Indian automobile industry under intense pressure, Almost all major companies witness major sales decline in July 2019

As the slowdown continues to plague the auto sector, almost all the car makers have registered negative growth with a significant reduction in sales in July 2019 as compared to same month last year. The July sales have been the lowest in past two decades. The only exception here is Volkswagen that has registered marginal growth of 1.40%. Not only the overall slowdown has been the primary cause of the poor show of the companies, older models have suffered been affected more due to launch of new models. Hyundai getting 50000+ bookings for venue would have seriously dented the sales of Maruti Suzuki Vitara Brezza.
Maruti Suzuki witnessed a decline of 36.7% YOY, which is its two year low and now stands with a market share of 48.5% which is a decrease of almost 4.5%. India’s second largest car maker Hyundai’s market share has improved by 4.44% to reach 19.52% in July 2019. However, it too is feeling the heat of slowdown and its sales have fallen by -10.30%. At number three, Mahindra has increased market share by 1.60%, up from 6.86% in July 2018 to 8.4% in July 2019.

YOY sales figure for July 2018. All major car makers witnessed a negative growth.

Toyota Kirloskar Motor popped in at fifth position by finishing ahead of Honda by a slender margin of 173 units with 23.8 per cent sales decline. Honda Cars India, on the other hand, endured the biggest sales slump out of other mainstream volume sellers. The Japanese brand’s total domestic sales stood at 10,250 units as against 19,970 with YoY negative growth of 48.7 per cent.

However, overall sales are down -14.91%. Other car makers that have witnessed significant drop in sales in July 2019 include Jeep (-58.46%), Nissan Datsun (-53.46%), Honda (-48.67%), Renault (-41.13%), Tata Motors (-38.61%), Toyota (-23.79%), Ford (-19.60%) and Skoda (-14.60%).

Related posts