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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Indian vehicle sales up 1.1 percent in April By ERIKA KINETZ,AP Business Writer AP - Monday, May 11 MUMBAI, India - India's vehicle sales continued to rise in April, growing 1.1 percent from the year before to 165,539 units, while exports surged, according to industry figures released Monday. ADVERTISEMENT Sales of passenger cars rose 4.36 percent, to 135,697 units, while commercial vehicle sales fell 11.25 percent, to 29,842 units, the Society of Indian Automobile Manufacturers said. Two-wheelers outperformed both, with sales rising 13.71 percent, to 700,995 units. Exports of passenger vehicles rose 33.9 percent, to 29,459 units, while commercial vehicle exports fell 35.9 percent, the group said. Total vehicle exports were up 26.6 percent. Vehicle sales in India remain minuscule by global standards, but global automakers like General Motors, Ford and Volkswagen have ramped up investments in India hoping to capture some of the fast-expanding market. Automakers sold just 1.55 million passenger vehicles in India last fiscal year, less than the number of cars sold in China and the U.S. in April alone. But until last year, when tight credit and waning demand began to crimp sales, growth in India had averaged 17.2 percent a year. Domestic sales began to recover after four months of contraction in February, as banks lowered interest rates and government stimulus measures began to take effect. Market leader Maruti Suzuki, which makes about half the passenger cars sold in India, said April sales totaled 64,857 vehicles and exports shot up 146.4 percent, to 6,891 vehicles, thanks to exports of the A-Star car to Europe. Exports were further boosted by Hyundai Motor India, which said domestic sales inched up 3.5 percent in April, to 22,247 units, while exports grew 19.6 percent, to 22,124 units. Tata Motors, the nation's largest commercial vehicle maker, said domestic commercial vehicle sales grew 9 percent in April, to 22,847 units, the first year over year increase in sales volume since September. Sales of passenger cars slipped 4.1 percent, to 14,615 units, not counting bookings for the ultra-cheap Nano car. Tata, which acquired Land Rover and Jaguar from Ford last year, said this month that it would launch both brands in India by year's end. "We believe that the upward trend will be confirmed with the auto companies reporting a gradual positive trend in volumes over the next couple of months," Vaishali Jajoo, auto analyst at Mumbai's Angel Broking, said in a recent report. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Related Articles: Business San Miguel first quarter income down 76 percentAP - Tuesday, May 12 Ahead of Bell: American Eagle on the upswingAP - Tuesday, May 12 BB&T to offer stock, cut dividend to repay gov'tAP - Tuesday, May 12 Nations look to make ship recycling safer, greenerAP - Tuesday, May 12 HSBC says first-quarter profits upAFP - Tuesday, May 12 Most Popular – Business Viewed Obese young men have less hope of marriage: study Australian zoo evacuated after orangutan escape British store admits it boobed in bra row $70-80 good price for oil: French economy minister Geithner's warning on speed of economic recovery View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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