First recession in India and then the coronavirus affected people badly. Both of these conditions have caused a bad effect on the economy. The auto sector has not survived from this period of recession. According to the recent report, there has been a huge decline in the sales of passenger vehicles in India. In July, the sales of passenger vehicles decreased by 3.86 percent to 1,82,779 units which was 1,90,115 units in the same month last year.
The Society of Indian Automobile Manufacturers (SIAM) has released new data. According to which 15,11,717 two-wheelers were sold in the same month last year which is 12,81,354 units this year. There has been a huge decline of 15.24 percent in the sales of two-wheelers. In July 2019, the motorcycle sales were 8,88,520 units as compared to 9,34,021 units. In which there has been a decrease of 4.87 percent.
SIAM President Rajan Vadhera said that "After the slowdown due to corona for a few months now, there are signs of increasing sales of passenger vehicles and two-wheelers, as the year-on-year decline is much lower than in the previous month." He further said that "The sales in August will tell whether it is a permanent demand or not". SIAM Director General Rajesh Menon said that "July sales were much better than in the preceding months and it has created some confidence in the industry". He said that "Many OEMs (original equipment manufacturers) have seen sales in the last few months. Improvements have been recorded, which indicate the progress of this field. "
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