New Delhi: Major car makers, including Tata Motors, Mahindra and Mahindra, and Toyota posted record sales for the month of March on the back of customers advancing their purchases fearing price hike after Budget.
About seven vehicle makers announced robust sales in March 2012 over the corresponding period a year ago with Tata Motors crossing one lakh unit sales mark.
Anticipating increase in car prices post Budget, customers preponed their purchases during last month, market analysts said.
About seven vehicle makers announced robust sales in March 2012 over the corresponding period a year ago.
Soon after the Budget was announced, leading car makers had said that the vehicles would become expensive by up to Rs 3 lakh as they will pass on increase in excise duty in the Budget to customers.
Toyota Kirloskar Motor (TKM) Deputy Managing Director (Marketing) Sandeep Singh said, "... the demand next month could be impacted due to the increase in excise duty, registration tax and VAT."
TKM, a joint venture between the world's largest carmaker Toyota and the Kirloskar Group, said it recorded an 87 per cent increase in car sales to 18,220 units in March, driven by highest ever monthly sales of its 'Etios'and 'Liva' models.
Tata Motors reported a 20 per cent jump in total vehicle sales during March at 100,414 units compared to 83,363 units sold in the same month last year.
Its total passenger vehicle sales in the domestic market rose 34 per cent at 36,984 units in March, highest ever in a month, over 27,678 vehicles sold in the year-ago period.
In the commercial vehicles segment, the company sold 58,063 units in the domestic market last month against 49,753 units in the same period last year, up 17 per cent.
Mahindra & Mahindra posted 25 per cent increase in sales at 47,001 units in March -- the highest ever monthly sales number in the history of the company.
Similarly, Honda Siel Cars India, joint venture between Japanese auto major Honda and the Siel Group, recorded a three-fold jump in its sales for March 2012 at 11,016 units.
German luxury car maker Audi reported 47 per cent jump at 1,002 units.
Two-wheeler maker India Yamaha Motor posted a 14 per cent increase in its total sales at 41,886 units.
VE Commercial Vehicles (VECV), a joint venture between the Volvo Group and Eicher Motors, announced a 19.5 per cent rise in its total sales at 6,051 units in March, 2012.
Auto makers like Maruti Suzuki, Hyundai, Tata Motors, Mahindra & Mahindra and India Yamaha had earlier expressed their unhappiness over the government's decision to hike the duties in the Budget.