Retail in Asia

In Sectors

India’s automakers post record sales for February

Automobile sales in India remained robust in February, reaching record levels for some automakers, as better availability of low-cost loans and expectations of a price hike prompted customers to buy new vehicles. On 26 February India raised the excise duty on automobiles by 2 percentage points as part of a gradual withdrawal of the stimulus measures enforced to shield Asia’s third largest economy from a global downturn.