The growth of the country's auto industry has been stopped. According to the organization of vehicle manufacturers SIAM, sales of passenger vehicles in the country increased by only 2.7 percent in 2018-19. The reason for sluggish growth is uncertainty about the cash crisis, high prices of vehicles and the outcome of upcoming Lok Sabha elections. However, in the coming financial year, sales of passenger vehicles are expected to increase.
According to SIAM, 5 to 7 percent of two-wheeler sales in 2019-20, 10 to 12 percent in commercial vehicles sales and tricycle sales are expected to increase by 7 to 9 percent. SIAM President Rajan Wadhera said, "If we look at the positive side then we have maintained an increase in sales even if it has not been in the higher unit number or tenth digit, and it is very low in one point. The highest sales and production figures are. "
Wadhera said, "We had to face many challenges in the past year, the worst was due to high prices of raw material, which forced the companies to increase the prices of vehicles, which affected the demand, Making insurance mandatory and the cash crisis in financing companies affected sales."
Know What Facts and Datas Say
In the financial year 2018-19, domestic sales of cars in the country increased by 2.05 percent to 22,18,549 vehicles in 2018-19, which was 21,74,024 vehicles in 2017-18. At the same time, the utility vehicle sales of 9,41,461 vehicles. In 2017-18, the figure was 9,22,322 vehicles. During this period, an increase of 2.08 percent has been recorded. However, passenger vehicles exports decreased 9.64 per cent from 7,48,366 vehicles in 2017-18 to 6,76,193 vehicles in 2018-19.
SIAM said that in the current financial year, passenger vehicle sales are expected to increase by 3 to 5 percent. During the year 2018-19, the passenger vehicle sales of Maruti Suzuki India increased by 5.25 per cent to 17,29,826 units, while rival Hyundai Motor India's passenger vehicle sales rose 1.68 per cent to 5,45,243 units. Mahindra & Mahindra's passenger vehicle sales increased 2.21 percent to 2,45,351 vehicles. If the total sales of two-wheeler vehicles were 4.86 per cent more than 2,11,81,390 units, it was 2,02,00,117 units in the previous financial year. Sales of commercial vehicles were up 17.55 percent to 10,07,319 vehicles, which was 8,56,916 vehicles in 2017-18.
