As per latest data, car registrations have been steadily declining over the past few years in Delhi, except in 2017, when it rose a bit. The year so far has seen a decline that has reached 10.7%. Owing to this, Delhi, this year, has suffered in revenues also.
According to Transport minister Kailash Gahlot, Delhi is one of the biggest markets for automobiles in India but it has been declining now.
According to data from the ministry of road transport and highways and the state transport department, vehicle registrations in the capital region have declined in the first eight months of 2019, the first drop for the period in six years. There could be various reasons for this slump – slower economic growth, decrease in consumer spending, traffic congestions and parking constraints among a few.
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The number of registrations, fell by 61,198 units to 425,691 in January-August from 486,889 vehicles that were registered in the same period last year. The 12.6% decline in the period is the first since 2014.
Two-wheeler registrations fell by over 13%, that amounts to 43,182 units, to a a number of 286,467.
According to data released by the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle sales plunged 31.57% year-on-year to 196,524 units in August. Passenger car sales fell 41.09% to 115,957 units.
Truck and bus sales have also dropped by 39%.
The automobile sector is particularly going through a really bad phase with employee numbers getting cut drastically. The decline in registrations have only added to the woes.