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Tuesday, 2 August 2011

Maruti Suzuki, Hyundai, Tata Motors, Toyota, General Motors bear the brunt as car sales growth slumps to two-year low in July

Car sales in India hit a two-year low in July as rising costs, costlier loans and higher fuel prices prompted customers to postpone purchases of new vehicles.

 Initial reports from automobile makers showed a 9% drop in sales of new passenger vehicles over July 2010 when 2.02 lakh cars and SUVs were sold. The Society of Indian Automobile Manufacturers compiles and releases the exact figures towards the middle of every month. Car sales, which are seen as a key barometer of the country's economic health, had jumped 30% in the fiscal year ended March.Vcommindia News

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