First time ever: Car sales in India decline consecutively for six months
April 2013 marked the sixth consecutive month of declining auto sales in India. This is the longest stretch of decline in the history of Indian auto industry, whose sales records are maintained by SIAM- Society of Indian Automobile Manufacturers, since 1997/98.
During the month of April 2013, auto sales declined to the tune of 10.43% with 150,789 vehicles sold.¬†Estimates reveal that the months ahead will not bring any better sales results either, with the economy continuing its sluggish streak, interest rates remaining high and monsoon approaching, reports ET.
Indian car industry has been seeing a steady dip in sales ever since the Diwali festive season in Nov 2012.¬†Auto companies are trying all they can. They are offering major discounts, schemes and exchange offers all of which are not able to bring the customers back to showrooms.
During the month of April 2013, a total of 9 auto companies registered negative sales with only 6 auto manufacturers recording an increase in domestic markets. Automakers such as Maruti Suzuki, Renault India and M&M¬†all recorded reasonable sales while sales of Ford Motor, Hyundai, Tata Motor and Toyota Kirloskar Motor took a beating.
Auto makers are hoping that the recent reduction in petrol prices will ensure better results. Marginal improvements are already being witnessed specially where smaller models such as Eon, Alto and WagonR are concerned. Sales of these cars rose to 47,800 during the month of April 2013 as against 44,380 units in the same month in the previous year.