New Delhi: The regular hike in key rates by the Reserve Bank of India has already started showing impact on the automobile industry with car sales during the month of July registering a sharp dip.

All the major banks have hiked the rates of all kinds of loans including Auto loan (after the central bank hiked its key short term lending and borrowing rates for the eleventh time in the last 17 months), which in turn is showing its impact on the sales figures of almost all the car companies barring those who have launched new models.

Maruti Suzuki: The biggest car maker of the company, with more than 50 percent market share, has registered a dip of 25 percent in its sales in July, 2011.

Maruti sold 75,300 units in the intervening month which is 25.34 percent lower than the figure of 1,00,857 in July 2010. While the company registered a downfall of 15 percent in the small car segment (Alto, A-Star, and Wagon-R), the compact car segment (Swift, Ritz) witnessed a decline of 56 percent.

Now the company is pinning hopes on the new model of Swift set to be launched this month. The company has claimed to have already got 36,000 bookings for the new model.

Hyundai Motors: Though the overall sales figures of the second biggest car maker in the country has shown decline of only 1.48 percent, the sales in domestic market has taken a hit by 11 percent in July. This clearly illustrates that the declining trend of car sales in the domestic market, which started in May, 2011 continues to head southwards.

The overall sales figure of the company is not that bad because the auto major has started exporting to new destinations off late. The sales figures stood at 49,667 in July, 2011.

Tata Motors: The combine sales figure of the company both in domestic and foreign market stood at 63,761 units in July, which is 6 percent lesser as compared to the same period last fiscal.

While the sale of commercial vehicles witnessed a spike of 14 percent, the passenger car segment witnessed a decline of 39 percent with the company selling 18, 294 cars in the segment.

Toyota: Launching of two new models ‘Etios’ and ‘Liva’ has helped the car maker to insulate itself from the downturn in the car market. The company has recorded an increase of 99 percent in its car sales in July. In total, the company sold 13,592 cars in the month.

Among the other car makers, Ford sold 10,706 units in July registering a growth of 11 percent.
General Motors sold 9,508 cars, registering a growth of 33 percent in the month of July.

Now, all the car majors are pinning hopes on the festival season to augment their sales figures.

(JPN/Bureau)