Car sales continue downhill trip
Domestic passenger vehicle sales declined for the second straight month with a 2.46 per cent drop in August because of a high base effect and partial impact of floods in Kerala, automobile industry body SIAM said on Tuesday.
- Published 12.09.18
New Delhi: Domestic passenger vehicle sales declined for the second straight month with a 2.46 per cent drop in August because of a high base effect and partial impact of floods in Kerala, automobile industry body SIAM said on Tuesday.
"There is the impact of a high base effect as sales last year from July to September were high after the GST implementation," SIAM director-general Vishnu Mathur said here.
Besides, there is some impact of floods, specially in Kerala, which is a big market, he said.
According to data released by the Society of Indian Automobile Manufacturers (SIAM), domestic passenger vehicle sales stood at 2,87,186 units last month against 2,94,416 units in August last year. Car sales declined 1.03 per cent to 1,96,847 units last month against 1,98,892 units in August last year.
Sales in July had declined 2.71 per cent to 2,90,960 units from 2,99,066 units in the same month of the previous year. Car sales had also declined marginally to 1,91,979 units in July compared with 1,92,845 in the year-ago month.
Mathur, however, said the current high fuel prices had little impact on vehicle sales. "Fuel prices keep fluctuating and do not have an immediate impact on sales, although in the long term it can have some impact," he said.
During the month, market leader Maruti Suzuki recorded a 3.55 per cent decline in PV sales at 1,45,895 units. Rival Hyundai Motor India also saw a 2.76 per cent dip at 45,801 units. Tata Motors, however, posted a 24.98 per cent jump in its passenger vehicle sales in August at 20,323 units.
According to SIAM, motorcycle sales last month grew 6.18 per cent to 12,06,512 units compared with 11,36,322 units in August 2017. Scooter sales were marginally down at 6,69,416 units against 6,73,444 units in August last year.