The ailing auto sector showed slight signs of improvement during festive sales but no enough to pull the sector out of a demand crisis.
While experts believed that the festive season would help in mitigating losses caused to the auto industry due to the slowdown, there has been hardly any improvement with respect to October passenger vehicles’ sales.
Data obtained from the Society of Indian Automobile Manufacturers (SIAM) showed that the Indian auto sector’s total sales declined by 12.76 per cent to 21,76,136 units in October from 24,94,345 units solder during the corresponding month of the previous year.
While there has been a slight improvement in the sale of domestic passenger vehicles, up 0.28 per cent to 2,85,027 units in October from 2,84,223 units in the year-ago period.
Meanwhile, domestic car sales were down almost 6.34 per cent at 1,73,649 compared to 1,85,400 units in October 2018.
SIAM data also revealed that motorcycle sales slowed nearly 16 per cent to 11,16,970 units against 13,27,758 units in the corresponding period a year ago. In fact, total two-wheeler sales in October declined 14.43 per cent to 17,57,264 units compared to over 20,00,000 units in October 2018.
On the other hand, sales of commercial vehicles slumped 23.31 per cent at 66,773 units in October, showed data.
Barring utility vehicles, passenger carriers and quadricycles, all other vehicle categories witnessed decline in sales during October.
[“source=indiatoday”]
