New Delhi: Automobile sales in the country is still one of the hardest hit. According to the Federation of Automobile Dealers Associations (FADA), new registrations declined by 26.81 per cent in August 2020.
Sales reduced to 11,88,087 units in August 2020, as compared to 16,23,218 units in August 2019.
However, there has been a slight increase in the month-on-month numbers, especially from entry-level passenger vehicles. The reason being personal mobility is being preferred over public transport due to the pandemic.
Overall, two-wheeler sales have reduced by 28.71 per cent to 8,98,775 units compared to last year. 3-wheelers are even more affected with sales down by 69.51 per cent.
For passenger vehicles, the gap is narrower with a decline of 7.12 per cent.
Commercial vehicles are also heavily hit, with 57.39 per cent decline to 26,536 units compared to 62,270 units in August 2019.
FADA believes that the demand can be better if non-banking finance organisations come back with more aggressive financing schemes.