India’s automobile industry sank deeper into an abyss in July with sales at some of the top passenger vehicle makers plunging to their worst in about two decades. Domestic passenger vehicle sales at Maruti Suzuki India Ltd, the country’s largest car maker, fell nearly 37% from the year earlier in July. Sales at the local units of Toyota Motor Corp. and Honda Motor Co. fell 24% and 49%, respectively in July. With the weak performance in July, passenger vehicle sales in India have now declined for the ninth month in a row. Its passenger vehicle sales fell 15% to 16,831 units during the month, while commercial vehicle sales declined 17% to 15,969 units.

Source: Mint August 01, 2019 17:26 UTC