Sales across segments fall to 18.25 lakh units; biggest slump of 21.8% seen in Dec. 2000, says SIAM.
Hit by poor consumer sentiment, the automobile industry saw its monthly sales decline 18.71% last month, the worst ever in nearly 19 years, forcing the industry to resort to job cuts. The sector reiterated its demand for a stimulus to arrest the continued downturn, particularly ahead of the festive season.
As per data released by industry body SIAM, vehicle sales across categories fell to over 18.25 lakh units in July 2019, down from more than 22.45 lakh units in the year-ago month. Previously, the biggest slump of 21.81% was seen nearly two decades back in December 2000.
This story is from the August 14, 2019 edition of The Hindu.
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This story is from the August 14, 2019 edition of The Hindu.
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