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Passenger Vehicle Sales Drop 50% In June Amid COVID-19 Pandemic: Industry Body SIAM

Passenger Vehicle Sales Drop 50% In June Amid COVID-19 Pandemic: Industry Body SIAM

Passenger vehicle sales in the country declined 49.59 per cent last month compared with the corresponding period a year ago, industry body Society of Indian Automobile Manufacturers (SIAM) said on Tuesday. SIAM's data highlights weakness in the country's automobile market, already struggling against poor demand, as the coronavirus pandemic-related lockdown of more than two months kept consumers from making big purchases. While data on BMW, Mercedes, and Volvo Auto was not available, only quarterly data was available for Tata Motors, SIAM said.

Passenger car sales fell 58 per cent to 55,497 in June from a year ago, while sales of two wheelers - widely seen as an indicator of the health of the rural economy - fell 39 per cent, the industry body said.

Total exports of passenger vehicles, three-wheelers and two-wheelers witnessed a decrease of 56.31 per cent, 34.98 per cent and 34.25 per cent respectively in June.

"Inordinate delays in clearance due to congestion at ports could eventually impact manufacturing of vehicles in India. The industry is piecing itself together as growth is limping back; any further disruption at this juncture is best avoided," said Rajan Wadhera, president, SIAM.

In the quarter ended June 30, sales tanked 78.43 per cent to 1,53,734 passenger vehicles compared to the year-ago period.