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.
This story is from the September 06, 2024 edition of Business Standard.
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This story is from the September 06, 2024 edition of Business Standard.
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