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India Feb car sales fall the most in 12 years, plunge 25.7 pct y/y

Source : REUTERS
Last Updated: Mon, Mar 11, 2013 05:20 hrs

NEW DELHI, March 11 (Reuters) - Car sales in India slumped an annual 25.7 percent in February, the biggest fall in more than 12 years and the fourth consecutive monthly slide, an industry body said on Monday, as sluggish economic growth continues to weigh on demand in the once-booming market.

Automakers sold 158,513 cars in India last month, according to data from the Society of Indian Automobile Manufacturers (SIAM).

Car sales were down 4.6 percent for the first 11 months of the fiscal year ending in March, SIAM said, with the industry bracing for its for first annual sales fall in a decade.

Sales of motorcycles dropped 4.5 percent in February to 800,185 vehicles, SIAM said. Truck and bus sales were down 11.1 percent at 68,388. (Reporting by Devidutta Tripathy; Editing by Ranjit Gangadharan)



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