Growth of the sales in the auto industry is increasing rapidly in the July. In spite of the increasing inflation as well as the tightening interest rates, the car segment sales have increased. During the period of April-June growth rates are more when compared to SIAM predictions.
Even the officials of SIAM are expecting the sales figures to be more than the projected ones. During the first three months of the fiscal, the increment in the sales is around 27-28%. According to the SIAM, prediction of the car sales for the remaining period will be around 10%, but the officials of the SIAM are the expecting it be more than that.
The various factors which are influencing the sales according to SIAM are commodity prices, interest rates, inflation etc. Even the steel cost is also a major worry. SIAM also said that for bringing the Indian Automobile Industry more into focus, it has been collaborated by many associations of Japan, German, British.