Corporates contribute 35% of car sales

 Soaring bottom lines of companies seem to be driving up car sales in the country.

 In the first half of 2003-04, car makers recorded a 30-40 per cent rise in institutional sales, while car leasing and rental firms said their businesses grew as much as 100 per cent.

 In the first six months of the current financial year, car sales in the domestic market grew 23 per cent, while utility vehicle sales grew close to 40 per cent.

 Both these segments recorded just 5 per cent growth in the corresponding period last year. The contribution of institutional and leasing businesses in car sales increased from 10-15 per cent during April-September 2002 to 30-35 per cent during April-September 2003.

 Said Gaurav Khurana of General Motors India: