for diesel cars and utility vehicles have also started coming down as diesel prices have been increasing, said Vishnu Mathur, Siam director general.
Meanwhile, M&HCV volumes in the same period are also down 21.37% at 2.17 lakh units. Bike sales, which account for 73% of two-wheeler volumes, have also shown flat growth this year.
Apart from expectations of a further interest rate cut, the auto industry has pinned its hopes on the Budget this month for an economic revival that will create demand for both personal and commercial transportation and improve prospects for the industry. Siam has asked for several measures, such as retirement of old vehicles, lower excise rates and implementation of a new urban renewal scheme to create demand for buses.