Monthly passenger vehicle sales log worst-ever drop in August

Passenger vehicle sales show worst monthly decline since at least 1997 fell over 31% in August

Passenger vehicle sales show worst monthly decline since at least 1997 fell over 31% in August

Mumbai: Sales of cars and SUVs in India declined for a 10th month in August, as the worst slump in nearly two decades for the country's auto sector shows no sign of letting up.

Passenger vehicle sales also declined by around 32 per cent to 1,96,524 units during last month against 2,87,198 units in the corresponding month past year. Truck and bus sales dropped 39%.

In the two-wheeler segment, both scooter and motorcycle sales declined by a little more than 22 per cent YoY. Previously, the worst decline in the segment was registered in July this year when wholesales had fallen 30.98 per cent to 2,00,790 units.

India's monthly passenger vehicle and auto sales recorded their steepest fall ever in August, according to data released by an industry body on Monday, highlighting the continued slowdown in the sector amid assurances by the government for revival.

Deferment in purchases by consumers in anticipation of GST revision and steep discounting ahead of BS-VI norms rollout further dented demand, he said.

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However, sales of new launches such as MG Hector SUV and the Kia Seltos, improved slightly but the compact SUV category recorded a de-growth of 2.20 per cent, with total utility vehicle sales touching 71,478 units as against 73,085 units previous year.

In the PV segment, market leader Maruti Suzuki India posted 36.14 per cent decline in its August sales at 93,173 units.

Total two-wheeler sales in August declined 22.24% to 15,14,196 units compared to 19,47,304 units in the year-ago month.

Vehicle sales across categories registered a decline of 23.55 percent to 18,21,490 units from 23,82,436 units in August 2018, it added. Commercial vehicle sales were down 38.71 per cent to 51,897 units in August compared with 84,668 units in August 2018.

Honda Cars India and Tata Motors, in particular, reported the most dismal numbers, selling less than half of the units they sold a year ago in August.

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