In July, the sale of vehicles across categories in the country slumped 18.71% to about 18.25 lakh units, down from about 22.45 lakh units, a year ago in the same month. This has been the steepest fall in nearly 19 years. This data, by the Society of Indian Automobile Manufacturers (SIAM), gives out wholesale figures — i.e. the number of vehicles despatched to dealers by vehicle manufacturers. The pasenger vehicle segment, which comprises cars, utility vehicles and vans, has been one of the worst performing segments, registering its highest drop in sales since December 2000: almost 31%, to a little over two lakh units from nearly 2.91 lakh units in July 2018. This was also the ninth straight drop in monthly passenger vehicle sales. In fact, barring a low single digit uptick in October 2018, segment sales have been falling for the past year. With the industry failing to arrest the downturn that started almost a year ago, despite deep discounts and new model launches, it has been forced to undertake production cuts. This has also led to the trimming of over 2.15 lakh jobs in the sector.
Source: https://www.thehindu.com/business/Industry/why-is-the-auto-industry-facing-trouble/article29121023.ece
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In July, the sale of vehicles across categories in the country slumped 18.71% to about 18.25 lakh units, down from about 22.45 lakh units, a year ago in the same month. This has been the steepest fall in nearly 19 years. This data, by the Society of Indian Automobile Manufacturers (SIAM), gives out wholesale figures — i.e. the number of vehicles despatched to dealers by vehicle manufacturers. The pasenger vehicle segment, which comprises cars, utility vehicles and vans, has been one of the worst performing segments, registering its highest drop in sales since December 2000: almost 31%, to a little over two lakh units from nearly 2.91 lakh units in July 2018. This was also the ninth straight drop in monthly passenger vehicle sales. In fact, barring a low single digit uptick in October 2018, segment sales have been falling for the past year. With the industry failing to arrest the downturn that started almost a year ago, despite deep discounts and new model launches, it has been forced to undertake production cuts. This has also led to the trimming of over 2.15 lakh jobs in the sector. Source: https://www.thehindu.com/business/Industry/why-is-the-auto-industry-facing-trouble/article29121023.ece
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