Wednesday, 12 June 2019
Passenger car sales in the country stood at 1,47,546 units last month, marking a year-on-year decline of 26.03 per cent, data from industry body SIAM or Society of Indian Automobile Manufacturers showed. Total passenger vehicle sales - which include passenger cars, utility vehicles and vans - declined 20.55 per cent to 239,347 units in May 2019, according to SIAM. The data comes after the country's largest carmaker - Maruti Suzuki India - lowered its sales growth forecast for financial year 2019-20 citing an industry-wide weakening of demand.
In the utility vehicles segment, the sales fell 5.64 per cent to 77,453 units in May 2019. Van sales declined last 27.07 per cent to 14,348 units.
Total sales of the country's automobile sector declined 8.62 per cent to 2,086,358 units across segments and categories last month, the SIAM data showed.
The sector has been moving towards inventory correction even as it invests in R&D for upcoming safety norms and electric vehicles, news agency IANS quoted Vishnu Mathur, director general, SIAM, as saying.
Total domestic sales in the commercial vehicles segment fell to 68,847 units in May 2019, as against 76,517 units in May 2018 - marking a drop of 10.02 per cent. This includes light, medium and heavy commercial vehicles, and passenger and goods carriers.
Overall two-wheeler sales - including scooters, motorcycles and mopeds - decreased 6.73 per cent to 1,726,206 units in May. Three-wheeler sales - passenger as well as goods carriers - dropped 5.76 per cent to 51,650 units.
Production in the auto sector also slowed down to 3,15,168 units in May, marking a year-on-year decline of 12.23 per cent.
In the first two months of the financial year (2019-20), total production stood at 4,879,375 units, down 9.31 per cent compared to the year-ago period (April-May 2018). This includes passenger vehicles, commercial vehicles, three wheelers, two wheelers and quadricycles.
While total exports, across segments and categories, edged 0.49 per cent lower to 396,833 units in May, those in the commercial vehicles segment halved to 3,581 units from 8,055 in May 2018.