India’s auto sales peak on festive demand: industry

Bystanders take a closer look at Tata Nano cars, billed as the 'world's cheapest car', taking part in a road tour in Amritsar on June 9, 2010. – AFP Photo

NEW DELHI: Car sales hit a record monthly high in October, industry data showed Wednesday, as festive demand, the launch of new models and cheap loans saw consumers flocking to showrooms.
Sales jumped 38 per cent to 182,992 units in October from 132,615 a year earlier, according to data from the Society of Indian Automobile Manufacturers (SIAM).

Truck and bus sales — seen as a crucial indicator of economic growth — rose 18 per cent to 50,835 units.
"October demand was good due to the festive season. The basic fundamentals of the industry remain strong," SIAM Director General Vishnu Mathur told reporters in New Delhi.