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INDIA
India’s car sales just keep tumbling
January car sales fell 7.6 per cent marking the 14th fall in the past 15 months
Published: Wed, 12 February 2014 16:11:00 GMT
 

Maruti Suziki Swift India Tuck Tuck

The piercing screeching noise coming late last year from Asia was the sound of India’s previously speeding a car sales bandwagon going into reverse. The story, an all too sobering tale of our times, could hardly be worse

2014 began as last year ended. 

January car sales fell 7.6 per cent to 160,289 units, which marks the 14th fall in the past 15 months. 

A trend which, AID compiled figures show, augured poorly for Tata’s automotive arm in particular, whose passenger car sales at home have more than halved in the past year. 

-7.6%
January new car sales in India compared to same month last year


After displaying virtually limitless potential to rise, a near decade of meteoric car sales expansion ground to a sudden halt last year, marking the first dip in annual sales since 2004. 

After climaxing at a new historic high of 2.01 million in 2012, last year’s car sales in India took a near 10 per cent tumble to 1.82 million passenger cars.

Alarmingly for the autoindustry, and western carmakers like Volkswagen in particular, which invested heavily in India, of late new car demand clearly failed to take off on the scale many in the industry predicted. 

One autoindustry insider who spoke anonymously, told AID, “with hindsight, it now seems clear that most western carmakers were far too optimistic about India’s short to medium car sales potential, thus leaving many carmakers with the cash-draining burden of vast surplus capacity”
...more 


MORE LIKE THIS:


Troubled Tata falls back to earth  18 Feb 2014


Russia’s previously speeding car sales locomotive stopped in its tracks  06 Feb 2014


First wobble in BRIC pillars of strength  03 Sep 2013


DATA AVAILABLE TO SUBSCRIBERS WITH THIS ARTICLE:

INDIA new CAR sales:

by manufacturer and marque 
DECEMBER 2013 v DECEMBER 2012
FULL YEAR 2013 v FULL YEAR 2012

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