9 Out Of 17 Mass Market Passenger Vehicle Makers Witness Sales Decline In Apr-Oct
Nine companies posted a decline in the sales in April-October this fiscal.
(Image for representational purpose/Reuters)
More than half of the 17 automobile firms selling passenger vehicles in mass-market segment in India posted decline in sales in the first seven months of the fiscal, reflecting the continued struggles of global brands in trying to make their presence felt in the country.
According to the latest data by the Society of Indian Automobile Manufacturers (SIAM), nine companies posted decline in the sales in April-October this fiscal. Among the major global brands which saw decline in their sales in India during the period were Volkswagen, Renault Nissan and Skoda.
During the period, Volkswagen India saw its domestic sales decline by 24.28 percent at 21,367 units, while Renault India also witnessed a drop of 26.17 percent at 47,064 units. Similarly, Nissan Motors India's April-October sales stood at 22,905 units, down 26.81 percent from the year-ago period.
Skoda Auto India's sales during the fiscal so far stood at 9,919 units, down 1.48 percent. Likewise, Isuzu Motors India also witnessed a decline of 18.32 percent in sales at 1,248 units.
Fiat India Automobiles posted sales of just 481 units, down 69.9 percent from the year-ago period.
Commenting on the trend, SIAM Deputy Director General Sugato Sen said, "This has been structurally there (in the past too). There are companies which are now trying to address this through partnerships while increasing their exports from India."
While Ford has joined hands with Mahindra, Toyota and Suzuki have also announced partnership with an eye on strengthening their presence in the Indian market.
Last year, General Motors had stopped selling its vehicles in India as there was no turnaround in its fortunes here after struggling for over two decades to make a mark.
Among the domestic firms which saw dip in sales this fiscal are Force Motors at 1,246 units, down 16.88 percent and Mahindra Electric Mobility at 333 units, down 32.04 percent, as per SIAM data. Hindustan Motors Finance Corporation that sells SUVs from Mitsubishi clocked 189 units, down 44.57 units.
On the other hand, market leader Maruti Suzuki India posted 9.1 percent increase in its April-October sales at 10,44,749 units. Following it was Hyundai Motor India at 3,26,178 units at a growth of 3.86 percent, while Mahindra & Mahindra registered sales of 1,45,462 units, marginally up by 0.45 percent.
Tata Motors saw its sales jump by 25.65 percent during the period at 1,38,732 units, while Honda Cars India also improved its sales by 2.98 percent to 1,08,652 units.
Toyota Kirloskar Motor clocked 14.69 percent increase in its sales so far this fiscal at 92,169 units.
Similarly, Ford India's sales during the period stood at 58,082 units, a growth of 15.5 percent. FCA India Automobiles also saw its sales rise by 28.99 percent to 9,753 units during the period.
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