Vehicle sales in the country recorded a 45.93 per cent growth in October 2010 against 21.63 per cent in September as auto sales continued to zoom for the fourth consecutive month with 14,60,655 units sold in October.
A solid festival season demand, the launch of new models and strong economic fundamentals aided demand, the Society of Indian Automobile Manufacturers (SIAM) said in a release.
The month also recorded the best-ever monthly sales in passenger cars and two-wheelers. The industry had witnessed a total sales of 13,29,086 units in October this year.
"October demand was good due to the festive season. Basic fundamentals of the industry remains strong. Interest rates continue to be favourable despite a marginal increase and there is a strong availability of financing," SIAM director general Vishnu Mathur said.
Domestic passenger car sales jumped 37.99 per cent to 1,82,992 units in October against 1,32,615 units sold in the same month last year. October sales also topped the previous best of 1,69,082 units sold in September this year.
"This is for the fifth consecutive month that we are seeing record sales in cars segment. We see festive season demand spilling over to November," Mathur said.