(Video) Rajya Sabha TV (RSTV) The Big Picture: Speed Bump for Auto Sector

Topic: Speed Bump for Auto Sector

Guest:

Arun Malhotra, (Auto Expert & Former MD Nissan India)
Vinkesh Gulati, (Vice President Federation of Automobile Dealers Association)
Subhomoy Bhattacharjee, (Consulting Editor, The Business Standard)

Topic Description:

Automobile sales in India witnessed its sharpest decline in nearly 19 years in July, dropping 18.71 per cent, rendering almost 15,000 workers jobless over the past quarter. As per data released by the Society of Indian Automobile Manufacturers vehicle sales across categories, including passenger vehicles and two-wheelers, stood at 18.2 lakh units last month as against 22.4 lakh units in July 2018, down by nearly 19 per cent. The previous biggest decline across overall domestic automobile sales was recorded in December 2000 when it fell 21.81 per cent. Similarly, domestic PV sales also saw the biggest fall in nearly 19 years, slumping by 30.98 per cent from July 2018 to 2019. Previously, the worst decline was registered in December 2000, when wholesales had fallen 35.22 per cent. The fall in PV sales in July was also the ninth consecutive month of decline. SIAM said passenger car sales in July were also worst since December 2000 when the segment had declined by 39.86 per cent. Last month, domestic car sales were down 35.95 per cent at as against July 2018.