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Dussehra shock for auto firms as sales crater
New Delhi, Nov. 2 -- Retail automobile sales in India fell sharply in October, as an increase in insurance premiums and high fuel prices in a slowing economy have roiled consumer sentiment. In October, vehicle registrations declined 17% from the preceding month, despite festivals such as Dussehra. About 1.15 million vehicles were registered until 29 October, showed data from Vahan, the vehicle registration website of the Union government. Registrations plunged 35% in October from a year earlier. The figures are not strictly comparable, as the full-month data will be issued only later this week. To be sure, sales of cars and sports utility vehicles, as well as of two-wheelers, have been hit more by the current economic scenario. Commercial v...
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