India's car sales dip 1% in Sep

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Passenger car sales in the country edged lower in the month of September 2014 signaling fresh weakness in the automobile sector of Asia's third biggest economy as high inflation and elevated interest rates keep consumers away from big-ticket items.

Domestic passenger car sales dropped by 1.03 per cent to 154,882 units in September 2014 from the same month a year ago, data from the Society of Indian Automobile Manufacturers (SIAM) showed on Monday.

In September 2013, passenger car sales in the country stood at 156,494 units.

Sales of motorcycles in India, however, climbed by 19.34 per cent to 10,56,509 units in September 2014 from 885,309 units in the same month a year ago.

Sales of two-wheelers also edged higher last month, rising by 23.81 per cent to 15,67,351 units in September 2014 over the same month a year ago.

Sales of commercial vehicles in the country climbed by 8.59 per cent to 56,140 units in September 2014 over the same month a year ago.

Consumer sentiment in India remains relatively weak despite a pickup in the economy and the return to power of the more growth and reform friendly BJP government as high borrowing costs and elevated consumer prices pinch pockets, dimming demand for expensive items.

Story first published: Monday, October 13, 2014, 23:00 [IST]
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