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India car sales go through the roof.

Despite a huge rise in prices, car sales and car finance in the growing market that is India have seen their biggest rise in well over a decade. This news comes as a surprise considering that prices have risen throughout the country.

Despite a huge rise in prices, car sales and car finance in the growing market that is India have seen their biggest rise in well over a decade. This news comes as a surprise considering that prices have risen throughout the country.

The increase is up an annual 39.5% and Vishnu Mathur, director general of the Society of Indian Automobile Manufacturers (SIAM) stated that “sales were likely to be sustained in a rapidly growing economy with easy availability of finance and improved consumer sentiment.”

Raw materials such as pig iron and steel have increased in price due to new emission standards, but this seems to have not affected the Indian car buying market as sales are on the rise.

Domestic car sales in India were 143,976 in April, up from 103,227 in the same month last year, according to SIAM data.

It is the largest rise in sales since April 1999 when they rose an annual 50.3 percent.

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