Its been long since the downfall of India’s automobile industry and the disastrous results speak for themselves.
Tata Motors has revealed that there has been a 48% decline in the total sales, and Maruti Suzuki’s sales have dropped by 26.7%
Other car manufacturers such as Hyundai, Mahindra & Mahindra, Toyota and Honda have also reported major decline in their sales.
Even the festive season hasn’t been able to get the industry up and going at the rate with which it was running once upon a time.
Find out the more details about the decline of the automobile industry right here!
Tata Motors Report Huge Declines In Domestic and Commercial Vehicle Sales
The automobile sector is experiencing its worst time ever, and has impacted heavily with people losing their jobs, dealerships closing and sales falling drastically.
Well, the numbers are in, and Tata Motors has reported a decline of 48 per cent, with 36,376 units sold in September. Also, the total domestic sales have gone down by 50%, with 32376 units sold, which was 64,598 units sold in last year’s September.
Moreover, the export of commercial vehicles went down by 27.6%, with the sale being 3800 units in September this year, and 5250 in September last year.
Tata Motors President, Passenger Vehicles Business Unit Mayank Pareek said, “We are monitoring the impact of the relief package announced by the government, and look forward to improved demand from revival in consumption and spend in infrastructure projects.”
Festive Season Hasnt Affected Automobile Sales
Other than Tata Motors, Maruti Suzuki, Hyundai, Mahindra & Mahindra, Toyota, and Honda too have reported serious decline in their sales, and the festive season has failed to boost the sales at all.
Maruti Suzuki, which is the largest car manufacturers of India has reported that the domestic sales have declined by 26.7 per cent. The company sold 1,12,500 units in September whereas the number was 1,53,550 last year’s September.
Mahindra and Mahindra has revealed that there has been a decline of 33 per cent in passenger vehicle sales, whereas Hyundai reported that its domestic PV sales went down by 14.8 per cent.
The company expected a rise in sales due to the monsoon and upcoming festive season, but unfortunately been no considerable change in the scenario.
We’ll keep you informed as we get more updates.
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