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Wholesale automobile despatches decline on production cuts
New Delhi, March 8 -- Wholesale despatches of automobiles across segments in February remained subdued as vehicle manufacturers cut production amid a slump in overall economic activity. Passenger vehicle sales of major manufacturers were almost flat or declined during the month while those of commercial vehicles fell because of a lack of credit and new axle norms. Maruti Suzuki India Ltd, the country's largest passenger vehicle manufacturer, reported a 0.9% year-on-year growth in sales to 136,912 units. This is the third straight month in which the Maruti Suzuki India's vehicle production growth has stayed flat. Mumbai-based Tata Motors Ltd also reported a meagre 2% year-on-year increase in sales to 18,110 units, while Honda Cars India Ltd ...
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