Car sales down 7.6% in January, bike sales up 4%

Sale of passenger cars in India declined 7.59 per cent to 1,60,289 units in January compared with 1,73,449 units sold in the same month of 2013, registering the fourth straight month of decline.

Car sales have fallen 5.2 per cent so far this fiscal year that ends in March, according to figures released by the Society of Indian Automobile Manufacturers (SIAM).

Automobile sales as a whole have hit a bad pitch amidst declining consumer optimism, the high cost of borrowing and rising fuel costs in a slowing economy.

Motorcycle sales, however, increased by 4.04 per cent to 9,22,323 units in January 2014 from 8,86,521 units in January 2013, SIAM data showed.

Two-wheeler sales as a whole increased by 8.85 per cent to 13,13,796 units in January 2014, from 12,06,931 units a year earlier.

Sales of commercial vehicles were down 20.93 per cent at 49,987 units against 63,218 units sold in the year-ago period, SIAM said.

Overall vehicle sales recorded a growth of 3.75 per cent to 16,19,689 units in January 2014 against 15,61,130 units sold in the same month of 2013, it added.