Auto industry seeks govt intervention as PV sales skid to decade low

Vehicle sales in India — a key indicator of the economy — continued to slump with a decline of 8.62 per cent in May. 

Sales have been going down since July last year but what is worrying the industry is a historic drop in sales of passenger vehicles by 20.55 per cent in May. 

The passenger segment is the most valuable for the industry and a slowdown indicates Indian consumers are holding back purchases.

Sales of Maruti Suzuki, India’s largest carmaker, declined 22 per cent — the highest since August 2012 — in May.

“For some unknown reasons, customers put