The Indian automotive industry that has been facing a prolonged slump since the past 13 months showed a menial revival in light of the festive season in October as Maruti Suzuki, Renault and Volkswagen emerged to be the only three companies that reported positive sales.
However, in November, the slump seems to be back in place after Maruti Suzuki along with a majority of other manufacturers witnessed a year-on-year decline of 3.3 per cent. In the month of November, the company sold 1,39,133 units of its car as against the 1,43,890 units it sold in the same month last year.
However, among the top 10 manufacturers in the country, Renault and Hyundai were the only manufacturers who registered positive growth last month. French automaker Renault, which sold 6,134 vehicles in November last year, managed to sell 10,800 units this year, reflecting a growth of 43.2 per cent in November. Hyundai trailed on the second position by a significant margin and managed to report positive sales after selling 44,600 units in November as against the 43,709 vehicles it sold in the same month last year.
The major turndown in the company sales has been pointed at the global recession and negative sentiments among buyers in the domestic markets. In addition to this, with the upcoming BS-VI norms in April 2020, buyers are sceptical to fixate on the current BS-IV models. Among new entrants in the market, South-Korean manufacturer Kia climbed up to be among the top 5 manufacturers after selling 14,005 units of the Seltos in November.