Hyundai sales decreased by 10.28%.
Volkswagen was the only car giant to post marginal growth of 1.38%.
The automotive sector continues to feel the heat with most of the car makers witnessing a sharp decline in sales in the month of July. Major names in the industry, including nine of top ten car manufacturers, have posted negative sales. India’s leading car giant, Maruti Suzuki India has had the most impact with 36.71 % drop in sales, witnessing 4.60% slump in growth.
While Hyundai has improved by 4.44 % in terms of market share in July, the company also registered a 10.28 % drop in July sales. Similarly, Mahindra also witnessed a 1.56% increase in market share, the Mumbai-based auto giant posted a 14.91 % decline in sales last month.
The slowdown in the auto industry has plagued almost all car giants in the country with major car giants such as Jeep, Honda, Ford, Renault, Skoda, Tata Motors and Nissan-Datsun witnessing sharp drop in July sales. That said, Jeep saw its sales go down by 58.46%, followed by Nissan-Datsun at 53.46%, Honda by 48.67%, Renault at 41.13% and home-grown Tata Motors posting 38.61% drop in sales.
Aside from the above-mentioned car makers, Toyota (23.79%), Ford (19.60) and Skoda (14.60) also saw sales going down south, hence contributing to the slowdown. There are several reasons causing slowdown such as the launch of new products in the market that eats into the sales of other product. Case in point here is Hyundai Venue which gathered over 50,000 bookings within 60 days of launch, impacting sales of segment-leader Maruti Suzuki Vitara Brezza majorly. Also, the newly launched Hector is in high demand, so much that bookings for the compact model have been suspended temporarily. This had a negative impact on the sales of models such as Tata Harrier and Jeep Compass.
Graph Source - Gaadiwaadi