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Indian Auto industry felt 'eclipse'!

Tuesday - May 14, 2019 3:47 pm , Category : WTN SPECIAL
'The dispirited' situation in the Indian Auto sector
'The dispirited' situation in the Indian Auto sector

Unassertive effect on Indian Auto industry; historic decline recorded in selling

MAY 14 (WTN) – Amid the promises of the Modi Government's development, the country's auto industry is going through in a dispirited phase these days. For your information, let you know that due to the decline in the sales of cars and passenger vehicles, the auto industry has suffered a hindrance The condition is that the sales of passenger vehicles in the country have gone down by 17% in April. This is the biggest fall since October 2011. For information, let you know that in October 2011, sales of passenger vehicles were down by 19.87 per cent.

The decline in the sales in the auto sector in the country is at the condition that the country's largest auto company Maruti Suzuki has reduced its production by about 39 per cent in the past three months. According to data released by the Society of Indian Automobile Manufacturers (SIAM), the sales of passenger vehicles in the domestic market were only 2,47,541 units in April 2019. In the month of April, the sales of passenger vehicles decreased by 17.07 per cent.

Let's tell you in detail about the figures for the last three months. In the month of April, the domestic passenger vehicle sales were down by 17 per cent, and there was bewilderment in the auto industry due to a decline of nearly 20 per cent in the sales of cars. In March 2019, the sales of passenger vehicles were down by 3 per cent, and car sales were down by 6.87 per cent. In the month of February, the decline was 1 per cent, and 4.33 per cent, respectively.

Fall in the sales is not limited to passenger vehicles and cars only. For your information, let you know that the sales of the commercial vehicles, along with two-wheeler vehicles, have also declined in the month of April. In April 2019; the sales of the vehicles in the different categories declined by 15.93 per cent. Here, experts of the auto industry say that for the first time in the last ten years, the decline in the sales of all categories of the vehicles seen.

Let’s talk about the Maruti Suzuki India, India's largest auto company, Maruti sold only 1,31,385 vehicles in April, and in this way, the passenger vehicle sales declined by 19.61 per cent. Whereas the Hyundai Motor India's sales declined by 10.12 per cent, and in this month only 42,005 Hyundai vehicles sold. Talk to Mahindra & Mahindra, so its passenger vehicle sales went down by 8.52 per cent in April.

Talk to the two-wheelers, so the selling of Hero Moto Corp recorded 12.10 per cent down, and only 5 lakh 34 thousand vehicles were sold. At the same time, motorcycle sales of Honda Motorcycle and Scooter India declined by 25.77 per cent, and only 1,57,569 vehicles sold.

Now let’s tell you why the decline in the sales of vehicles has been recorded? Indeed, selling of auto sector has been affected due to pessimistic reasons such as increasing cash crisis and increasing the cost of insurance. According to the experts, due to the Lok Sabha Elections, consumer is in a mood to have an interval.

It is being said that one of the reasons for the reduction in the production is that the stock prepared in the festival season is still unsold, due to which the companies have restricted production. For your information, let you know that this is the time for inventory correction of auto companies, that is, the companies are removing outdated stocks at this time. At the same time, another reason for the reduction in the production is the new safety rule and BS 6 norms, because of this, companies can shut down some models.

However, it is expected that the auto sector will bounce after the Lok Sabha Election ends. According to the experts, this time is the time of the exam for the Auto Sector. Some more time the auto industry may have to face the problem, but after that, the auto industry is once again expected to bounce. This is of because the old stock will also be cleared, and due to the new safety features and the BS 6 norms related rules, new vehicles will also come in the market, after which the auto industry can see a boom once again in the sales of vehicles.