Auto sales rise 31 percent in 2010, will continue at 15 percent or better in 2011

Auto sales rise 31 percent in 2010, will continue at 15 percent or better in 2011

The Society of Indian Automobile Manufacturers (SIAM) reported that 2010 sales climbed to 1.87 million cars from 1.43 million in 2009, a breathtaking increasing of 31 percent. Car sales are projected to  rise  to 3 million units a year by 2016, according to SIAM.

Growth will not be as high as 30% that we saw last year. If we see a growth rate of 15%-18%, we should be happy,” said SIAM president Pawan Goenka.  Dr. Goenka is a former General Motors designer who leads Mahindra and Mahindra’s automotive  business and was featured in my book, Doing Business in 21st Century India.

Last year, auto companies launched over a dozen new product families, led by Mercedez-Benz which introduced 18  variants, while Toyota launched the entry level Etios. Ford, GM, and others did not stay quiet either. In December 2010 alone the country’s largest carmaker, Maruti Suzuki India, posted sales of 75,652 units, up 20 per cent from 62,653 units same month last year.  Hyundai Motor India had sold 26,066 units, up 17 per cent from December 2009 while Tata Motors’ sales increased by 30 per cent to 16,941 units.

In terms of annual sales, Ford India Pvt. Ltd. nearly tripled its numbers  to 83,887 vehicles last year, while General Motors said its sales rose 59% to 110,804 vehiclesand Toyota Kirloskar Motor reported a 38% increase to 74,759 units.  Total two-wheeler sales in December 2010 increased by 31 per cent to 10,06,545 units from 7,67,789 units in the same period of previous year. Motorcycle sales in the country during the month grew by motorcycle sales in the country during December 2010 grew by 27 per cent to 7,53,358 units from 5,92,589 units in the same month previous year.

Automotive sales are driving quality and capability higher in India’s entire supply chain. Social change is also being accelerated by the increased mobility and independence.  The transformation that the USA saw from 1910 to 1960 is being compressed into a 10 year time frame in this part of the world. And huge opportunities exist for foreign companies wanting to service the resulting ecosystem, from motels, to highway construction equipment, to manufacturing training, and much more.


About Amritt

Who We Are

Small or big, your business will love our financial help and business consultations! We are happy when our clients are too… Actually, this is quite simple to achieve – because each time we help them in sorting out different accounting intricacies or save the day before filing the taxes, they are happy indeed! And so are we.   

We have over Twenty years of experience helping our clients succeed in India

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
India Business Guide
White Papers
Case Studies
Companies In India