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11 January, 2012 Car sales in India rose an annual 8.5 percent in December; an industry body said on Tuesday, the second consecutive monthly rise as the industry continued to rebound from record falls in sales in late 2011.
Demand for cars in India, the world’s second-fastest growing auto market after China, shrank in July for the first time in nearly three years. Sales continued to fall for three consecutive months due to high interest rates and rising costs.
Indian automakers sold 159,325 cars last month, according to data released by the Society of Indian Automobile Manufacturers (SIAM). Total sales for the calendar year rose an annual 4.2 percent to 1.95 million vehicles, SIAM said.
Sales of trucks and buses, a key pointer to the country’s economic activity, rose 14.5 percent in December from a year previous to 72,192 vehicles, SIAM said.

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29 December, 2011 The Indian automotive industry is set to hike prices by 2-10 per cent in the first quarter of the next financial year following rise in input costs and fall in rupee, a study by industry body Associated Chambers of Commerce and Industry of India said on Wednesday.
Assocham interacted with 50 auto experts including former chairmen of various leading automobile manufacturers, dealers, auto parts traders and analysts. The survey was conducted in Ahmedabad, Bangalore, Delhi, Mumbai and Pune.
Rising interest rates, steep increase in input costs, unregulated price hike of raw material, sudden depreciation of rupee and labor pangs have affected the industry, said DS Rawat, secretary general of Assocham that released the report 'Indian Auto Industry: The Year Ahead'. Respondents opined that the industry is likely to reel under costs pressure unless the situation improves globally. More than 50% of those who took part in the survey said, profit margins of the industry might shrink further amid negative consumer sentiments due to soaring fuel prices and inflation.
Ten respondents were optimistic of the automobile industry growth on the back of sound fundamentals of Indian economy and hoped for improved industrial growth in the months to come. Those interviewed expressed shock over the sudden decline in India's industrial production.

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By: David Isaiah, Wednesday, November 09, 2011, AutomotiveWorld.com

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