Auto Sector gets Slight Benefit of Festive Season, Slowing down in October

Auto industry, which has been languishing for a long time, has got a slight benefit of the festive season. Latest data from SIAM shows that there has been an increase in sales of passenger vehicles in October.
Auto Sector gets Slight Benefit of Festive Season, Slowing down in October

The auto industry, which has been languishing for several months, has got some relief during the festive season. In fact, in the last October, there has been an increase in sales of passenger vehicles. Sales of passenger vehicles increased by 0.28 percent to 2,85,027 vehicles in this month. In the same month a year ago, the sales of such vehicles in the domestic market were 2,84,223 units.

However, this increase is slight in terms of festive season. Let us know that Dussehra, Dhanteras and Diwali are celebrated in October. Buying a car on this occasion is considered auspicious. This is the reason why every year the auto industry is looking forward to the festive season.

According to data from the Society of Indian Automobile Manufacturers (SIAM), car sales in the domestic market declined by 6.34 per cent to 1,73,649 cars in October. A year earlier in October 2018, it stood at 1,85,000 units. At the same time, the sales of motorcycles in October declined to 11,16,970 units, down 15.88 percent from the same month a year ago. In October last year, 13,27,758 motorcycles were sold. According to the available data of SIAM, two-wheeler sales also declined by 14.43 per cent to 17,57,264 units in October from 20,53,497 units in the same month a year ago.

Commercial vehicle sales also fell by 23.31 per cent to 66,773 units during this period. According to SIAM, except for the sales figures of utility vehicles, passenger vehicles and quadricycles, there has been a decline in sales in all other vehicle categories in October. If we talk about the sale of all categories of vehicles, then in October 2018, the vehicle sales fell by 12.76 percent to 21,76,136 units. It was 24,94,345 units in the same period a year ago.

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