10.08% decline registered in rate of automobile sale in last 2 quarters

Speed Post News Network

New Delhi : The Government is aware that the auto sector, which has been growing at approximately 7-8% per annum, has witnessed a sluggish rate of sales in the last two quarters. The Government, as a policymaker, always attempts to kick start the sluggish economy through a package of measures for comprehensive and continued development of the auto sector as and when required.

During the period January 2018-June 2018, a total of 13.39 million vehicles (all categories) were sold and during the period from January 2019-June 2019, 12.04 million vehicles were sold. A net decline of 10.08% was registered in the rate of automobile sale in the last two quarters. This information was given by the Minister of Heavy Industries & Public Enterprises, Arvind Ganpat Sawant, in written reply to a question in the Lok Sabha on July 16, 2019, according to a PIB release.