Sales of consumer vehicle have been declining from January and it has continued to remain in the low end this month as well. It has continued to remain slow with the drop of 1.87%. Earlier Toyota was seemed in stress and major car manufactures like Maruti Suzuki , Hyundai , Mahindra & Mahindra showed positive reports but a recent report from Society Of Indian Automobile Manufactures , the overall sales of automobile has declined and stood to 2,80,125 pieces in January on passenger vehicle.
However ,sales of commercial vehicles has an increase of 2.21% to 87,591 units. Sales of three-wheelers fell to 13.59% to 54,043 units. Increase in overall income and ownership cost also effected the demand of two –wheelers which showed a decline of 5.18% to 1.5 million units in January. There was also a drop in sales of two –wheelers which reduced to 2.55% to 12 million units in the same month. While the sales of scooters reached to 10.21% to 497,169 units. Overall sales of all categories have been declined by 4.68% to 2 million units.
Moreover it is believed that the industry will continue to experience low sales for next few quarters due to elections and market fluctuations in consumer incomes