Domestic gross sales of passenger autos fell by 6.2 % in January

by Jeremy Spirogis
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Greater Noida: Domestic gross sales of passenger autos have seen a decline of 6.2 % in January. The Society of Indian Automobile Manufacturers (SIAM) gave this info on Monday.

The important motive for that is the moderation within the development price of gross home product (GDP) and the weak demand for autos. According to SIAM information, a complete of two,62,714 passenger autos had been offered within the home market in January. Whereas in January 2019 the determine was 2,80,091.

Car gross sales declined by 8.1 %: Car gross sales declined by 8.1 % to 1,64,793 autos throughout this era as in comparison with 1,79,324 automobiles offered in January final 12 months. SIAM stated that gross sales of varied classes of autos declined by 13.83 % to 17,39,975 autos in January as in comparison with 20,19,253 autos offered in January final 12 months.

Siam President Rajan Vadhera stated, there’s stress on automobile gross sales to remain beneath the GDP development price and the rising price of conserving autos. <! –

                 Vehicle producers have modified from BS-Four to BS-6.

Two-wheeler gross sales down by 16.06%

According to SIAM information, two-wheeler gross sales declined by 16.06% to 13,41,005 models. Whereas in January final 12 months, this determine was 15,97,528 models. Motorcycle gross sales fell 15.17% to eight,71,886 autos and scooter gross sales fell 16.21% to 4,16,594 autos.

Commercial automobile gross sales fell 14 %

According to SIAM information, industrial automobile gross sales fell 14.04 % to 75,289 autos in January 2020 from 87,591 autos in January 2019. SIAM Director General Rajesh Menon stated that wholesale gross sales of all classes of autos besides the three-wheeler class have fallen.

Vehicle business frightened by Corona virus havoc

The Indian auto business is apprehensive concerning the provide of car parts from China because of the unfold of the Corona virus, however its actual state of affairs will probably be revealed just a few days later when the factories in China will resume. SIAM stated that it’s amassing information and knowledge from its member firms and it’ll take a couple of days to investigate it.

Only after this, it is going to be recognized that there was any disruption within the provide of spares as a result of Corona virus, what’s the impact if it has occurred. SIAM Director General Rajesh Menon stated that there are first, second and third grade suppliers within the auto business sector and details about all these is but to be recognized.

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