New Delhi, March 8 (IANS) More cars were sold in India in February this year in anticipation of a price hike after the budget. A total of 153,845 vehicles were sold as car sales went by by 33 percent in February.
As per data released by the Society of Indian Automobile Manufacturers (SIAM) Monday, car manufacturers sold 115,505 units in the year-ago period.
Sale of commercial vehicles, a key indicator of economic activity, rose a whopping 87 percent during the month at 58,024 units.
Auto stocks reacted positively to the news and were among the major gainers on the Bombay Stock Exchange.