Auto sales at 16-yr low in Dec as note ban takes toll

Light commercial vehicles segment saw a growth of 1.15 per cent

Monthly automobile sales growth rate in India slipped to a 16-year low in December with total vehicle sales declining by 18.66 per cent as demonetisation hits the industry hard.

According to latest Society of Indian Automobile Manufacturers (Siam) data, most of the major segments, including scooters, motorcycles and cars, witnessed record decline December sales as the automobile sector continued to bear the brunt of negative consumer sentiments in the wake of the ban of Rs 500 and Rs 1,000 notes announced in November.

Vehicle sales across categories registered a decline of 18.66 per cent last month at 12,21,929 units, from