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India s economy car sales hit worst ever crisis

India s economy car sales hit worst ever crisis

*NEW DELHI – India’s economy car sales hit worst ever crisis amidindustrial slowdown.*

India’s monthly passenger vehicle and car sales recorded their steepestfall ever in August, according to data released by an industry body onMonday, highlighting the continued slowdown in the sector amid assurancesby the government for revival.

Passenger vehicle sales plunged 31.57pc year-on-year to 196,524 units inAugust, falling for the 10th straight month, the Society of IndianAutomobile Manufacturers (SIAM) data showed, while passenger car sales fell41.09pc to 115,957 units.

This is the worst-ever fall for both the categories since SIAM startedrecording the data in 1997-98.