Economics
Collapsing Vehicle Sales Point to Modi’s Growth Challenge
- Passenger vehicle sales have fallen for seven straight months
- Economic growth at 5-year low as Modi government retakes power
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Prime Minister Narendra Modi just got another signal that India’s economy is faltering.
Sales of passenger vehicles fell for a seventh straight month in May, the longest stretch of declines since 2014, data from the Society of Indian Automobile Manufacturers in Delhi show. Passenger car sales declined 26% from a year ago, the sharpest fall across categories.