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Slowdown blues: Auto sales down 23.5%, worst slump in two decades

Maruti Suzuki India posted 36.14% decline in its August sales at 93,173 units

Slowdown blues: Auto sales down 23.5%, worst slump in two decades
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This is the steepest fall in vehicle sales since Siam started recording data in 1997-98

Arindam Majumder New Delhi
Passenger vehicle sales in the country declined for the 10th straight month as carmakers resisted increasing inventories at dealerships, signalling that it would be a muted festive season this year.

Domestic sales of passenger vehicles fell 31.6 per cent year-on-year to 196,524 units in August, according to the data released by the Society of Indian Automobile Manufacturers (Siam). That’s the steepest decline since 1997-98 when Siam started recording data.

Two-wheeler sales — a key barometer of the rural economy — also dropped by 22.24 per cent to 1,514,196 units against 1,947,304 units in the same period last year. Companies, wary