- Maruti Suzuki India sales declines 33.5 per cent 1,09,264 units in July 2019.
- Hyundai Motor India sales fell 3.8 per cent to 57,310 units in July 2019.
- Royal Enfield sales dropped 22 per cent to 54,185 units in July 2019
No denying the fact that the Indian automobile sector is going through a rough patch at the moment. Month after month, the companies are reporting decline in their sales numbers. This, in turn, is having adverse effects on the jobs as well.
Maruti Suzuki India reported a sixth consecutive montly sales decline with the numbers falling 33.5 per cent 1,09,264 units in July 2019. Hyundai Motor India sales fell 3.8 per cent to 57,310 units during the month, while the domestic sales of Honda Cars India dived 48.67 per cent to 10,250 units. In July 2019, Mahindra & Mahindra registered a plunge of 15 per cent in total sales to 40,142 units and Tata Motors saw its sales going down by 34 per cent to 32,938 units.
The two-wheeler manufacturers are facing a difficult situation as well. During July 2019, the sales of TVS Motor Company fell 13 per cent to 2,79,465 units and Royal Enfield sales dropped 22 per cent to 54,185 units. Hero MotoCorp sales dived 21.18 per cent to 5,35,810 units and Honda Motorcycle and Scooter India numbers plunged 10.77 per cent to 4,89,631 units.
“Liquidity crunch post the IL&FS situation, weak economic health (as most key economic indicators are either stagnant or declining), tighter financing conditions, uncertain regulatory landscape, abnormal monsoon pattern and rural distress and poor consumer sentiments are among the major reasons for declining auto sales