Auto sales growth likely to decline during FY09

According to the new price list issued by the assemblers in line with the Budget 2008-09, cars prices swelled drastically ranging from Rs 30,000 to 0.4 million on various engine capacities in terms of different taxes levied on car sales, dealer said, adding that even if the current sky-rocketing trend in oil and gas prices get continued, consumers will be scared about the maintenance of their vehicles rather than to buy a new car.

It is pertinent to mention here that since March 2008, the record three -times fuel adjustments had taken place. Currently, petrol is being sold at above Rs 86 per litre, and CNG is being available at Rs 47.25 respectively.