While the automobile sector across the country is reeling from a slowdown, Chhattisgarh has bucked the trend by registering an impressive growth in vehicle sales in the first four months (April to July) of the current financial year (FY20).
“There has been an average 20 per cent growth in car and two-wheeler sales that is likely to further go up,” a senior official with the transport department told Business Standard. The state’s rural economy has thrived and that has made all the difference.
“The rural economy in the state has substantially strengthened with a hike in the minimum support price (MSP) on paddy being a major factor,” said Amar Parwani, national vice-president of the Confederation of All India Traders.
A slump in sales across the country has plunged the sector into a severe crisis. The current sales of vehicles are reportedly the lowest in the past two decades.
A drop of 12.34 per cent was registered in June, 8.62 per cent in May and 15.93 per cent in April. According to reports, the passenger vehicle sales declined 30.98 per cent during July this year, while the commercial vehicle sales plunged 25.71 per cent.
There was a drop of 16.82 per cent in the sales of two-wheelers during the period.