August Boost for Auto Sector
Domestic passenger car sales grew by 35 percent in August, reaching 4.5 lakh units. Sales growth recorded by Maruti Suzuki, Tata Motors Passenger Vehicles, Mahindra & Mahindra, and Kia contributed to this surge. Partho Banerjee, Senior Executive Officer at Maruti Suzuki India, stated that the automotive industry continues to benefit from the momentum generated last year by GST rate cuts, income tax benefits, and the reduction in the repo rate, and is now entering the festive season with optimism.
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