Passenger vehicle sales for September in India nearly doubled to 307,389 units from a year ago, the Society of Indian Automobile Manufacturers (SIAM) said on Thursday.
Sales in the world's fourth-largest car market have rebounded as crippling semiconductor shortages ease. Demand has also been propped by the festive season, which typically starts around the month of October when many Indians make big-ticket purchases."Recent increase in the prices of CNG fuel, higher repo rates and the Russia-Ukraine conflict are of concern and could impact the market in the coming months," SIAM President Vinod Aggarwal said.
"Off-take of entry level two-wheelers and entry level passenger vehicles have been of concern especially as the rural demand has not picked up," said Rajesh Menon, director general of SIAM.Register now for FREE unlimited access to Reuters.com
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