Indian automobile industry sales decline 13.05% during FR 2020-21

Tuesday, 13 April 2021 10:43:52 (GMT+3)   |   Kolkata

India’s total automobile sales declined 13.05 percent during fiscal 2020-21 at 4,128,928, the sharpest year-on-year fall over the last seven years, according to data released by Society of Indian Automobile Manufacturers (SIAM) on Tuesday, April 13.

SIAM said that the decline in each and every segment of the automobile industry during 2020-21 had pushed the industry back by seven years.

Passenger car sales during the year was recorded at 2,711,457 during the year hit a six-year low.

Sales of two-wheelers was recorded at 15,199,000 during 2020-21, which was the same volume level as that achieved by the industry in 2015, SIAM said.

Three-wheeler unit sales was at 216,000 units, a 19 year low, the association said.

The 5-year compounded annual growth rate (CAGR) of the overall automobile industry dropped to 6 percent and 10-year CAGR was down at 2 percent, SIAM said.

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