The crisis in the Indian auto sector is deepening. The monthly passenger vehicle and car sales recorded its steepest ever fall in August, a record fall in 10th straight month.

According to data released by Society of Indian Automobile Manufacturers (SIAM) on Monday, 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.

This is the worst-ever fall for both the categories since SIAM started recording the data in 1997-98. Truck and bus sales dropped 39%. Two-wheeler sales fell 22% to 1.5 million units.

Last week, transport minister Nitin Gadkari had assured automakers that there were no plans to ban petrol and diesel vehicles.

Road and Transport minister Nitin Gadkari assured them that the government was working to help the sector and said he had asked the finance ministry to consider cutting taxes on petrol and diesel, as well as hybrid vehicles.

(with agency inputs)