The automobiles continued to recover in August and the deficit came down with last year’s sales. As demand improved during festivals like Ganesh Chaturthi and Onam, showed vehicle registration data. Vehicle registrations in the country increased by 4% in August from July but the registrations were 27% less when compared to August 2019.It was an improvement over July.
Covid crumbled major economies but post lockdown things are getting better .First half of year for automobile sector were devoid of sales. Month on month sales of auto sector got improved , it’s on increase. August 2020 had seen huge spike on sales its year on year sales have increased.
The automobiles continued to recover in August and the deficit came down with last year’s sales. As demand improved during festivals like Ganesh Chaturthi and Onam, showed vehicle registration data. Vehicle registrations in the country increased by 4% in August from July but the registrations were 27% less when compared to August 2019.It was an improvement over July.
Vinkesh Gulati, president of the Federation of Automobile Dealers’ Associations, he is a lobby vehicle retailers. He said as the festival season starts & government try to re-open again in India.The month of August saw a good number comparatively to previous month.
The recovery in passenger vehicles, with sales lowered 7% to about 178,500 units from August 2019. Two-wheeler sales got lowered 29% from a year ago, while three-wheeler and commercial vehicle sales declined 70% and 58%, respectively. Tractor sales were higher than a year earlier for the third straight month due to good monsoon rain and better rural sentiment.
The recovery might break in September, due to the Shraadh period this month which is considered inauspicious by some communities.During the period of October & November retailer will be focusing on customer as the booking of vehicles starts from Navratri & Diwali.
Major companies whose sales have been increased .There is a demand for compact small cars or passenger vehicles. Demand were lowered not vanished from the market. People are also buying vehicles so that they can follow social distancing, now people are scared from traveling in public vehicles. It’s one of the factor in increase on sales. Passenger vehicles sales increased by 20 percent last month, contrasting figure in August 2019. August 2020 sales were 18.5 percent higher than July 2020
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