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Passenger vehicle sales witness 2.71 per cent drop in July

Passenger vehicle sales witness 2.71 per cent drop in July
Nikhil Puthran Nikhil Puthran Saturday 11 August 2018, 17:13 PM

Domestic sales for passenger vehicles has witnessed a 2.71 per cent drop in sales in July with 2,90,960 units as compared to 2,99,066 units in the same period last year. The data was released by the Society of Indian Automobile Manufacturers (SIAM) and includes cars, UVs and van. Overall, domestic car sales also declined marginally to 1,91,979 units compared to 1,92,845 in July 2017.

Although, there is a slight drop in sales in the passenger vehicle segment this year, Sugato Sen, SIAM Deputy Director General has attributed the high numbers last year due to GST roll out. Overall, the industry is believed to be on a growth path. The utility vehicle segment saw a decline in sales as the industry sold 79,092 vehicles in the July 2018 period as compared to 86,872 vehicles in the same period last year.

The numbers are likely to witness a positive growth in the upcoming festive season and new product line up in the country.

 

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