(The Hindu Business Line 2nd May 2008) April has brought cheer to car makers and two wheeler makers alike. An uptrend is visible in the car market while the slumping two-wheeler sector has witnessed a turnaround. The duty cut in the Budget seems to have worked in favour of automobile companies. However, it remains to be seen whether the companies will be able to retain the growth momentum in the face of cost pressure and credit tightening measures. The country’s top car maker Maruti Suzuki registered a 24 per cent growth in unit sales while the second largest car maker Hyundai Motors’ sales grew by 48 per cent in April. Car makers GM and Skoda – whose market share in India is smaller – showed 24 per cent and 81 per cent growth, respectively. Maruti Suzuki India, in a press release issued on Wednesday, said it sold 62,336 vehicles in April against 50,352 in the same period last year. This includes 2,797 units the company had exported. The increase in volumes is mainly on account of the ...
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