Weak Consumer sentiment further deepens Auto Industry Downturn , July sales drop across categories

New Delhi: The downturn in the Indian automobile Industry has further deepens as the July passenger car sales dropped by 31% to 200,790 units. Similalrly, Commercial vehicles also drop 25.71% to 56866 units, as per the data released by the Society of Indian Automobiles Manufacturers (SIAM).

The sale of Passenger Vehicles declined by 21.56 percent in April-July 2019 over the same period last year. Within the Passenger Vehicles, the sales for Passenger Cars, Utility Vehicle & Vans declined by  26.45 percent, 7.22 percent and  30.97 percent respectively in April-July 2019 over the same period last year.

The overall Commercial Vehicles segment registered a decline of  13.57 percent in April-July 2019 as compared to the same period last year. Medium & Heavy Commercial Vehicles (M&HCVs) declined by  21.63 percent and Light Commercial Vehicles declined by  8.56 percent in April-July 2019 over the same period last year. Two Wheelers sales registered a de-growth of  12.93 percent in April-July 2019 over April-July 2018.

In April-July 2019, overall automobile exports grew by 1.17 percent where Passenger Vehicles and Two Wheelers exports grew by 1.34 percent and 4.83 percent respectively. However Commercial Vehicles and Three Wheelers registered a de-growth of 47.30 percent, and 12.80 percent respectively in April-July 2019 over the same period last year.

The Automobiles industry produced a total 9,724,373 vehicles including Passenger Vehicles, Commercial Vehicles, Three Wheelers, Two Wheelers and Quadricycle in April-July 2019 as against 10,883,730  in April-July 2018, registering a de-growth  10.65 percent over the same period last year.