Car Loan News
Automobile industry falls by 6% as sales of motor bikes decline by 15%
Saturday,1st September 2007
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A report by the Society of Indian Automobile
Manufacturers (SIAM) has revealed that motorcycles sales fell by 15 per cent
during April-July 2007. Being the largest in the two-wheeler segment, the declines in sales of bikes has pulled down the overall sales of the two-wheeler segment by over 9 per cent, and the whole automobile industry falling by 6 per cent. From April to July 2007, electric two-wheelers have emerged as a strong player. SIAM had included electric two-wheelers as a separate category after Electrotherm (India) – manufacturers of Yo-bikes – joined the industry organisation. While motorcycle sales in the domestic market were down, exports of bikes and step-thrus were up 31 per cent. Manufacturers and dealers attribute the high interest rates on auto finance as the main cause of sales slow-down. |
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