Monday, June 13, 2011
By Pranjal Gera
Car sales increased by only 7% in may
The stunted growth of car sales by only 7% could be ascertained to many reasons like ever inflating fuel prices, the loan rates soaring new levels each day and not to mention the low demands by the beloved customers..!!
These types of shocking sales figures are due to arbitrary rate increments by Reserve Bank of India to check the growing inflation rates but in a way these rates are hampering economic growth.
The Society of Indian Automobile Manufacturers (SIAM) publishes figures which prove the diminished growth by only 7% this May in comparison to 30% rise in deliveries figuring 1.48 lakh within the last year. But no silver lining could be seen in the near future.
Suganto Sen, senior director at Society of Indian Automobile Manufacturers informed press about the difficulty to acquire Financial Year 2012 targets; however he was confident for the rise in sales after a drought of upcoming two to three months.