Sales of car increased 38 percent with 1.82 lakh vehicles, that sold in the month of October in this year. This is the fifth consecutive month in which sales are continuously growing. This growth is expected to continue because of the growing economy and reduction in borrowing costs.

In this festival Dasara season, new cars like Maruti Suzuki’s renewed WagonR, Ford’s Figo, Polo from Volkswagen, Micra from Nissan Motor and upgraded i10 were motivated demand of customers during the month of October.

The sales of 14.6 lakh (source:The Economic Times) units were done including two wheelers commercial vehicles and three-wheelers in October. This number is higher than the sales of 13.3 lakh in the month of September in 2010.

According to the industry analysts, increasing in incomes and strong economic growth can help to maintain the growth of the sales of the automobile.

Society of Indian Automobile Manufacturers (SIAM), the industry body, expects industry to grow nearly 20 percent after revising the sales projections. But automobile manufacturers expect, slowdown of the sales of automobiles in remaining period of this year.

According to director general of SIAM, the auto sales will be in moderate growth in the coming months in the third quarter, because people prefer to purchase the vehicles in the new year. Few officials of auto companies are expecting growth in sales, because fundamentals of the industry are strong, interest rates are going to be favorable and flexibility in availability of financing.

The above information is about growth in the sales of the automobiles in the month of October in this year.