InfoAnda - India car sales leap 38 percent in July

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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World India car sales leap 38 percent in July AFP - Monday, August 9 Send IM Story Print India car sales leap 38 percent in July MUMBAI (AFP) - – Car sales in India surged 38 percent in July from a year earlier as increasingly affluent consumers flocked to showrooms in Asia's third-largest car market, data showed Monday Vehicle sales -- considered a key indicator of the strength of India's overall economy -- have been robust as the economy rebounds from the global financial crisis. Car sales climbed in July to 158,764 units from 115,084 a year ago, while sales of trucks and buses grew 37 percent to 51,481 units, figures from the Society of Indian Automobile Manufacturers (SIAM) showed. The sales have been driven by new model launches, easy access to low-cost loans and rising incomes. Analysts forecast passenger car sales will slow marginally in coming months, as fuel prices rise and auto loans become costlier due to increases in interest rates. SIAM expects car sales to grow by 12 to 13 percent in this fiscal year to March 2011 while analysts say they could increase by up to 15 percent. Asia's third-largest economy grew by 7.4 percent in the financial year ended March 2010 and is projected to grow by 8.5 percent this year. India's car market is forecast to triple over the next decade to six million cars a year from the current two million, according to industry projections. Recommend Send IM Story Print Related Articles US-BUSINESS Summary Reuters - 23 minutes ago Skype files for IPO of up to $100 million Reuters - 24 minutes ago WTO condemns Australian ban on New Zealand apples Reuters - 28 minutes ago Russia rouble hurt by concern over drought impact Reuters - 35 minutes ago Sara Lee CEO Barnes steps down permanently Reuters - 40 minutes ago News Search Top Stories Campbell said she got diamond from Taylor: Farrow BP oil spill response costs hit $6.1 bln German trade data bodes well for European growth BP spends $6.1 bln on Gulf spill response Israel PM defends flotilla raid as 'lawful' More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Sauna contest in Finland cut short as Russian dies Massive ice island breaks off Greenland glacier Campbell said she got diamond from Taylor: Farrow Former HP boss reaches settlement with accuser BP spends $6.1 bln on Gulf spill response More Most Viewed » Argentine students crack three-decade-old murder mystery 40 US billionaires pledge half wealth to charity World's first full face transplant man appears on TV Calcium supplements linked to heart attacks: study Massive ice island breaks off Greenland glacier More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010

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