Business

Auto sales decline by 12 % in November

NEW DELHI, DEC 10 (AGENCIES) | Publish Date: 12/10/2019 12:24:50 PM IST

Domestic passenger vehicle sales declined 0.84 percent to 2,63,773 units in November from 2,66,000 units in the year-ago period. Domestic car sales were down 10.83 percent to 1,60,306 units as against 1,79,783 units in November 2018, according to data released by the Society of Indian Automobile Manufacturers (SIAM). Motorcycle sales last month declined 14.87 percent to 8,93,538 units as against 10,49,651 units a year earlier. Total two-wheeler sales in November declined 14.27 percent to 14,10,939 units compared to 16,45,783 units in the year-ago month.

Sales of commercial vehicles were down 14.98 percent to 61,907 units in November, SIAM said.
Vehicle sales across categories registered a decline of 12.05 percent to 17,92,415 units from 20,38,007 units in November 2018, it added.
According to ANI report, SIAM director general Rajesh Menon said slagging consumption in rural areas is the main reason for negative sales growth of two-wheelers. Commercial vehicles sales were down by 14.98 per cent in November with 61,907 units compared to 72,812 units sold in the same month of last year. However, three-wheeler sales witnessed a growth of 4.45 per cent with 55,778 units, up from 53,401 units sold in November 2018.
Menon said the passenger and commercial vehicle segments remain an area of concern. 
“If the income tax reliefs are announced in the Union Budget for 2020-21, it will be of great help. We have also called for a reduction in Goods and Services Tax (GST) to help manufacturers.” The automobile sector has been experiencing a slump with nearly all manufacturers reporting falling sales due to subdued consumer sentiment amid an economic slowdown.
Last month, the Federation of Automobile Dealers Associations (FADA) reported that vehicle registrations across the country increased by nearly 4 per cent in October year-on-year due to buying in the festive season.
 

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