NEW DELHI:
Passenger vehicle sales growth slowed to its lowest rate in last five years as liquidity tightening in the market, uncertainty ahead of elections affected consumer sentiments.
According to data released by industry body
Society of Indian Automobile Manufacturers (
SIAM), passenger vehicle sales grew 2.7% to 3,377,436 units in FY19.
In the month of March, though, passenger vehicle sales fell 2.96% to 291806 units.
Sales of
commercial vehicles last fiscal rose 17.55% to 1,007,319 units. Those of two-wheelers increased 4.86% to 21,181,390 units. Overall, vehicle sales across categories rose 5.15% to 26,267,783 units.