New Delhi, Oct. 23 -- Demand at India's top carmakers saw a sharp spike after cuts in goods and services tax (GST) rates late in September coincided with the Navratri to Diwali festive season sales when companies recorded double-digit growth.

The good news for the industry now is that there are early signs that the momentum will likely remain strong in the months and quarters ahead, top carmakers and industry veterans said.

Tata Motors Passenger Vehicles Ltd expects 7-8% growth in the industry's sales between October and March this financial year. Maruti Suzuki expects passenger vehicle sales to grow by around 7% next financial year. Hyundai Motor India has guided for 5.2% CAGR in the growth of overall industry sales till financial year...