Indian Auto Sector Collapses, Overall Sales Of Vehicles Goes Down By 23.55 Per Cent in August 2019

Overall vehicles sales have registered a decline of 23.55 per cent in the month of August 2019. It is to be noted that the massive fall in overall vehicles sales comes due to the worst slowdown in India’s auto sector. According to a data released by the Society of Indian Automobile Manufacturers (SIAM) released on Monday, vehicles across categories registered a decline of 23.55 per cent to 18,21,490 units from 23,82,436 units in August 2018. 

The data released by SIAM further stated that India's domestic passenger vehicle sales fell for the tenth straight month in August, declining 31.57 per cent to 1,96,524 units from 2,87,198 units in the year-ago period. On the other hand, domestic car sales were down 41.09 per cent to 1,15,957 units in August 2019 as compared to 1,96,847 units in August 2018.  

Also, Motorcycle sales last month declined by 22.33 per cent to 9,37,486 units as compared to 12,07,005 units a year earlier. The total two-wheeler sales in August 2019 declined 22.24 per cent to 15,14,196 units compared to 19,47,304 units in the year-ago month.  

Sales of commercial vehicles were down 38.71 percent to 51,897 units in August, the SIAM added. However, according to the SIAM, overall automobile exports grew by 2 per cent. 

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HIGHLIGHTS

• Overall vehicles sales registered decline of 23.55 per cent in August 2019.
• India's domestic passenger vehicle sales fell for the tenth straight month in August, declining 31.57 per cent.
• Motorcycle sales last month declined by 22.33 per cent.