Car sales drop 3.2% in January 2009

09 Feb 2009 | 12:54 Car sales drop 3.2% in January 2009

Passenger car sales declined 3.2% to 1.10 lakh units in January 2009 over January 2008, according to data released by the Society of Indian Automobile Manufacturers (Siam). Sales of trucks and buses fell 51% to 23,157 units. Job losses and tight credit have dented demand for passenger cars. Interestingly, India's biggest small car maker in terms of market share, Maruti Suzuki reported record monthly sales in January 2009 on the back of strong growth in the rural market.