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Auto association cuts FY13 motorcycle sales growth forecast

Source : REUTERS
Last Updated: Wed, Jan 09, 2013 07:30 hrs
A worker cleans a Hero Splendor motorcycle at a Hero MotoCorp showroom in Jammu

India's motorcycle sales are expected to grow by 3-5 percent in the current financial year, the country's automobile industry association said, lowering its forecast as a slowdown in demand for cars spreads across the automobile industry.

The Society of Indian Automobile Manufacturers (SIAM) cut its growth forecast for the year that ends in March from 5-7 percent previously, also reducing its growth estimate for truck and bus sales to 0-2 percent from 3-5 percent.

Total automobile sales in India are seen growing 3-5 percent this year, SIAM said, down from 5-7 percent.



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