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Business

India car sales grows at slowest pace in nine months on cash crunch

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A man speaks on his mobile phone as he exits a glass door with the logo of Maruti Suzuki India at a showroom in New Delhi.   © Reuters

MUMBAI (NewsRise) - Car sales in India grew at the slowest pace in nine months in November, as Prime Minister Narendra Modi's ban on high-value currency notes triggered a cash shortage in Asia's third-largest economy, keeping customers away from showrooms.

According to data from industry group Society of Indian Automobile Manufacturers, or SIAM, sales of passenger vehicles, including cars, sport-utility vehicles and vans, last month rose 1.82% to 173,606 units from a year earlier.

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