India's car sales decline in February

India’s car sales decline in February

Indian passenger car sales fell 4.23% year-on-year to 62'072 units in February 2005 due to anticipated excise duty cuts in the near future, said the Society of Indian Automobile Manufacturers (SIAM). However, passenger car sales in the first eleven months of the current fiscal year (April-February 2004/05) rose 17.67% to 730'425 units. Motorcycle sales saw 16.89% growth to 425'077 units last month against sales of 363'655 units in February 2004. Domestic sales of the country's largest car manufacturer, Maruti Udyog, declined 1.69% to 33'505 units in February. Sales of Hyundai Motor India also fall 17.63% year-on-year to 9'518 units in February. While sales of most carmakers saw a decline last month, Tata Motors improved its performance. The company sold 12'671 units in February 2005 compared to 9’757 units in February 2004.