SIAM reports recovery in car sales in February

May 1, 2009

February proved to be a good month for carmakers, as sales figures showed an encouraging increase. Year-on-year passenger car sales figures in India increased for the first time after a consistent drop since September 2008, said a report by the Society of Indian Automobile Manufacturers (SIAM). While a few carmakers such as General Motors Corp., Mahindra Renault, Skoda Auto and Toyota Motor Corp., as well as truck maker Eicher Goodearth Ltd. saw their sales dip, majority of producers in India posted a healthy increase in their wholesale numbers, with Hyundai Motor India Ltd. leading the pack with a 45% increase. Meanwhile, a report by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) said car sales in the Philippines rose by 2.7%, with Toyota Motors Philippines Corp. selling the most cars. However, Australian figures were not as good, falling almost 22% year-on-year. (March 7/10, 2009)

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