Gravity Defying Performance
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The performance of the auto industry in recent times perfectly matches the motion of an accelerating car. From a first gear 1.3 per cent growth in fiscal 2008-09 to second-gear 4.75 per cent in Q1 of FY2009-10 to third-gear 25.4 per cent in Q2, the passenger vehicles segment (including cars and utility vehicles) shifted into fourth gear in Q3, hitting a growth rate of 57 per cent over Q3 of FY2008-09. True, the base was low, making growth appear better, but even volumes have been unprecedented.