NEW DELHI, India, May 14 (NNN-PTI) – Vehicle sales in India have registered a sharp fall in almost all the segments, viz. commercial vehicles, domestic vehicles, three-wheelers and two-wheelers, said the latest data, released by the Society of Indian Automobile Manufacturers (SIAM).
The country’s auto industry produced a total of 2,363,376 vehicles, including passenger vehicles, commercial vehicles, three-wheelers, two-wheelers and quadri-cycle in April, 2019, as against 2,646,257 in April, 2018, registering a decline of 10.69 percent.
According to the latest figures, the sale of domestic vehicles, i.e. those used for private travelling, declined by 17.07 percent in April, 2019, over the same month last year. Within the domestic vehicles, the sales for passenger cars, utility vehicle & vans declined by 19.93 percent, 6.67 percent and 30.11 percent, respectively, in April, 2019, over the same month last year.
This is being described as the “sharpest fall” in nearly eight years.
The commercial vehicles segment registered a decline of 5.98 percent in April, 2019, as compared to the same month last year. Sales of medium and heavy commercial vehicles declined by 13.56 percent and light commercial vehicles witnessed a decline of 1.10 percent in April, 2019, over the same month last year.
According to media reports, the decrease in number of vehicles produced and sold is mainly because nervous buyers chose to stay out of the market, ahead of the political uncertainty amidst the ongoing parliamentary elections, coupled with pressure on jobs and the overall economy.– NNN-PTI
