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INDIA
India’s tiger starts to limp
Underlying depth of India’s downturn has surprised most market watchers
Published: Thu, 04 July 2013 17:45:33 GMT
 

India traffic moped scene

May sees 12% drop in car sales, no recovery sign sighted after 7 successive months of tumbling sales

Since the middle of last year, sales of passenger cars in India have been on a downward trajectory, keeping this year’s market on track for the lowest annual car sales since 2009, a far cry from the 2.2 million plus sales still pencilled in for this year by some double-digit dreamers less than a year ago.

The seventh successive fall, with figures showing a 12 per cent drop in May, is testament to the now widely shared view that India’s passenger car market has gone stone cold, dragged down chiefly by the slowest economic growth for almost a decade. 

Almost halfway through the current year, following seven successive months of tumbling new car sales, this year’s sales are already running well below some earlier optimistic projections
...more
 

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India’s tiger no longer roars  30 Apr 2013



DATA AVAILABLE TO SUBSCRIBERS WITH THIS ARTICLE:

INDIA new CAR sales:
INDIA new car sales by manufacturer and marque MAY 2013 v MAY 2012
INDIA new car sales by manufacturer and marque 5-MTHS 2013 v 5-MTHS 2012

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