The slowdown in the Indian automobile industry is showing no signs of subsiding with the overall domestic sales declining 18.71 per cent to 18,25,148 units in July 2019, the latest SIAM (Society of Indian Automobile Manufacturers) data showed. In comparison, 22,45,223 units were sold in July 2018.
This is the fourth straight month of the Financial Year 2019-20 when the overall domestic sales have fallen. A drop of 12.34 per cent was registered in June 2019, 8.62 per cent in May and 15.93 per cent in April.
During July 2019, the passenger vehicle sales declined 30.98 per cent to 2,00,790 units, while the commercial vehicle sales plunged 25.71 per cent to 56,866 units. There was a drop of 7.66 per cent in the three-wheeler sales to 55,719 units and 16.82 per cent in the two-wheeler sales to 15,11,692 units. Besides, 81 quadricycles were also sold.
With regard to the overall production, there was an 11 per cent decline to 25,08,860 units in July 2019. In comparison, the figure stood at 28,18,986 units during the same month last year.
While the production of passenger vehicles slipped 16.52 per cent to 3,10,254 units, the commercial vehicle numbers declined 26.44 per cent to 66,943 units. There was a drop of 9.18 per cent in three-wheeler production to 95,931 units and 9.56 per cent in two-wheeler production to 20,35,056 units. The production of quadricycles rose 13.80 per cent to 676 units.
However, the overall exports climbed 4.22 per cent to 4,14,596 units in July 2019. The figure stood at 3,97,805 units in July 2018.
The export of passenger vehicles fell 4.43 per cent to 61,104 units in July 2019. The commercial vehicle numbers tumbled 32.87 per cent to 5,794 units. The export of three-wheelers declined 12.24 per cent to 40,315 units, while that of two-wheelers jumped 10.08 per cent to 306,707 units. A marginal rise of 1.50 per cent to 676 units was registered in the export of quadricycles.
[“source=indiatoday”]
