New Delhi, Oct 13 (TIWN) Despite a 135 basis point interest rate cut since February and a number of measures announced by the Central government, including a sharp corporate tax cut, domestic vehicle sales plummeted for the 11th straight month in September.

Society of Indian Automobile Manufacturers (SIAM) data released on Friday showed that total commercial vehicle sales -- a proxy for the economy's commercial health -- steeply fell by 39 per cent to 58,419 units in September.  Rating agency ICRA had, earlier this month, said its outlook on the domestic commercial vehicle sector was negative, considering the sharp correction in vehicle sales amid slowing economic growth, overcapacity and tight financing environment.