By CNBC-TV18 Feb 21, 2020 6:42:58 AM IST (Updated)
The economic slowdown is wreaking a havoc on the automobile industry in the country. All major automakers in the country reported declining sales throughout the course of last year and the downturn continued this year as well as manufacturers reported a 13 percent decline in January year-on-year. Now, vehicle registration data has rubber-stamped the downturn.
The economic slowdown is wreaking havoc on the automobile industry in the country. All major automakers in the country reported declining sales throughout the course of last year and the downturn continued this year, as well as manufacturers, reported a 13 percent decline in January year-on-year. Now, vehicle registration data has rubber-stamped the downturn.
Overall vehicle registration fell 7.17 percent in January year-on-year, according to data released by the Federation of Automobile Dealers Associations (FADA) on Thursday.
Two-wheeler registration slid 8.82 percent, passenger vehicle was down 4.62 percent and commercial vehicle registered reported a decline of 6.89 percent. Three-wheeler registration was up 9.17 percent, while tractor registration saw a 5.11 percent increase.