automotive market prediction : Automobile industry body SIAM today lowered its vehicle sales growth forecast for FY'12 to 11-13% from 12-15% announced three months earlier, mainly due to higher interest rates and rising fuel prices.
The Society of Indian Automobile Manufacturers (SIAM) also predicted a lower growth of 10-12% during 2011-12, as against 16-18% announced earlier. It, however, said India became the top growing passenger car market in the world during the January-June period this year, overtaking the US, which grew at 14.40%.
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