Car sales in India hit a new record high in February according to industry data.
Car sales jumped 23% from a year earlier in February to 189,008 units according to data issued by the Society of Indian Automobile Manufacturers (SIAM).
The figure exceeds January’s all-time monthly record sales of 184,332 cars.
A strong economy and available consumer finance is underpinning rapid market growth in India, but buyers stepped up purchases ahead of a likely hike in excise duty applying to car purchases.
Local analysts are cautious on the outlook, noting that a likely rise in interest rates and higher fuel prices are among the factors that could dampen demand in the coming months.

US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData