Total passenger vehicle sales in the domestic market fell 6.2 per cent in December, data from industry body SIAM or Society of Indian Automobile Manufacturers showed on Friday. Sales of passenger vehicles – including passenger cars, utility vehicles and vans – was 262,714 units in December, the data showed, compared to 280,091 units in January 2019. This is the third straight month of decline.
The sale of commercial vehicles was down 14 per cent to 75,289 units in January 2020 compared to 87,591 units in January 2019 and two-wheeler sales were down 16 per cent to 1,341,005 units in January 2020, compared to 1,597,528 units in January 2019. But the three-wheeler segment registered a 13 per cent jump in sales to 60,903 units in the month of January compared to 54,043 in the sam month last year.
The industry produced a total 2,151,544 vehicles including passenger vehicles, commercial vehicles, three wheelers, two wheelers and quadricycle in January 2020, as against 2,405,883 in January 2019, SIAM said in a press release.
Rajesh Menon, Director General, SIAM said, “Wholesale sales continue to dip in all segments barring the three-wheelers segment.”
“Sales of vehicles continue to be stressed due to rising cost of vehicle ownership and slower growth in GDP. We are hopeful that recent announcements of the government on infrastructure and rural economy would support growth of vehicle sales going forward, especially in commercial vehicle and two-wheeler segment. The excellent response of consumers to Auto Expo 2020, should also help to build positive consumer sentiments and improve sales in the coming months,” Rajan Wadhera, President, SIAM said.