Tuesday, 10 January 2012

India FY12 car sales growth seen at 0-2 pct-industry




Car sales in India are expected to grow by an annual 0-2 percent in the current financial year that ends in March, the Society of Indian Automobile Manufacturers (SIAM) said on Tuesday, as it cut its growth forecast.

This is the third time when SIAM has revised its forecast, earlier they had revised its forecast to 2-4 percent from the original target of 16-18 percent.

SIAM however raised its sales growth forecast for commercial vehicles to 18-20 percent from 13-15 percent.

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