Car Sales Jump 10% in India

Year-on-year sales of passenger cars in India climbed 10% to 156,400 units in November, according to the Society of Indian Automobile Manufacturers.

The increase reverses two prior months of decline. It also offers hope that India's car market may have hit bottom after two years of irregular decline. SIAM predicts full-year volume will be about 4% higher than in 2013.

Analysts say lower inflation and cheaper fuel have helped bolster demand. But they also caution that many consumers are still waiting for interest rates to decline before buying.