Auto Sector Crisis: Vehicle Sales Down by 13.08% in December 2019, Production Declines by 5.22%, Says SIAM Report

New Delhi, January 10: The sale of vehicles in December 2019 dropped by 13.08% while passenger vehicle sales slumped by 1.24% during the same time. According to reports by the Society of Indian Automobile Manufacturers (SIAM), while passenger vehicle sales were down by 1.24%, the sale of commercial vehicles dipped by 22.10% in December 2019. A dip of 8.40% has been registered in the sales of Passenger Cars in December 2019 as compared to December 2018. A total of 1,816,112 vehicles, including passenger, commercial, three-wheelers, two-wheelers and quadricycle were produced  this year as against 1,916,213 in December 2018, witnessing a total decline of 5.22%.

The auto sector continues to be one of the worst-hit in the economic crisis that has gripped the nation. According to SIAM, the two-wheelers saw a dip in sales by 16.60% in December 2019 as compared to 2018 while three-wheelers sales saw an increase of 22.10% in December 2019 as compared to the previous year. The total exports of passenger vehicles, three-wheelers and two-wheelers grew by 9.90%, 5.34% and 9.91% respectively, in December 2019 as compared to December 2018. Auto Crisis in India Is Due to Bad Planning And Automakers Should Stop Acting as Cry Babies, Says N Srinivasan of India Cements.

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The sales of Utility Vehicles increased by 30.02% in December 2019 as compared to December 2018 while the sales of Vans dipped by 53.36% in December 2019 as compared to 2018. According to the report, the sales of Commercial Vehicles witnessed a dip of 12.32% in December 2019 as compared to the previous year.

(The above story first appeared on LatestLY on Jan 10, 2020 02:40 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).