Car sales stay in skid row in March - Daily News & Analysis

The last month of the financial year 2013 continued to remain sluggish for most auto makers as buyers postponed purchases on account of higher interest rates and rising fuel prices. Sales of Hyundai Motor India, the second-largest car manufacturer, declined 13.5% in March this year compared with the same period last year. Rakesh Srivastava, VP, sales and marketing, Hyundai Motor India, said, "The slowdown of economy is impacting vehicle sales. Against a large base of last year there was a sharp drop in conversion of enquiries. We foresee the pressure on volumes to continue till there is significant improvement in macro-economic factors." For Mahindra and Mahindra (M&M), the passenger vehicle sales grew 13% year on year last month as it sold 25,847 units. The company passed on the additional 3% excise duty hike announced on sports utility vehicles in the Union Budget.   Toyota Kirloskar Motor (TKM) managed to marginally grow 7% in the domestic market as it sold 19,452 units this year compared with 18,220 units a year ago. Tata Motors passenger vehicle division continues to struggle as sales dropped 67% last month. It sold 12,347 units during the month compared to 36,984 units in March last year. @Yugac via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNHT3Sohr6ZAx4fm3z-nRj_KpkNU1Q&url=http://www.dnaindia.com/money/1817976/report-car-sales-stay-in-skid-row-in-march

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