Car sales plummet by 50%

Date:

Total industry sales in August 2022 clocked in at 15,962 units—a 50% slump in annual sales.

A report by AKD Research suggested that the 1000cc segment emerged as the least favorite category, posting a drop of 83%YoY followed by the 800cc and below segment, declining 59%YoY and the 1300cc and above segment witnessing decline of 22%YoY.

One caveat to note is, sales of the Corolla & Yaris vehicles for the month (2,901) are higher than the production number (2,216), as the company draws down into the previous month’s inventories. On the other hand, production for the Wagon-R, Cultus, Bolan and Ravi have remained noticeably higher than sales in the last two months, while Alto has been dispatched in accordance with production.

Car sales | Balance Sheet from Narratives Magazine

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