New Delhi, 08 May 2008: The automobile industry has got its momentum back with April's overall vehicle sales rising by 9.83%, thanks to reduced excise duty in the 2008-09 Budget.
According to figures released by the Society of Indian Automobile Manufacturers (SIAM), the domestic passenger car sales managed a growth of 17.15% in April.
Total domestic vehicles sale in April stood at 8,06,238 units, against 7,34,103 units in the same month last year.
The Union Budget 2008-09 proposed a reduction in excise duty on small cars to 12% from 16% and a similar cut on two and three wheelers, buses and chassis.
The passenger car segment clocked a sale of 98,740 units during the month, against 84,283 units in the same month a year ago, SIAM said.
Segment leader Maruti Suzuki India registered an increase of 22.30% at 51,766 units, against 42,326 units in the same month in 2007.
Rival Hyundai Motors sold 21,492 units during the month, against 15,697 units last year, up 36.92%.
Tata Motors, however, recorded a decline of 17.10% at 11,193 units, against 13,502 units in the same month previous year.
General Motors India had a 21.65% jump in its sales with its hatchback 'Spark' continuing a good run. The company's overall sales stood at 3,411 units, compared to 2,804 units last year.
On the motorcycles front, the industry witnessed a reasonably good growth in April with the segment registering a jump of 8.31% at 5,01,592 units, against 4,63,091 units during the year-ago month, SIAM said.