Automobile sales decline for 12th month in a row

By OEM Update Editorial December 16, 2019 11:03 am

As per a recent report by Brickwork Ratings, domestic automobile sales fell by 12 per cent y-o-y in November 2019, largely driven by weak sales of commercial vehicles and two-wheelers. Commercial vehicle sales were down by 15 per cent and two- and three-wheeler sales were down by 14 per cent y-o-y in November 2019. The weak commercial vehicle sales reflect the subdued state of industrial activity in the country and weak two-wheeler sales indicate low rural demand. Commercial vehicles sales were also impacted by revised axle norms and financing issues due to NBFC crisis.

Though there was healthy growth in automobile sales in September and October on a sequential basis due to festive buying, this recovery was short-lived and in November, the sales again slipped in the red zone.

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