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Passenger vehicles sales decline 17.85% in 2020 to 24.33 lakh units

Passenger vehicles sales decline 17.85% in 2020 to 24.33 lakh units
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NEW DELHI: Domestic passenger vehicles sales declined by 17.85 per cent to 24,33,464 units in 2020, according to data released by SIAM on Thursday.
OEMs managed to sell 29,62,115 units in 2019. Export of passenger vehicles fell by 39.38 per cent in 2020 at 4,28,098 units.
Under the PVs, all the three categories (passenger cars, utility vehicles and vans) witnessed regrowth.
Passenger cars sales tanked by 21.30 per cent at 14,32,304 units. Sales of utility vehicles, on the other hand, declined by 8.89 per cent to 8,97,406 units.
Kenichi Ayukawa, President, SIAM said “Indian Automobile Industry appreciates the efforts of the Government to balance safety of people and revival of economy from the negative effects of the pandemic. Initiatives such as the announcement of PLI scheme, keeping interest rates very low, targeted spending in rural areas and continued focus on building road infrastructure, will help in our recovery process.
In Q3 FY20-21, Passenger Vehicle and Two Wheeler segments have shown some recovery, while Commercial Vehicle and Three Wheeler segments are still in the negative zone. However Q3 numbers could include an element of deferred demand of Q1. If we look at the cumulative numbers of the 9- month period from April to December 2020, it shows that sales of all segments are still behind by many years.



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