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India's October domestic passenger vehicle sales rise marginally


(Reuters) - India's domestic passenger vehicle sales grew marginally on a year-on-year basis in October, an industry body said on Friday, the first time in four months when rising prices and lending curbs have hurt demand.

is one of the world's fastest growing passenger car markets, but rising fuel prices and higher interest rates have hurt sales.

A weak rupee and liquidity crunch in the have taken a bite out of growth in carmakers' sales during the country's heaviest shopping weeks around festival Diwali.

Total passenger vehicle sales in October rose to 284,224 from 279,877 a year earlier, data from the (SIAM) showed on Friday.

Domestic sales of cars rose marginally to 185,400, while those of two-wheelers showed some uptick, rising 17.2 percent to 2,053,497.

(Reporting by in Bengaluru; Editing by Gopakumar Warrier)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 09 2018. 14:54 IST