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Passenger car sales in July fell 3.86%, industry sees ‘green shoots’

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NEW DELHI: Domestic market passenger car sales in July plummeted 3.86 percent to 1.82,779 units from 1.90,115 units in a one-year period, according to data released by SIAM on Tuesday.
Tri-wheeler sales were 12,728 units in July 2020 compared to 55,719 units in July 2019, marking a decrease of 77.16 percent.
Two-wheeler sales were 12.81,354 units in July 2020, compared to 1,511,717 units in July 2019, marking a decrease of 15.24%.
“July was significantly better than previous months and instilled some confidence in the industry. Many OEMs have seen an improvement in sales over the past few months, and this returns a feeling of determination to the industry, ”said Rajesh Menon, SIAM CEO.
“After a few consecutive months of falling sales in a post-Covid scenario, there are signs of Green-Shoots in passenger cars and two-wheelers, where the year-on-year decline is much less than in previous months. The sales figures in the month of August would indicate, if this is a sustainable demand and not just a repressed demand ”, said Rajan Wadhera, president of SIAM.

Times of India

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