Car makers report record sales in January

By | February 3, 2010

With the dawn of new year, leading car makers like Suzuki, Hyundai Motors, Tata Motors, Mahindra & Mahindra, General Motors and also Fiat have recorded their highest monthly sales since their commencement. Sale of different types of cars went up by 33% to 175,526 units in January as compared to 131,636 units sold in January last year.

At the top of the charts was Maruti Suzuki, which reported a 21% hike despite a price rise, mainly due to its just introduced Eeco and persistent demand for its other cars. It is for the 2nd consecutive month that the company has registered record sale and expects the performance to continue.

But the analysts are not so sure as the car loans till date have been low, which fuelled the growth. They expect the rates to increase further, thus leading to a drop in sales.

Another car maker, Hyundai Motors, also recorded strong sales in January, with its conventional models leading the demand. The company predicts the strong performance would continue due to the stimulus package given by the government.

Other manufacturers reporting the strong sales include Mahindra & Mahindra, Tata Motors, and General Motors. They also expect the demand to continue.

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