By IANS,
New Delhi : The struggling auto industry continued to tumble for the fourth consecutive month with the commercial vehicle (CV) sales for December dipping 58.2 percent and overall sales declining 18.2 percent year-on-year, data released Monday showed
According to the data released by the Society of Indian Automobile Manufacturers (Siam), auto-makers sold 17,920 commercial vehicles in December 2008 as against 42,961 units the year before marking a 58.2 percent dip in sales, the worst in 11 years.
The passenger car segment showed some signs of picking up with a 6.9 percent decline in year-on year sales, much below the 24 percent recorded last month.
The industry sold 82,105 passenger cars in December 2008 down from 88,272 units in December 2007. With the two-wheeler segment witnessing a 22.9 percent decline in sales, the overall dent in cumulative vehicle sales for the month stood at 18.2 percent.