The auto industry, which has been going through a slowdown for a long time, has suffered another setback. In fact, in November, the auto sector's total sales fell by 12.05 percent on an annual basis. At the same time, sales have come down by about 16 per cent in the period from April to November. Production has also fallen by 13.75 percent during this period. In the midst of these figures, the auto sector shares lost nearly 1 per cent.
What do the November figures say?
According to data from the Society of Indian Automobile Manufacturers (SIAM), total sales in November were 1,792,415 vehicles. Whereas in the same time a year ago, this sales were 2,038,007 vehicles. Sales of passenger vehicles declined marginally by 0.84 percent to 2,63,773 units in November. Earlier, in November 2018, passenger vehicle sales were 2,66,000 units.
10.83 Percent Decline in Car Sales
Car sales in the Domestic market declined by 10.83 per cent to 1,60,306 units from 1,79,783 units in November 2018. Similarly, motorcycles sales also fell by 14.87 per cent to 8,93,538 units from 10,49,651 units in the same month a year ago. At the same time, two-wheeler sales also fell by 14.27 per cent to 14,10,939 units from 16,45,783 units in the same period last year. Similarly, commercial vehicle sales fell 14.98 percent to 61,907 units.
Let us tell you that recently the government has said that the sector is going through a transition period, but the jobs are not in danger. According to the Minister of State for Heavy Industries Arjun Ram Meghwal, as per the order of the Supreme Court, by April 1, 2020, we have to go to BS4 to BS6 standard and also move towards electronic vehicles. So there is nothing to worry about nor are the jobs in danger.
