People’s spending power is hit hard due to the economic slow down, which effected the sale of high-end cars dipped in May by 7.59 per cent, although the overall passenger car segment grew by 2.48 per cent. 

Society of Indian Automobile Manufacturers (SIAM), data says that the sales of the premium and luxury cars went down to 3,360 units in May from 3,636 units in the year-ago period. 

SIAM said, “In the first two months of the current financial year also, the sales of the high-end cars declined to 7,098 units from 7,149 units in the same period last year”. 

Mercedes-Benz, market leader in the premium segment, registered a decline of 34.18 per cent in May, although BMW's its competitor sales fell by 22.48 per cent last month compared to the year-ago period. 

In India, Mercedes-Benz German carmaker sold 181 units of its C, E and S-Class cars last month against 275 units in the corresponding month of last year. Sales of E-Class boosted with 32.69 per cent at 69 units, at the same time sales of its C and S-Class has decreased by 56.02 per cent and 31.58 per cent at 73 units and 39 units respectively.  

BMW, another German car maker, saw a fall of 169 units from 218 units in the same month last year in India. The entire series of BMW passenger cars, comprising 3, 5, 6 and 7-series sedans, registered steep falls during the month. 

The 100 per cent subsidiary of bankrupt US car major, General Motors India’s overall car segment grew by 1.12 per cent in May, but its luxury segment declined by 68.67 per cent at 120 units during the month compared with 383 units in May 2008. Chevrolet Optra is sold in the high-end segment by GM India. 

Hyundai Motor India, India’s largest car maker too reported a sharp decline of 50.91 per cent of its Elantra  and Sonata cars at 655 units against 1,025 units during May last year. 435 units were sold of Civic and Accord  car models of Honda Siel Cars India in the said month, with a drop of 66.38 per cent over 1,294 units sold during the same month of last year. 

A fall of 20.88 per cent over last year's 1,049 units is seen in Skoda Auto India that sold 830 units of Octavia, Laura and Superb. 

However, Toyota Kirloskar Motor bucked the trend and sold 697 units of its Corolla and Camry in May. Toyota saw a jump of 92.54 per cent over 301 units sold by the company in the same month of last year. 

It is noteworthy that sale of Cars having a petrol engine above 1200cc and a diesel engine above 1500cc displacements are charged with 20 per cent excise duties as government discourages car sales, at the same time small cars enjoy 8 per cent excise duty. 

Moreover, the engine capacities 1500cc and 1999cc cars attract an additional excise duty of Rs 15,000, while that of above 2000cc cars pay Rs 20,000 additional.

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Posted by Naresh Koshti on 15 June, 2009 3:20:44 PM IST #