Automobile sales to see double-digit decline in FY21: Crisil Research

The domestic automobile industry is headed for another year of double-digit sales decline this fiscal, given the extended lockdown to contain the Covid-19 pandemic, Crisil Research said on Friday.

Overall sales volume would plunge to multi-year lows, with sales of both passenger and commercial vehicles reaching fiscal 2010 levels, it said.

For the full fiscal, sales of passenger vehicles (PVs) are expected to decline 24-26 per cent as compared with a 21-23 per cent contraction for two-wheelers, according to Crisil Research.

Commercial vehicles (CVs) sales are expected to decline by 26-28 per cent. However, contraction in tractor sales in the current fiscal is