Year-on-year vehicle retail sales across the country have registered a decline of 9.26% in the month of September. Automobile companies sold around 17.23 lakh vehicles last month. At the same time, 19 lakh vehicles were sold in the same month last year.
Whereas, car sales have declined by around 19% year-on-year. Car makers sold 2,75,681 cars in September. While last year, 3,39,543 vehicles were sold in the same month.
The Federation of Automobile Dealers Association (FADA) has given this information in its monthly sales report on 7 October. According to the FADA report, festivals like Ganesh Chaturthi and Onam in September also failed to increase demand for cars.
Stocks at dealers increased The dealers' association says that due to the fall in demand, dealers have accumulated 80 to 85 days of stock (inventory) of about 7.9 lakh vehicles, valued at Rs. 79,000 crores.
“The passenger vehicle segment is facing a critical situation due to high level of inventory at dealerships, dealers may face heavy losses if sales do not pick up as expected in October,” says FADA.
Two-wheeler sales have also declined According to FADA, two-wheeler sales have also declined due to heavy rains and Shraddha Paksha last month. Bike-scooter sales declined by 8.51% during this period compared to the same month last year. Two-wheeler companies sold 12,04,259 vehicles in September. At the same time, 13,16,300 two-wheelers were sold in the same month last year.
Sales of three-wheelers and tractors have increased Along with this, the sales of commercial vehicles in September has recorded a year-on-year decline of 10.45 percent. On the other hand, the three-wheelers saw a 0.66% YoY growth and the tractor segment saw a 14.69% YoY growth.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
