Downfall in production continues in Auto industry sector

Greater noida (Rohit kumar): SIAM released the auto industry sales performance data for january 2020 and April-January 2020. According to the report of SIAM.

Production Jan 2020
the industry produced a total 2,151,544 vehicles including passenger vehicles, commercial vehicles, three wheellers , two wheelers and quadricycle in January 2020, as against 2,405,883 in January 2019.

Production April-January 2020
The industry produced a total 22,887,954 vehicles passenger vehicles, commercial vehicles, three wheelers, two wheelers and quadricycle in April-January 2020 as against 26,259,653 in April- January 2019.

Commenting on the January data Mr Rajesh Menon, DG SIAM stated “Wholesale sales continue to dip in all segments barring the tree-wheelers segment.”

Mr Rajesh Wadhera, President SIAM stated”sales of vehicles continue to be stressed due to rising cost of vehicles ownership and slower growth in GDP. we are hopeful that the recent announcements of the government on infrastructure and rural economy would support growth of vehicles sales going forward, especially in commercial vehicles and two-wheeler segment.The excellent response of auto expo 2020, should also help to build positive consumer sentiments and improve sales in upcoming months.”