Two-wheelers save the dying Automotive sector
Snapshot: According to a data released by Society of Indian Automobile Manufacturers (SIAM), total sales of two-wheelers in April 2014 grew by 11.67% over April 2013
It seems that the Indian automotive sector is having a tough time this year. According to SIAM's latest report, domestic car sales this April dipped by 10.15% than its figures in April 2013.
The number of two-wheelers sold in April 2013 were 11,68,100 whereas April 2014 saw a sales figure of 13,04,447 which makes it a growth of 11.67%. Motorcycles sales grew by 8.06% to 9,11,908 units against 8,43,909 units sold in the same period one year ago. Scooters witnessed the biggest jump by recording an impressive 26.08% extra sales this April making it 3,29,680 units sold.
Honda Motorcycle and Scooter India (HMSI) posted a growth of 13.71% in April this year whereas its scooters alone registered a growth of 27.53%. Rival Hero MotoCorp saw its motorcycles sales grow by 14.57%, and the scooters grew by 13.10%. Chennai based TVS Motor Company sold 55.17% more scooters this April.
However for Bajaj Auto, things were not so good this year where it saw a dip of 16.49% during the same time than last year.
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