April 2008 ended on a high note for the automobile industry of the country. The industry witnessed a high growth rate in their sales after few months of decline. This has brought some relief to the automobile industry as they are facing problems of high interest rate and slow down in retail financing. In April 2008, Bajaj sold 2.03 lakh units of motorcycle compared to 1.64 lakh units in April 2007. Bajaj said that it will soon bring out four new bikes in the 125 cc and above segment in 2008-09.

 

Similarly TVS sold 58202 bikes in April 2008, an increase of 8.7% than the same month in the previous year. Hero Honda's sales went up by 9% as the company sold 2.86 lakh units in April 2008 against 2.62 lakh units in April 2007. Experts believe that price cut and the excise duty cut has given a boost to the auto sales. It is not only that the two wheelers have recorded high sales but four-wheelers have also seen a rise in their sales.

 

Maruti has recorded a growth of 22.4% in sales in April 2008 than the same month in the previous year. Previous year it had sold 48652 units in the month of April and this year in the same month it has sold 59539 units. Hyundai has also seen a growth of around 36.7% in sales in April 2008 than the previous year. Other car manufacturers such as General Motors India too recorded a growth of 24.3% in their sales in April 2008 than April 2007.