PV sales dip 17pc in April, log steepest decline in nearly 8 yrs

Passenger vehicle sales in India dropped by 17.07 per cent in April, the steepest fall since October 2011, as weak customer sentiment led by liquidity crunch, uncertainty revolving elections and high product prices hit sales.

The domestic sales declined for a sixth straight month in April to 2,47,541 units against 2,98,504 units in the year-ago month. It is the worst dip in PV sales since October 2011 when sales had dropped by 19.87 per cent.

All major segments, including two-wheelers and commercial vehicles, witnessed a decline in sales in April, according to data released by the Society of Indian Automobile Manufacturers (SIAM).

Domestic car sales declined 19.93 per cent to 1,60,279 units last month compared to 2,00,183 in April 2018. Motorcycle sales declined 11.81 per cent to 10,84,811 units last month as against 12,30,046 units in the year-ago month.

Total two-wheeler sales in April declined 16.36 per cent to 16,38,388 units compared to 19,58,761 units in the year-ago ...