Passenger car sales decline by 35.95% in July: SIAM
Motorcycle sales decline by 18.88 percent and that of scooters declined by 12.10 percent.
New Delhi: The sales of passenger cars declined by 35.95 percent in July, Society of Indian Automobile Manufactures (SIAM) said in its report.
The SIAM auto sales report comes amidst the continuous lull in the sector with Industry veterans constantly raising the issue of improving sentiments and need for revival of the sector.
Overall sales dipped 18.71 percent while overall CV sales declined by 25.71 percent. Motorcycle sales decline by 18.88 percent and that of scooters declined by 12.10 percent. Sales of overall 2-wheelers declined by 16.82 percent, SIAM said.
Amidst the ongoing slowdown in the Automobile sector, Industry leaders met Finance Minister Nirmala Sitharaman last week with an aim to find a concrete solution to the woes of the sector.
Automobile sector has posted the worst sales in two decades in the month of July with some top passenger car makers even plunging to their worst show in about two decades.
Vinkesh Gulati, Vice President FADA, after meeting the FM, told Zee News said that the Industry has been going through a very bad phase since 2001 with over 2 lakh job cuts in the last 2-3 months.