Sales of passenger cars in India are likely to fall due to hardening of interest rates, high fuel prices and the price of consumer confidence Vehicle Dent, the industry body said Wednesday, Siam.
Car sales, which grew rapidly by 30% over the previous year are considered more than 10-12% in FY12, Nine said today.
Nine had expected growth of 16-18% for domestic sales of passenger cars.Indian domestic passenger car sales dropped nearly 16% in July, data Issued on August 10 showed nine.
Sales of passenger cars, including cars, vans and SUVs, dropped 5.7% in August, the second decline in two and a half years, Siam said.
"While we hope to respond to industry estimates, global economic growth ... may have to adjust growth forecasts for most cars and trucks, "Pawan Goenka President of Siam, said today.
At the same time, some of the leading car that Toyota, GM and Honda Motorcycles at a marginal hike in prices of vehicles to meet the rising costs of raw materials.
However, companies are wary that any increase in price of the car could hit demand to slow down again.
Car sales, which grew rapidly by 30% over the previous year are considered more than 10-12% in FY12, Nine said today.
Nine had expected growth of 16-18% for domestic sales of passenger cars.Indian domestic passenger car sales dropped nearly 16% in July, data Issued on August 10 showed nine.
Sales of passenger cars, including cars, vans and SUVs, dropped 5.7% in August, the second decline in two and a half years, Siam said.
"While we hope to respond to industry estimates, global economic growth ... may have to adjust growth forecasts for most cars and trucks, "Pawan Goenka President of Siam, said today.
At the same time, some of the leading car that Toyota, GM and Honda Motorcycles at a marginal hike in prices of vehicles to meet the rising costs of raw materials.
However, companies are wary that any increase in price of the car could hit demand to slow down again.
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