New Delhi: Car sales fell 1.8% in September, an industry body said on Monday, as rising interest rates and vehicle costs hurt demand in the world’s second-fastest growing auto market after China.
Automakers sold 165,925 cars in September, according to data released by the Society of Indian Automobile Manufacturers (SIAM).
Visitors inspect cars on display at a stall, during the “Auto Expo”, at the Pragati Maidan exhibition hall in New Delhi. Photo: AFP
Sales of trucks and buses, a key pointer to the country’s economic activity, rose 18.05% to 70,634 in September, SIAM said.
Demand for cars had shrank in July for the first time in nearly three years.