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Cars Sales Down 4.65%; Slump Claims 1.5 L Jobs

PUBLISHED BY: SURENDER KUMAR
APRIL 11, 2014

   
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Cars Sales Down 4.65%; Slump Claims 1.5 L Jobs

 

Car sales in India have dipped by 4.65 % for the second consecutive year in 2013-14 as the auto industry struggles with a slump due to a sluggish economy. The auto slowdown has claimed around 1.5 lakh jobs across the entire value chain. According to data from the Society of Indian Automobile Manufacturers (SIAM), domestic car sales in FY14 were 17,86,899 units as compared to 18,74,055 units in the previous year. In 2012-13, car sales had fallen by 6.69 %, the first ever decline in a decade.

However, two-wheelers did well with a growth of of 7.31 %, selling 1,48,05,481 units against 1,37,97,185 units in FY13. Motorcycle sales in 2013-14 were 10,479,817 units against 1,00,85,000 units in the previous year, up by 3.91 %, says the report. Scooters also had a robust growth of 23.24 % in FY14 at 36,02,744 units as compared to 29,23,424 units in 2012-13. Commercial vehicles, however, continued to face a prolonged slump, declining by 20%.



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