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Fuel prices, interest rates hit car sales in May

PUBLISHED ON: June 1, 2011 | Duration: 2 min, 50 sec

  
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Hit by spikes in fuel prices and interest rates, car sales in the domestic market slowed down considerably in May with auto makers stating that the industry is in for a tough summer. While market leader Maruti Suzuki India (MSI) reported a growth of only 2 per cent in sales in the domestic market, rival Hyundai Motor India Ltd's (HMIL) volumes also grew just 2 per cent year-on-year.
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