Mumbai: Domestic passenger vehicle sales fell in June from a year ago as most auto makers dispatched fewer units to dealers ahead of the introduction of goods and services tax (GST), company data released on 1 July showed. Cumulative sales of top five passenger vehicle makers dropped 9% to 159,938 units over the same period a year ago. ALSO READ: GST to make luxury and premium car models cheaperPassenger vehicles sales at Tata Motors also dropped 10% to 11,176 units over the last year. Under GST, closing stocks of finished goods and inputs cannot be transferred to the new regime with full tax benefits. Sales at utility vehicle market leader Mahindra and Mahindra Ltd also dropped 5% to 16,170 units over the last year.

Source: Mint July 02, 2017 20:15 UTC