mumbai sources reported that Passenger vehicle (PV) sales in india continued their downward spiral in June as automakers curbed factory dispatches to control inventory at dealerships. Initial reports from the top companies suggest a year on year (y-o-y) decline of more than 16% for the PV segment and 11% y-o-y drop in two-wheeler sales.
Automobile sales in india are counted as factory dispatches and not retail sales. The auto industry had anticipated this downtrend for June, but stakeholders are worried as there are no visible signs of recovery as PV sales have fallen 18% y-o-y during Q1FY20.
Domestic sales of market leader maruti Suzuki india Ltd fell 17% in June to 111,014 vehicles. The Suzuki Motor Corp. unit reported a decline across all categories including mini cars and sport-utility vehicles although sales of its Ciaz sedan and the light commercial vehicle (LCV) Super Carry increased during the month.
