PV logs worst ever H1 sales, motorcycle sales dive steepest in last two decades
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Within the segment, motorcycle sales nose-dived 23.29 per cent, witnessing worst fall in nearly two-decades.
Within the segment, motorcycle sales nose-dived 23.29 per cent, witnessing worst fall in nearly two-decades.

New Delhi: In a first, the Indian automobile industry has observed worst ever half-yearly sales, especially in the passenger vehicle segment with an overall decline of 23.56 per cent to 1,333,251 units in the first six months of the ongoing fiscal.

The overall half-yearly sales dived 17.08 per cent to 11,736,976 units in April-September this year, according to data released by the Society of Indian Automobile Manufacturer (SIAM).

For the month of September, passenger vehicles witnessed a de-growth 23.69 per cent to 223,317 units. Passenger cars which recorded the steepest decline of 41 per cent in August 2019, tanked 33.4 per cent to 131,281 units in continuation with the year long downfall within the segment.

IHS Markit has recently forecasted the sales to remain subdued this year, although there is some improvement in sales month-on-month basis.

Category Domestic Sales
Segment 2018 2019 % change
Passenger Vehicles (PVs) 292,660 223,317 -23.69
Commercial Vehicles (CVs) 95,870 58,419 -39.06
Three wheelers 69,066 66,362 -3.92
Two wheelers 2,126,445 1,656,774 -22.09
Total 2,584,062 2,004,932 -22.41

Two-wheelers, on the other hand, went southbound with the monthly sales of 1,656,774 units as compared to 2,126,445 units in September 2018, a dip of 22.09 per cent. Within the segment, motorcycle sales nose-dived 23.29 per cent, witnessing worst fall in nearly two-decades.

The two-wheeler industry is still grappling high inventory pile-up on the back of poor rural economy.

Commercial vehicles witnessed the steepest dip of 39 per cent among categories to 58,419 units. Among the segment, Medium & Heavy Commercial Vehicles (M&HCVs) reported the first ever decline of 62 per cent last month with sales of 14,855 units as compared to 39,210 units in the same month last year.

The economic slowdown in several sectors, coupled with the monsoon effect, has hindered truck movement in the second quarter of financial year 2019-2020.

According to the corporate rating agency, ICRA, domestic commercial vehicle industry has been facing a slowdown in demand and declining sales over the past two-three quarters primarily due to the economic slowdown and surplus capacity despite efficiency gains.

Overall domestic automobile sales plummet 22.41 per cent in September 2019 marking a consecutive tenth month decline across segments. The overall sales stood at 2,004,932 units last month as against 2,584,062 units in September 2018.

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