Passenger vehicle sales dip by 2.71% in July

The sale of domestic passenger vehicles in India declined by 2.71 per cent on an annual basis in July, data released by the Society of Indian Automobile Manufacturers (SIAM) on Friday revealed.

The aggregate sale of passenger vehicles went down to 2, 90,960 units in July as compared 2, 99,066 units in the corresponding period last year. However, there was a boost in overall two-wheelers sales by 8.17 per cent, with 18, 17,077 units sold in July.

The automobile industry grew by 7.97 per cent in July, according to SIAM data, driven by the robust sale of vehicles at 2,244,875 units.

The Light commercial vehicles (LCV) segment saw a 32.88 per cent growth, with 48,198 units sold this year, contrary to 36,271 units in the same month last year. This was followed closely by Medium and Heavy commercial vehicles, which registered a 24.5 per cent year-on-year growth.