Friday, August 23, 2019
News

Slowdown continues: Domestic passenger cars sales plunge 36% in July (Lead)

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

New Delhi | Tuesday, 2019 6:45:05 PM IST
The slump in domestic passenger cars' sales continued with the segment's off-take plunging by 35.95 per cent in July.

Industry observers cited high cost due to GST and lack of adequate liquidity as the main reasons for the sales slowdown.

According to the Society of Indian Automobile Manufacturers (SIAM), passenger cars sales in the domestic market dropped to 122,956 units from 191,979 units sold during July 2018.

Among the other sub-segments of passenger vehicles, the number of utility vehicles sold in India went down by 15.22 per cent to 67,030 units in July 2019, while 10,804 vans were sold last month, down 45.68 per cent from the corresponding month of 2018.

Overall, passenger vehicle sales declined 30.98 per cent in July to 200,790 units from 290,931 units.

In the commercial vehicle segment, domestic sales were down by 25.71 per cent to 56,866 units last month, SIAM said.

Similarly, the data pointed out that three-wheelers' sales decelerated. The segment's off-take went down by 7.66 per cent to 55,719 units during the month in consideration.

In addition, overall sales of two-wheelers, which include scooters, motorcycles and mopeds, edged lower by 16.82 per cent to 1,511,692 units.

Accordingly, the total sales of the Indian automobile sector declined by 18.71 per cent during July 2019 to 1,825,148 units across segments and categories.

However, exports across categories were higher by 4.22 per cent to 414,596 units.

--IANS rv/pg

( 248 Words)

2019-08-13-12:46:05 (IANS)

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
Dabur India arm acquires management cont...
SBI customers to continue getting 3 pc i...
Kia Motors India launches mid-segment SU...
INSA releases Joint Industry Guidance on...
Vodafone Idea launches 'TurboNet' 4G in ...
IndiGo to restart Delhi-Singapore flight...
More...
 
INDIA WORLD ASIA
Security beefed up in UP for Janmashtami...
ICHR should carry out research for socie...
Chhattisgarh HC advocate files affidavit...
Maharashtra: Nigerain national arrested ...
UP: FIR registered against BJP MLA, aide...
NITI Aayog VC calls for 'extraordinary' ...
More...    
 
 Top Stories
Kota Neelima's paintings inspired b... 
It's always best to play your age: ... 
Manmohan Singh takes oath as Rajya ... 
Structural reforms needed to spur g... 
Kerala opposition demands withdrawa... 
Soldier killed in Pak shelling at L... 
By Mohammed Shafeeq... 
Tharoor backs Singhvi, Ramesh, says...