Heavy Industries and Public Enterprises Minister Prakash Javadekar has said that vehicle sale of all categories dropped to 11.7 million in April-September 2019 period as compared to 14.1 million units sold in the same period last year, on the back of cyclical slowdowns in many economies.
However, the minister said festive demand this year has shown year-on-year growth of 0.3 percent in the passenger vehicle segment. He also said that the government, as a policymaker, always attempts to keep and improve the momentum of the economy through a package of measures for comprehensive and continued development of the industry as and when required.
According to data released by the Society of Indian Automobile Manufacturers (SIAM), domestic passenger vehicle sales witnessed a marginal rise of 0.28 percent to 2,85,027 units in October 2019 as compared to 2,84,223 units in the year-ago period, aided by positive festive season and introduction of new models in the utility vehicle space. Passenger vehicle in terms of wholesale had declined for the 11th consecutive month in September.
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