Single digit growth for auto cos in September

New Delhi, Oct 4 (UNI) Growth of car sales in the month of September will be in single digit for the first time, said a top Tata Motors official.

''The market has been tough for the entire industry with sales remaining flat and for the first time we will see single digit growth figures to be released by SIAM,'' Tata Motors President (Passenger Cars) Rajiv Dube told reporters.

Sales of cars have been hit due to prolonged purchase postponements on account of high interest rates.

''There has been a conscious intervention by the government to slow demand and we can not resist macroeconomic demand slowdown,'' Mr Dube said.

He said growth in the sector was driven by the launches of new vehicles. ''If we take the new launches away, the industry will show a decline.'' He said that Tata was doing all it can do to offset slackening demand like launch of new products. Tata has plans to launch as many as 12 products in 2008.

Mr Dube, however, declined to give any sales projection for the company as the company will soon declare its quaterly figures.

India's top bus and truck maker, Tata Motors Ltd vehicle sales in September fell 1.26 per cent to 48,347 units from 48,963 units a year earlier.

Its sales of commercial vehicles in the domestic market rose 1.5 per cent to 27,036 units from 26,627 units a year earlier, while sales of cars and utility vehicles fell 8.6 per cent to 17,006 units.

Exports in August rose 16 per cent to 4,305 units from 3,727 units a year earlier.

UNI