Tata Motors, Honda Cars India post double digit growth in June

India's car market has been turning sluggish as interest rates on auto loans hasn't declined as expected. But even then car manufacturers like Tata Motors and Honda Car India have managed to register a double digit growth.

India’s largest automobile company Tata Motors passenger vehicles recorded an year-on-year growth of 30%, with sales of 10,281 units as against 7,911 units in June.

The growth trend was driven by the cars segment, specifically the new launches of Zest and Bolt and the new GenX Nano.

The sales of the passenger cars in June 2015 were higher by 44% at 8,516 units as compared to 5,933 units in June 2014. However, the UV sales declined by 11% at 1,765 units in June 2015.

On the other hand, Honda Cars India Ltd. (HCIL) registered monthly domestic sales of 18,380 units in June 2015 as against 16,316 units in the corresponding month last year, registering a growth of 13%.

The premium cars manufcaturer in India sold 44,447 units during April – June'15 as compared to 40,718 units sold during the same period last year, marking a growth of 9%.

Speaking on the company's performance, Jnaneswar Sen, senior vice-president – Marketing & Sales, HCIL, said, "We would like to thank our customers for the continuous support to all our models and are confident that we will continue to do well in respective segments.

“Currently, we are excited about the launch of the new Honda Jazz which we believe will help us make further inroads in the Indian market," added Sen.

HCIL also exported a total of 350 units during June 2015.
(Image: zest.tatamotors.com)