Festive season cheer remains short lived: Car sales again sees a decline

After a marginal positive growth in the month of October, 2019, car sales numbers again saw a negative growth same as the months prior to October. The car sales growth in the month of November, 2019 was at -6.13% as against the same month previous year. Maruti, Hyundai and Mahindra are the top three players in terms of market share.

Source : https://www.rushlane.com/car-sales-nov-2019-12344558.html

As against October, 2019, there was a – 7.41 percent decline in the car sales. This prolonged slump in the auto sector has a huge repercussion in the job market. In the auto parts industry itself more than 1 lakh casual workers lost their job between October, 2018 to June, 2019. Maruti had cut production constantly for 9 months till November. Finally they have announced an increase in production.

Source: https://www.rushlane.com/car-sales-nov-2019-12344558.html

There has been also an interesting pattern that has emerged in the auto industry in the recent months. The established players like Honda, Mahindra, Tata has witnessed a continuous drop in sales and has lost their market position ( mainly for Honda). In the same time the new players like Renault, Kia and MG has seen a very high growth during the same time.

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