The India economy saw car sales in December decline 7 percent according to Bloomberg.
The poor India economic news comes a car sales in India have declined five consecutive months and as the India economy continues to loose steam in the wake of the current global economic slowdown.
Currently, Indian banks charge as much as 15 percent for car loans so the recent decision by the Indian government and India central bank to reduce interest rates should lead to lower interest rate requirement and spur car sales or at least stop the bleeding moving forward.
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