Domestic passenger car sales slip 8% in November: SIAM

Posted By: Religare
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Domestic passenger car sales slip 8% in November: SIAM
Indian car makers continued to feel the pinch of slowing economic growth and high interest rates as passenger car sales fell 8 per cent in the month of November 2013 at 1,42,849 units as against 1,55,535 units sold in the same month last year, PTI reported.

The report, citing the data released by Society of Indian Automobile Manufacturers (SIAM), said the sales of commercial vehicles also slipped 28.8 per cent at 43,730 units from 61,403 units in the year-ago period.

Two-wheeler makers were also struggling to increase the pace of growth as motorcycle sales rose by mere 1.44 per cent in the month at 8,80,015 units from 8,67,508 units in the same month previous year. Total two-wheeler sales increased 5.55 per cent at 12,40,732 units from 11,75,441 units in the corresponding month of previous year.

Dion Global Solutions Ltd.

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