Passenger vehicle sales drop 1% in February

NEW DELHI: Passenger vehicle sales declined for the seventh time this fiscal in February as high insurance costs, liquidity tightening in the market continued to weigh on consumer sentiments.

As per data available with industry body Society of Indian Automobile Manufacturers (SIAM), passenger vehicle sales last month declined by 1.11% to 272284 units.

Sales of commercial vehicles in the period under review decreased 0.43% to 87436 units. Three-wheeler sales fell 4.14% to 59875 units. Sales of two-wheelers dropped 4.22% to 1615071 units. Overall, vehicle sales across categories declined 3.65% to 2034768 units.


Automakers now expect the market to revive only after the general elections later this year.