Connect to share and comment

India May car sales slide by 12% due to weak economy

Agence France-PresseJune 11, 2013 09:30
Car sales in India slid by over 12 percent in May from a year earlier, data showed Tuesday, the seventh straight month of decline in the once booming market as a slowing economy dragged down demand. "Economic weakness is weighing on demand," said Sugato Sen, senior director of the Society of Indian Automobile Manufacturers (SIAM). Domestic passenger car sales, seen as a pointer to overall economic health, fell 12.26 percent to 143,216 in May from May 2012. SIAM blamed high borrowing costs and worries over a sharp slowdown in the economy.

India car sales shrink for first time in decade

April 10, 2013 13:01
India’s passenger car sales shrank for the first time in a decade, falling 6.7 percent in the year to March, hit by a slowing economy and high interest rates, a top industry body said Wednesday.Passenger car sales in the once-booming market fell to 1.89 million units in the financial year to March, from 2.43 million the previous year, the Society of Indian Automobile Manufacturers (SIAM) said in a statement.

India car sales shrink for first time in decade

April 10, 2013 04:00
India's once red-hot car market shrank for the first time in a decade in the last financial year, industry figures showed Wednesday, underlining the scale of the slowdown in Asia's third-biggest economy. Passenger car sales fell by 6.7 percent in the financial year to March 2013 to 1.89 million units compared with from 2.03 million the previous year, the Society of Indian Automobile Manufacturers (SIAM) said in a statement.

India car sales shrink for first time in decade

April 10, 2013 02:30
India's passenger car sales shrank for the first time in a decade, falling 6.7 percent in the year to March, hit by a slowing economy and high interest rates, a top industry body said Wednesday. Passenger car sales in the once-booming market fell to 1.89 million units in the financial year to March, from 2.43 million the previous year, the Society of Indian Automobile Manufacturers (SIAM) said in a statement. Sales in March alone plunged 22.5 percent year on year, SIAM said.

CORRECTED: India car sales shrink for first time in decade

April 10, 2013 02:30
India's passenger car sales shrank for the first time in a decade, falling 6.7 percent in the year to March, hit by a slowing economy and high interest rates, a top industry body said Wednesday. Passenger car sales fell to 1.89 million units in the financial year to March 2013 from 2.03 million the previous year, the Society of Indian Automobile Manufacturers (SIAM) said in a statement. Sales in March alone plunged 22.5 percent year on year, SIAM said.

India car market shrinks for first time in decade

April 10, 2013 02:15
India's once red-hot car market contracted for the first time in a decade in the year to March, sliding 6.7 percent, a top industry body said Wednesday. Passenger car sales fell to 1.89 million units in the financial year from 2.43 million the previous 12 months, the Society of Indian Automobile Manufacturers (SIAM) said in a statement. pmc/adp/dan

Discounts abound as India's car market tanks

March 31, 2013 00:01
Indian car buyers are being bombarded with "buy now, pay later" offers after once-booming sales skidded to a 12-year low, highlighting the struggle to stimulate consumer demand in a sagging economy. "Go ahead, pinch yourself," says an ad for German giant Volkswagen's $13,400 Vento sedan, giving buyers a chance to trade in their old car, make a one rupee (two-cent) down payment and start paying for the new one a year later.

Discounts abound as India's car market tanks

March 27, 2013 00:00
Indian car buyers are being bombarded with "buy now, pay later" offers after once-booming sales skidded to a 12-year low, highlighting the struggle to stimulate consumer demand in a sagging economy. "Go ahead, pinch yourself," says an ad for German giant Volkswagen's $13,400 Vento sedan, giving buyers a chance to trade in their old car, make a one rupee (two-cent) down payment and start paying for the new one a year later.

India car sales slide 26%, biggest drop in 12 years

March 11, 2013 04:45
Car sales in India's once-booming passenger market plunged nearly 26 percent last month on an annual basis, their worst performance in 12 years, industry figures showed Monday. Car sales, seen as a key pointer to overall economic health, slid by 25.71 percent to 158,513 units in February from the same month in 2012, the Society of Indian Automobile Manufacturers (SIAM) said.

India set for worst car sales in decade after January plunge

February 11, 2013 11:16
India's once-booming passenger car sector looked set to post its worst annual performance in a decade, an industry group said Monday, after reporting a 12 percent plunge in auto sales in January. Car sales -- viewed as an important barometer of overall economic health -- slid by 12.45 percent to 173,420 units in January from the same month in 2012, the Society of Indian Automobile Manufacturers (SIAM) said.
Syndicate content