India auto body cuts FY13 car sales growth forecast to 1-3 pct
NEW DELHI, Oct 10 (Reuters) - India's car sales are seen growing just 1-3 percent in the financial year that ends in March 2013, an industry body said, as it slashed its previous estimate of 9-11 percent on high interest rates and slowing economic growth.
Car sales in India fell 5.4 percent in September for the second consecutive month, according to data released by the Society of Indian Automobile Manfacturers (SIAM) earlier on Wednesday.
SIAM also cut its motorcycle sales growth for the year to 5-7 percent from 11-13 percent, and commercial vehicle sales growth to 3-5 percent, from 6-8 percent.
(Reporting by Anurag Kotoky; Editing by Prateek Chatterjee)
Keywords: INDIA AUTOS/