BofA cutbacks may hit 40,000: Report

According to figures released by the Society of Indian Automobile Manufacturers (SIAM) today, motorcycle sales in the country grew by 15.43 per cent during the month to 839,772 units from 727,542 units in the corresponding month last year.Total two-wheeler sales grew by 16.1 per cent to 1,111,340 units last month from 957,236 units in August, 2010, as per the data.Sales of commercial vehicles grew by 22.62 per cent to 64,248 units in the month under review from 52,394 units in the year-ago period, SIAM said.Total sales of vehicles across categories registered a growth of 11.85 per cent to 1,412,945 units in August, as against 1,263,239 units in the same month last year, it added. [More]