Automobile businesses descend to 23.5% in August

The business of vehicles in India slipped by 23.5 per cent in August, the most critical ever sink in a month on a year-on-year basis after the time industry body Society of Indian Automobile Manufacturers (SIAM) has been examining data from 1997-98.
1. In August 2019, overall selling attained at 18,21,490 units against 23,82,436 units in the same period last year. In total amount times, sales have also declined on a month-on-month basis as of May when 20,86,358 units were deceived. Since December 2018, the year-on-year monthly slump in sales has been unabated.
2. Two-wheeler trades too witnessed a sheer deterioration of 22.24 per cent with 1,514,196 sold in August 2019 related to 1,947,304 sold in August 2018. Bikes, motorbikes saw a slump of 22 per cent, 22 per cent and 21 per cent.
3. Average and heavy industrial vehicles too noticed a heavy decay of 54.3 per cent with 15,573 units traded last month as correlated to 34,073 units sold in August 2018. Small commercial transports observed a drop of 28.21 per cent with 36,324 units sold examined to 50,595 units in Midsummer 2018.
SIAM President Rajan Wadhera allowed the crisis is unparalleled.
• We have never seen every segment of the industry declined at the same time, for this long and at this quantum ever before. We always have light at the end of the tunnel, but everything depends on how long is the tunnel,” he said. ”
• The festive season is made or break for us. We will do our bit. Discounts are already high and we tend to offer some more during these months. I think the same thing will happen this time. The real situation will emerge only after the festive season.”

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