Demonetisation impact: 2-wheeler sales down by 6% in November, domestic passenger vehicle sales slow

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Domestic passenger vehicle sales were up only 1.82% in November, the month Prime Minister Narendra Modi imposed the note ban depriving public of their hard-earned cash.

This has been the slowest pace since February 2016.

A PTI report said that two-wheeler sales had drop 6% after note ban declared on 8 November.

passenger vehicle sales

 

Domestic passenger vehicle sales rose 1.82 per cent to 2,40,979 units in November from 2,36,664 in the same month last year.

Domestic car sales ticked up to 1,73,606 units from 1,73,111 in November last year, according to data released by the Society of Indian Automobile Manufacturers (SIAM).

Motorcycle sales declined 10.21 per cent to 7,78,178 units last month from 8,66,696 a year earlier.

Total two-wheeler sales in November fell 5.85 per cent to 12,43,251 units compared with 13,20,552 units in the year-ago month.

Sales of commercial vehicles were down 11.58 per cent at 45,773 units in November, SIAM said.

Vehicle sales across categories registered a decline of 5.48 per cent at 15,63,665 units, from 16,54,407 in November 2015, it added.

Modi’s demonetisation of Rs 500 and Rs 1,000 notes was widely condemned with more than 80 people losing their lives due to stress. Millions of people have been queuing outside banks and ATMs to withdraw money, but there hasn’t been adequate cash to meet their demands

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