Sale of passenger vehicles drops by over 6 pc, two-wheelers down by 16 pc in January 2020
While the overall sales of passenger vehicle continue to be in negative, SUVs still managed to attract buyer sentiments in January 2020.
Auto sales continue its decline spree in January 2020 with sales of passenger vehicles dropping by 6.20 percent to 2,62,714 units. Passenger vehicle sales in the same month in 2019 stood at 2,80,091. In comparison, two-wheeler sales in India dropped by over 16 percent from 15,97,528 units in January 2019 to 13,41,005 units in January 2020.
Interestingly, three-wheeler sales saw a near 13 percent rise in sales, while commercial vehicles sales nosedived by over 14 percent.
Speaking on the January 2020 sales, Rajan Wadhera, President of SIAM (Society of Indian Automobile Manufacturers), said, “Sales of vehicles continue to be stressed due to rising cost of vehicle ownership and slower growth in GDP. We are hopeful that the recent announcements of the government on infrastructure and rural economy would support the growth of vehicle sales going forward, especially in commercial vehicle and two-wheeler segment.”
He believes that the response of consumers towards Auto Expo 2020 has been favourable, which should help to build positive consumer sentiments and improve sales in the coming months.
“We as SIAM are also looking forward to early announcement of an incentive-based scrappage policy in the context of the recent assurances of the government,” added Wadhera.
Earlier this month, Nitin Gadkari, Union Minister of Road Transport and Highways, said that the long-awaited scrappage policy should get a cabinet nod within 15 days. The said policy, which has been promised by the NDA government since 2015, is said to have finally received clearance from all quarters.
The slowdown in the sector is also evident with just three lakh footfalls in the ongoing Auto Expo 2020. In comparison, the 2018 and 2016 editions of the biennial event registered six lakh and seven lakh visitors respectively.
Auto Expo 2020 was opened for general public on February 7, 2020, at Greater Noida’s India Expo Mart, and will continue till February 12.
(Edited by Saheli Sen Gupta)
