Car sales hit all time high in India again!

Car sales in India surged to a record for a second straight month in August on strong demand before the holiday season, despite rising prices and supply constraints. Figures released on last Thursday by the Society of Indian Automobile Manufacturers showed that car sales hit 160,794 vehicles in August, up 33.2 percent from the year before. Commercial vehicle sales totaled 52,030, up 28.1 percent from a year earlier. Total vehicle sales, which includes utility and other passenger vehicles, rose 33 percent to 256,257.

Now, automaker like Mahindra been hurt by shortages of components like tires and fuel injection pumps. Maruti Suzuki announced to open a third plant in India to keep up with rapidly increasing sales. Moreover, Ford Motor expects India to be the world’s third-largest auto market at the end of 2019 after China and USA. Hence, they are pushing hard to gain market share from industry leaders Maruti Suzuki, Hyundai and Tata Motors.