The Indian steel rim producer Steel Strips Wheels Ltd (SSWL) has announced that it registered net sales of INR 754 million ($14.15 million) in January, down 7.25 percent compared to the corresponding month of 2012.
In terms of units sold, in January SSWL sold 801,000 steel wheel rims, decreasing by 6.4 percent compared to 856,000 wheel rims sold in the same month of 2012, while the company's wheel rim exports increased to 97,848, up 42.9 percent year on year.
According to SSWL, the sales are expected to increase in the coming months due to a number of new car models launched by automobile manufacturers and its increasing market share. Exports will see some growth with the overseas markets showing signs of recovery. The company expects steel wheel rim sales of 830,000 in February.
