The automobile industry has started 2011 on a well note, with sales of 10 leading car manufacturers rising by approximately 14 per cent to 245,664 units, owing to burly demand in the domestic market. A total of 216,002 units were sold in the year-ago period.
Exports, however, remained a concern for both Maruti Suzuki India Limited (MSIL)and Hyundai Motor India Limited (HMIL), who jointly account for nearly 65 per cent of sales in the Indian market.
MSIL, which accounts for almost one of every two cars sold in the country, posted sales of 109,743 units, a 14.7 per cent rise. While the company's domestic sales grew by 23.8 per cent to 100,422 units, exports dropped to the lowest in the previous three months at 9,321 units. MSIL is the first in the country to cross the 1-million sales mark in the first three quarters of the economic year. MSIL had recorded sales of 1037,408 units in April-December, 2010.