India’s passenger car sales up in May

India’s passenger car sales rose 7% in May from the same month a year ago to 158,817 units, the slowest rate in two years, said the Society of Indian Automobile Manufacturers (SIAM). “If you look at the numbers now, looks like reaching fiscal 2012 targets will be difficult.  The interest rate is going up, availability of financing is down, prices are rising and sentiment is not very positive among customers,” said SIAM Senior Director Sugato Sen in an interview with Press Trust India (PTI). (June 9, 2011)