Thursday, December 08, 2011

Car Sales in India Rise 7% in November 2012

Car sales in India rose an annual 7% in November, the first monthly rise in five, an industry body said on Thursday, as the industry rebounded strongly from the biggest fall in over a decade the month before.

Demand for cars in India, the world's second-fastest growing auto market after China, shrank in July for the first time in nearly three years, and monthly sales have fallen since thanks to high interest rates and rising costs.

Automakers sold 171,131 cars last month, according to data released by the Society of Indian Automobile Manufacturers (SIAM).

Sales of trucks and buses, a key pointer to the country's economic activity, rose 35% to 66,264 vehicles, SIAM said.

Source : Reuters