The Indian car market has brought some laurels to its credit with the sale increasing by 12-13% in the FY ending March 2011, said Society of Indian
Automobile Manufacturers (SIAM ). Further growth is anticipated due to increased income sources and banking facilitations. In addition the car makers are coming out with new launches in another six months. The sale of passenger cars shot up by 33% (55.4 lakh) during the Q1 this FY against the significantly low show in the same period last year. In this level, it is expected that the mark might be 3 million in another six years, thanks to Indian government’s 10 year Automotive Mission plan. The growth and benefit in the auto industry are backed by improvement in economy of late, said the president of SIAM. He expressed the hope that the coming months too will bring more growth. The growth is good in two wheeler segment too, he said, that it got 30% (35.34 lakhs) during the same period . yet, there is an alert that the growth of passenger car might see a dip in near future due to price hike, said SIAM.