New Delhi: Due to the economic downturn in the country, all industries are suffering. Companies' profits are declining rapidly. Due to no demand, production is being cut. Due to which large scale layoffs are taking place. Automobile manufacturers' organizations are also pointing to the SIAM figures. According to the data, passenger vehicle sales fell 31.57 percent to 1,96,524 vehicles in August. While 2,87,198 vehicles were sold in August last year. Car sales in the domestic market declined 41.09 percent to 1,15,957 cars in August 2019 as compared to 1,96,847 cars sold in August a year ago, according to SIAM figures.
Sales of two-wheelers declined by 22.24 percent to 15,14,196 units during the period, compared to 19,47,304 two-wheelers sold in the country in the same month a year ago. In this, sales of motorcycles declined by 22.33 percent to 9,37,486 motorcycles as against 12,07,005 motorcycles sold in the same month a year ago. Commercial vehicle sales also declined by 38.71 percent to 51,897 vehicles as per SIAM data. Overall, if we talk about all types of vehicles, then in August 2019, total vehicle sales fell by 23.55 percent to 18,21,490 vehicles as compared to 23,82,436 vehicles sold in the same month a year ago. The automobile industry has demanded a special package from the government. The government has given a helping hand.
Government can fund this Telecom company lying in debt
Union Minister Prakash Javadekar said this about current economic condition of country