India: Is Asia’s 3rd largest economy heading for a brusque slowdown?

Fall in India car sales signals slowdown

By James Fontanella-Khan in Mumbai
Financial Times

India’s auto sales in October suffered their biggest fall in over a decade, the strongest indication yet that Asia’s third largest economy is heading for a brusque slowdown.

Domestic sales of passenger cars were down 23.8 per cent, while production fell 28.1 per cent compared to the same period last year, according to the Society of Indian Automobile Manufacturers. This is the biggest drop in sales since December 2000, when car sales fell 35 per cent.

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