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India's passenger vehicles sales continue to sink, fall 30.9% in July

The fall in car sales comes at a time when demand for consumer goods is falling.

India TV Business Desk India TV Business Desk
New Delhi Published on: August 13, 2019 13:09 IST
  The data also showed that domestic passenger vehicle

 

The data also showed that domestic passenger vehicle production was down nearly 17 per cent in the month.

The sales of passenger vehicles to car dealers has fallen 30.9 per cent to 2,00,790 in July, according to data released by the Society of Indian Automobile Manufacturers (SIAM).

Commercial vehicles sales fell 25.7 per cent to 56,866 units, SIAM said.

Furthermore, motorcycle and scooters sales fell 16.8 per cent to about 1.51 million units, while passenger car sales fell 36 per cent to 1,22,956 units.

The data also showed that domestic passenger vehicle production was down nearly 17 per cent in the month.

The downward spiral in the automobile sector comes close on the heels of India’s S&P BSE auto sector index falling 23 per cent this year, with the country’s top automaker Maruti Suzuki’s market valuation falling 18.3 per cent since the beginning of this year.

The fall in car sales comes at a time when demand for consumer goods is falling -- leading to a considerable cutting down of jobs, with many companies forced to shut down factories for days and axe shifts.

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