India’s passenger car sales decline 50 percent in June

Wednesday, 15 July 2020 10:10:52 (GMT+3)   |   Kolkata
       

Indian passenger car sales during June 2020 was recorded at 105,617 units, down 49.59 percent over corresponding month of the previous year, according to data released by Society of Indian Automobile Manufacturers (SIAM).

“Production has been slow owing to supply chain disruptions and weak demand,” Rajan Wadhera, President, SIAM said in a statement.

According to SIAM, it would take the industry 3-4 years to get back to production levels of 2018.

Maruti Suzuki, which has close to 50 percent market share in domestic passenger cars market, sold 51,274 units in June 2020, down 50 percent over corresponding previous year, while second largest passenger car manufacturer, Hyundai India Limited too reported a 50 percent fall in June 2020 sales at 21,320, SIAM said.

However, it was pointed out by industry officials that based on sequential monthly sales, industry performance had improved during June compared to the previous month of May. Citing example, the officials said that while Maruti Suzuki’s sales during June 2020 was at 51,274 units, which is 50 percent lower than corresponding previous year, it was still an improvement over sales of 13,865 units in May 2020, when the company started process of resuming production after national lockdown.

Similarly while Hyundai India’s June sales were down 50 percent in June 2020 at 21,320 units compared to month in previous year, but it was higher than 6,883 sales registered in May 2020, indicating that demand was reviving in the local market but would take a very long time to get back to earlier levels.


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