By Santanu Choudhury
NEW DELHI--Car makers in India continued their sales growth
momentum into the new year, as a recovering Indian economy, lower
fuel prices and new model launches helped draw more customers to
showrooms.
Maruti Suzuki India Ltd., the country's largest car maker,
posted 9.3% growth in local sales in January from a year earlier to
105,559 vehicles.
Local sales at the Indian arm of Hyundai Motor Co. rose 4.1% to
34,780 cars, while Toyota Motor Corp.'s sales in India climbed 16%
to 12,650 vehicles. Tata Motors Ltd. posted a 5% increase in sales
of its Tata-brand of vehicles to 38,621 cars and trucks. Honda
Motor Co.'s local unit recorded a 17% growth in local sales to
18,331 vehicles.
The central bank of India lowered its key interest rate in
January--the first rate cut in nearly two years--a move companies
expect will encourage more customers to buy new cars.
Some companies, however, said January sales were hurt after the
government began charging higher excise taxes on cars again. It had
temporarily lowered excise taxes until the end of last year, in
hopes of helping demand.
Mahindra & Mahindra Ltd. saw sales fall in January. Sales of
its passenger vehicles declined 5% on-year to 18,804 units. General
Motors Co.'s Indian arm saw a 16% drop in sales to 4,667
vehicles.
Write to Santanu Choudhury at santanu.choudhury@wsj.com
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