Explorer
What does automobiles sector expect from the Union Budget 2019?
The passenger vehicle (PV) sales declined for a seventh straight month in May to 2,39,347 units against 3,01,238 units in the year-ago month. In fact, barring October last year, when sales were up 1.55 per cent, PV offtake has been in the negative in 10 of the last 11 months.
The dip last month is the worst since September 2001, when sales had dropped by 21.91 per cent. All major segments, including two-wheelers and commercial vehicles, witnessed a decline in sales in May, SIAM had said. Vehicle sales across categories registered a decline of 8.62 per cent to 20,86,358 units from 22,83,262 units in May 2018.
The dip last month is the worst since September 2001, when sales had dropped by 21.91 per cent. All major segments, including two-wheelers and commercial vehicles, witnessed a decline in sales in May, SIAM had said. Vehicle sales across categories registered a decline of 8.62 per cent to 20,86,358 units from 22,83,262 units in May 2018.
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