The rising fuel prices and the interest rates, have hampered the car sales this quarter. The number of cars sold in this quarter (April-October) has reduced by about 1.77 percent, compared to the this quarter last year. However, the exports for passenger vehicles have seen a hike of about 19.52%.
The two-wheeler market has also seen an increase in sales by 14.84% in this quarter for the domestic market and a tremendous growth of 29.89% in exports.The declining Rupee seems to have added extra revenue to the pockets of manufacturers who have been utilising their Indian plant to produce cars for the export market.
