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Passenger vehicle sales down by 24 per cent, commercial by 62 per cent
Business

Passenger vehicle sales down by 24 per cent, commercial by 62 per cent

Agency News

New Delhi, Oct 11 : There was a decline in sales of passenger vehicle of 23.69 per cent and 62.11 per cent in commercial segment, according to data released by the Society of Indian Automobile Manufacturers on Friday.

This means the slump in vehicular sales has continued in the eleventh straight month at a time when the country's auto sector is facing one of the worst slowdown in decades.

According to SIAM data, passenger vehicle sales dropped to 2,23,317 units in September from 2,92,660 a year ago while passenger car sales dropped by 33.4 percent to 131,281 units compared to the same period in 2018.

The industry produced a total 14,427,724 vehicles including Passenger Vehicles, Commercial Vehicles, Three Wheelers, Two Wheelers and Quadricycle in April-September 2019 as against 16,645,330 in April-September 2018, registering a de-growth (-) 13.32 per cent over the same period last year.

The sale of Passenger Vehicles declined by (-) 23.56 per cent in April-September 2019 over the same period last year.

Within the Passenger Vehicles, the sales for Passenger Cars, Utility Vehicle and Vans declined by (-) 30.30 per cent, (-) 3.78 percent and (-) 35.46 per cent respectively in April-September 2019 over the same period last year.

The overall Commercial Vehicles segment registered a decline of (-) 22.95 per cent in April-September 2019 as compared to the same period last year. Medium and Heavy Commercial Vehicles (M&HCVs) declined by (-) 35.79 per cent and Light Commercial Vehicles declined by (-) 14.69 per cent in April-September 2019 over the same period last year.

Three Wheelers sales declined by (-) 6.66 per cent in April-September 2019 over the same period last year. Within the Three Wheelers, Passenger Carrier sales registered a de-growth of (-) 6.37 per cent and Goods Carrier declined by (-) 7.98 per cent in April-September 2019 over April-September 2018.

Two Wheelers’ sales registered a de-growth of (-) 16.18 per cent in April-September 2019 over April-September 2018. Within the Two Wheelers segment, Scooters, Motorcycles and Mopeds declined by (-) 16.94 per cent, (-) 15.24 percent and (-) 25.33 per cent respectively in April-September 2019 over April-September 2018.

In April-September 2019, overall automobile exports grew by 1.29 per cent where Passenger Vehicles and Two Wheelers exports grew by 4.38 per cent and 4.10 per cent respectively.

However Commercial Vehicles and Three Wheelers registered a de-growth of (-) 41.58 per cent, and (-) 11.59 percent respectively in April-September 2019 over the same period last year.

Low demand in recent months has led to a massive slowdown in the auto sector of the country which is the fourth largest in the world. A massive job loss is feared in India's automotive industry, which employs more than 3.5 crore people directly and indirectly.
(UNI)