Car sales in India rose marginally in September, an industry body said on Tuesday, as demand during the ongoing festive season was tempered by high interest rates and fuel costs.
Automakers sold 156,018 cars in India last month, up 0.7 per cent from a year earlier, data from the Society of Indian Automobile Manufacturers (SIAM) showed.
Sales of motorcycles rose 17.4 per cent in September to 885,117, while truck and bus sales were down 27 per cent at 51,680 units, SIAM said.
A surprise increase in interest rates and rising car prices last month have tempered hopes for a turnaround in the country's struggling auto sector, with some analysts pushing back forecasts for a sustained recovery to the next financial year.
Automakers have pinned their hopes on some recovery in demand during the key festive months between September and December, considered to be auspicious by Indians for making big-ticket purchases.
A strong monsoon is also seen helping rural demand.
Comments
0 comment