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PV sales dip 17% in April, log steepest decline in nearly 8 yrs

Tuesday, May 14, 2019

Passenger vehicle sales in India dropped by 17.07% in April, the steepest fall since October 2011, as weak customer sentiment led by liquidity crunch, uncertainty revolving elections and high product prices hit sales.

The domestic sales declined for a sixth straight month in April to 2,47,541 units against 2,98,504 units in the year-ago month. It is the worst dip in PV sales since October 2011 when sales had dropped by 19.87%.

All major segments, including two-wheelers and commercial vehicles, witnessed a decline in sales in April, according to data released by the Society of Indian Automobile Manufacturers (SIAM).

Domestic car sales declined 19.93% to 1,60,279 units last month compared to 2,00,183 in April 2018. Motorcycle sales declined 11.81% to 10,84,811 units last month as against 12,30,046 units in the year-ago month.

Total two-wheeler sales in April declined 16.36% to 16,38,388 units compared to 19,58,761 units in the year-ago month. Similarly, commercial vehicle sales were down 5.98% to 68,680 units in April. Vehicle sales across categories registered a decline of 15.93% to 20,01,096 units from 23,80,294 units in April 2018, SIAM said.

"In the last ten years, we have not seen anything like this when all the segments are down. The start of the new financial year has not turned out to be very good," SIAM Deputy Director General Sugato Sen told reporters.

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