Motown’s almost three-year-long growth drive is over. The car industry slipped into negative terrain as sales dipped 1.71% to 87,724 cars this July, down from 89,250 cars in the same month last year.
Reeling under the double whammy of high inflation and credit squeeze (as the Reserve Bank of India curtails money supply to stem retail growth), the negative sales were a big blow to the sentiment in the automobile industry, which had last posted negative sales in November 2005. Read more
Courtesy: economictimes.indiatimes.com
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