While car companies rejoiced in the months of March and April when car sales were high, the succeeding month of May left them in tears. After April, car sales started dipping. While the car industry posted a growth of 22 percent in the month of April, the record for May was a mere 13-15 percent.
Maruti continues to lead as always followed immediately by enthusiastic Hyundai. But General Motors which has being doing well over the last couple of years has witnessed a sudden slowdown.
With input costs for car manufacturers being ever on the rise and as the world crude oil will continue to price $120 plus per barrel, the Indian car industry needs to come up with a new strategy to arrest falling car sales.
Labels: Car-Sales, General Motors, Hyundai, Maruti
5 Comments:
All the months cannot bring good luck to car makers.There will be ups and downs. And the car sales will go further down with the increase in car prices as well as fuel prices.
The rejoicing is over. Input costs are going to remain high and petrol prices are unlikely to come down. So all those who think that car prices are going to come down will have to wait forever. General Motors is just the first one to witness it.
Indian car industry needs a lot push from international brands. But the month of May has not been a good one for car manufacturers even in other countries.
India is no exception to it. The country is merely reflecting the global variations.
Hope May Woes ends with May. Though Maruthi leads the way in the sales follwed by Hyundai, still the industry saw a major dip in the sales. The hike in crudeoil prices has been a major factor. Hope the manufacturers will come up with a new stratagemto cope up with the "plummet"...
The reason for the car sales to go down is the increase in car prices.And now with the increase in fuel prices too, people think twice before owning a car.
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