NEW DELHI Newsecoinfo Reported - Indian Automobile Manufacturers' Association of India said that soaring commodity prices and strong monetary policy to curb inflation may cause the growth of car production will slow slightly in the range of 16-18 percent this year.
Car sales in India by 2010 had jumped by 30 percent. This is the most biggest increase since a decade ago, however with the rising cost of raw materials can lead to too slow growth of car production in the future.
"We have ended 2010 yesterday with a high achievement, because we have a strong foundation," said President of Indian Automobile Manufacturers' Association (SIAM), Pawan Goenka, As reported by AFP from the site on Saturday (09/04/2011).
As information after China, India is a country which has the second fastest growth in the automotive market.
Car sales grew to 1.98 million units as of March 2011 from the achievement of last year which only reached USD1, 53 million units driven by cheap credit and will launch the latest car models.
"Until this March, car sales in India, Asia ranks third with an increase of 23.47 percent to 194,199 units from the same month the previous year," said Pawan.
Pawan further adding to March 2011, the percentage gain in car sales in India reached the highest figure since 2000 when keuntunggannya of reaching up to 60 percent.
The most popular car is the Maruti Suzuki Japanese products, which rose 26.24 percent to 966,447 units in 2010. For Motor Sales, achieved by Hyundai of South Korea which rose by 13.95 percent to 358,904 units.
In the meantime, if viewed from the side of commercial vehicle sales, refers to an important barometer for economic health, an increase of 15.35 per cent to 77,688 units from last year. In addition, total sales of motor vehicles grew by 19.42 percent in March, 1,465,909 units of the same month the previous year. (Newsecoinfo)
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