April car sales in low gear

"This is the biggest decline since May 2013, when car sales dropped by 11.7 per cent," SIAM Deputy Director General Sugato Sen told reporters in Delhi on Friday, May 9. Factors like high interest rates, fuel prices and inflation are still affecting demand, he said. "Today, even after the cut, the cost of ownership is extremely high. The small car customers are the most vulnerable under the current circumstances," he added.