Passenger Vehicle Sales Drop Nearly 18 Per Cent In 2020 Calendar Year
Passenger Vehicle Sales Drop Nearly 18 Per Cent In 2020 Calendar Year
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Highlights
Two-wheeler sales registered a drop of 23.15% with 14,268,430 units sold
The CV sector remains one of the worst hit with a nearly 41% decline
The year 2020 was extremely challenging for the automobile sector, and we now have a clear picture of what it looked like as passenger vehicle sales dropped by 17.85 per cent year-on-year. According to the data shared by the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle sales stood at 24,33,464 units between January-December 2020, as against 29,62,115 units sold during the same period in 2019. The near 18 per cent decline has been recorded by the sector for the second consecutive year since PV sales were down in 2019 as well due to a struggling economy and low buying sentiment.