After showing a brief pick-up during the festive season, sales of passenger vehicles, trucks, motorcycles and scooters have again tapered off in November, with sluggishness in the broader economy, stringent financing norms and the industry’s impending transition to BS VI emission standards impacting demand. Automakers dispatched 263,773 passenger vehicles to dealers last month, a decline of 0.84%, shows data available with industry body Society of Indian Automobile Manufacturers. Passenger car sales in the local market dropped by 10.83% (to 160,306 units) in the period under review, but strong demand for utility vehicles lifted overall volumes. Sales of utility vehicles rose 32.70% to 92,739 units in November. “The wholesale reported in the passenger vehicle segment has come on a low base of last year. Some new launches in the utility vehicle segment have helped prop up sales in October and November,” SIAM director general Rajesh Menon said. Passenger sales had risen marginally for the first time in 11 months in October, aided by the festive season and the introduction of new models in the utility vehicle space.

(Economic Times)