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.