Automobile makers close March on a positive note

New Delhi/Cheni, April 1: Automobile manufacturers closed March 2016, also the fil month of fiscal 2015-16, on a positive note with most of them logging sales growth.

The industry is also hopeful of softening interest rate regime to boost their sales during the new fiscal. India’s leading passenger vehicle manufacturer Maruti Suzuki reported a 15.9 percent growth in total sales for March.

The company’s total sales stood at 129,345 units (domestic 118,895 units, exports 10,450 units) — up from an off-take of 111,555 units (domestic 103,719 units, exports 7,836 units) during the corresponding period of 2015.

According to the automobile manufacturer, its total sales in the last fiscal grew by 10.6 percent to 1,429,248 units.

“With this, the company ended 2015-16 with its highest ever sales of 1,429,248 units, a growth of 10.6 percent. This comprises the highest ever domestic sales of 1,305,351 units and 123,897 units of exports,” the company said in a statement.

“For the fourth year in a row, the top four best-selling models in India are from Maruti Suzuki: Alto, Dzire, Swift and WagonR.”

On its part, Tata Motors Ltd closed last month selling a total of 53,057 units as against 52,479 units sold in March 2015.

Cumulative sales (including exports) for Tata Motors for FY 15-16 were 511,711 units, higher by two percent over 502,281 vehicles, sold last year. While Tata Motors sales of passenger cars were not up to the mark, its commercial vehicles did well to boost up the overall sales. Utility vehicle major Mahindra & Mahindra Ltd clocked a total sales of 52,718 units up from 45,124 units sold during March 2015. (IANS)