New Delhi, July 14
Declining for the ninth straight quarter, passenger car gross sales in India plunged 78.43% within the April-June interval this yr hit by the coronavirus pandemic, making it the longest slowdown in 20 years, auto business physique SIAM mentioned on Tuesday.
The business automobiles phase additionally noticed a decline of 84.81% in gross sales in the course of the interval, the fifth quarter in succession of decline, which can also be the longest interval of slowdown the phase has witnessed within the final 15 years, in accordance with the most recent knowledge by the Society of Indian Automobile Manufacturers (SIAM).
“Currently, we are going through a very difficult phase due to the coronavirus… We have been suffering hugely on the demand side since last year; but this quarter, the degrowth is due to Covid. It is going to be very harsh on the auto sector,” SIAM president Rajan Wadhera mentioned.
He mentioned the outlook for the auto sector appears to be like grim as a result of decline in gross sales anticipated to vary in 26-45% throughout numerous car segments and subsequently, there’s a want for sturdy stimulus from the federal government as was finished prior to now when the sector was hit by slowdown. — PTI
Commercial car gross sales fall 85%
- The business automobiles phase additionally noticed a decline of 84.81% in gross sales in the course of the interval, the fifth quarter in succession of decline
- It can also be the longest interval of slowdown the phase has witnessed prior to now 15 years