19.7 C
New York
Sunday, September 25, 2022

Buy now

spot_img

Retail Auto Sales Fall 8% In July 2022 As Two-Wheelers Remain Under Pressure


Passenger vehicle sales fell 4.7% to 250,972 units in July. But the segment is well-placed to perform better in the coming months as demand remains strong, the association said.

“The PV segment is witnessing a dream run as retail sales are already higher than 2019. Even though there is a blip in July numbers, the industry is continuously introducing new models, especially in compact SUV segment,” Gulati said. “Along with this, a better supply in coming months will help in bringing down customer anxiety due to large waiting period. We also urge all PV OEMs to recalibrate their supplies as per the market demand and avoid pushing low-moving stocks.”

Due to the lower Kharif sowing on account of an erratic monsoon in July, the sales of tractors declined 27% year-on-year.

The commercial vehicle category witnessed higher demand in July as sales rose 27% to 66,459 units. According to FADA, the government’s push on infrastructure continues to support sales of commercial vehicles. “Apart from this, the bus segment is also witnessed beginning of demand recovery as educational institutions and offices are once again back to normal mode.”

Commercial vehicle sales, however, are still 4% lower compared to the pre-Covid level.





Source link

Related Articles

Stay Connected

0FansLike
3,498FollowersFollow
0SubscribersSubscribe
- Advertisement -spot_img

Latest Articles