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Government Aware Of Sluggish Rate Of Domestic Automobile Sales

Capital Market 

The Government is aware that the auto sector which has been growing at approximately 7-8% per annum has witnessed a sluggish rate of sales in the last two quarters. During the period from January2018-June 2018, 13.39 million vehicles (all categories) were sold and during the period from January 2019-June 2019, 12.04 million vehicles were sold. A net decline of 10.08% was registered in the rate of automobile sale in the last two quarters. The Government, as a policymaker, always attempts to kickstart the sluggish economy through a package of measures for comprehensive and continued development of the auto sector as and when required. This information was given by the Minister of Heavy Industries & Public Enterprises, Arvind Ganpat Sawant, in a written reply in the Lok Sabha.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, July 16 2019. 16:13 IST