Please see the data below .  If you carefully examine the data ,  a few things are apparent ;

1. Sales drop in tractors indicate poor state of affairs in agri- rural India ( decline in agricultural sector )

2. Sales drop in Medium and heavy ( M&H) segment indicate actual decline in industrial output

3. Sales drop in light commercial vehicles (LCV ) indicate that the ‘Public sentiment’ is negative .

In the tractor segment 3,44,911 units were produced as against 3,72,282 units in the same period of last FY, registering  7% decline according to the data of Tractor Manufacturers Association [TMA].

As per the  data of the Society of Indian Automobile Manufacturers [SIAM], total production in M& H segment was 2,11,530 vehicles against 2,72,400 in the same period of last financial year.

Source : http://www.business-standard.com/article/companies/steep-fall-in-commercial-vehicle-production-in-apr-dec-113012500139_1.html

VE Commercial Vehicle sales down 20% in December

By PTI Jan 01 2013 , New Delhi