Two-wheeler sales still under pressure, says SIAM

2 months ago | 09-02-2017 | ANI

New Delhi , Feb 9 : Reacting on the two-wheelers sales post demonetization, which has seen improvement although the January sales were recorded negative, Society of Indian Automobile Manufacturers (SIAM) on Thursday said that the January two-wheelers sales registered a decline of -7.39 percent as compared to January last year.

During the demonetization period sales of two-wheelers slid 22 percent in December 2016 as compared to the figures, which came in December 2015, marking the highest monthly contraction since SIAM started recording the data since 1997.

Mentioning the domestic sales for the month of January 17, it said that the overall automobile sales have declined by -4.71 percent in January as compared to January 16.

The overall passenger cars (including cars, utility vehicles, vans) sales grew by 14.40 percent, with the passenger cars sales growing by 10.83 percent.

While sales of commercial and passenger vehicles seem to have recovered from the impact of demonetisation, the two-wheeler industry continues to be under pressure.