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Automobile Sales See Biggest Drop In 16 Years After Notes Ban

Automobile Sales See Biggest Drop In 16 Years After Notes Ban

Wednesday, January 11, 2017, 1:00 PM

Automobile sales saw their biggest monthly fall in 16 years in December 2016, after the ban on Rs 500 and Rs 1,000 bank notes, announced by the Government. Data from the Society of Indian Automobile Manufacturers (SIAM), showed sales fell 18.66% in December to 1.2 million units, the biggest monthly fall since the same month in 2000.
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