India car sales register worst slide in three years
Photo: AFP
Mercedes-Benz director of sales and marketing Debashis Mitra stands next to the newly launched SLK 350 Mercedes-Benz at a function in New Delhi yesterday. Indian car sales slid almost 16 per cent in July from a year ago, their biggest drop in nearly three years, as high interest rates kept buyers out of the showrooms, data showed. Just one in 10 households in urban areas and one in 50 in rural areas owns cars, and the country has one of the world’s fastest-growing auto markets.
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