Total vehicle sales declined by 18.66 per cent as demonetisation hits the industry
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What would be the long-term effect of demonetisation is debatable. It seems, however, that demonetisation has affected the automobile industry very hard. According to latest data by the Society of Indian Automobile Manufactures (SIAM), monthly automobile sales growth rate in India slipped to a 16-year low in December 2016 " the total sales declined by 18.66 per cent.
The data reveals that vehicles across categories sold 12,21,929 units last month, slipped from 15,02,314 units in December 2015. Only the light commercial…
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