The auto slump continues unabated. India's domestic passenger vehicle sales fell for the tenth straight month in August, declining 31.57 per cent to 1,96,524 units from 2,87,198 units in the year-ago period.
Domestic car sales were down 41.09 per cent to 1,15,957 units as against 1,96,847 units in August 2018, according to a release by SIAM.
According to SIAM, commercial vehicle sales also fell 38.7 per cent at 51,897 units and passenger vehicle sales dipped 31.6 per cent at 1.96 lakh units against the same period last year. Motorcycle sales last month declined 22.33 per cent to 9,37,486 units as against 12,07,005 units a year earlier. However, the exports of vehicle registered a growth of 2.4 per cent at 4.2 lakh units.
The numbers are in line with dismal sales figures of major vehicle manufacturers in the country. Impacted by weak consumer demand, country's largest carmaker
Maruti Suzuki has reported a 36 per cent YoY decline in sales in August.
Hyundai Motor India also reported a double-digit decline of 17 per cent in sales. Honda Cars and Tata Motors' sales have also reduced by half in comparison to the units they sold last year in August.
Two-wheeler makers including Hero MotoCorp, Honda Motorcycle and Scooters India, Bajaj Auto and TVS Motor also had reported a decline in sales during August.