india’s passenger vehicle industry suffered its worst sales performance in nearly 19 years in July as a slowing economy, higher ownership costs and floods in some states deterred buyers. Sales fell 31% to 200,790 vehicles last month from 290,931 units a year earlier, showed data released on Tuesday by the SIAM. It was the worst sales performance since a 35% decline in December 2000.
In July, passenger car sales plunged 36% to 122,956 units, while utility vehicles recorded a 15% drop to 67,070 units. Vans suffered a 46% decline to 10,804 units. Industry body Siam releases wholesales, or factory dispatches, of automobiles, and not retail sales. The drop in sales came despite the recent introduction of models such as Mahindra and Mahindra Ltd’s XUV300, hyundai Motor india Ltd’s Venue and MG Motor india Ltd’s Hector models. The new models have seen robust demand despite a weakness in the overall market.
Maruti Suzuki india Ltd reduced wholesales of its Vitara Brezza compact sport utility vehicle because of weak demand, emerging competition and its recently announced plans to phase out diesel vehicles from next April. hyundai and Mahindra and Mahindra reported 10% and 15% decline in sales, respectively in July.
Automakers offer discounts of up to Rs.1 lakh to take off Reportedly with only five months to go for new emission norms to kick in, automakers have started the drive to launch BS-VI petrol vehicles. However, BS-VI variants seem to move slower with customers preferring BS-IV variant products in the current festival season. Auto companies have been doling out a number of offers to reduce their BS-IV inventories with some offering discounts up to ₹1 lakh on certain products in their portfolio.
- Maruti Suzuki India is providing offers up to Rs 96,100 on Vitara Brezza
- Skoda Octavia's next generation sketches revealing
- Urbanite brand to be a new division under Bajaj Auto & will spawn electric scooters
- After RTC, cabs to go on strike
- Actor Rajkummar Rao brought home Harley-Davidson Fat Bob, priced from Rs. 14.69 lakh
- Auto sector continues to be on slide due to low consumer demand
- Jawa 90th Anniversary Edition launched in India at Rs.1.73 Lakhs
- Mercedes-Benz delivered over 200 cars on the occasion of Dussehra and Navratri
- 8000 Indians only need Electric Cars
- Priced between Rs. 15 and Rs. 17 lakh, Nexon EV will be launched in FY 2020
- Maruti Suzuki S- Presso launched in India
- MG Hector is open for bookings once again for a limited period
- Benelli India has started pre-booking of the retro-classic Imperiale 400
- Maruti Suzuki anticipates Sales to exceed in September
- Scooters India developed five prototypes of EVs but it is yet to get regulatory clearance for them