India Auto Inc sales tumble 3 quarters in a row
Indian automobile industry sees sales decline for the ninth straight month and in the absence of a growth catalyst from the government, growth seems far away.
10 Jul 2019
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What started with a dip in passenger vehicle (PV) sales in June 2018 now threatens to hit the overall industry. The unprecedented sales slowdown has engulfed all vehicle segments in the Indian automobile industry, leading to a pandemic which is impacting survival of businesses at the ground level.
Announcing another round of performance results on July 10, SIAM communicated the industry’s distressed situation and also released the wholesales numbers for June 2019 which paint a continuous red streak across all segments.
Overall sales in the month stood at 1,997,952 units (June 2018: 2,279,186 / -12.34%) with PVs declining ...
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