Car sales in '99 cruise past half million for first time
WITH most of December still left, sales of passenger cars in calendar year '99 have already crossed the half-million mark - an achievement which marks a major milestone for the Indian automobile industry. By the end of November, a total of 5,02,067 passenger cars had been sold in the domestic market. This number is exclusive of the number of multi-utility vehicles (MUVs), which are used as substitutes for passenger cars in India. The inclusion of MUVs, whose sales so far this year have been around 1.2 lakh, would take total sales this year to well over 6 lakh. With sales of passenger cars exceeding 50,000 on average for the past five months, total sales of cars alone could be around 5.5 lakh for the year, if this trend is maintained in December.
-ET Dec.13,1999 |
