New Delhi: The base effect, along with weak consumer sentiment and high-interest costs, dragged passenger vehicle retail sales lower by two percent on a year-on-year basis in April.
According to data furnished by the Federation of Automobile Dealers Associations (FADA), passenger vehicle retail sales, last month declined to 242,457 units from 247,278 units reported for the corresponding month of previous fiscal.
The data also showed that Vehicle Retail Sales across categories including PVs, commercial vehicle, two-wheelers, and three-wheelers were lower by eight percent on a year-on-year basis. Sales declined to 16,38,470 units from 17,86,994 units reported for the corresponding month of previous fiscal.
“The month of April ended on a negative note. Amongst the categories on a YoY basis, commercial vehicles, and three-wheelers...” FADA President Ashish Harsharaj Kale said in a statement.
“... which registered the highest growth during FY’19 witnessed the highest fall in the month of April, while 2W and PV de-grew (-) nine percent and (-) two percent respectively.”
FADA said that accordingly if Vehicle Retail Sales and dealer inventory levels continue to remain high and require further correction than done in recent months. (IANS)
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