India's September car sales up 30.4%

Car sales in India rose an annualised 30.4 percent in September, as a rapidly expanding economy continued to pull buyers to showrooms. Demand in India was expected to rise during the festive season, that started in September and peaks in November.

India has raised interest rates five times this year, by a total of 125 basis points, to clamp down on inflationary pressures that could make auto loans costlier.