Business Economy

Passenger vehicle sales plunge by 24% in September

India’s passenger vehicle sales slumped 23.7% in September ⁠—  the eleventh straight month of decline ⁠— amid one of the worst slowdowns seen in the auto industry, data released by an industry body showed on Friday.

Passenger vehicle sales dropped to 223,317 units in September, the Society of Indian Automobile Manufacturers (SIAM) data showed, while passenger car sales dived 33.4% to 131,281 units.

The data comes as the domestic automobile industry faces a crippling slowdown in demand that has led to production cuts and thousands of job losses.

Source: thehindu.com

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