Sales percentage of car declined in India

The sales of cars in India declined in the month of August 2012 by an overall 19 percent. It is counted among the biggest drop in one year timeline, resulting to which Society of Indian automobile Manufacturer (SIAM) asked the government to cut the excise duty.

The next disappointing part is that the export of cars is also declined to a figure of 26.83 percent in the August month which has affected overall production of companies in India. It is the highest decline in 11 years of time. The automobile industry has entered into a desperate situation.

The excise duty on automobiles, which was increased in this year’s Budget, needs to be reduced, particularly for the commercial vehicles segment to regain the sale in momentum.

In contrary to that, Chinese market saw a robust sale of car in the month of august.