November Car Sales drop by 8.25% in India
TNI Bureau: After an exciting increase in sales during October 2012, the car companies in India had to take a severe beating in November. The car sales in India declined by 8.25 per cent in November, as the festive season failed to lift the mood of the customers.
According to market analysts, the sales went down because of high interest rates, rising fuel prices and other factors related to economic growth. According to the data released by Society of Indian Automobile Manufacturers (SIAM), the total number of cars sold in November was pegged at 1,58,257, as compared to 1,72,493 units in October.
Interestingly, Maruti Suzuki registered an increase in sales by 2.35 per cent. However, Hyundai Motors recorded a decline in the sales. Even Tata Motors registered a declined in its car sales.