People are in no hurry to get their own wheels1 min read 14 Jul 2020, 03:17 PM IST
The latest passenger vehicle sales figures released by SIAM show a drop of about 50% in June. This suggests that a big covid-induced switchover to private transport is yet to materialize.
Latest automobile sales figures from the Society of Indian Automobile Manufacturers (SIAM) offer a picture of an economy in pain. On Tuesday, the automotive body put out data for June—after failing to issue numbers for the previous two months, perhaps on account of lockdown constraints on data gathering. Last month marked the start of our “unlock" phase, and hopes had arisen of a burst of pent-up demand coupled with a new desire for personal wheels, given the infection risks of public transport. The offtake of passenger vehicles, however, was only half the figure achieved in June 2019. For the first quarter of 2020-21, sales were down some 78%, year-on-year.
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