New Delhi, June 11 (IANS) Domestic passenger cars’ sales continued to decline in May, the segment’s off-take fell 26.03 per cent.
According to industry observers, high base effect, along with low demand and high interest cost continued to dent purchases.
According to the Society of Indian Automobile Manufacturers (SIAM), passenger cars sales in the domestic market dropped to 147,546 units from 199,479 units sold during May 2018.
Among the other sub-segments of passenger vehicles, the number of utility vehicles sold in India went down by 5.64 per cent to 77,453 units in May 2019, while 14,348 vans were sold last month, down 27.07 per cent from 2018.
Overall, passenger vehicle sales declined 20.55 per cent in May to 239,347 units from 301,238 units.