Car Sales Rise 8% in India

Sales of new passenger vehicles in India climbed to 155,800 units in June from 143,900 units a year earlier, according to the Society of Indian Automobile Manufacturers. In the April-June period, demand grew just 5% to 490,000 units.

Such automakers as Maruti Suzuki, Toyota and General Motors have announced production cuts in recent weeks in response to slowing growth.

SIAM has lowered its outlook for the fiscal year ending March 31 2013 because of high interest rates and soaring gasoline prices. The group, which in April predicted that sales would jump as much as 12% to 2.3 million units, now expects a 9%-11% increase.