Automobile manufacturers continue to step gingerly through the turmoil in the global economy in the first month of the new year.

Tata Motors recorded its sixth consecutive decline in domestic sales selling only 18,331 in January 2009 over the 20,119 units sold during the same period in 2008, an 8.90% decline in sales.

HMIL sales declined by 13.50%. HMIL has also signed an MoU with Syndicate bank for auto loans on Hyundai vehicles. Arvind Saxena, Senior Vice President, Marketing and Sales, HMIL, said, “2009 is going to be a challenging year, so we consider this partnership a welcome move.”

Market leader Maruti Suzuki which sold 63,459 units in January 2008 sold 67,005 in January 2009, a 5.60% growth. Thanks to the new Honda City, Honda Siel Cars India registered a 57.40% growth in sales selling 5,773 units this January against 3,667 units sold in January 2009. Mahindra and Mahindra have seen their sales decline by 17.06%.

For the two-wheeler segment it was business as usual. Hero Honda recorded a 5.84% increase in sales. TVS scraped together a 0.37% increase in sales. Bajaj Auto posted a 34.15% decline in sales.