Passenger vehicle sales decline for 10th straight month; down 31.57% in August
Domestic car sales were down 41.09%
India’s domestic passenger vehicle sales fell for the tenth straight month in August, declining 31.57% to 1,96,524 units from 2,87,198 units in the year-ago period.
Domestic car sales were down 41.09% to 1,15,957 units as against 1,96,847 units in August 2018, according to data released by the Society of Indian Automobile Manufacturers (SIAM) released on Monday.
This is the worst-ever fall for both the categories since SIAM started recording the data in 1997-98.
Motorcycle sales last month declined 22.33% to 9,37,486 units as against 12,07,005 units a year earlier.
Total two-wheeler sales in August declined 22.24% to 15,14,196 units compared to 19,47,304 units in the year-ago month.
Sales of commercial vehicles were down 38.71% to 51,897 units in August, SIAM said.
Vehicle sales across categories registered a decline of 23.55% to 18,21,490 units from 23,82,436 units in August 2018, it added.
In fact, all vehicle categories witnessed decline in sales during the month.
Auto companies’ heads urged New Delhi to revive the sector, crippled by sluggish demand resulting in hundreds of thousands of job cuts, at a conference last week.
Road and Transport minister Nitin Gadkari assured them that the government was working to help the sector and said he had asked the finance ministry to consider cutting taxes on petrol and diesel, as well as hybrid vehicles.
Source: Read Full Article