Tractors' growth contracts 12% in July, FADA laments record-high PV inventory levels

India's automobile retails grew 13.8% annually in July, driven by double-digit growth in most segments except tractors. Despite a 14% rise in passenger vehicle sales due to new launches, inventory levels hit a historic high, posing risks to dealers. FADA urges OEMs and financial institutions to exercise caution amid economic uncertainties.