Corona virus Covid19 Impression On Automobile Gross sales Home Passenger Automobile Gross sales Down 51 In March SIAM

Domestic Passenger Vehicle Sales Down 51% In March: Industry Body SIAM

Home passenger automobile gross sales dropped 51 per cent final month, knowledge from business physique SIAM or Society of Indian Car Producers confirmed on Monday. In its month-to-month report, SIAM mentioned passenger automobile gross sales stood at 1,43,014 items final month, as towards 2,91,861 items within the corresponding interval a 12 months in the past. The gross sales knowledge comes as an already-battered auto sector struggles towards weak demand as a result of fallout from the coronavirus pandemic.

Home passenger automobile gross sales had fallen 7.61 cent in February, in response to SIAM knowledge launched final month.

SIAM had mentioned final month that automobile manufacturing throughout all classes is more likely to be critically hampered as a result of coronavirus outbreak in China contemplating many automakers in India import about 10 per cent of their uncooked supplies from the neighbouring nation.

“Car business witnessed certainly one of its sharpest decline in home gross sales in March 2020 resulting from subdued demand and client sentiments which was additional aggravated by the COVID-19 outbreak within the nation,” mentioned Rajesh Menon, director basic, SIAM.

Gross sales of economic autos – mild, medium and heavy carriers of passengers and items – declined by 88.05 per cent to 13,027 items in March 2020 in comparison with 109,022 items in March 2019.

Three-wheeler gross sales decreased by 58.34 per cent to 27,608 items in March 2020 in comparison with 66,274 items in March 2019.

Two-wheeler gross sales fell 39.83 per cent to 866,849 items in March 2020 in comparison with 1,440,593 items in March 2019.

Complete manufacturing of autos, together with passenger autos, industrial autos, three wheelers, two wheelers and quadricycles declined by 33.61 per cent to 1,447,345 in March 2020, as towards 2,180,203 in March 2019

On a year-on-year foundation, the passenger autos gross sales fell by 17.82 per cent to 2,775,679 items in April 2019-March 2020, in comparison with 3,377,389 items in April-March 2019. And the gross sales of economic autos stood at 717,688 items in April-March 2020 in comparison with 1,007,311 items in April- March 2019, which marked a decline of 28.75 per cent.

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