Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>Latest data released by SIAM showed a continuing downward trend for the auto industry in India.</li><li>There was a downfall of 21% in the purchase of passenger vehicles sold in May, from 3 lakh units to 2.39 lakh units in the same month a year before.</li><li>In April, passenger vehicle sales were down by 17%.</li><li>The overall Commercial Vehicles segment registered a decline of 8.05% in April-May 2019. </li></ul>The sale of passenger vehicles declined by 18.82% in April-May 2019 over the same period last year, the worst in 18 years, according to data by Society of Indian Automobile Manufacturers (SIAM). Within the Passenger Vehicles (cars, UV’s/SUV’s,and vans), the sales for Passenger Cars, Utility Vehicle &amp; Vans declined by 22.98%, 6.15% and 28.57% respectively in April-May 2019, compared to the same period last year. The data showed a downfall of 21% in the sale of passenger vehicles in May, 2019 from 300,000 units to 239,000 units in the same month in 2018. As per <a href="https://timesofindia.indiatimes.com/business/india-business/passenger-vehicle-sales-decline-most-in-18-yrs/articleshow/69749043.cms">experts </a>, different factors may be contributing to this lowering trend in <keyword id="47168" type="COMPANY" weightage="20" keywordseo="Car-sales">car sales</keyword>. First being the declining health of the Indian economy. The GDP growth figure for the third quarter of FY19 was merely 6.6% — the lowest in five quarters. This can be a worrying situation for the government as well, because private consumption has been a strong pillar of India’s growth story, which is now slumping. Amongst other factors, slowdown in urban hubs is being attributed to the popularising shared mobility like Ola and UBER. Rising congestion on roads and improvement in public infrastructure are also important to this phase. Despite the addition of new models, such as Hyundai’s hatchback Santro, Maruti’s tallboy WagonR, TATA’s Harrier off-roader, and Mahindra’s Marazzo and XUV 300 SUV’s, buyers are not warming up to the new launches. In rural areas the slowdown in sales is being attributed to the stressed farm loans. In a statement, Director General of SIAM, Vishnu Mathur, <a href="https://timesofindia.indiatimes.com/business/india-business/passenger-vehicle-sales-decline-most-in-18-yrs/articleshow/69749043.cms">said </a>the “Buyers need affordability. The situation is very serious.” Mathur added that the industry is saddled with heavy inventory, and despite offering deep discounts and freebies, companies do not see fresh investments and expansion till the situation improves. The introduction of the new BS6 (Bharat Stage 6) emissions regulations from 1 April 2020, new technology will be needed to keep emissions in check, in particular for new diesel engine vehicles. These new add-ons are said to increase the prices of diesel cars even further and increase the gap between a new petrol car and a new diesel car by nearly ₹250,000.

Car sales in India have slumped to a 18-year low even after deep discounts

<ul><li><keyword id="4306161" type="PERSON" weightage="20" keywordseo="Cars24">Cars24</keyword> has announced its first franchisee in Surat. </li><li>The startup plans to breakeven by December 2019. </li><li>It plans to invest ₹1-1.5 million into a franchise depending on the location. </li></ul>Indian used cars startup Cars24 is adopting the franchise model to expand across the country. This will help them set-up 300 outlets in tier 2, 3 and 4 cities over the next two years. The startup plans to breakeven by December 2019, and the franchising model could help ramp up operations. Strengthening its presence in tier 2 cities, it also opened a franchisee branch in Surat – the second largest automobile market in India. It plans to invest ₹1-1.5 million into a franchise, depending on the location. It is shortlisting partners after putting them through a lens, and clearing only one from every 200 applications. “Our key objective is to address the challenges that are faced by sellers and buyers in non-metro cities. We are filling the vast gap of a dependable partner in the used car segment and associating the entrepreneurial spirit and local talent of non-metro cities with our platform for seamless execution,” said Mehul Agarwal, Co-founder and COO, CARS24. Cars24 sells over 13,000 cars every month through its platform. In over four years, it sold 1.6 lakh cars. It is now present in 35 cities with 150 branches, Cars24 plans to be in 70 cities with 230 branches, by 2019. “We only have 2% market share of the $30 billion used car market. In India, 5 million used cars are sold every year. Our objective is to take this 2% to 20% over the next 5 years,” Vikram Chopra, co-founder and CEO of Cars24 had said in an earlier interview with Business Insider. This development from Cars24 comes at a time when the Indian auto industry is witnessing a slowdown in the sales of new cars. The country’s largest car maker <a href="https://www.livemint.com/auto-news/maruti-suzuki-sales-down-14-in-june-at-124-708-units-1561984801149.html">Maruti Suzuki </a>too reported a 14% decline in sales in June. Passenger vehicle sales have been suffering for the last eight months. <a href="https://www.businessinsider.in/june-monthly-car-sales-data-points-to-a-severe-slowdown-in-india/articleshow/69985355.cms">Consumer sentiment has suffered due to</a> cost increases amid strict safety regulations, delay in monsoon, rural stress, slowing economy and liquidity constraints. See Also: <a href="https://www.businessinsider.in/news/auto-sales-continue-to-slip-for-eight-straight-months-making-revival-tough/articleshow/70034595.cms">Auto sales continue to slip for eight straight months, making revival tough</a>

EXCLUSIVE: Cars24, a startup selling used cars, wants outlets in 300 cities and is looking for potential franchisees

Six out of the top ten most selling cars in India in October are from Maruti Suzuki

Tata Motors dominates the EV car market in December with Tiago leading the charge

<ul><li>Shares of some Indian automobile companies have lost over 40% of their value since the start of the year.</li><li>Car makers have been the worst hit by the slump in demand triggered by slump in the Indian economy that has hit consumption.</li><li>The Narendra Modi government's rush to get people to move to electric cars is making business worse for makers of traditional cars that run on fossil fuels like petrol and diesel.</li></ul>Indian car makers are in dire straits. Sales have been falling for eight straight months now with no respite in sight. A weaker economy, rising unemployment and pessimism among consumers have led to a steady fall in demand for discretionary products like cars. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[
<div class="flourish-embed" data-src="visualisation/547518"></div>
]]></cdata></div>





































 The crisis has cost investors too. Share prices of car makers, which include some of the marquee names of corporate India, have lost a lot value-- some of them over 40% -- since the start of 2019. And now, there is more bad news that has taken the wind out of auto stocks like Ashok Leyland, Maruti Suzuki, Tata Motors, and M&amp;M today. <table style="width: 169pt;"> </colgroup></colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:73pt">Stock</td> <td class="xl71" style="border-left-width: initial; border-left-style: none; width: 48pt;">July 29</td> <td class="xl66" style="border-left-width: initial; border-left-style: none; width: 48pt;">Last 1 Year</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Ashok Leyland</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-3.44%</td> <td class="xl72" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-35.95%</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Maruti Suzuki</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-3.75%</td> <td class="xl72" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-40.48%</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Tata Motors</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-5%</td> <td class="xl72" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-45.94%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">M&amp;M </td> <td class="xl73" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-1.60%</td> <td class="xl74" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-39.23%</td> </tr></tbody></table> The government wants more Indians to adopt electric vehicles, and dump their old cars that run on fossil fuels like petrol and diesel. Electric cars may be better for environment but there are many concerns including the feasibility for customers and the availability of infrastructure to name a few. The government has cut the <a href="https://www.businessinsider.in/gst-council-slashes-tax-on-evs-and-ev-chargers/articleshow/70407724.cms" data-type="tilCustomLink" target="_blank">goods and services tax on electric cars</a> to less than half and <a href="https://www.businessinsider.in/union-budget-2019-indian-government-announces-tax-subsidy-for-purchasers-of-electric-vehicles/articleshow/70091003.cms" data-type="tilCustomLink" target="_blank">offered tax rebates</a> on interest paid loans taken to buy electric cars, aside from setting aside <a href="https://www.businessinsider.in/electric-vehicles-policy-under-fame-ii-offers-incentives-for-local-manufacturing-and-subsidies-for-buyers/articleshow/68314114.cms" data-type="tilCustomLink" target="_blank">a ₹100 billion earlier this year</a> to incentivise electric car manufacturing in India. 
 
 
 
 
 
 <div type="ExtQuote" text="While the EV segment is still facing challenges of limited product availability, charging infrastructure constraints and product viability issues, the government is stepping up its efforts to kick-start its adoption, and appears willing to raise the regulatory burden on conventional vehicles to incentivise the former." auname="CLSA (a global broking house)"></div>











 More bad news The Ministry of Road Transport and Highways has come up with a draft policy to promote old car owners to scrap their vehicles in exchange for free registration for a new car. However, for those who can't avail the incentive, the registration fee will rise up to 40 times. <table style="width: 321pt;"> </colgroup></colgroup> <tbody><tr> <td class="xl64" style="height:15.0pt;width:137pt">Proposed Fees</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 86pt;">New Registration</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 26pt;">Hike</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 46pt;">Renewal</td> <td class="xl66" style="border-left-width: initial; border-left-style: none; width: 26pt;">Hike</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Two-wheeler</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹1,000</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">20x</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹2,000</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">40x</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Three-wheeler</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹5,000</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">17x</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹10,000</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">33x</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Private car</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹5,000</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">8x</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹15,000</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">25x</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Taxi</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹10,000</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">10x</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹20,000</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">20x</td> </tr> <tr> <td class="xl69" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Medium and heavy vehicles</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹20,000</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">13x</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">₹40,000</td> <td class="xl71" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">26x</td> </tr></tbody></table>Source: <a href="https://www.rushlane.com/new-car-registration-free-12318654.html" data-type="tilCustomLink" target="_blank">Rush Lane</a> "The government also intends to increase the cost of ownership of old vehicles by raising charges for their registration renewal. We, however, believe the above policy measures will be unable to trigger much replacement demand and hence are unlikely to provide much of a boost to auto demand. First, the number of vehicles that are older than 15 years and still in active use is very limited. The owners of such vehicles will usually have limited financial capability to buy new or other vehicles in the secondary market (even if incentives are transferrable), and hence are less likely to go for this voluntary scrappage scheme," CLSA explained. Car makers have had to offer deep discounts to bring people into showrooms. These discounts are far more than the incentive available on registration renewals and yet, they have failed to revive demand for cars. The policy squeeze will be an added burden on the companies. SEE ALSO: <a href="https://www.businessinsider.in/gst-council-slashes-tax-on-evs-and-ev-chargers/articleshow/70407724.cms" data-type="tilCustomLink" target="_blank">Buy electric vehicles for less now, GST council slashes rate from 12% to 5%</a> <a href="https://www.businessinsider.in/nissan-may-lay-off-over-1700-employees-in-india/articleshow/70389996.cms" data-type="tilCustomLink" target="_blank">Nissan may lay off over 1,700 employees in India as car sales slow down</a> <a href="https://www.businessinsider.in/Top-10-electric-cars-that-people-are-excited-about/Tesla-Model-X-507990-searches/slideshow/70404198.cms" data-type="tilCustomLink" target="_blank">Top 10 electric cars that people are excited about</a>

India's push for electric vehicles is haemorrhaging car makers

<ul><li>Overall passenger vehicle segment crossed the 20 lakh units sales mark for the first time-ever in the first half this year.</li><li>Toyota Kirloskar Motor reported a double-digit growth in dispatches to dealers, while Kia saw a dip in wholesales last month.</li><li>MG Motor India also reported a double-digit increase in retail sales in June 2023 compared to the same month last year.</li></ul>New Delhi, Maruti Suzuki India (MSI) and Hyundai posted single-digit growth in domestic sales in June, even as the overall passenger vehicle segment crossed the 20 lakh units sales mark for the first time-ever in the first half this year. Toyota Kirloskar Motor reported a double-digit growth in dispatches to dealers, while Kia saw a dip in wholesales last month. MG Motor India also reported a double-digit increase in retail sales in June 2023 compared to the same month last year. Maruti Suzuki India, the country's largest carmaker, said its domestic passenger vehicle sales rose 8 per cent to 1,33,027 units in June against 1,22,685 units in the year-ago period. Sales of mini cars, comprising Alto and S-Presso, fell marginally to 14,054 units compared to 14,442 units a year ago. Similarly, sales in the compact segment, models such as Swift, Celerio, Ignis, Baleno and Dzire, slumped 17 per cent to 64,471 units from 77,746 cars in June 2022. Utility vehicle sales, including Brezza, Grand Vitara and Ertiga, however, surged over two-fold to 43,404 units compared to 18,860 vehicles in the year-ago month, MSI said. MSI Senior Executive Officer (Marketing and Sales) Shashank Srivastava said the automaker grew faster than the industry in June, enabling it to scale up its overall market share by 2.4 per cent to 41 per cent. The overall passenger vehicle industry dispatches grew by 1.9 per cent to 3,27,700 lakh units from 3,21,600 lakh units in the year-ago period, he said. MSI, on the other hand, dispatched 1,33,027 lakh passenger vehicles last month, up 8 per cent from 1,22,685 lakh units in June 2022. Srivastava noted that the domestic passenger vehicle segment has crossed 20 lakh sales-mark in the first half of the year, a 10 per cent growth over 18.31 lakh units dispatched in the January-June period of 2022. MSI dispatches to dealers during the period stood at 8,61,000 units over 7,87,000 units in the corresponding period a year ago, he added. He noted that the company's SUV market share rose to 21 per cent in the April-June quarter this fiscal, compared to an 8.5 per cent market share in the same period of the preceding fiscal. Srivastava noted that with the addition of new models like Jimny and Fronx, the company remained hopeful of attaining around 25 per cent market share in the segment to take the top slot in the segment by the end of the current financial year. On supply chain shortages, he said the situation is expected to get better in the current quarter. MSI currently has a pending order backlog of 3.55 lakh units, he stated. When asked about challenges, Srivastava said that high-interest rates and chances of an erratic monsoon were some of the factors, which the company was closely monitoring. Rival Hyundai Motor India reported a 2 per cent rise in its domestic sales at 50,001 units last month from 49,001 units in June 2022. "There is a positive customer traction for all our products and Verna, Creta and Tucson have attained leadership positions in their respective segments in the first half of CY23," HMIL COO Tarun Garg said. Toyota Kirloskar Motor also said its total wholesales increased 19 per cent to 19,608 units in June compared to 16,512 units in the year-ago period. Its domestic dispatches stood at 18,237 units while overseas shipments were at 1,371 units. "Ever since the launch of Urban Cruiser Hyryder and Innova Hycross, we are witnessing continued high acceptance by our customers," TKM Vice President (Sales and Strategic Marketing) Atul Sood said. On the other hand, Kia India said its domestic wholesales declined 19 per cent to 19,391 units in June. The company dispatched 24,024 units to dealers in June 2022. "We have kept our performance steady with healthy growth, despite the realignment of our manufacturing process to accommodate the development of the new Seltos this month," Kia India National Head (Sales &amp; Marketing) Hardeep Singh Brar said. With the launch of new Seltos, the automaker aims to be one of the top mid-SUV segment leaders again and hopes for a strong sales surge, he added. Another automaker, MG Motor India reported a 14 per cent increase in retail sales at 5,125 units in June 2023 against 4,504 units in the same month last year. "Supplies were disrupted in the wake of cyclone Biparjoy though customer demand should now gain momentum following the monsoon as India gears up for a long festive season," the company said.

Maruti, Hyundai post single-digit rise in June PV sales; industry crosses record 20 lakh units in H1 2023

<ul><li>Indian car manufacturer <keyword id="6357096" type="UNKNOWN" weightage="20" keywordseo="Mahindra-Mahindra">Mahindra &amp; Mahindra</keyword> announced that the price of its vehicles would go up by ₹36,000 from July 1. </li><li>The price hike by companies is being attributed to the new safety norms and the BS VI norms followed by the Indian government. </li><li>However, car sales continue to see a decline in India.</li></ul>In India, car sales have been sliding with almost every other automobile giant reporting a decline in sales in the past few months. However, if you thought that would make cars cheaper, well, think again. Car prices are only rising, thanks to the new safety norms which have been made mandatory. Automaker Mahindra &amp; Mahindra announced on Wednesday that it would be raising the prices of its personal vehicles by up to ₹36,000 across models from July 1. But the company is not alone. Maruti Suzuki had already declared a price hike for its new Swift and WagonR. Others like Honda and Tata Motors too have indicated the same. “Mahindra SUVs that will take a substantial price increase are the Scorpio, Bolero, TUV300 and KUV100 NXT, while brands such as the XUV500 and Marazzo will increase prices marginally,” Mahindra said in its filing as reported by IANS. The Indian government had announced the Bharat Stage VI norms for emission regulation. The norms will be adopted by April 2020, however companies had said that the adoption will result in a price-hike. According to <a href="https://www.financialexpress.com/industry/bs-vi-norms-car-prices-to-surge-sharply/1423128/">reports</a>, complying to the norms meant a 10% price hike for cars. Meanwhile, <keyword id="424067" type="PERSON" weightage="20" keywordseo="Car-sales-in-India">car sales in India</keyword> have had a sloppy run in the past few months. In <a href="http://overdrive.in/news-cars-auto/passenger-car-sales-in-india-dip-by-20-5-percent-in-may-2019/">May 2019</a>, passenger car sales declined by 20.5%. One of India’s biggest car manufacturers, Maruti Suzuki had <a href="https://www.financialexpress.com/auto/car-news/may-2019-car-sales-maruti-suzuki-reports-22-decline-in-sales-for-may-2019/1596276/">reported</a> a decline by 21% in its car sales for May. See Also: <a href="https://www.businessinsider.in/budget-2019-proposal-lower-tax-likely-on-cars/articleshow/69723060.cms">With 32 million jobs at stake in India’s auto sector, the Modi government may ease tax burden on cars</a>

Car sales are woefully slow in India but prices are rising due to new green norms

<ul><li>With 246,000 units sold, domestic <keyword id="410427" type="PERSON" weightage="20" keywordseo="passenger-vehicles">passenger vehicles</keyword> sales recorded a 17% drop in April 2019 - the sharpest decline since October 2011, when car sales fell by nearly 20%. </li><li>The latest drop was largely attributable to India’s elections, as uncertainty over the outcome has likely caused consumers to delay purchases, and market volatility. </li><li>India’s auto industry is coming off its slowest annual sales growth in five years. Passenger vehicle sales grew by around 3% to a mere 3.4 million units amid higher insurance costs, a growth in ride-sharing and a financing crunch. </li><li>This, in addition to an adjustment to new safety and manufacturing norms, contributed to a decline in wholesale dispatches heading into the current fiscal year.</li></ul>The sales crunch in the Indian auto industry persists. With 246,000 units sold, domestic passenger vehicles sales recorded <a href="https://economictimes.indiatimes.com/industry/auto/cars-uvs/passenger-vehicle-sales-dip-the-worst-in-nearly-8-years/articleshow/69135886.cms">a 17% drop </a>in April 2019 - the sharpest decline since October 2011, when car sales fell by nearly 20%. Prior to that, the sharpest drop in the preceding eight years occurred in February 2013, when sales fell by 16.7%. The latest drop was largely attributable <a href="https://economictimes.indiatimes.com/industry/auto/cars-uvs/passenger-vehicle-sales-stay-in-slow-lane-ahead-of-elections/articleshow/68680098.cms">to India’s elections,</a> as uncertainty over the outcome has likely caused consumers to delay purchases, and market volatility. Even India’s largest carmaker, <keyword id="44883" type="DOMAIN" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword>, had a tough go of it last month. The company - which accounts for more than half the market - posted a 19.6% decline in sales to <a href="https://auto.economictimes.indiatimes.com/news/passenger-vehicle/cars/maruti-suzuki-domestic-sales-dip-19-at-133704-units/69124746">131,385 units</a> in April. The carmaker was given a hint of respite, however, by the commercial vehicle segment, which grew 50% to 2.319 units. Interestingly, <keyword id="20630" type="CITY" weightage="20" keywordseo="Honda">Honda</keyword> defied industry trends by recording <a href="https://auto.ndtv.com/news/honda-car-indias-sales-grow-by-23-in-april-2019-2031440">a 23%</a> increase in sales to 11,272 units. This was largely due to the launch of the latest version of its Amaze model. India’s auto industry is coming off <a href="https://www.businessinsider.in/carmakers-in-india-are-looking-for-a-new-breed-of-techies-in-a-changing-market/articleshow/68789684.cms">its slowest annual sales growth</a> in five years. Passenger vehicle sales grew by around 3% to a mere 3.4 million units amid higher insurance costs, a growth in ride-sharing and a financing crunch. 
 
 <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[
<div class="flourish-embed" data-src="visualisation/281580"></div>
]]></cdata></div>





 This, in addition to an adjustment to new safety and manufacturing norms, contributed to a decline in wholesale dispatches heading into the current fiscal year. Despite the sluggish sales numbers, carmakers are preparing to increase their hiring this fiscal year. In response to emissions norms, new technologies and the need to boost manufacturing capacity this year, hiring in the auto industry could increase by as much <a href="https://economictimes.indiatimes.com/industry/auto/auto-news/auto-sector-to-see-uptick-in-hiring-this-fiscal/articleshow/68785115.cms?from=mdr">as 15% this year</a>, as per a survey by PeopleStrong, a Gurugram-based HR services firm. Meanwhile, sales could pick up after elections conclude, but a short-term <a href="https://www.businessinsider.in/india-to-face-crude-oil-shock-if-us-cancels-iran-waiver/articleshow/68988296.cms">spike in oil prices</a> - a likely outcome of a halt in India’s oil imports from Iran - could offset this. SEE ALSO: <a href="https://www.businessinsider.in/carmakers-in-india-are-looking-for-a-new-breed-of-techies-in-a-changing-market/articleshow/68789684.cms">Carmakers in India are looking for a new breed of techies in a changing market</a> <a href="https://www.businessinsider.in/car-sales-in-india-start-with-online-reviews-of-top-brands-shows-a-google-kantar-survey/articleshow/67754856.cms">Indians are one step away from buying cars online</a>

Here’s why India’s monthly car sales recorded the highest drop since 2011

<ul><li>With their sales being hit, the Indian business community which has so far been an active supporter of the Indian government, has been raising its voices.</li><li><keyword id="6359432" type="UNKNOWN" weightage="20" keywordseo="britannia">Britannia</keyword>’s MD Varun Berry said there is some serious issue in the economy.</li><li>He’s not alone, leaders from the auto industry have raised their concerns as the segment is witnessing its worst sales slowdown.</li></ul>Questions are being raised by top Indian businessmen about the economic health of the country. The latest one to cry foul is fast moving consumer goods company Britannia. In the <a href="https://www.dnaindia.com/business/report-consumers-thinking-twice-before-buying-a-rs-5-pack-britannia-2781047">latest earnings call</a> of Britannia, the company’s MD Varun Berry raised some serious concerns about the <keyword id="6356076" type="DEFINITION" weightage="20" keywordseo="indian-economy">Indian economy</keyword>. "We've grown only 6% and the market is growing slower than that. And that's a little bit of a worry, because even for a ₹5 product if the consumer is thinking twice before buying it, then there is some serious issue in the economy,” he said. This comes in even though Britannia holds one-third of market share in the Indian biscuit industry. With their sales hit, the Indian business community which has so far been an active supporter of the Indian government, has been raising its voices. India’s GDP has slumped to 6.8% in FY19, whereas <a href="https://www.businesstoday.in/current/economy-politics/india-economy-9-per-cent-gdp-growth-pm-modi-5-trillion-dollar-economy-target-ey/story/370433.html">analysts </a>say that for India to reach its dream of being a $5 trillion economy, the country’s GDP needs to grow steadily at 9%. The industry that has been worst hit has the auto industry which has seen a massive slowdown in sales has seen. Auto industry leaders like Pawan Munjal of HeroCorp, RC Bhargava of Maruti, Anand Mahindra of Mahindra &amp; Mahindra, have all been rallying for reduction of GST to boost growth in sales. Rahul Bajaj, the chairman of Indian conglomerate Bajaj Group. During his company’s Annual General Meeting, he spoke of the government’s role in the weak sales of the auto industry. “There is no demand and no private investment, so where will growth come from? It doesn’t fall from the heavens. The auto industry is going through a very difficult period. Cars, commercial vehicles and two-wheelers are going through a rough patch,” Bajaj added. Earlier, Adi Godrej, chairman of the Godrej group, too <a href="https://www.firstpost.com/business/industry-leaders-reaction-on-budget-2019-adi-godrej-says-budget-is-not-growth-oriented-stock-market-comes-down-considerably-6940161.html">said</a> that the Budget presented by Finance Minister Nirmala Sitharaman is not “growth-oriented”. <a href="https://www.ndtv.com/india-news/adi-godrej-rising-intolerance-hate-crimes-can-seriously-damage-growth-2068996">Godrej also touched upon a sensitive subject </a>saying that rising intolerance in the country is also affecting growth. However, there are also some who believe this is just a phase. HDFC Chairman <a href="https://www.businesstoday.in/current/economy-politics/indias-economic-slowdown-driven-by-lower-consumption-temporary-in-nature-says-hdfcs-deepak-parekh/story/370229.html">Deepak Parekh</a> in the recent annual general meeting of the bank said, “While there has been an across-the-board slowdown in consumption, given the inherent demand and low penetration levels, I believe this is temporary in nature.”

Forget cars, Indian consumers are wary of buying a ₹5 biscuit packet

<ul><li>With car sales being woefully slow, Indian <keyword id="1108326" type="PERSON" weightage="20" keywordseo="auto-manufacturers">auto manufacturers</keyword> are going to see the weakest Q1 results in a decade, say analysts. </li><li>A CLSA report has said that Q1 EBITDA is going to fall by an average of 28% for all auto companies.</li><li><keyword id="44883" type="CITY" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword> cut production for the fifth consecutive month in June due to lack of demand.</li></ul>Indian automakers have been witnessing a massive slowdown in sales and that has resulted in stock analysts calling it the first quarter, their toughest quarter in a decade. CLSA, the capital markets research firm, has said that first quarter results for FY 20 is likely to be the weakest in a decade for the auto sector because of depressed volumes and margin pressure. The report further mentions that for the first quarter, pre-tax profits would fall by 28% year-on-year for the entire industry. While Maruti and Ashok Leyland could see their quarter’s profits decline by 35-43%, Eicher, <keyword id="45224" type="CITY" weightage="20" keywordseo="Mahindra">Mahindra</keyword> and Motherson Sumi could see a 14-21% decline. “We remain cautious on the sector and have sell ratings SELLs on 70% of our stock coverage; on a relative basis, we continue to prefer Maruti , Eicher, and Motherson,” said the report. <keyword id="424067" type="PERSON" weightage="20" keywordseo="Car-sales-in-India">Car sales in India</keyword> have been falling for the last past few months. In May 2019, passenger car sales declined by 20.5%. One of India’s biggest car manufacturers, Maruti Suzuki had reported a decline by 21% in its car sales for May. In June, it fell again by 14%. In fact, the auto manufacturing giant cut production for the fifth consecutive month in June due to lack of demand. Its shares fell too, shedding ₹7,000 crore in market value in early July.

You Searched For "india monthly car sales" and got 10 results

Car sales in India have slumped to a 18-year low even after deep discounts

BI India Bureau

EXCLUSIVE: Cars24, a startup selling used cars, wants outlets in 300 cities and is looking for potential franchisees

Sanchita Dash

Six out of the top ten most selling cars in India in October are from Maruti Suzuki

Sourabh Jain

Tata Motors dominates the EV car market in December with Tiago leading the charge

Sourabh Jain

India's push for electric vehicles is haemorrhaging car makers

Sriram Iyer

Maruti, Hyundai post single-digit rise in June PV sales; industry crosses record 20 lakh units in H1 2023

PTI

Car sales are woefully slow in India but prices are rising due to new green norms

Sanchita Dash

Here’s why India’s monthly car sales recorded the highest drop since 2011

BI India Bureau

Forget cars, Indian consumers are wary of buying a ₹5 biscuit packet

Sanchita Dash

A global investment firm has 'SELL' rating on 70% of Indian car makers because sales may not pick up speed

Sanchita Dash

Popular Keywords

Buying Guides