Filter Your Search

  • PRODUCTS
    • Accessories
    • Batteries
    • Body & Exterior parts
    • Brake Parts
    • Chassis & Suspension
    • Drive Transmission & Steering Parts
    • Electrical & Electronic
    • Engine Parts
    • Forgings & castings
    • Garage Equipments
    • Instruments
    • Interior Parts
    • Locks & Switches
    • Oil & Lubricants
    • Powertrain
    • Rubber & Plastic parts
    • Tyres
  • OEM
    • AMW
    • Ashok Leyland
    • Aston Martin
    • Atul Auto
    • Audi
    • Avan Motors India
    • Bajaj Auto
    • Bentley Motors Limited
    • BMW
    • Chrysler
    • Daimler
    • DSK
    • Ducati
    • Eicher
    • Escorts
    • Ferrari
    • Fiat
    • Force Motors
    • Ford
    • General Motors
    • Goenka Electric Motor Vehicles
    • Harley-Davidson
    • Hero Electric
    • Hero MotoCorp
    • Hindustan Motors
    • HMSI
    • Honda
    • Hyundai
    • India Yamaha Motors
    • International Cars & Motors
    • Isuzu Motors
    • Jaguar Land Rover
    • JBM Group
    • JCB India
    • John Deere
    • Kawasaki
    • Kia Motors
    • Kinetic
    • KTM
    • Lamborghini
    • Lexus India
    • Lohia Auto
    • Mahindra
    • MAN Trucks India
    • Maruti
    • Maserati
    • Mazda
    • Mercedes-Benz
    • Mitsubishi
    • Nebula Automotive
    • New Holland
    • Nissan Motor India
    • Okinawa
    • Olectra- BYD
    • Piaggio
    • Polaris
    • Porsche
    • Premier
    • PSA Peugeot Citroen
    • Renault India Pvt Ltd
    • Rolls-Royce
    • Royal Enfield
    • Scania
    • Skoda
    • Sonalika
    • Suzuki Motorcycle
    • TAFE
    • Tata
    • Toyota
    • Triumph Motorcycles India
    • TVS
    • Twenty Two Motors
    • UM Lohia Two Wheelers Pvt Ltd
    • UM Motorcycles
    • VECV
    • Volkswagen
    • Volvo
    • Volvo Group India Pvt Ltd
  • NEWS
    • Associations and Bodies
    • Awards & Inaugurations
    • Commercial Vehicles
    • Conferences & conventions
    • Corporate Profiles
    • Dealer Meets
    • Electric & Hybrid vehicles
    • Exhibitions
    • Financial Results
    • M & A and Collaborations
    • Management Changes
    • Milestones
    • Miscellaneous News
    • New Launches
    • Policy & Economy
    • Races & Rallies
    • Retail Sales & Services
    • Surveys & Reports
    • Two & Three Wheelers
Archives

Automakers stuck in slow lane

16/07/2019 | Author: Autoguide | 0 Comments Back To Home   < Previous News   |   Next news >

Sales slump for eighth straight month

With another steep double-digit decline in sales in June this year, sale of cars, SUVs, MUVs and vans in the country have now declined for eight straight months in a run that stretches as far back as October last year. Worse, sales have now declined in 11 of the last 12 months.
 
Initial reports from the top companies suggested a year-on-year (y-o-y) decline of more than 16 per cent for the PV segment and 11 per cent drop in two-wheeler sales. 
 
Market leader Maruti Suzuki India posted a 17.2 per cent dip in June at 1,11,014 units. The decline at 19.1 per cent was the steepest in its small car segment that includes Alto, Wagon R, Swift, Dzire, Baleno and Celerio.
 
Number two-player Hyundai saw a 7.3 per cent fall in sales at 42,007 units even though it has two brand new mass-market models - new Santro launched in October 2018 and the Venue compact SUV launched in May this year.
 
Tata Motors also saw a 27 per cent dip in sales even though it had launched its new midsized SUV Harrier in January. Similarly, Toyota, which launched a re-badged Suzuki Baleno as the Glanza last month under its collaboration with the market leader, suffered a 19 per cent decline in sales.
 
"The Industry has been witnessing a continuous decline in domestic sales owing to several factors that have contributed to the weak consumer sentiment. The prevailing economic uncertainty, uncertainty on monsoons, high interest costs, tight liquidity and the underlying apprehensions surrounding BS-VI introduction in few months have steered the slowdown," said Mr N. Raja, Deputy Managing Director, Toyota Kirloskar Motor.
 
The only company to have bucked the trend was Mahindra & Mahindra, which registered a 4 per cent growth in its passenger vehicle sales and an 8 per cent growth in utility vehicles, which forms a subset of its PV portfolio.
 
Mr Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, M&M Ltd, however, said, “The market sentiment continued to remain subdued, especially in the passenger vehicles segment. At Mahindra, we are happy to register a growth of 4 per cent in the segment and 8 per cent in the utility vehicles segment on the back of our three recent product launches".
 
Japanese carmaker Honda posted a staggering 41.4 per cent slump in sales in the month of June. "The auto industry is going through its worst slowdown with continuous decline for many months," said Mr Rajesh Goel, Senior Vice-President and Director, Sales and Marketing, Honda Cars India Ltd. "Going forward, any initiative that can jumpstart the demand will definitely be a positive for the industry”, he said. 
 
It is not passenger vehicles alone that are reeling under this slowdown. Sale of motorcycles, scooters, heavy trucks, buses and tractors have also suffered. 
 
TVS reported an 8 per cent decline in sale of its motorcycles and scooters during the month. Tata Motor's commercial vehicles division registered a 7 per cent decline in June. Ashok Leyland saw its sales go down by 19 per cent and Mahindra suffered a 15 per cent dip while Volvo Eicher posted a 28.5 per cent slump in sales.
 
Mr Girish Wagh, President, CVBU, Tata Motors Ltd, said, "Both M&HCV and the SCV segments have been hit by poor consumer sentiment, falling freight rates and difficulty of funding from NBFCs with a respective decline of 19 per cent and 10 per cent. In M&HCVs, the usually afloat tipper segment has also weakened due to slowdown in infrastructure projects." 
 
The month of June, with a 33 per cent deficiency in rainfall, was one of the driest ever and the impact of this was felt in sale of tractors as well. Mahindra, which is the largest tractor manufacturer in the country, registered a 19 per cent decline while Escorts saw an 11.4 per cent dip.
 
"Tractor demand remained sluggish in June. We hope that the onset of monsoon and the upcoming Union Budget allocations to the rural and agriculture sectors will drive positive sentiment in the coming months," said Mr Rajesh Jejurikar, President - Farm Equipment Sector, Mahindra & Mahindra Ltd.
 

Move To Top  < Previous News   |   Next news >

 

Leave a Comment


Not readable? Change text.

Comments