17% dip in April: Passenger vehicle sales drop most in seven and half years

Passenger vehicle sales in India dropped 17 per cent in April - their worst monthly fall in nearly eight years, data from an industry body showed on Monday, as weak sentiment, high insurance costs and a liquidity crunch dented car sales. Sales of passenger vehicles dived to 247,541 in April versus 298,504 a year earlier, data released by the Society of Indian Automobile Manufacturers showed. Two-wheeler sales dropped 16.

4 per cent to about 1.6 million vehicles. Motorcycle sales last month declined 11.81 per cent to 10,84,811 units.....

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