Business

Slowdown continues: Domestic passenger cars sales plunge 36% in July

Punjab News Express | August 13, 2019 12:06 PM

NEW DELHI: The slump in domestic passenger cars' sales continued with the segment's off-take plunging by 35.95 per cent in July.

According to industry observers, high cost due to GST, low demand, lack of adequate liquidity continued to dent purchases.

According to the Society of Indian Automobile Manufacturers (SIAM), passenger cars sales in the domestic market dropped to 122,956 units from 191,979 units sold during July 2018.

Among the other sub-segments of passenger vehicles, the number of utility vehicles sold in India went down by 15.22 per cent to 67,030 units in July 2019, while 10,804 vans were sold last month, down 45.68 per cent from the corresponding month of 2018.

Overall, passenger vehicle sales declined 30.98 per cent in July to 200,790 units from 290,931 units.


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