NEW DELHI India's motorcycle sales are expected to grow by 3-5 percent in the current financial year, the country's automobile industry association said, lowering its forecast as a slowdown in demand for cars spreads across the automobile industry.
The Society of Indian Automobile Manufacturers (SIAM) cut its growth forecast for the year that ends in March from 5-7 percent previously, also reducing its growth estimate for truck and bus sales to 0-2 percent from 3-5 percent.
Total automobile sales in India are seen growing 3-5 percent this year, SIAM said, down from 5-7 percent.
(Reporting by Anurag Kotoky; Editing by Daniel Magnowski)
Trending On Reuters
HSBC Holdings Plc is shutting its private banking unit in India, marking the exit of another foreign bank from the cut-throat wealth management business in Asia's third-largest economy. Full Article