Thursday, January 10, 2013
By Pawan Rana
Car Industry’s feeble performance dampens overall sentiment, foreign car makers in tizzy
It seems that India is no longer shining for the foreign car makers. It also seems that the present growth stagnation has marred Indian car market’s image in the eyes of foreign car maker that believed it to be one of the major sources of growth. But the industry may have gone stagnant but it is still the best market for some car makers such as Audi that has registered a growth of 63 percent following its best selling offerings such as Audi Q3, Audi A4 and Audi A7 cars. likewise, Mahindra has also performed exceptionally well in December last year and thus it cannot be said that the market is in a poor state.
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Though the overall sentiment may have been low but individual car makers such as Mahindra, Ford and others have excelled following their best cars. Where Mahindra has stunned the market with its Mahindra XUV 500, Mahindra Quanto, Ford has also captured the hatchback segment with its new Ford Figo. In addition to this both Mahindra and Ford have a lot of other major launches on cards and it is believed that these car makers will be able to post decent growth in the near future as well.
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Experts believe that since the health of the industry is measured in terms of the growth Maruti India achieves and Maruti has posted only 3.2 percent growth in December then it means that the industry is certain not in a good shape. Meanwhile, the meek growth has impacted the sentiment of some of the foreign car makers such as Volkswagen, Skoda and Audi have indicated that they are not as bullish about India as they were some time back. The Major players such as Tata, Toyota, Ford and VW have posted a decline in domestic sales while Maruti, Hyundai have also posted not so inspiring growth recently. Thus, it can be said that the industry is in bad phase and it could take time to recover. Not in 2013 for sure, said sources.