March car sales up 20%, but FY12 growth only 2.2%

New Delhi: Car sales in India rose an annual 19.7 percent in March, an industry body said, a fifth straight monthly increase, but climbed only 2.2 percent in the fiscal year that ended last month due to sluggish sales in the first half of the year.

Demand for cars in India fell for the first time in three years last July as high interest rates and rising fuel costs deterred buyers.

 March car sales up 20%, but FY12 growth only 2.2%

Reuters

Indian automakers sold 229,866 cars in March, according to data released by the Society of Indian Automobile Manufacturers (SIAM) on Tuesday. Total sales in the fiscal year 2011/12 were 2.02 million cars.

Sales of trucks and buses, a key indicator of economic activity, rose 14.8 percent in March and an overall 18.2 percent in 2011/12. Motorcycle sales rose 1.2 percent in March and 12 percent in the fiscal year.

Reuters

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

Updated Date: Dec 20, 2014 09:37:20 IST