 , 551 units of cars , against 6 , 897 cars sold last year. It is a sales growth of 241% for the company.
India's leading car maker Maruti Suzuki has posted record sales of 96 , 650 units in February 2010 , a growth of 22.05%. According to the company , it is their highest ever monthly sales. The company had sold 79 , 190 units in the same period last year.
Maruti's domestic sales were at 84 , 765 units , a growth of 20.02%. The company exported 11 , 885 units in February 2010 , a jump of 38.76%. The company saw sales of its A2 segment cars grow by 19.97% at 60 , 380 units , while A3 segment car sales grew by 27.49% to 10 , 254 units.
Auto companies are having great time these days. Car sales hit record figures in February 2010. According to experts it may also be due to consumers expecting withdrawal of stimulus package and raising of car prices.
According to data released by the Society of Indian Automobile Manufacturers (SIAM) , monthly sales in February has crossed 1.5 lakh for the first time. It is 33% year-on-year growth. The leading car maker Maruti Suzuki has recorded its highest ever monthly sales of 96 , 650 units in February 2010. This is a growth of 22.05% compared to sales of 79 , 190 units in the same period last year.
Hyundai Motor India has posted 46.1% jump in its domestic sales at 31 , 001 units in February 2010. The total sales of the company stood at 54 , 617 units compared to 38 , 235 units in the same month last year , a growth of 42.8%.
“The sales continue on a strong pitch as we have seen a lot of pre-ponement of buying because of the anticipated rise in excise duty in the Union budget during the last two months. The 2% hike in excise duty which was subsequently levied might result a correction in demand in the short run , ” said Arvind Saxena , Director - Marketing and Sales , Hyundai Motor India.
Auto maker TVS Motor has signed a memorandum of understanding with State Bank of India (SBI) for inventory funding of dealers of the auto firm. After the agreement , SBI will fund around 600 TVS dealers of TVS Motor and will help in increasing their working capital.
"This association with SBI is in line with our overall strategic business plan towards strengthening the working capital of our dealers. Their access to such funds at attractive interest rates will help them in growing their dealership and offer better retail services to the customer , " said H S Goindi , President (Marketing) , TVS Motor.