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Car Sales Report August 2019: The sales report for the month of August has been released by various car brands in the Indian market. The car sales report showcases the continuous decline in sales, affected by the auto industry slowdown in the country.
Among the top brands in the Indian market, Maruti Suzuki, Honda and Tata Motors have been affected the worst by the slowdown. This is the ninth consecutive month sales have been down in India. The Indian government is taking multiple measures to bring the auto industry back to normalcy, with an expected improvement during the festive season.
Here are the five major car brands in India and their sales performance for the month of August.
Maruti Suzuki is the largest car brand in the Indian market. However, over the past nine months, the company has been witnessing a steady decline in sales. August was no exception, the car brand recorded its worst decline with a drop in 35.9 per cent sales. The company registered sales of just 94,728 units in August 2109, compared to 147,700 units in the same month last year.
Export sales also recorded a drop in sales by up to 10.2 per cent over last year. The company recorded 9,352 units in export sales last month, compared to 10,489 units in August 2018.
The country's second-largest car brand, Hyundai also recorded a decline in sales in the month of August. The Korean carmaker registered a de-growth of 16.58 per cent with 38,205 units of sales last month compared to 45,801 units in August last year.
The 16.58 per cent drop in sales comes after a relatively good month of July 2019, when the company survived a major sales drop by launching the Venue SUV. With the launch of the new compact-SUV, Hyundai registered just a 3.8 per cent drop in July 2019. However, the Korean carmaker has had to cut down on production owing to the drop in sales in August.
Hyundai also launched its latest hatchback offering in the Indian market, with the Grand i10 NIOS. The company hopes to improve their sales in the upcoming festive season, with their four strong offerings in the market: Grand i10 NIOS, Creta, Venue and Elite i20.
Honda Cars India has registered the highest decline in sales in the month of August 2019. The Japanese company has registered a fall of 51.3 per cent in sales in the Indian market. The company which registered over 17,000 units of sales in August last year managed to register just 8,291 units in the last month.
Rajesh Goel, Senior VP & Director-Sales and Marketing, Honda Cars India Ltd said, "The auto sector continues to witness high de-growth due to poor consumer sentiment. This is despite the high discounts prevailing in the market which makes it the best time to buy cars. We hope the recent measures taken by the government will help in improving consumer sentiment and demand creation as we move forward. With the impending festive season, the sales are likely to pick-up in coming months."
Tata Motors also continued their downward trend in the market, registering a loss of 49 per cent overall sales in the country. Among this, the passenger vehicle segment recorded a bigger decline of 58 per cent with just 7,319 units of sales last month; compared to 17,351 units of sales in August 2018.
Mayank Pareek, President, Passenger Vehicles Business Unit, Tata Motors Ltd., stated:
"Marking the onset of the festive season, we will drive positive sentiments with special offers and several special editions. We have kick-started this by further increasing the style quotient of the Harrier with the Harrier Dark Edition. We are hopeful that the recently announced financial package by finance minister will help in improving the liquidity of the market and to reduce the ownership cost. This will certainly help the industry to revive and drive growth."
Toyota Kirloskar India is yet another brand in India which has recorded a decline in sales in the country. The Japanese company, recorded a de-growth of 24 per cent in the month of August 2019, by recording sales of 10,701 units. During the same period last year, Toyota fared slightly better with 14,100 units.
N. Raja, Deputy Managing Director, Toyota Kirloskar Motor said, "The consumer sentiment continues to be muted in the month of August, with customers deferring their purchase of vehicles. Severe floods across states has also hurt the demand in the industry. Unfavorable exchange rate is not helping our cost."
He further added, "The Union Finance Minister announcing measures recently to boost the auto sector with cheaper car loans, improving liquidity through credit expansion to public sector banks, deferring of one-time registration fees, higher depreciation for all vehicles and lifting ban on purchase of new vehicles in government departments is likely to spur some demand which is a much needed relief. The latest FDI reforms which will boost local manufacturing, also comes as a positive move to propel growth in the industry in the long run."
"We hope that the festive cheer ushers in positive sentiments with better retail sales in the upcoming months."
Mahindra is yet another manufacturer affected by the sales decline in the Indian market. The Indian carmaker registered a sales decline of 32 per cent in the Indian market, with 13,507 units of sales in August 2019, compared to 19.758 units in the same month last year.
Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, M&M Ltd. said, "The auto industry continues to be subdued in the month of August due to several external factors. We are optimistic and hopeful of a good festive season going ahead"
Thoughts On The Car Sales Report For August 2019 In India
The Indian auto industry is at its all time low. All major car brands have been facing declining sales month-on-month. However, most manufacturers are hoping that the onset of the festive season will help them improve sales in India.