Commercial vehicles sales continue to be dismal

According to automobile industry body SIAM, commercial vehicles sales was 58,670 units in February 2020 compared to 87,436 units in February 2019 marking a decrease by (-)32.90%.

The industry produced a total 20,498,128 vehicles including Passenger Vehicles, Commercial Vehicles, Three Wheelers, Two Wheelers and Quadricycle in April-February 2020 as against 24,358,082 in April February 2019 with a decline of (-)13.29%. Commercial Vehicles sales was 704,661 units in April-February 2020 compared to 898,289 units in April-February 2019, down by (-)21.56%.

Rajan Wadhera, President, SIAM, stated “The decline in wholesale dispatches is primarily due to economic slowdown and lower production of BSIV vehicles. Some upside on the registration numbers of VAHAN can be attributed to last minute purchase by customers trying to advance purchase of BS-IV vehicles.

Supply chain disruptions from China is also a concern, which may impact the production plans for companies going forward. The Auto Industry is grateful to the Government for issuing a notification of Force Majeure for Coronavirus and 24×7 clearance of shipments at all customs formations.”

 

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