It is not a good news for industry but it is true. Cars sales in India drops with a great extent.
The main reason's behind this according to analyst in India and auto experts is high interest rates and steps taken by reserve bank to reduce liquidity in the system.
According to Times of India , which is India's leading english newspaper "Rising inflation and interest rates, and lower availability of finance have pushed auto into skid row as sales for most car companies remained flat in July"
According to the sources the cars sales of various companies in India is given below :
Maruti Suzuki, car market leader :- 0.1% up at 52,911 units in comparison to 52,839 last year
South Korean major Hyundai Motor India :- 0.4% up at 15,066 in July against 15,003
Tata Motors :- decline of 14% at 14,652 in July this year against 17,629
Mahindra andMahindra :- 6% decline in July sales at 17,302 this year against 18,407
General Motors India :- 25% increase in July sales to 5,706 against 4,570 , because it is offering huge discounts on car spark , around 50,000.
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