11.1.12

Motown snippets








The Indian car industry is headed to report flat growth this financial year, after being the world’s second-fastest growing market behind China in the last two years when sales zoomed 26%- 30%. The Society of Indian Automobile Manufacturers (SIAM) cut car sales growth forecast for 2011-12 for the third time to 0%-2% on Tuesday, down from a bullish 14%-16% estimate at the start of the year in April last. Car sales declined 2.2% to 13.78 lakh units in the first nine months of this fiscal in spite of a 8.5% jump in December on the back of high discounts and freebies offered by carmakers.

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