India passenger cars

India Car Sales Surge 9.8% in 2015

According to data from the Society of Indian Automobile Manufacturers (SIAM), India’s passenger car sales jumped 9.8% in 2015 to 2,034,015 units, crossing 2 million units for the first time. The previous high was 1,998,703 units in 2012.
Low oil prices, improving consumer sentiment and lower interest rates (down 75 basis points) have helped boost sales.
“Positive consumer sentiment, new launches and increasing disposable incomes are driving the growth in car sales…With RBI cutting repo rate by 75 bps this fiscal, lower interest rates on passenger vehicle loans helped support demand,” according to the Society of Indian Automobile Manufacturers Association.


India passenger car sales annual growth rate, 2011-2015 - LD Investments