New Delhi, Apr 8 (PTI) The Indian auto industry, which was heading towards negative growth territory, managed to stay in the positive zone in the fiscal ended March 31, thanks to the government's stimulus packages, recording a 0.71 per cent increase in total vehicle sales.
With a late surge in the last quarter of the fiscal, total vehicle sales in the country stood at 97,23,391 units compared with 96,54,435 units in the last financial year, according to the figures released by the Society of Indian Automobile Manufacturers (SIAM) today.
"Had it not been for the stimulus packages, passenger vehicle sales would have been down three per cent or no growth, while commercial vehicles would have had a decline of 30-40 per cent," SIAM Director General Dilip Chenoy said.
The two-wheeler segment would also have registered a decline of three per cent or zero growth, he said, while forecasting a single digit growth for the three major segments in the ongoing fiscal.
In the financial year 2008-09, the domestic passenger car sales rose by 1.31 per cent to 12,19,473 units from 12,03,733 units in the April-March period of the earlier fiscal.
PTI
With a late surge in the last quarter of the fiscal, total vehicle sales in the country stood at 97,23,391 units compared with 96,54,435 units in the last financial year, according to the figures released by the Society of Indian Automobile Manufacturers (SIAM) today.
"Had it not been for the stimulus packages, passenger vehicle sales would have been down three per cent or no growth, while commercial vehicles would have had a decline of 30-40 per cent," SIAM Director General Dilip Chenoy said.
The two-wheeler segment would also have registered a decline of three per cent or zero growth, he said, while forecasting a single digit growth for the three major segments in the ongoing fiscal.
In the financial year 2008-09, the domestic passenger car sales rose by 1.31 per cent to 12,19,473 units from 12,03,733 units in the April-March period of the earlier fiscal.
PTI
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