The slowdown in the Indian auto industry continues and the month of February brought no relief. The auto industry recorded a decline in sale...
The slowdown in the Indian auto industry continues and the month of February brought no relief. The auto industry recorded a decline in sales of 18.14 per cent during February 2020, selling 1,646,332 vehicles as compared to 2,034,597 units sold in the corresponding month last year. Sales of passenger cars went down by 7.61 per cent at 2,51,516 units as compared to 2,72,243 units in the same month last year. However, the sales of utility vehicles increased by 0.10 per cent in February 2020 as compared to February 2019.
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Rajesh Menon, Director General, Society Of Indian Automobile Manufacturers stated, "The Automobile industry continues to face hardship due to steeper decline in Production and Wholesale dispatches in all segments in February 2020."
Utility vehicles increased by 0.10 per cent in February 2020 as compared to February 2019.
Passenger Vehicle sales in the period of April to February were down by 14.68 per cent at 26,32,665 units as compared to 30,85,528 units during the same period last year. The industry produced a total 20,498,128 vehicles including passenger cars, commercial vehicles, Three-wheelers, Two-wheelers and Quadricycle in April-February 2020 against 24,358,082 in the same period with a decline of 13.29 per cent.
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Two-wheelers sales witnessed a de-growth of 19.82 per cent at 12,94,791 units
Rajan Wadhera, President, SIAM, said "Supply chain disruptions from China is also a concern, which may impact the production plans for companies going forward. The Auto Industry is grateful to the Government for issuing a notification of Force Majeure for Coronavirus and 24x7 clearance of shipments at all customs formations."
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Even two-wheelers sales witnessed a de-growth of 19.82 per cent at 12,94,791 units compared to 16,14,941 units sold a year ago. Sales of three wheelers in the same period were down by 31.02 per cent at 41,300 units as compared to 59,875 units. In the corresponding month, commercial vehicle sales witnessed a decline of 32.90 per cent selling 58,670 units as compared to 87,436 units.
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