SIAM data shows auto sector witnessed another month of record fall in August
New Delhi, Sept 9 (IBNS): Giving a hint that the crisis in the automobile sector is deepening, the monthly passenger vehicle and car sales recorded its steepest ever fall in August, as per the data released by Society of Indian Automobile Manufacturers (SIAM) on Monday.
The industry produced a total 12,020,944 vehicles including Passenger Vehicles, Commercial Vehicles, Three Wheelers, Two Wheelers and Quadricycle in April-August 2019 as against 13,699,848 in April-August 2018, registering a de-growth (-) 12.25 percent over the same period last year, read the statement by SIAM.
Domestic Sales
The sale of Passenger Vehicles declined by (-) 23.54 percent in April-August 2019 over the same period last year.
Within the Passenger Vehicles, the sales for Passenger Cars, Utility Vehicle & Vans declined by (-) 29.41 percent, (-) 6.27 percent and (-) 34.04 percent respectively in April-August 2019 over the same period last year.
The overall Commercial Vehicles segment registered a decline of (-) 19.00 percent in April-August 2019 as compared to the same period last year. Medium & Heavy Commercial Vehicles (M&HCVs) declined by (-) 28.98 percent and Light Commercial Vehicles declined by (-) 12.70 percent in April-August 2019 over the same period last year.
Three Wheelers sales declined by (-) 7.32 percent in April-August 2019 over the same period last year. Within the Three Wheelers, Passenger Carrier sales registered a de-growth of (-) 7.25 percent and Goods Carrier declined by (-) 7.64 percent in April-August 2019 over April-August 2018.
Two Wheelers sales registered a de-growth of (-) 14.85 percent in April-August 2019 over April-August 2018. Within the Two Wheelers segment, Scooters, Motorcycles and Mopeds declined by (-) 17.01 percent, (-) 13.42 percent and (-) 20.39 percent respectively in April-August 2019 over April-August 2018.
Exports
In April-August 2019, overall automobile exports grew by 1.42 percent where Passenger Vehicles and Two Wheelers exports grew by 4.13 percent and 4.52 percent respectively. However Commercial Vehicles and Three Wheelers registered a de-growth of (-) 44.44 percent, and (-) 12.40 percent respectively in April-August 2019 over the same period last year.
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