Car sales have gone down the drain in India in the last few months and there is no sign of improvement going forward. Major automobile manufacturers Maruti Suzuki, Hyundai, Tata Motors and Toyota reported a decline in domestic passenger vehicle sales in June, continuing the prolonged slump in the market due to poor consumer sentiments.
Let's take a quick look at some of the carmakers performed in terms of sales in the month of June 2019.
Maruti Suzuki India:
Maruti Suzuki India reported a 14 percent decline in total sales at 1,24,708 units in June as against 1,44,981 units in the same month last year. Domestic sales during the month were down 15.3 percent at 1,14,861 units last month compared to 1,35,662 units in June last year, Maruti Suzuki India (MSI) said in a statement.
Hyundai Motor India Ltd (HMIL):
Hyundai Motor India Ltd (HMIL) reported a 3.2 percent decline in total sales at 58,807 units in June. The company sold a total of 60,722 units in the same month last year, HMIL said in a statement. Domestic sales were at 42,007 units last month as against 45,314 units in June 2018, down 7.3 percent, it added.
Tata Motors said its passenger vehicle sales in the domestic market during the month dropped by 27 percent at 13,351 units as compared to 18,213 units sold in June 2018 due to low customer sentiments due to a liquidity crunch.
Toyota Kirloskar Motor (TKM) reported a 19 percent decline in total vehicle sales to 11,365 units in June this year. The company had sold 14,102 units in June 2018. In the domestic market, the company reported sales of 10,603 units last month, down 19 percent, as compared to 13,088 units in June 2018, TKM said in a statement.
Mahindra & Mahindra:
Automobile major Mahindra and Mahindra (M&M) reported a 6 percent fall in total sales to 42,547 units in June. The company had sold 45,155 units in the corresponding month last year, M&M said in a statement. In the domestic market, sales were down 5 percent to 39,471 units last month, compared with 41,689 units in June 2018. Mahindra & Mahindra's passenger vehicles sales were at 18,826 vehicles in June this year as compared to 18,137 vehicles in the same month last year, an increase of 4 percent.
News Source: The Economic Times