Mumbai, March 8 -- The Indian automotive wholesales maintained a strong foothold in 2018, despite sluggish demand in the latter part of the year. The year started with euphoria around new launches. But high interest rates, increased insurance premium, floods in Kerala, and new axle norms dented new buying in the second half of the year.
The overall automobile wholesales (including two-wheelers) increased by 12.7 percent in 2018 to 26,763,767 units compared to 23,747,408 units dispatched a year ago. Most of the segments had double digit growth except passenger vehicles which recorded 5.32 percent growth at 3,393,705 units as against 3,222,220 units in 2017.
The sales of utility vehicles, cars and vans were up 7.9 percent, three percent and...