- Total domestic passenger vehicle sales in July stood at 2,90,960 units as compared to 2,99,066 units in the same period in 2017
- Last year’s sales growth attributed to GST roll-out
- Positive growth expected for next year
As per data released by the Society of Indian Automobile Manufacturers (SIAM), the domestic sales for passenger vehicles, which include cars, UVs and vans, has witnessed a decline of 2.71 per cent in July 2018. The total sales in July this year stood at 2,90,960 units as compared to 2,99,066 units in the same period last year. The overall domestic car sales also declined marginally to 1,91,979 units as compared to 1,92,845 in July 2017.
Although, there is a slight drop in sales in the passenger vehicle segment this year, Sugato Sen, SIAM Deputy Director General has attributed the high numbers last year due to GST roll out. Overall, the industry is believed to be on a growth path. The utility vehicle segment saw a decline in sales as the industry sold 79,092 vehicles in July 2018 as compared to 86,872 vehicles sold in the same period last year.
The numbers are likely to witness a positive growth in the upcoming festive season with a new product line up in the country.