New Delhi, Jan 12 (IANS) The struggling auto industry continued to tumble for the fourth consecutive month with the commercial vehicle (CV) sales for December dipping 58.2 percent and overall sales declining 18.2 percent year-on-year, data released Monday showed
According to the data released by the Society of Indian Automobile Manufacturers (Siam), auto-makers sold 17,920 commercial vehicles in December 2008 as against 42,961 units the year before marking a 58.2 percent dip in sales, the worst in 11 years.
The passenger car segment showed some signs of picking up with a 6.9 percent decline in year-on year sales, much below the 24 percent recorded last month.
The industry sold 82,105 passenger cars in December 2008 down from 88,272 units in December 2007. With the two-wheeler segment witnessing a 22.9 percent decline in sales, the overall dent in cumulative vehicle sales for the month stood at 18.2 percent.
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