PV Sales Marginally Up After 11-Month Slide

PV Sales Marginally Up After 11-Month Slide

PUNE: Passenger vehicle (PV) sales registered an increase of 0.28 per cent in the domestic market in October 2019 after a continuous 11-month low. 

According to data from the Society of Indian Automobile Manufacturers (SIAM) around 2,85,027 cars were sold in the domestic market in October 2019, compared to 2,84,223 cars sold in October 2018.
 
However, in October 2019, passenger car sales have registered a decline of 6.34 per cent. The utility vehicle sales have registered a growth of 22.22 per cent in October 2019 over the same period last year. Apart from this, sales of vans too fell by 35.08 per cent.

As per SIAM, the October sales figures may be a relief for the car market. 

But all other categories like commercial vehicle, three-wheeler and two-wheeler have not received any relief on the sales front for 12 consecutive months.

Sales of commercial vehicles, three-wheelers and two-wheelers have fallen for the 12th consecutive month. Commercial vehicle sales have registered a decline of 23.31 per cent in October 2019. 

Two-wheeler sales in the domestic market during October 2019 were down by 14.43 per cent. SIAM President Rajan Wadera said that retail sales are better in this festive season than in the previous festive season. The main reason for this was the launch of new models and better finance facilities. Due to the positive attitude of customers, sales were expected to be better during November and December as compared to the same period last year.

Among all the sales figures, the concern was still most about two-wheelers. Two-wheeler sales fell by 14.43 per cent in October 2019 as compared to October 2018. The sale of two-wheelers was seen directly related to the rural economy. In such a situation, the decline in the sales of two-wheelers for 12 consecutive months was worrying. 

Wadera said this time in some states there were flood conditions till October. “Apart from this, crops of farmers were damaged in many states. In such a situation, we hope that during the coming months, sales of two-wheelers will increase in rural areas,” he said.

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