Decline in passenger vehicles sales by 3 pc in July
Business

Decline in passenger vehicles sales by 3 pc in July

New Delhi, Aug 10: The sale of passenger vehicles including utility vehicles and vans slumped in July and registered a negative growth of 2.71 per cent.

In July 2018 a total number of 290,960 units were sold as compared to 299,066 units over the same period last year, according to data revealed by Society of Indian Automobile Manufacturers (SIAM).

A total of 191,979 units of Passenger cars were sold in July this year as compared to 192,845 units over the same period of last year. The segment registered a negative growth of 0.45 pc.

"Last year in July, people put their purchase on hold due to GST. After the GST came into effect in July 2017, a surge was witnessed in the sale of cars. Sales have been good in July this year also but has declined in comparison to the strong figures of last year,” said SIAM Deputy Director General Sugato Sen.

He added that the automobile industry expects this year to be good for sales of all categories of vehicles.

Commercial vehicles sales also witnessed a growth of 24.50 pc as a total of 28,299 units were sold last month as compared to 22,730 over the same period of last year.

Similarly, the three-wheelers segment registered 46.24 pc growth while two-wheelers witnessed 8.17 pc growth. (UNI)