August auto retail sales up sequentially, down on YoY basis

New Delhi, Sep 9 (IANS) Vehicle registration or retail sales rose in August on a sequential basis, industry data showed on Wednesday.However, the data also showed that sales remained deep in the red on a year-on-year basis.The Federation of Automobile Dealers Associations' data showed that vehicle registration in August rose to 11,88,087 units from a retail off-take of 11,42,633 units reported for July.Nevertheless, on a YoY basis, August retail sales declined by 26.81 per cent to 11,88,087 units from 16,23,218 units off-take during the like month of last year.In July, the downslide rate in vehicle registration was 36.27 per cent on a YoY basis.The 'green shoots' in sequential retail off-take were witnessed on the back of lower base and festive season.Nonetheless, the trend also showed that India's auto sector continues to reel under the economic impact of the Covid-19 outbreak.
--IANS
rv/sn/vd