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Tuesday, Oct 8
India car sales weak as industry tightens capacity
- The Society of Indian Automobile Manufacturers reports car sales in India fell 4.7% to 855,318 units for the half-year ending September 30 to mark the biggest drop during the period for over a decade.
- Analysts estimate as much as 30% of manufacturing capacity in the nation is idled at the moment due to the tepid demand.
- SUV sales are a particular concern for major automakers in the region.
- Unless something was lost in translation, the association report title which included the phrase "Festive Season the only hope" didn't inspire a lot of confidence.
- Related stocks: TTM, NSANY.OB, VLKAY.PK, RNSDF.PK.