PV retail sales drop 7% in June

Overall passenger vehicle registrations stood at 2,81,566 units last month, as compared to 3,02,000 units in June 2023

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Passenger vehicle retail sales in India witnessed a 7 per cent on-year decline in June as severe heatwave conditions resulted in 15 per cent less showroom walk-ins, industry body FADA said on Friday.

Overall passenger vehicle registrations stood at 2,81,566 units last month, as compared to 3,02,000 units in June 2023.

“Despite improved product availability and substantial discounts aimed at stimulating demand, market sentiment remains subdued due to extreme heat resulting in 15 per cent less walk-ins and delayed monsoons,” the Federation of Automobile Dealers Associations (FADA) President Manish Raj Singhania said in a statement.

Dealer feedback highlights challenges such as low customer inquiries and postponed purchase decisions, he added.