Domestic car sales rose 2.78 per cent to 1,63,229 units in May 2012 from 1,58,809 units in the same month last year.
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At this time Car sales growth slowest in last 10 mths
ReplyDeleteSteep Interest Rates, Petrol Prices And Slowdown Defer New Purchases : Car sales opened the new financial year with the slowest growth in the last 10 months as higher interest rates, steep petrol prices and overall economic slowdown deferred new purchases. According to April sales data released by industry body Society of Indian Automobile Manufacturers (Siam), car sales grew 3% in the month at 1.68 lakh units against 1.62 lakh units in the same month last year. Companies like Tata Motors, GM and Ford were in negative zone, while market leader Maruti could manage a 4% growth in the month despite adding a new model Ertiga MPV. The growth rate in April was the slowest since June, when sales rose 1.7%.