Indian Automobile Sales

Lower fleet utilisation, weak cash flows keep NBFCs under pressure

Vehicle sales across categories stood at 16,46,332 units last month as against 20,34,597 units in February

The 3 million-plus-units domestic auto industry has seen volume plunging over 16 per cent as of December-end 2019, with some of the segments performing even worse

With total sales of 133,296 passenger vehicles, the country's leading carmaker Maruti Suzuki India recorded 2.4 per cent year-on-year rise in car sales during December

Congress leader Rahul Gandhi on Thursday attacked the Modi government over the state of the economy, saying what India needs is not propaganda, manipulated news cycles and foolish theories about millennials, but a concrete plan to fix the economy. Gandhi's attack on the government comes two days after Finance Minister Nirmala Sitharaman in Chennai on Tuesday said that the slowdown in the automobile sector was due to many factors like the change in mindset of millennials, who now prefer taxi aggregators like Ola and Uber, instead of committing for monthly installments to own a car. "What India needs isn't propaganda, manipulated news cycles & foolish theories about millennials, but a concrete plan to #FixTheEconomy that we can all get behind," Gandhi said in a tweet. "Acknowledging that we have a problem is a good place to start," the former Congress president said. Gandhi also tagged an interview of former prime minister Manmohan Singh in which he had said the government must ...

Auto sales have been declining for 13 straight months as a broader slowdown in the economy has crippled demand across the country

I have gathered that the slowdown is primarily related to poor customer sentiment in a poor economic scenario, says S S Kim

In the last three months, around 2 lakh jobs have been cut to reduce the impact of dip in sales

Passenger vehicle sales fell for eight straight months until June, and in May sales dropped 20.55% - the sharpest recorded fall in 18 years

Sales have been plummeting despite Modi's campaign pledges to help consumers. They'll need more than empty promises to start buying.

Dealers are looking to cut down on their inventory in March and April

Maruti Suzuki, Hyundai, Tata Motors and Toyota all reported double-digit growth

The report shows that in the last two years, there has been a 2.5-time increase in consumers who are taking only two months to buy a four-wheeler.