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Automobile sales drop 7.5% YoY in May 2019, two-wheeler worst hit: FADA

More car buyers opting for high-end models with safety feature, accessories
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Automobile retail sales dropped by 7.5 per cent year-on-year (YoY) in May 2019 to 17,71,920 units from 19,14,795 units in May 2018, the Federation of Automobile Dealers Associations (FADA) said on Friday.

The worst hit was the two-wheeler industry due to an increase in insurance rates, liquidity crunch, poor sentiment, rural distress and uncertainty of the BS-VI regulations, among other factors.

Earlier this week, the Society of Indian Automobile Manufacturers data, which is for wholesale figures, showed a fall of 8.62 per cent in total domestic sales in May 2019 compared to May 2018.

Source: Business Standard