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Passenger cars were up 11% during the month, while two-wheelers remained little changed from the year-ago period.
Sales of two-wheelers, the entry-level vehicle for most people, are mostly dependent on bank loans, which in the rural pockets seem to have dried up as banks have grown wary of lending to a class that is feeling the pinch of the high cost of living, or inflation, and on rising repayment costs on loans because of interest rates that haven’t budged from high levels in the past two years. Banks have also been ticked off by the country’s highest court for arm-twisting clients for repayments...
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