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India’s Car Market Improves
Passenger vehicle sales in India grew about 1% year to 160,700 units in February compared with a year earlier, according to the Society of Indian Automobile Manufacturers.
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Passenger vehicle sales in India grew about 1% year to 160,700 units in February compared with a year earlier, according to the Society of Indian Automobile Manufacturers.
Analysts say the modest improvement suggests that government tax cuts on vehicles were able to overcome consumer worries about India's sluggish economy and high fuel prices.
Sales by market leader Maruti Suzuki advanced about 1% to 84,600 units in February. SIAM notes that car sales through the first 11 months of the fiscal year that began last April totaled 1.6 million units, down nearly 5% year on year.
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