In the wake of car sales in India declined for the second straight year, with March deals additionally finishing in the negative zone. This is in spite of the cut in extract obligation and different freebies, with the sputtering car industry now sticking its trusts on the upcoming general races to escape this groove.
Most carmakers had a troubling run in the financial with Hyundai Motor India, Mahindra & Mahindra (M&M), Tata Motors Toyota and Volkswagen India posting quieted sales.
The outstanding special cases were Honda Car India, Nissan Motor and Ford Motors, which posted higher development on the again of their new propels — the Amaze vehicle, Go hatchback and Ecosport SUV, separately.
Analysts following the business said that extract cuts have not brought about any surge popular,"Customer sentiment is so negative that even price cuts following the cut in excise duty did not persuade them to buy new cars," said Abdul Majeed, partner with PWC India. "In the given scenario, only some fresh economic reforms initiated by a new stable government can bring about the desired changes, and the industry will take another 6-9 months to get back on track."
In any case, Honda Cars with a 83% development in the last financial, reflecting a comparable ascent in its month to month deals, brought some cheer to the troubling business sect. "Our performance was largely helped by the success of Amaze and City sedans and our foray into the diesel market with i-DTEC diesel technology that received an overwhelming response. We plan to keep the momentum going with our two new products, Mobilio MPV and the Jazz hatchback, due for launch during this new financial year," said Jnaneswar Sen, Honda’s senior VP for marketing & sales.
"We have started limited operations from March 18 onwards, with the help of our nonunionized team members, majority of whom are supervisors," said N Raja, senior VP for sales and marketing operations at TKM.