The auto sector in India has had a rollicking year with the sales figures jumping every month. The slowdown had its effects but didn't last long. According to figures available, the automotive industry in India grew by 26.41% in sales in 2009-10.
The data available from the Society of Indian Automobile Manufacturers (SIAM) say that the total vehicles sales in India in the last fiscal year was at 1,22,92, 770 units compared to 97,24,243 units in the previous financial year.
The growth was a result of the timely help from the government in the form stimulus packages which bailed out the industry from getting into troubles during the bad times. The growth figures has made India the second largest fastest growing market in the world, after China.
During the fiscal year 2010-11, SIAM has predicted that the industry would grow by 10-14%. Dr Pawan Goenka, president, SIAM said that the stimulus packages, new product launches, implementation of 6th pay commission and low interest rates boosted the segment.
