Car sales hit in May as fuel price hike takes a toll

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Hit by spikes in fuel prices and interest rates, car sales in the domestic market slowed down considerably in May with auto makers stating that the industry is in for a tough summer.

While market leader Maruti Suzuki India (MSI) reported a growth of only 3.9 per cent in sales in the domestic market, rival Hyundai Motor India Ltd (HMIL) posted a 14.62 per cent increase. Tata Motors' domestic passenger vehicle sales during the month fell by 9 per cent.

MSI sold 93,519 units in May this year as against 90,041 units in the same month last year, while HMIL sold 31,123 units as compared to 27,151 units last year. Tata Motors' passenger vehicle sales in May stood at 19,401 units, down from 21,324 units in the same month last year.


[Source:PTI]

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