Retail sales of passenger vehicles (PV) declined by 4.53 per cent in August, with excess rainfall dampening consumer interest, said a dealers' association on Thursday.
As many as 309,053 PVs were sold in August compared to 323,720 in the same month in 2023, according to the Federation of Automobile Dealers Associations (Fada).
Unsold stock stretched to an unprecedented 70-75 days and totals 780,000 vehicles valued at 77,800 crore. PV sales fell by 3.46 per cent month-on-month.
Tractor and commercial vehicle (CV) sales dropped by 11.39 per cent and 6.05 per cent but the two-wheeler (2W) and threewheeler (3W) segments grew 6.28 per cent and 1.63 per cent. Collectively, India's automobile retail market registered a modest year-on-year (Y-o-Y) growth of 2.88 per cent in August.
Diese Geschichte stammt aus der September 06, 2024-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der September 06, 2024-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Higher volume, profitability gains for GAIL India
GAIL India's second quarter (Q2FY25) performance met expectations.
MULTI-ASSET ALLOCATION FUNDS: Ensure fund's equity exposure and strategy match your risk appetite
A recent analysis by Ventura Securities of 25 multi-asset allocation funds (MAAFs) reveals that many of these funds have outperformed a large number of equity schemes over 1-5-year timeframes.
Markets fall over 1% after two-day rally
IN THE RED Sensex intraday
Industry bodies urge FinMin to ease TDS rate structure
Proposal seeks to lessen compliance burden on taxpayers and avoid litigation
After SC rap, Centre doubles penalty for stubble burning
Burning issue
Proactively made all disclosures, recusals: Sebi WTM on Cong's charges
Ananth Narayan, whole-time member (WTM), the Securities and Exchange Board of India (Sebi), has responded to allegations of conflict of interest due to personal investments.
Market regulator may water down skin-in-game rules for MF executives
The Securities and Exchange Board of India (Sebi) has shown intent to relax the skin-in-the-game norms applicable to senior executives of the mutual fund (MF) industry.
MSCI adds 5 Indian stocks to key index
MSCI added five Indian companies to its Global Standard Index late on Wednesday, a move that brokerage Nuvama said would lift the country's weighting on the index to 20 per cent, further narrowing the gap with China.
Trump's triumph: Will bulls run amok and gold, silver sparkle?
Top brokerages highlight opportunities, risks, and contradictions the new administration may offer
REIMAGINING ROLE OF AGRICULTURE
In the changed context of economic development, agriculture is seen playing a much larger role than perceived in the dominant thinking in development economics
