Financial Daily from THE HINDU group of publications
Thursday, May 12, 2005
Financial Daily from THE HINDU group of publications Thursday, May 12, 2005 |
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Industry & Economy
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Automobiles Automobile sales top Rs 1,10,000 cr in value terms Our Bureau
New Delhi , May 11 WITH domestic and export sales driving growth, the Indian automobile industry registered a significant increase in value sales last year. According to official data, the value of domestic sales of automobiles and export put together was more than Rs 110,000 crore in the year 2004-05. The production of passenger vehicles increased by 22 per cent during the year as compared to the previous year. The total number of different types of passenger vehicles manufactured during the year was 1,209,654 units, an official said. Overall, the sales of passenger vehicles grew by 17.65 per cent last year to 1,061,290 units. According to the official data, the auto components sector in turn registered exports of $1.4 billion last year, which was about 16 per cent of the total turnover of the industry. As per a recent study conducted by the Auto Components Manufacturers Association and McKinsey, India has the potential of achieving exports of auto components to the tune of $20-25 billion by 2015. The largest share of this export comes from North America and Western European countries, which accounts for more than 60 per cent of India's export of auto components.
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