Passenger vehicles sales decline 17.85% in 2020 to 24.33 lakh units – Times of India

NEW DELHI: Domestic passenger autos gross sales declined by 17.85 per cent to 24,33,464 items in 2020, in response to information launched by SIAM on Thursday.
OEMs managed to promote 29,62,115 items in 2019. Export of passenger autos fell by 39.38 per cent in 2020 at 4,28,098 items.
Under the PVs, all of the three classes (passenger vehicles, utility autos and vans) witnessed regrowth.
Passenger vehicles gross sales tanked by 21.30 per cent at 14,32,304 items. Sales of utility autos, then again, declined by 8.89 per cent to eight,97,406 items.
Kenichi Ayukawa, President, SIAM mentioned “Indian Automobile Industry appreciates the efforts of the Government to steadiness security of individuals and revival of financial system from the adverse results of the pandemic. Initiatives such because the announcement of PLI scheme, holding rates of interest very low, focused spending in rural areas and continued give attention to constructing highway infrastructure, will assist in our restoration course of.
In Q3 FY20-21, Passenger Vehicle and Two Wheeler segments have proven some restoration, whereas Commercial Vehicle and Three Wheeler segments are nonetheless within the adverse zone. However Q3 numbers may embody a component of deferred demand of Q1. If we have a look at the cumulative numbers of the 9- month interval from April to December 2020, it exhibits that gross sales of all segments are nonetheless behind by a few years.

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