Auto sales took a major hit in 2019 owing to a regressive downturn in the economy. However, the situation seems to be abating gradually as w...
Auto sales took a major hit in 2019 owing to a regressive downturn in the economy. However, the situation seems to be abating gradually as we inch closer to a major change in reforms in the industry in the form of emission and safety norms. The Passenger Vehicles (PV) segment which recorded a double digit decline for months before November, has witnessed a 1.24 per cent de-growth in December 2019 at 235,786 units as compared to 238,753 units a year ago. The Utility vehicle (UV) segment recorded a growth of 30.02 per cent at 85,252 units as compared to 65,566 units sold in December 2018. Sales of passenger cars went down by 8.40 per cent at 142,126 units against 155,159 units which were sold a year ago and the Vans witnessed a steep decline of 53.36 per cent at 8408 units as compared to 18,027 units which were sold in the same month previous year.
Sales of commercial vehicles (CVs) in December 2019 went down by 12.33 per cent at 66,622 units as compared to 75,984 units sold a year ago. Good carriers in the MHCV segment lead the decline recording a slump of 42.93 per cent at 16,121 units against 28,250 units, while LCVs and MHCV Passenger Carriers recorded growth. Sales of two-wheelers went down by 16.60 per cent at 10,50,038 units as compared to 12,59,007 units sold in the same month last year. The dip in the sales of two-wheelers and CVs are also attributed to low GDP and decline in per capita income, especially in rural markets. Overall, Auto sales December witnessed a slump of 13.08 per cent at 14,05,776 units as compared to 16,17,398 units sold in the same month last year.
That said, the prolonged slowdown took a toll on the annual sales in 2019. Passenger Vehicles sales were down by 12.75 per cent at 29,62,052 units between January - December in 2019 as compared to 33,94,790 units in the same period last year. Sales of CVs were down by 14.99 per cent in 2019 at 854,759 units against 10,05,502 units in 2018 while two-wheelers witnessed a slump of 14.19 per cent at 18,568,280 units against 21,640,033 units. Overall sales in 2019 dropped by 13.77 per cent at 23,073,438 units as compared to 26,758,787 units in 2018.
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