Vehicles sales plummet for the 10th month in a row

Despite a 135 basis point rate cut since February and a number of measures announced by the central government including the corporate tax cut, vehicle sales plummeted for the tenth straight month.

Society of Automobile Sales (SIAM) data released on Friday showed that commercial vehicle sales — a proxy for the commercial health of the economy — steeply fell by of 39 percent to 58,419 units.

Signs that the customers are still away from showrooms was visible in passenger vehicles sales data which witnessed a decline of 23.69 percent to 223,317 units this September.

Read More: https://www.bhaskarlive.in/vehicles-sales-plummet-for-the-10th-month-in-a-row/