The total car sales in India have grown by an impressive annual 19.7 percent in March, while the volume grew only 2.2 percent in the fiscal year till March 31, 2012.
Auto makers in the country sold 229,866 cars in the month while the figure for the while fiscal year stood at 2.02 million cars, according to a new report released by the Society of Indian Automobile Manufacturers (SIAM) on Tuesday.
The report also showed that the sales of trucks and buses grew by 14.8 percent in March and an overall 18.2 percent in the fiscal year. The sales of motorcycles rose 1.2 percent in March and 12 percent in 2011-12.
The total car sales in the country are expected to grow between 10 and 12 percent in the fiscal year till March 2013, according to SIAM. The growth in sales was only 2.2 percent in the fiscal year till March 31 due to low demand in the first half of the fiscal year.
Even with the increased taxes announced in the Union Budget, the auto industry expects growth to return to the sector as consumers get ready to buy new vehicles.
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