Car sales in India has reported a drop in sales for second consecutive month in October. As per sales report released by Society of Indian Automobile Manufacturers (SIAM), car sales in the month of October has dropped by about 2.55% at 1,59,036 unit as against 1,63,199 units sales reported for the same month last year.
Speaking more on the occasion, Sugato Sen, SIAM Deputy Director General said, “Festival season has been subdued as compared to last year. Also, the sentiment has become positive but unless we have some real economic growth kicking in, we might not see automobile sales going up. Though we might see some revival in sales early next year, the passenger vehicle segment and passenger cars are expected to grow at sub-5 per cent this fiscal.” Until this year end car sales in the country are expected to see a drop, whereas a rise in numbers can be noted starting early next year.
It is worth noting that car sales in the country witnessed a good number from May to August post two years of slump in the industry. The numbers however started witnessing a slight slump from September this year. Motorcycle sales has also reported a dip of about 8.73% with 10,08,761 units reportedly being sold as against 11,05,269 units sold in the same period in 2013. Speaking more on the occasion, Sen added, “Motorcycle sales will remain subdued till the end of the year. It follows a pattern. Last year sales were up in October but fell in November and this year sales were up last month and fell in October.”
