Passenger vehicle sales fall 51% in March
Domestic passenger vehicle sales halved in March ...
Domestic passenger vehicle sales halved in March compared to the same period of last year due to the coronavirus crisis and the ensuing nationwide lockdown. A total of 1,43,014 passenger vehicles were sold in March 2020 in India, 51 per cent lower than the 2,91,861 units sold in March 2019, according to the data released by the Society of Indian Automobile Manufacturers (SIAM).
Commercial vehicle sales plunged 88 per cent to 13,027 units last month, compared to 1,09,022 units during the year ago period. Three-wheeler sales stood at 27,608 units, 58.34 per cent lower on a year-on-year basis. Similarly, two-wheeler sales were recorded at 8,66,849 units in March 2020, compared to 1,440,593 units in March 2019, a decline of 39.83 per cent.
Commenting on the March data, Rajesh Menon, Director General, SIAM, said: “Automobile industry witnessed one of its sharpest declines in domestic sales in March 2020 due to subdued demand and consumer sentiments which was further aggravated by the Covid-19 outbreak in the country.”
SIAM President Rajan Wadhera said that March 2020 was one of the most challenging months for the auto sector as the 21-day lockdown resulted in bringing production and sales of vehicles to a standstill in the last week.