Passenger vehicle sales decline most in 18 yrs

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Sales of cars and SUVs crashed the most in a month in 18 years as the slowdown in the economy and factors such as job losses and tight liquidity kept buyers out of the market. This is the seventh straight month of decline for passenger vehicles. The industry is saddled with heavy inventory, despite offering deep discounts and freebies. The industry is now petitioning the govt for a cut in GST rate.



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