Thursday, October 03, 2019
By Kamal Swami
Indian Car Market Continues To Struggle For An Increase In The Sales
With lucrative discounts offered by most of the carmakers during the festive season to allure the buyers for enhancing their sales, the Indian car market continues to struggle for enjoying an increase in sales. According to sales statistics revealed by most of the leading car manufacturers like Maruti Suzuki India Limited, Hyundai Motors India Limited, Honda Cars India Limited, Mahindra & Mahindra Tata Motors, Toyota have reported witnessing a double-digit decline in the passenger sales during September 2019.
It is reported that the leading car manufacturing company Maruti Suzuki India Limited sales declined by 26.7 percent from 1,53,550 units during the month of September 2018, to 1,12,500 units during the month of September 2019. The same reports of a decline in the sales are also received from the second largest car manufacturing company Hyundai Motors India Limited has recorded the decline of 14.8 percent with 40,705 units sold during the month of September this as compared to 47,781 units sold during the same period last year. Commenting on the matter of decline in the sales. Mr. Veejay Ram Nakra, M&M Chief of Sales and Marketing, Automotive Division, said," We are positive that this festive season, with the onset of Navratra, will augur well for us and the automotive industry." Moving ahead, he also added that the factors like a good monsoon and recently announced incentives by the central government are expected to play a vital role in boosting the sales in the coming days.
The third-largest car manufacturing company Honda Cars India Limited has recorded a huge decline of 37.24 percent during the month of September this year. The company sold out 9,301 units this month as compared to 14,820 units sold during September last year. In the words of Mr. Rajesh Goel, Senior Vice-President and Director, Sales and Marketing, HCIL, said, "While the market remained tough in September, the auto sales saw an up-tick from this August which is a positive sign,"
The sales of domestic car maker Tata Motors has also witnessed a drop of 56 percent in the sales during September 2019. According to the sources of the company, it managed to sale to 8,097 units in September this year as against 18,429 units sold during September 2018.
The same decline is witnessed by the Toyota Kirloskar Motors, the Indian alliance of Japanese car maker Toyota Motors. The carmaker sold out 10,203 units during the month of September 2019, whereas the sales for the same period last counted to 12,512 units.
It would be interesting to know that despite the huge decline in the sales, the car manufacturers are optimistic to recover from the existing situation in the coming weeks.