Car sales in India rose an annual 8.5 percent in December; an industry body said on Tuesday, the second consecutive monthly rise as the industry continued to rebound from record falls in sales in late 2011.
Demand for cars in India, the world’s second-fastest growing auto market after China, shrank in July for the first time in nearly three years. Sales continued to fall for three consecutive months due to high interest rates and rising costs.
Indian automakers sold 159,325 cars last month, according to data released by the Society of Indian Automobile Manufacturers (SIAM). Total sales for the calendar year rose an annual 4.2 percent to 1.95 million vehicles, SIAM said.
Sales of trucks and buses, a key pointer to the country’s economic activity, rose 14.5 percent in December from a year previous to 72,192 vehicles, SIAM said.