You Might Also Like: Best selling cars in the world
When seen the SIAM data, the retail sales of all passenger vehicles has been declined to 1.28% and commercial vehicles have gone down to 11%. The two-wheeler’ retail demand dropped down to 7% in the month of April. Sen, also explained that there are various adverse factors due to which sales have gone down. Mainly tight liquidity and high insurance cost is the reason due to which there is uncertainty seen in the buyer’s mind.
Sales went down of both heavy and medium commercial vehicles
In the last month, the sales of heavy and medium commercial vehicles have gone down to 13.6% which comprises of 24,725 units. This data was produced by SIAM and that’s why there are no chances of doubt. Talking about light commercial vehicles, the sales have gone down to 1.1%, which comprises of 43,955 units.
The two-wheeler sales in both urban and rural areas have fallen down to 16.4% where demand for scooters has dropped to 489,852 to 26% while for motorcycles it has gone down to 1.08 million units. According to industry experts, it has been said that demand would definitely revive in the month of June when the new gove
ment will be formed. So, the manufacturers are cutting down the supply due to lower demand for vehicles.
You Might Also Like: Maruti to phase out all diesel cars from April 2020, sees a weak year ahead
As believed by Sen, there will be a slowdown for two months more and the demand for vehicles can be increased after the results of elections are out. The overall vehicle sales have gone down to 2 million to 15.9% units in the month of April. Thus, the rise in sales will be seen in a month or two when the new gove
ment will be formed.