India (SIAM): Passenger car sales in July decreased by 30% year-on-year: Serious conditions continue
Bengaluru
August 23, 2019
Indian Automobile Manufacturers Association (SIAM):
On August 13th, the automobile statistics for July were announced.
Passenger car sales: [including multi-purpose vehicle UV and van]
It was only 200,790 units, down 31.0% from the previous year. The biggest decline in the last 19 years.
General passenger cars: 122,956 units, down 36.0%
UV: 67,030 units, down 15.2%
VAN: 10,804 units, down 45.7%,
Demand continues to be sluggish in each segment.
Reason for poor performance:
Lending by financial institutions that handle car loans,
Increased liability insurance premium,
Impact of soaring fuel prices
The situation is serious since November 2018, the 9th consecutive month of decline.
By manufacturer: Passenger car sales (see Table 1)
1st place: Maruti Suzuki, 96,478 units, down 36.7% from the previous year,
2nd place: Hyundai Motor decreased by 10.3% year on year to 39,010 units.
Of the 17 major manufacturers, 15 companies, excluding Volkswagen and MG Motor, had negative growth.
In response to prolonged sales slump, manufacturers have begun to reduce production and personnel to adjust inventory.
-JETRO
https://www.jetro.go.jp/biznews/2019/08/6fdb8ca3c59442e0.html