SIAM lowers FY13 car sales forecast

NEW DELHI (Reuters) - The Society of Indian Automobile Manufacturers (SIAM) on Tuesday slightly lowered its car sales growth forecast for the year ending next March, as higher costs and slower economic expansion impinge on demand. But SIAM hoped demand would revive later in the year. Car sales for the current fiscal year are expected to rise 9-11 percent, the group said, lower than the 10-12 percent growth it had forecast in April. ...