Car sales in India dropped 12.5% to 173420 units in January, the third consecutive fall m-o-m and the fifth fall in six months.

The fall has also been reflected in sales of buses, trucks and two-wheelers.

The Society of Indian Automobile Manufacturers (SIAM) said the industry would miss all its growth targets in the current fiscal year as a result of the decelerating economy which is likely to push growth to its lowest level since FY 2002/03.