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LATEST NEWS UPDATES | Passenger vehicle retail sales grow for the first time since March -Yuthika Bhargava

Passenger vehicle retail sales grow for the first time since March -Yuthika Bhargava

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published Published on Oct 8, 2020   modified Modified on Oct 8, 2020

-The Hindu

Total vehicle retail sales continue to be on the decline.

Total vehicle retail sales in the country continued to decline year-on-year in September 2020, even as passenger vehicle registrations turned positive for the first time since March growing at 9.81% during the month, as per data from the Federation of Automobile Dealers Associations.

Total vehicle registrations fell to 13.44 lakh units in September 2020, down 10.24% from about 14.98 lakh units in the year-ago month. However, month-on-month, the registrations saw double-digit growth of 11.45%, raising hopes of “high growth period” in the months of October and November due to the upcoming navratri, Durga puja and Diwali festivals.

The data released on Thursday showed that passenger vehicle registrations grew 9.81% to over 1.95 lakh units, while two-wheelers registrations declined 12.62% to 10.16 lakh units and commercial vehicle registrations fell 33.65% to 39,600 units.

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The Hindu, 8 October, 2020, https://www.thehindu.com/business/Industry/passenger-vehicle-retail-sales-grow-for-the-first-time-since-march/article32801470.ece?homepage=true


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