The two-wheeler industry was hit by an increase in insurance rates, liquidity crunch, poor sentiment, rural distress and uncertainty over the BS-VI regulations, among other factors.
TE Narasimhan reports.
Automobile retail sales dropped by 7.5 per cent year-on-year (YoY) in May 2019 to 17,71,920 units from 19,14,795 units in May 2018, the Federation of Automobile Dealers Associations (FADA) said on Friday.
The worst hit was the two-wheeler industry due to an increase in insurance rates, liquidity crunch, poor sentiment, rural distress and uncertainty of the BS-VI regulations, among other factors.
Earlier last week week, the Society of Indian Automobile Manufacturers data, which is for wholesale figures, showed a fall of 8.62 per cent in total domestic sales in May 2019 compared to May 2018.
