三级aa视频在线观看-三级国产-三级国产精品一区二区-三级国产三级在线-三级国产在线

US EUROPE AFRICA ASIA 中文
Business / Auto Global

India Feb car sales fall the most in 12 yrs

(Agencies) Updated: 2013-03-11 17:31

Car sales in India slumped 25.7 percent in February, the biggest fall in more than 12 years and the fourth consecutive monthly slide, an industry body said on Monday, as sluggish economic growth continues to weigh on demand.

The industry is expected to see it first decline in annual sales in a decade as high interest rates and rising fuel costs in Asia's third-largest economy put off buyers in a market that was once one of the world's most promising.

Automakers sold 158,513 cars in India last month, data from the Society of Indian Automobile Manufacturers (SIAM) showed. Car sales are down 4.6 percent for the first 11 months of the fiscal year ending in March, it said.

"There is no improvement in the market sentiment. People have more or less stopped discretionary purchases," Sugato Sen, deputy director general of SIAM told Reuters.

"This has really impacted the bottom of the pyramid, people who buy the smaller cars," he said, referring to the slowing economy that is expected to grow 5 percent, a decade low. "That is getting reflected in the numbers."

SIAM last month cut its car sales growth forecast for the year that ends on March 31 to 0-1 percent, its third downgrade this financial year from an initial estimate of 10-12 percent.

Sen, however, said that car sales in March were unlikely to reverse the falling trend for this fiscal year and annual sales were expected to end up in the "negative territory" for the first time since the 2002/03 fiscal year.

The demand for cars is likely to be hit in the near term by a surprise hike in taxes on sports utility vehicles (SUVs) in the last month's budget for the coming fiscal year. The demand for SUVs had provided some cheer for the automakers.

"We fear that there will be a change. There will be an impact," Sen said.

Over the past few years, billions of dollars of investment has poured into the industry from the world's biggest car makers including Ford, General Motors, and Nissan, hungry for growth outside their core markets.

Sales grew a record 30 percent in the year to March 2011 and annual sales have grown every year since the financial year that ended in March 2003, according to data from SIAM.

But a series of interest rate increases by the inflation-wary Reserve Bank of India, combined with a slowdown in India's once-breakneck GDP growth, saw sales growth fall to just 2.2 percent last year.

Sales of motorcycles fell 4.5 percent in February to 800,185 vehicles, SIAM said on Monday. Truck and bus sales, a key barometer for the health of the domestic economy, were down 11.1 percent at 68,388, the industry body said.

The automobile sector index was down 0.1 percent at around noon on Monday, while the broader Mumbai market index was little changed from its previous close.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 国产日韩欧美综合一区 | 蜜桃视频一区二区三区四区 | 国产在线播放你懂的 | 视频福利网 | 黄色录像一级毛片 | 久久99青青久久99久久 | 日本高清视频www夜色资源网 | 国产欧美日韩一区二区三区 | 国产麻豆剧传媒精品国产免费 | 欧美日韩小视频 | 久久精品国产这里是免费 | 狼人综合伊人网 | 亚洲视频高清 | 国产在线视频www色 国产在线视频一区 | 成年女人视频播放免费观看 | 综合久青草视频 | 日本高清视频网址 | 国产精品不卡高清在线观看 | 日韩亚洲一区二区三区 | 中文字幕 国产 | 成年视频xxxxxx在线 | 国内自产拍自a免费毛片 | 欧美三级蜜桃2在线观看 | 日韩在线免费视频 | 国产最新凸凹视频免费 | 免费黄色一级大片 | 成人在线小视频 | 国产中文字幕在线 | 久久99精品久久久久久久野外 | 超级碰碰碰在线观看 | 亚洲精品欧美综合 | 成人区在线观看免费视频 | 黄色香蕉视频 | 国产成在线观看免费视频成本人 | 99久久国产免费福利 | 国产成人综合久久精品尤物 | 国产精品秦先生手机在线 | 亚洲欧美日韩国产一区图片 | 黄毛片免费 | 国产乱偷国产偷高清 | 91正在播放极品白嫩在线观看 |