The automobile industry’s production during April to August 2019 declined to just over 12 million, a 12.25 percent slump from the same period last year, data published by the Society of Indian Automobile Manufacturers (SIAM) showed.
The auto industry slowdown has continued for nine consecutive months as the sector grapples with a severe economic downturn. Major automakers such as Maruti Suzuki India, Tata Motors, Eicher Motors, and TVS Motors have reported declining sales figures for August.
The sale of passenger vehicles declined 23.54 percent during April-August year-on-year. Within the passenger vehicle category, the sales of passenger cars slumped by 29.41 percent, utility vehicles by 6.27 percent and vans by 34.04 percent, the SIAM data showed.
Commercial vehicle sale declined by 19 percent, two-wheeler sale saw a downturn of 14.85 percent and three-wheeler sales were down 7.32 percent during April-August 2019 against the same period last year.
However, exports brought some relief for the manufacturers. Overall auto exports saw a growth of 1.42 percent with two-wheelers growing 4.52 percent and passenger vehicles 4.13 percent.
Passenger vehicle sales in the country was down 31.57 percent in August YoY. The automakers sold 196,524 units against 287,198 in the same month last year.
First Published: Sept 9, 2019 12:10 PM IST
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