Vehicle sales across categories registered a decline of 18.71 per cent to 18,25,148 units from 22,45,223 units in July 2018, it added. In fact, all vehicle categories witnessed a decline in sales during the month.
The slowdown in auto sales also stems from a severe liquidity crunch in the non-banking financial sector which has dried up lines of credit to both auto dealers and potential car buyers.
New Delhi: India’s Gross Domestic Product (GDP) was 7.1 percent in July-September, lowest in three quarters, but it still remained...
