Retreat mode1 min read . Updated: 11 Aug 2011, 01:06 AM IST
Indian car sales declined 16% in July from a year ago, after growing for 30 months, data by the Society of Indian Automobile Manufacturers (Siam) showed. The drop was the steepest since November 2008, when sales fell over 19% amid a global financial crisis. While high interest rates and rising fuel prices kept buyers out of showrooms, the sales figures also reflected a 26% drop in sales reported by Maruti Suzuki, which faced production issues during the month.
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Graphic by Sandeep Bhatnagar/Mint