(MENAFN) Data showed a decrease in sales of in India's passenger car segment for the second year in a row, influenced by the slow economy and high costs of borrowing that indisposed customers, as reported by The Peninsula Qatar.
Passenger car sales dropped by 4.6 percent in the financial year ending March 2014 to a total of 2.3 million units, as total sales of commercial vehicles such as trucks and goods carriers decreased by 16 percent
The Society of Indian Automobile Manufacturers (SIAM) said that it's hoping for moderate improvement in 2014, stating that "We hope it's the end of our winter of discontent. This has been one of the most difficult years for the industry. We have had continuous decline over the last two years.
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