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Passenger Vehicle Sales Fall Nearly 24% In September: Industry Body SIAM
Sales of passenger cars fall 33.40% in September, SIAM data shows Industry body's data highlights longest ever streak of falling auto sales SIAM hopes government measures to lead to growth momentum
11 Oct 2019, 12:39 PM IST 
Auto sales news: Passenger car sales fell 33.40% to 1,31,281 units last month, SIAM data showed
- A total of 1,31,281 passenger cars were sold in the country last month, marking a fall of 33.40 per cent compared to the corresponding period a year ago, the SIAM data showed.
- A total of 20,04,932 passenger as well as commercial vehicles were sold in September, marking a fall of 22.41 per cent, while production decreased 18.29 per cent to 2,406,640 units. That included passenger vehicles, utility vehicles, vans, two- and three wheelers and commercial vehicles.
- The car and utility vehicles segment was largely impacted by slowing economy, low consumer sentiment, floods in key markets, a drop in rural demand and increase in insurance cost, SIAM said in a presentation.
- "We are preparing for best-case and worst-case scenarios ... worst case there will be more production and job cuts," said SIAM president Rajan Wadhera.
- Two wheeler sales in the domestic market dropped 22.09 per cent year-on-year to 1,656,774 in September, it showed.
- Total sales of commercial vehicles - including light, medium and heavy carriers of passengers and goods - fell 39.06 per cent to 58,419 units, according to SIAM.
- In the first six months of current financial year, a total of 1,66,45,330 vehicles were produced. That included passenger vehicles, commercial vehicles, two- and three-wheelers, and quadri-cycles, and marked a fall of 13.32 per cent over the corresponding period a year ago.
- Exports of utility vehicles, however, increased 28.75 per cent to 13,235 units in September. That led to a 5.64 per cent rise in total passenger vehicle exports to 61,333 units, SIAM data showed.
- Car and auto component makers have cut lakhs of jobs and halted some production as the industry grapples with various challenges amid a broader economic slowdown. The government stepped in last month, announcing a corporate tax cut to boost manufacturing and lift growth.
- The auto industry is getting ready for the implementation of BS-6 emission norms, SIAM said. It urged oil companies to make BS-6 fuel available across the country from February 1.
