India car sales shrink for first time in decade


NEW DELHI - India's passenger car sales shrank for the first time in a decade, falling 6.7 percent in the year to March, hit by a slowing economy and high interest rates, a top industry body said Wednesday.

Passenger car sales fell to 1.89 million units in the financial year to March 2013 from 2.03 million the previous year, the Society of Indian Automobile Manufacturers (SIAM) said in a statement.

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