Passenger vehicle despatches in reverse gear for 3rd straight month in July

Right ahead of the festival season, passenger vehicle (PV) despatches remained in the slow lane in July, slipping 0.2 per cent year-on-year (Y-o-Y) to 340,772 units as dealership inventory stayed high, prompting manufacturers to moderate vehicle despatches. This is the third consecutive month that PV despatches have declined. 

PV production in July was nearly unchanged at 398,071 units (up 0.1 per cent), indicating that original equipment manufacturer despatches are being calibrated to retail demand. Within PVs, passenger car wholesales fell 0.5 per cent, while utility vehicles grew by a modest 2.4 per cent.