Auto slump continues: All major carmakers saw a high double-digit decline in September.
Continuing its downward spiral for consecutive 11th month, passenger vehicle sales plunged by 23.69 per cent in September, as per the latest data from SAIM (Society of Indian Automobile Manufacturers). The report says commercial vehicle sales dipped 62.11 per cent in September. Passenger vehicle sales dropped to 2,23,317 units, while passenger car sales dropped by 33.4 per cent to 131,281 units.
Automobile dealers across the country are facing the brunt of the slowdown in sales of cars and two-wheelers despite festive push. Uncertainty over a potential cut in GST rate for cars also kept customers away from dealerships for much of September.
All major carmakers saw a high double-digit decline in September. Maruti Suzuki saw a 27 per cent drop while arch-rival Hyundai registered a 14.8 per cent drop. Tata Motors witnessed the heaviest drop at 56 per cent followed by Nissan at 55.6 per cent, Honda at 37 per cent, Ford at 32.5 per cent and Mahindra at 28 per cent.