Automobile sales growth at 16-year-low after demonetisation
Monthly growth rate of automobile sales in India slipped to a 16-year-low in December 2016, reflecting the negative consumer sentiment in the market due to demonetisation, said SIAM Director General Vishnu Mathur. Total vehicle sales declined by 18.66% from a year ago period. Sales of two-wheelers also witnessed the steepest ever decline of 22.04% in December 2016.