Moneycontrol PRO
Upcoming Event:Attend Quants League - 5 Days Live Algorithmic Options Trading Virtual Conference @ just Rs. 600/- brought to you by Moneycontrol Pro. Register Now!

SIAM cuts FY13 car sales growth forecast to 1-3%

Car sales in India are seen growing just 1-3 percent in the financial year that ends in March 2013, an industry body said, as it slashed its previous estimate of 9-11 percent on high interest rates and slowing economic growth.

October 10, 2012 / 02:34 PM IST

Car sales in India are seen growing just 1-3 percent in the financial year that ends in March 2013, an industry body said, as it slashed its previous estimate of 9-11 percent on high interest rates and slowing economic growth.


Car sales in India fell 5.4 percent in September for the second consecutive month, according to data released by the Society of Indian Automobile Manfacturers (SIAM) earlier on Wednesday.


Also read: Domestic car sales down 5%, bikes dip 19% in Sept

SIAM also cut its motorcycle sales growth for the year to 5-7 percent from 11-13 percent, and commercial vehicle sales growth to 3-5 percent, from 6-8 percent.

first published: Oct 10, 2012 11:22 am

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark