The October, 2019 sales of cars have seen a 0.71% increase as compared to the same month previous year. Even though the overall growth is nominal, but still there is a positive movement after months of negative trends.
Among the players, Maruti which has over 48% market share shows a growth of 2.33% as compared to same month last year. There has been a significant growth for Renault. All the other top players have registered a negative growth as compared to last year. Kia and MG, the new entrants, also feature in top 10.
Decline in Auto sales has been a major worry and it caused huge job losses over months. IPD sincerely hopes that this positive growth sustains and intensifies in the future months.
There has been a significant loss in demand over months and Car sales is just an indicator of it. It will be worthwhile to see how the other sectors which saw a drop in sales, namely textile sector, FMCG sector, has fared in this festive season.