Passenger Vehicle Sales Drop Nearly 18 Per Cent In 2020 Calendar Year

The year 2020 was extremely challenging for the automobile sector, and we now have a clear picture of what it looked like as passenger vehicle sales dropped by 17.85 per cent year-on-year. According to the data shared by the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle sales stood at 24,33,464 units between January-December 2020, as against 29,62,115 units sold during the same period in 2019. The near 18 per cent decline has been recorded by the sector for the second consecutive year since PV sales were down in 2019 as well due to a struggling economy and low buying sentiment.

Also Read: Passenger Vehicle Sales Witness 13.59 Per Cent Increment In December 2020

Passenger car sales in 2020 stood at 14,32,304 units, witnessing a decline of 21.30 per cent, as against 18,19,884 units sold in 2019. Meanwhile, utlity vehicle sales dropped by 8.89 per cent with 897,406 units sold last year as opposed to 984,928 units sold the year before. Sales for vans stood at 103,754 units in 2020, declining by 34.04 per cent over 157,303 units sold in 2019.

The scooter segment in the two-wheeler sector witnessed the largest decline of 28 per cent year-on-year

The drop in volumes was even larger in the two-wheeler sector as sales declined by 23.15 per cent with 14,268,430 units sold in 2020. In comparison, 18,566,857 units were sold in 2019. Motorcycles continued to remain the largest contributors to the segment with 94,58,577 units sold in 2020, registering a decline of 21.26 per cent, as opposed to 12,011,692 units sold in 2019. However, sales of scooters witnessed the largest drop of 28 per cent with 42,05,194 units sold as, as opposed to 58,41,184 units. Mopeds contributed 603,242 units to overall two-wheeler volumes in 2020, but sales declined by 15.51 per cent over 2019. Lastly, electric two-wheeler sales stood at 1417 units in 2020, according to SIAM data.

Also Read: Electric Two-Wheelers Sales In India Sees Decline Of 5.46 Per Cent In 2020

The commercial vehicle sector also saw one of its worst years as sales dropped by 40.90 per cent. About 505,189 units were sold through the 2020 calendar year, as against 854,783 units in 2019. Three-wheeler sales declined by 62.12 per cent with 260,412 vehicles sold in last year, as against 687,446 units sold the year before.

Collectively, the auto sector sold a total of 17,467,456 units between January and December 2020, registering a decline of 24.29 per cent as against 23,072,564 units sold in 2019.