In evident proof of subdued income levels, rising cost of petrol amidst sluggish economy weighing on the demand, domestic passenger car sales contracted by 25.71% to 1, 58,513 units in February this year compared to 2, 13,362 units in the same month of 2012. Posting the biggest fall in more than 12 years and the fourth consecutive monthly slide, the industry clearly is now bracing for registering first annual sales fall in a decade.
According to the data released by the Society of Indian Automobile Manufacturers (SIAM), motorcycle sales in last month declined by 4.48% to 8,00,185 units from 8,37,743 units in the same month previous year. Meanwhile, total two-wheeler sales for February 2013 stood at 11, 12,289 units, down by 2.77% from 11, 43,982 units in the corresponding period of previous year.
Besides, the total sales of commercial vehicles declined by 11.06% to 68,388 units from 76,891 units in the year-ago period. Total sales of vehicles across categories too contracted by 5.45% to 14, 51,278 units in February 2013 as against 15, 34,910 units in the same month of 2012.
