AUTOMAKERS in India have reported better-than-expected sales in the month of October, with a slew of new vehicle models also set to be launched in the upcoming festive season.
India's largest passenger carmaker Maruti Suzuki, recovering from riots at one of its plants, posted a smart 85.5 per cent year-on-year rise in October sales.
Its rivals also showed improved sales, despite hefty taxes, elevated fuel prices and stubborn inflation that has kept interest rates high, pushing up the cost of auto loans.
Maruti Suzuki India, majority-owned by Japan's Suzuki Motor Corp, said car sales in October soared to 103,108 vehicles due to a low base effect from last year, when sales were down due to protracted labour troubles.
It was hit again by labour unrest in July - the worst ever in its three-decade history - that left a manager dead and nearly 100 other executives injured at its Manesar plant, which is responsible for 40 per cent of its output.
The local unit of Hyundai Motor showed a 21 per cent rise in total sales to 58,785 vehicles in October.
Ford India sales edged up 5.35 per cent to 10,948 vehicles in October, while Honda reported a 46 per cent rise in sales, led by Honda City and Brio models.
Tata Motors, which owns British luxury brands Jaguar and Land Rover, said its October car sales rose six per cent to 71,771 vehicles, with growth seen across all segments.
India, which has been one of the world's fastest-growing car markets in recent years, has been suffering a slowdown in demand as some buyers defer purchases due to expensive loans and high fuel costs.
Many new models will be launched in the country in the coming weeks, with the Diwali festival on November 13 seen as an auspicious time for major purchases.
The Society of Indian Automobile Manufacturers had predicted sales growth of between one and three per cent in October, down from an earlier 10-to-12 per cent projection.
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