India’s automobile sector records worst-ever sales

The economic meltdown has hit India’s automobile sector, with overall domestic sales at their worst ever, declining by 17.98% in November. Commercial and passenger vehicle sales also dropped sharply. According to data released by the Society of Indian Automobile Manufacturers (SIAM), total vehicle sales stood at 7.11 lakh (711,000) units in November 2008 compared to 8.67 lakh (867,000) units in the same month a year ago. Commercial vehicle sales crashed to 20,637 units from 40,879 units, while passenger car sales dropped to 83,059 units from 1.03 lakh (103,000) units. (December 11, 2008)