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India auto association cuts FY13 motorcycle sales growth f'cast
January 9, 2013 / 7:11 AM / 5 years ago

India auto association cuts FY13 motorcycle sales growth f'cast

NEW DELHI, Jan 9 (Reuters) - India’s motorcycle sales are expected to grow by 3-5 percent in the current financial year, the country’s automobile industry association said, lowering its forecast as a slowdown in demand for cars spreads across the automobile industry.

The Society of Indian Automobile Manufacturers (SIAM) cut its growth forecast for the year that ends in March from 5-7 percent previously, also reducing its growth estimate for truck and bus sales to 0-2 percent from 3-5 percent.

Total automobile sales in India are seen growing 3-5 percent this year, SIAM said, down from 5-7 percent. (Reporting by Anurag Kotoky; Editing by Daniel Magnowski)

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