Passenger vehicle retail sales declined by 7%
Passenger vehicles retail sales has declined 7% over the year to 178,513 units in the domestic market in August 2020 due to COVID-19 related disruptions, according to data released by FADA (Federation of Automobile Dealers Associations) on Tuesday i.e.8th September .
According to Vinkesh Gulati, president of FADA, along with the rural market, which was leading the revival process till now, recovery in demand was also witnessed in urban centres during the month.
Vinkesh Gulati president of Fada added, “Passenger vehicles after five months saw decline reduced to single digits as customers who were sitting on the fence, finally concluded their purchase during ongoing festivals of Janmashtami and Ganesh Chaturthi. Entry -level passenger vehicles were in high demand as personal mobility is being preferred with current pandemic showing no signs of reduction.”
August is usually considered a weak month for vehicle sales.