Passenger vehicle sales plunge 78% in April-June

New Delhi, July 14

Declining for the ninth straight quarter, passenger vehicle sales in India plunged 78.43% in the April-June period this year hit by the coronavirus pandemic, making it the longest slowdown in 20 years, auto industry body SIAM said on Tuesday.

The commercial vehicles segment also saw a decline of 84.81% in sales during the period, the fifth quarter in succession of decline, which is also the longest period of slowdown the segment has witnessed in the last 15 years, according to the latest data by the Society of Indian Automobile Manufacturers (SIAM).

“Currently, we are going through a very difficult phase due to the coronavirus… We have been suffering hugely on the demand side since last year; but this quarter, the degrowth is due to Covid. It is going to be very harsh on the auto sector,” SIAM president Rajan Wadhera said.

He said the outlook for the auto sector looks grim due to decline in sales expected to range in 26-45% across various vehicle segments and therefore, there is a need for strong stimulus from the government as was done in the past when the sector was hit by slowdown. — PTI

Commercial vehicle sales fall 85%

• The commercial vehicles segment also saw a decline of 84.81% in sales during the period, the fifth quarter in succession of decline
• It is also the longest period of slowdown the segment has witnessed in the past 15 years