Home » Money

Annual car sales decline for first time in 11 years

Friday, 10 January 2014 - 11:17am IST | Place: Mumbai | Agency: DNA

For the first time in 11 years, annual domestic car sales declined (9.59%) in 2013 (January-December) as higher fuel prices and economic slowdown impacted overall demand. According to the Society of Indian Automobile Manufacturer (SIAM), domestic car sales in 2013 fell to 18,07,011 units from 19,98,703 in 2012.

“The negative sentiments have deepened due to the current state of the economy,” said Vishnu Mathur, SIAM’s director-general.

SIAM said car sales in India have been in positive territory only for three (October 2012, August and September 2013) of the past 17 months. Sales of total passenger vehicles, including utility vehicles and vans, declined by 7.23% in 2013. Total commercial vehicle (CV) sales declined 15.56%, while the medium and heavy commercial vehicles segment witnessed a sharp decline of almost 28%. Wholesale numbers of two-wheelers grew 3.92%.

In December alone, total passenger vehicle sales de-grew 9.02% despite heavy year-end discounts. Barring Maruti, Hyundai and Honda, carmakers’ wholesale numbers declined. Total two-wheeler sales in December rose 2.32% on-year to 11,63,465 units. SIAM said any possible revival would happen only in the second half (July-December) of this year.


Jump to comments

RELATED

Around the web