- Two Wheeler Sales dropped by 6.73%
- Commercial Vehicle declined by 10%
- Overall decline by 8.62%
Last month has been extremely dull for car manufactures. The 18-year record cracked with May 2019 Passenger Sales figures beating May 2001 sales figure that clocked 21.5% of drop. The industry managed to push just 20.5% of sales in the passenger vehicle segment. Not just four-wheelers, two-wheelers also saw a similar drop.
As per SIAM reports, car sales in India statistics were to the bear side last month. Indian passenger vehicle segment has seen the lowest slump with just 2,39,347 units of vehicles sold in May 2019. The car sales figure received 26.03% of the decline, making a lakh and 47 thousand units. Vans received drop by 27%, Utility Vehicles by 5.64% and commercial vehicle by 10%. Even the 2-wheeler segment declined by 6.73% being stagnant at 68,847 units only.
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The car sales have been on a continuous drop for last 11 months except for October 2018 when sales shot up by just 1.55%. May 2018 hs witnessed 3,01,238 units of passenger vehicle sales, higher than May 2019 PV sales figure. Have a look at the below chart for a better idea:
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With this, it seems a bit tough to see the automotive segment will bring good results anytime sooner as few manufacturers have scheduled production off for June and coming months. To this, they said that manufacturing new vehicles isn’t a good idea when the stocks are already full.
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