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Tata Motors and its subsidiary Jaguar Land Rover actually marked the beginning of the car sales doom not just in India, but globally. Throughout the year, Tata Motors was in news month after month for its declining sales, downgrades from rating agencies. Between July and September 2019, Tata Motors reported a net loss of ₹216.5 crore.
In 2019, auto manufacturers were a part of the front page headlines every other day, but mostly for the bad news.
The Indian auto industry has been in the middle of a massive slowdown for over a year now.
Tata Motors, Mahindra, Maruti Suzuki, Hyundai and Honda were the top newsmakers of 2019 according to a report by Wizikey.
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It has been a terrible, terrible 2019 for the Indian auto industry as it suffered through one of the biggest slowdowns in decades. The biggest of auto manufacturers had to shut down production for days due to low demand. Though the festive season brought in a bit of a cheer, the automakers are now looking to wrap up 2019 and gear up for 2020 with new launches and hopefully, better sales.
Due to the many events, in 2019, auto manufacturers were in the news but it was mostly bad news.
Here’s a look at the top newsmakers from the auto industry in India in 2019, according to a report by the technology-led PR platform Wizikey.
Tata Motors and its subsidiary Jaguar Land Rover actually marked the beginning of the car sales doom not just in India, but globally. Throughout the year, Tata Motors was in news month after month for its declining sales, downgrades from rating agencies. Between July and September 2019, Tata Motors reported a net loss of ₹216.5 crore.
However, with the launch of Tata Tigor electric version and Tata Harrier, the company saw an uptick. With 2020, Tata is pinning its hopes on the re-launch of the iconic Defender and improving JLR sales.
Maruti Suzuki
One of India’s biggest car manufacturers, Maruti Suzuki continues to reel under the pressure of an auto slowdown. From laying off employees to shutting down plants, Maruti was in the news for several reasons. But it was most in news in September as it saw a record a jump in sales thanks to the festive season. According to the Wizikey report, Maruti’s announcement of having sold over two lakh BSVI vehicles brought in hope and cheer.
Honda
Honda was not one to be spared by the auto slowdown and the negative coverage around it. Reports of flailing sales to reported layoffs , made Honda a top newsmaker of 2019. In November alone, Honda saw a 50% year-on-year decline in sales.
Mahindra & Mahindra
Another auto manufacturer Mahindra & Mahindra has been another newsmaker of the year. The Anand Mahindra-led group hit the headlines for its decision to stop production. But it also received coverage over government’s decision to cut tax on the purchase of Electric Vehicles in July. Mahindra stood to directly benefit from this move as its e20 was then the only commercial EV available. It then followed up with more EV launches like the E-KUV 100.
Hyundai
The Korean manufacturer was another big newsmaker in India, thanks to its push into the Indian market. The relief it received from the government, to the launch of its electric vehicle Kona and then the subsequent investment of ₹7000 crores in Indian EV sector, kept the company’s name buzzing.