Reflecting one of the worst months in years for the Indian auto industry, total vehicle sales in the domestic market in September fell by 9.58 per cent with passenger vehicle sales coming down to single digit growth, despite car sales continuing to grow.
Already hit hard by rising interest rates, the industry suffered a double whammy with export of cars declining by 8.25 per cent during the month, thanks to the appreciating rupee.
The two-wheeler segment continued its dismal performance registering a 13.17 per cent fall, while motorcycle sales skid by 18.40 per cent.
According to figures released by Society of Indian Automobile Manufacturers, total vehicle sales in the domestic market stood at 8,89,693 units compared to 9,83,983
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