India’s sales of cars saw a decline of 15.9 per cent in April, the worst in eight years. The Industry fears recovery might take time depending upon multiple factors. And that includes the economic policy of the new government while the change happens later this month.
As per the data available, this is the tenth consecutive month since July 2018, where car sales showed a deep concern.
Overall, there were 2,001,096 units sold during April. In the same period last year, the sale was 2,380,294 units.
“In the last 10 years, we have not seen anything like this when all the segments were down. The start of the new financial year has not turned out to be very good,” Deputy Director General (Siam) Sugato Sen said.
The demand remains subdued in urban areas. It was evident from a sharp drop in sales of scooters by 26 per cent. Similarly, poor sales accounted in rural areas. The reason might be the motorcycles being popular as car sales then declined by 16 per cent.
As Vishnu Mathur, director general, Siam told us that some kind of recovery in sales will come only after the general elections. If the current BJP rule makes way for new government then there might be chances of recovery in car sales.
Khalid M Raza
