- 30 min ago Kawasaki Ninja 300 Recalled To Replace Faulty Brake Component — Is Your Motorcycle Involved?
- 31 min ago New (2019) Hyundai Grand i10 India-Launch On 20th August — Even Ahead Of Its Global Public Debut
- 48 min ago Napino Signs MOU With Farasis Energy Inc. — Will Manufacture Battery Packs For EVs In India
- 2 hrs ago DSK Owned Benelli & Hyosung Motorcycles Up For Grabs – Will Be Available Through Online Auction Only
- Movies Bigg Boss Tamil 3 Contestants Salary: Who Takes Home The Maximum Pay?
- Sports Wriddhiman 3.0 ready to 'shoulder' responsibility as India A take on West Indies A
- News "Ready to quit happily": Kumaraswamy in an emotional speech in assembly
- Lifestyle L-carnitine: Its Benefits, Sources And Side Effects
- Education Chandrayaan 2: Free Online Courses In Aerospace Engineering Offered By HRD Ministry's Swayam Portal
- Technology Asus ROG Phone II Launched – Other Gaming Smartphones That Might Face The Heat
- Finance 4 Best Small Cap Mutual Funds To Buy
- Travel National Parks to Visit During Monsoon in India
The car sales report for the month of June 2019 has been released by various manufacturers in the country. The sales report showcase a decline in the overall sales of cars from most brands in the Indian market. This has been a trend for the past couple of months now, which is said to continue into the future months as well.
Here are some of the top brands in the Indian market and their sales performance during the month of June 2019.
Maruti Suzuki is the largest car manufacturer in the country, accounting for the most market share. However, the brand has been on the back foot for quite a while now, with June 2019 being no different.
The company has recorded yet another decline in sales in the Indian market. June 2019 saw Maruti Suzuki record 1,11,014 units of sales; a 17.2 percent decline from 1,34,036 units in June 2018.
In terms of the export market, Maruti Suzuki faired better with a 5.7 percent growth from 9,319 units in June 2018 to 9,847 units last month.
Mahindra is one of the very few brands in the Indian market which has managed to record a growth in the country during the month of June 2019. The brand recorded a 4 percent growth last month with 18,826 units of passenger vehicles; compared to 18,137 units during the same month last year. The growth in sales is mainly due to their three new product launches in the market: XUV300, Marazzo and the Alturas G4.
Commenting on the market performance in June 2019, Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, M&M Ltd. stated:
"The market sentiment continued to remain subdued, especially in the Passenger Vehicles segment. At Mahindra, we are happy to register a growth of 4% in the Passenger Vehicles segment and 8% in the Utility Vehicles segment, on the back of our three recent product launches."
Hyundai Motors also recorded a decline in sales in the month of June 2019; despite the launch of their much-awaited Venue SUV in the Indian market. The Korean brand recorded a 7.3 percent decline in domestic market, with sales of 42,007 units in the previous month.
The company did however manage to improve in export sales from 15,408 units in June 2018 to 16,800 units last month. This is an increase of 9 percent growth from their exports. In terms of cumulative sales (domestic + export), Hyundai has recorded a decline of 3 percent, selling 58,807 units overall in June 2019.
Toyota is another major brand in the Indian market, affected by the Industry slowdown. The Japanese company has recorded a major slump in domestic sales by 19 percent during the month of June 2019. The company recorded sales of 10,603 units last month compared to 13,088 units during the same month last year.
Toyota exports the Etios product, which recorded a sales of 762 units in June 2019. This is also a decline from 1,014 units in June 2018.
Commenting on the sales performance, N. Raja, Deputy Managing Director, Toyota Kirloskar Motor stated:
"The Industry has been witnessing a continuous decline in domestic sales owing to several factors that have contributed to the weak consumer sentiment. The prevailing economic uncertainty, uncertainty on monsoons, high interest costs, tight liquidity and also the underlying apprehensions surrounding BS VI introduction in few months have steered the slowdown.
We look forward to the upcoming budget to address the need for positive growth in the economy which would result in better sentiment in the Auto Industry."
Honda Cars India is no different from other brands in terms of sales performance in India during the month of June 2019. The brand has also recorded a sales decline in the previous month. The company sold 10,314 units in June 2019; a 41 percent decrease from 17,602 units of sales in June 2018.
Rajesh Goel, Senior Vice President and Director, Sales and Marketing, Honda Cars India Ltd stated:
"The auto industry is going through its worst slowdown with continuous decline for many months. Going forward, any initiative which can jumpstart the demand will definitely be a positive for the industry."
Thoughts On The Car Sales Report For June 2019
The entire automotive industry is witnessing a major slowdown in terms of sales over the past few months. The upcoming rules and regulation changes, along with the looming stringent emission norms have dampened the sales of most manufacturers in the Indian market. Many companies are hoping this trend to stop in the coming months, however this is likely to continue at least for the next couple of months until the festive season.