Mykotori

Demand slump continues in April: What falling car, two-wheeler sales figures tell us about state of Indian economy

Automakers, including the market leaders, aren’t having a good time in India. In April too, India’s top carmakers have seen degrowth in their sales. April can be blamed for being a typical dull month but when the degrowth is sustaining for good ten months, we know there is a real problem on the demand front.

Maruti Suzuki India (MSI) and Hyundai Motor India too, had also reported a decline in their domestic sales in April. MSI reported 18.7 percent fall while Hyundai posted a decline of 10.1 percent during this period. That’s not all.

Most other competitors too have witnessed a consistent degrowth in their sales numbers too. Tata Motors’ passenger vehicle sales in the domestic market declined by 26 percent to 12,694 units last month, compared with 17,235 units during the corresponding period the previous year. Mahindra & Mahindra (M&M) saw its passenger vehicle sales drop 8.94 percent to 19,966 units in April as against 21,927 units in the year-ago period.

Toyota Kirloskar Motor said its domestic sales last month stood at 10,112 units against 13,037 units during the same period in 2018, a decline of 22.43 percent.

Original Source

 

DylanThomas

Add comment