INSUBCONTINENT EXCLUSIVE:
conditions, dragged overall retail sales of the Indian automobile sector in July down by 6 per cent on a year-on-year basis.According to
data furnished by the Federation of Automobile Dealers Associations (FADA), overall retail sales last month declined to 16,54,535 units from
17,59,219 units reported for the corresponding month of previous fiscal year.However, on the month-on-month basis, the overall retail sales
grew higher by 5 per cent to 16,54,535 units from an off-take of 15,81,141 units in June.The data also showed that retail sales of passenger
vehicles were lower by 11 per cent on a year-on-year basis.Sales declined to 2,43,183 units from 2,74,772 units reported for the
corresponding month of previous fiscal year."Consumer sentiment and overall demand continued to be quite weak across all segments and most
The July sales continue to be in the negative zone YoY
Although some respite seen with growth in MoM numbers which was mainly due to revival of the monsoon bringing some positivity and also June
having the 2nd lowest volume base this calendar year after February," FADA president Ashish Harsharaj Kale said."With June being a
completely dry and rain deficient month, consumer sentiment was at its lowest and with July rains covering up a lot of the deficit, some
confidence in consumer demand led to pending purchase conclusion in July
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