India has a total of over 30 million passenger vehicles
Sales of commercial vehicles were down 12.32 per cent to 66,622 units in December SIAM said
There was a sharp divergence in retail demand growth and wholesale despatches during the first half of FY20 as focus was towards reducing inventory level, Icra said
Commercial vehicles are yet to see relief in terms of unsold inventory levels
Total sales across categories rose 4 per cent to 17,09,610 units in October, as against 16,38,832 units in the same month last year.
Passenger vehicle (PV) sales fell around 20 per cent year-on-year in the April to October period, first seven months of this financial year
UV launches, steep festival discounts bolster sales
Overall, domestic passenger vehicle sales witnessed a marginal increase of 0.28% to 2,85,027 units in October
Production of mini and compact segment cars, including Alto, New WagonR, Celerio, Ignis, Swift, Baleno and Dzire stood at 85,064 units
Sales of vehicles also remained in the red due to the Shraddh period during the month
PV exports stood at 3,65,282 units in April-September period of the current fiscal as compared with 3,49,951 units in the same period of 2018-19.
Passenger vehicles sales in India have been on a decline for over a year
This is the last-ditch effort by automakers to shore up sales in a financial year that has been marked by poor purchases and production cuts
Global sales of Jaguar Land Rover stood at 39,615 units
Sales of passenger vehicles and two-wheelers drop YoY in July even as two segments perform better than June
The draft notification proposes to increase the registration fees from Rs 1,500 to Rs 20,000 for new M&HCVs and from Rs 1,500 to Rs 40,000 for renewals
Siam has raised an alarm, saying the prolonged slowdown has destroyed 15,000 jobs and, without an immediate intervention by the government, there will be more
Employees cited that till now job losses have mainly occurred on the part manufacturers' side, however, if the current market conditions prevail then downsizing might become a reality even in the OEMs
The auto sector has been the worst performer among sectoral indices over the last year, shedding 34.5 per cent, while the Sensex and the Nifty were down marginally
Industry cites tight liquidity, dealyed monsoon; dealer inventories brought down with some help from manufacturers