Car sales dip 2.55% in Oct as festive purchases remain subdued

Written by | November 12, 2014 | 0
New Delhi: Car sales in India fell 2.55 per cent in October as purchases remained subdued during the festival season, marking the second consecutive month of decline.

According to the data released by Society of Indian Automobile Manufacturers (SIAM), domestic car sales in October this year stood at 1,59,036 units as compared to 1,63,199 units in the same month of 2013.

“Festival season has been subdued as compared to last year. Also, the sentiment has become positive but unless we have some real economic growth kicking in, we might not see automobile sales going up,” SIAM Deputy Director General Sugato Sen told reporters here.

He added that sales would remain subdued for the next two months but may see some revival starting early next year.

“Though we might see some revival in sales early next year, the passenger vehicle segment and passenger cars are expected to grow at sub-5 per cent this fiscal,” Sen said.

In August, SIAM had forecast a growth of 5-10 per cent in passenger vehicles and cars for the current financial year.

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