Passenger vehicle sales up 2.7% in FY19, slowest in 4 years: Siam

Passenger vehicle (PV) sales in India advanced by only 2.7 per cent in 2018-19 (the financial year ending March 31) over 2017-18, the Society of Indian Automobile Manufacturers (Siam) said.

This growth, slowest in four years, came on the back of tepid dispatches in the March quarter as consumer sentiment took a knocking, owing to uncertainty ahead of the general election. Automobile companies in India count dispatches to dealers as sales.

Siam expects 2019-20 to be muted for PV sales and to end the year with five per cent growth over FY19. 

Historically, passenger vehicles sales have been in a slow lane in