INSUBCONTINENT EXCLUSIVE:
passenger vehicle sales declined 20.55 per cent in May to 2,39,347 units from 3,01,238 units.In the commercial vehicle segment, domestic
sales were down 10.02 per cent at 68,847 units last month, according to industry body SIAM.Similarly, the data pointed out that
three-wheeler sales decelerated
motorcycles and mopeds - decreased 6.73 per cent to 1,726,206 units.According to the SIAM data, total sales of the the country's
automobile sector declined 8.62 per cent to 2,086,358 units across segments and categories in May 2019.The sector has been moving towards
signs of rebounding yet due to various factors like drying up financing resources with the NBFC troubles, election related impasse, high
base number and BS VI expectations in a couple of quarters," said Sridhar V, partner, Grant Thornton India LLP."Many OEM's have plans
afoot in cutting back production to reduce the inventory piling up at dealership
The segment is hoping for budget to throw some encouraging news."
