Domestic passenger vehicle (PV) sales lost speed in the month of July 2018, with the decline of 2.71% on year on year basis. As per the Society of Indian Automobile Manufacturers (SIAM) data report, domestic PV sales decreased to 2,90,960 units in July 2018 from 2,99,066 units in July 2017
The data report also found a dip in sales volumes of domestic cars. Car sales decreased marginally to 1,91,979 units in the reported month as compared to 1,92,845 in July 2017. However, motorcycle sales jumped by 9.67% to 11,50,995 units in July 2018 as against 10,49,478 units sold during corresponding period of the previous year.
Further, total two-wheeler sales were up by 8.17% in July 2018 to 18,17,077 units as against 16,79,876 units in the year-ago month, while commercial vehicles sales rose 29.65% to 76,497 units in July. The report further showed that vehicle sales across categories registered a rise of 7.97% to 22,44,875 units from 20,79,204 units in July 2017.