Indian automobile sector has witnessed growth

According to the latest reports released by PINC Research the Indian automobile sector has witnessed considerable growth in the sector. "While domestic 2-wheelers sales improved, exports were weak with decline in volumes. Domestic passenger cars sales were boosted by the discounts and offers on the products.

Exports were healthy with Maruti and Hyundai growing their penetration in the European market. Medium and heavy commercial vehicles (MHCV) segment continues to be in a declining phase though there is sharp improvement sequentially.", said a note of PINC Research.

Although Bajaj posted decline in their sales figures, Honda Motorcycles & Scooters India (HMSI) and Yamaha have shown a strong growth in the motorcycle segment. Passenger cars and utility vehicles posted higher sales due to election times.(CTI)

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