India registers worst passenger vehicle sales fall in 8 yrs

The domestic passenger vehicle sales fell 17% to 2.47 lakh units in April, the worst decline in almost eight years, according to data released by the Society of Indian Automobile Manufacturers (SIAM). A steeper decline was last seen in 2011 when sales plunged 20%. The fall came amid rising insurance costs and petrol prices, SIAM's director general Vishnu Mathur said.