Auto sales skid again
Automobile sales in India witnessed worst-ever drop in August with despatches in all segments, including two-wheelers, continuing to plummet as the sector reels under an unprecedented downturn, industry body said on Monday.
Previously, the worst decline in the segment was registered in July this year when wholesales had fallen 30.98 per cent to 2,00,790 units. The fall in PV sales in August was also the tenth consecutive month of decline. In fact, all vehicle categories witnessed decline in sales during the month.
In the PV segment, market leader Maruti Suzuki India posted 36.14 per cent decline in its August sales at 93,173 units. Hyundai Motor India Ltd (HMIL) also witnessed 16.58 per cent decrease at 38,205 units, while Mahindra & Mahindra posted a fall of 31.58 per cent at 13,504 units during the month.
On the other hand, August retail sales data showed a somewhat better picture in terms of sales, pointing to inventory correction taking place in the industry.
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