India Auto Inc's downhill drive continues in May, PVs register weakest sales in 18 years

The monthly pattern of the Indian automobile industry reporting falling sales and poor numbers would seem a trend in the recent past, but the situation is rather grim where there has been an unprecedented slowdown in the automotive sector which resembles to what it faced last in September 2001 and subsequently during the 2008-09 global economic fallout.

Overall sales in the auto industry in May 2019 fell 8.62 percent with cumulative wholesale numbers of 2,086,358 units (May 2018: 2,283,262). Production numbers too were in conjunction with a 7.97 percent drop to 2,515,999 units (May 2018: 2,733,762), with reports of ...