Indian auto sales likely to fall in 2013/14 - industry body exec
NEW DELHI, Sept 10
NEW DELHI, Sept 10 (Reuters) - India's vehicle sales growth is expected to remain in the negative in the current fiscal year ending March 2014, an industry body executive said on Tuesday, despite car sales rising for the first time in 10 months in August.
Car sales in India rose 15.4 percent in August, as top carmaker Maruti Suzuki's sales surged on a lower base, but slower economic growth, high fuel and interest costs weighed on demand.
Earlier this month, Tata Motors and Mahindra and Mahindra Ltd said domestic sales tumbled in August on rising fuel costs and interest rates, and the industry looks set for more pain as a sharply weaker rupee hits profit margins during key sales months ahead. (Reporting by Devidutta Tripathy; Editing by Prateek Chatterjee)
- Tweet this
- Share this
- Digg this
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
Trending On Reuters
Barack Obama in India
In a glow of bonhomie, U.S. President Barack Obama and Indian Prime Minister Narendra Modi unveiled plans to unlock billions of dollars in nuclear trade and to deepen defence ties, steps they hope will establish an enduring strategic partnership. Read | Slideshow
- Video: Modi receives Obama at the airport
- "We have a deal" - insurance may unlock India-U.S. atomic trade
- U.S.-China climate deal does not put pressure on India, says Modi
- Obama backs India's solar goals, seeks support for climate talks
- Column - U.S. and India: Two democracies should join to balance China's rise