Domestic passenger vehicle sales drop 6.2% in JanuaryFebruary 10, 2020 11:29
Domestic passenger vehicle sales declined 6.2 per cent in January as vehicle demand continued to be stressed by rising cost of ownership and slower GDP growth, automobile industry body SIAM said on Monday. Passenger vehicle sales last month stood at 2,62,714 units against 2,80,091 units in the year-ago month, according to data released by the Society of Indian Automobile Manufacturers (SIAM).
Car sales last month were also down 8.1 per cent at 1,64,793 units compared with 1,79,324 units in the January last year. Vehicle sales across categories registered a decline of 13.83 per cent to 17,39,975 units from 20,19,253 units in January 2019, SIAM said.
"Sales of vehicles continue to be stressed due to rising cost of vehicle ownership and slower growth in GDP," SIAM President Rajan Wadhera said. Vehicle prices have gone up as manufacturers gear up for the transition to stricter emission norm BS-VI from BS-IV beginning April 1. Besides, many companies had increased prices in January citing rising input costs. -- PTI