Meanwhile, vehicle registrations, often seen as a key metric of sales at the dealership-level, fell 16.8% on a monthly basis and 10.8% on a yearly basis in August.
India’s largest automaker, Maruti Suzuki, on Sunday reported a nearly 33% decline in its sales at 1.06 lakh units in August.
In a statement put out on Sunday afternoon, Maruti Suzuki India (MSI) noted that it had sold 1,06,413 units in August as compared to 1,58,189 units in the same month last year. This represents a 32.7% decline in sales, a significant drop.
Domestic sales declined by 34.3% at 97,061 units last month as against 1,47,700 units in August 2018, it added.
Sales of mini cars comprising Alto and WagonR stood at 10,123 units as compared to 35,895 units in the same month last year, down 71.8%.
Sales of compact segment, including models such as Swift, Celerio, Ignis, Baleno and Dzire, fell 23.9% at 54,274 units as against 71,364 cars in August last year.
Mid-sized sedan Ciaz sold 1,596 units as compared to 7,002 units earlier.
However, sales of utility vehicles, including Vitara Brezza, S-Cross and Ertiga, rose 3.1 per cent at 18,522 units as compared to 17,971 in the year-ago month, MSI said.
Exports in August were down by 10.8% at 9,352 units as against 10,489 units in the corresponding month last year, the company said.
Vehicle registrations also down?
A Bloomberg analysis put out on Sunday afternoon also noted that vehicle registrations, often seen as a key metric of sales at the dealership-level, fell 16.8% on a monthly basis and 10.8% on a yearly basis in August 2019.
This is according to data from 1,171 regional transport offices in 31 states and union territories collated by the financial news provider from the website of the Ministry of Road, Transport and Highways.
“Retail auto sales in August dipped to a 20-month low as buyers stayed away despite heavy discounts and financing continued to be tight,” it noted.