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Domestic car sales skid 25 pc to 1.4 lakh in June: SIAM

Domestic car sales skid 25 pc to 1.4 lakh in June: SIAM

New Delhi: Domestic passenger vehicle sales dropped by 17.54 percent to 2.25 lakh units in June from 2.73 lakh units in the same month of the previous year, data released on Wednesday by an apex industry body showed.

Domestic car sales were down 24.9 percent to 1.39 lakh units as against 1.83 lakh units in June 2018, according to the Society of Indian Automobile Manufacturers (SIAM).

Motorcycle sales declined 9.57 percent to 10.84 lakh units as against 11.99 lakh units a year earlier. Two-wheeler sales in June declined 11.69 percent to 16.49 lakh units compared to 18.67 lakh units in the year-ago month.

On the other hand, sales of commercial vehicles were down 12.27 percent to 70,771 units in June against 80,670 units in the same period a year ago.

SIAM said vehicle sales across categories marked a decline of 12.34 percent to 19.97 lakh units from 22.79 lakh units in June 2018.

In the April-June period, passenger vehicle sales declined 18.42 percent to 7.12 lakh units compared to 8.73 lakh units in the year-on period.

Vehicle sales across all categories declined by 12.35 percent to 60.85 lakh units in the April to June period against 69.42 units in the same period of last year.

Experts say weak auto sales are largely due to a severe liquidity crunch in the non-banking financial sector.

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