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Reverse Gear: August auto sales slump 23.55%

  •   Mon, Sep 09 2019 11:55:53 AM

New Delhi, Sep 9 (IANS): The slump in the domestic automobile sector continued unabated in August as the overall sectoral off-take plunged 23.55 per cent.

The industry which is suffering from a high GST rate and lack of adequate liquidity had recorded a slump of 18.71 per cent in July, the highest monthly sales de-growth in the last 19 years.

On Monday, data furnished by the Society of Indian Automobile Manufacturers (SIAM), showed that total sales of the Indian automobile sector declined by 23.55 per cent during July to 1,821,490 units, from 2,382,436 units sold during the corresponding month of the previous year.

According to data, passenger car sales plunged by 41.09 per cent to 115,957 units against 196,847 units sold in August 2018.

The utility vehicles' sale declined by 2.20 per cent to 71,478, whereas van's off-take went down by 47.36 per cent to 9,089 units against the year-ago month.

Overall, passenger vehicle sales declined by 31.57 per cent in August to 196, 524 units against 287,198 units in the year-ago corresponding month.

In the commercial vehicle segment, sales were down by 38.71 per cent to 51, 897 units.
  

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Comment on this article

  • Roshan, Mangaluru

    Mon, Sep 09 2019

    India has inherent strength, which is its middle class. Middle class absorbs the pain and gain both to take the country forward. It is the same middle class which kept the corridors of power in control, with their maturity and independent thinking.

    This middle class has gone to a biggest transformation since 2014. It is no longer independent in its thinking. You can see 100's people sharing, a facebook post or whatzup message with some religious text, asking to forward the message, where doing so, would get them benefit. Similarly, a soldiers picture to prove your nationalism, cash rewards to mention DOB etc. etc. The person sitting behind those posts has one thing in Mind, to make money out of these guys stupidity. It proves, more and more people loosing the power to think rationally.

    Economic growth slump is part of that problem. Wrong policies been endorsed, wrong people are getting endorsed. There a million people saying yea, Peacock reproduction happens with tear drops, as one judge said. It is time to face the reality of endorsing what is wrong.

    DisAgree Agree [6] Reply Report Abuse

  • Kiran Dsouza, Mangalore

    Mon, Sep 09 2019

    Almost all the people including me are waiting to buy Cheaper & good quality Electric Vehicles with good height from the road.
    Our roads are made for Trucks & Buses, not for smaller vehicles.
    Bad roads & who will afford to buy a vehicle by accumulating the hard earnerd money in lakhs together on vehicle in such a bad roads? Insurance companies take premiums promptly, but once there is a claim they will ask many details, make you to roam around offices, finally you will not get half of the estimated amount for repair.
    On top of that new law for hefty fines, tell me who can afford to own a vehicle in these circumstances?

    DisAgree Agree [3] Reply Report Abuse

  • Deshbhakht, Mangalore

    Mon, Sep 09 2019

    You are mistaken somewhere - our roads can't be high or low, they are where/how they should be (except for the potholes of-course) its the vehicles that are so low that they scrap the mortar while crossing a hump. The manufacturers should design their motors to be a bit higher.

    DisAgree Agree Reply Report Abuse

  • Deshbhakht, Mangalore

    Mon, Sep 09 2019

    Income of an average MP in India is Rs. 2 crores per year, after Modi increased it by 200% when he came to power. From where is it paid ? From the GST and our IT. Will he reverse the increment now since the economy is not doing well ?

    Dare you ask your leader !

    DisAgree Agree [12] Reply Report Abuse


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