Business

June PV retail sales dip 4.6% on liquidity issues

New Delhi: Automobile dealers’ body FADA said retail sales of passenger vehicles (PV) in June declined by 4.6% to 2,24,755 units as compared to the same period last year, hit by liquidity issues and delayed monsoon.

According to Federation of Automobile Dealers Associations (FADA), PV sales stood at 2,35,539 units in June 2018. PV wholesales, on the other hand, declined by 17.54% to 2,25,732 units in June from 2,73,748 units in the year-ago period.

Two-wheeler retail sales declined by 5% to 13,24,822 units last month compared with 13,94,770 units in the year-ago period. Commercial vehicle sales dropped by 19.3% to 48,752 units against 60,378 units in June last year.

Three-wheeler sales saw a dip of 2.8% to 48,447 units last month from 49, 837 units in the same period last year. Total sales across categories declined by 5.4% to 16,46,776 units in June as against 17,40,524 units in the same month last year.

“Despite starting the month with a positive outlook and hope, the monthly sales ended in a de-growth due to continued liquidity tightness and a much-delayed monsoon,” FADA President Ashish Harsharaj Kale said.

Even with inquiry levels being reasonably strong, retail sales got affected as consumer sentiment continued to be weak and purchase postponement was seen across all segments, he added. In the April-June quarter, passenger vehicle sales declined by 1%.

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