Automobile dealers' body FADA Wednesday said retail sales of passenger vehicles (PV) in March declined by 2 per cent to 2,42,457 units as compared to the same period last year.PV sales stood at 2,47,278 units in April 2018, according to Federation of Automobile Dealers Associations (FADA). Two-wheeler sales declined by 9 per cent to 12,85,470 units last month compared with 14,09,662 units in the year-ago period.Commercial vehicle sales declined by 16 per cent to 63,360 units against 75,622 units in April last year. Three-wheeler sales saw a dip of 13 per cent to 47,183 units last month. Total sales, across categories, declined by 8 per cent to 16,38,470 units in April, against 17,86,994 units in the same month last year. "We believe that high inventory at this time is an extra burden on the auto dealers especially when the current environment is witnessing negative sales growth combined with extremely tight working capital availability," he added.

Source: dna May 08, 2019 09:33 UTC