Passenger vehicle sales dropped by a whopping 30.98% to 200,790 units in July as weak consumer sentiments hit demand. As per data available with industry body Society of Indian Automobile Manufacturers (SIAM), commercial vehicle sales in the period under consideration dipped 25.71% to 56,866 units. Two-wheeler sales last month fell 16.82% to 1,511,692 units.
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Passenger vehicle sales dropped by a whopping 30.98% to 200,790 units in July as weak consumer sentiments hit demand. As per data available with industry body Society of Indian Automobile Manufacturers (SIAM), commercial vehicle sales in the period under consideration dipped 25.71% to 56,866 units. Two-wheeler sales last month fell 16.82% to 1,511,692 units.
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According to the monthly sales data released by SIAM, domestic passenger vehicle sales remained in red for almost 12th consecutive months in June 2019. Passenger car sales shrank by double digits for the third straight month in June as buyers continued to be put off by higher interest costs following the nonbank lending crisis and by rising automobile prices. Production across all segments also dipped by double digits in the first quarter of FY 19-20. Sharmistha Mukherjee explains the reasons for the slowdown and what the industry is seeking from the government to revive the Motown. Watch
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