The auto sector continues its negative trajectory for the ninth month now and automakers have shown no signs of growth as volumes have nosed...
The auto sector continues its negative trajectory for the ninth month now and automakers have shown no signs of growth as volumes have nosedive across different segments. India's largest automaker Maruti Suzuki continues to be one of the worst affected by the slowdown as sales for the month of August 2019 continued to show a decline in volumes. The company registered 34.4 per cent decline in domestic sales in August this year with 97,061 units sold as opposed to 147,700 units sold in August 2018. The automaker has registered the massive drop in volumes for the third consecutive month with its bread and butter segment - hatchbacks - taking the biggest hit.
Maruti Suzuki sold 10,123 units in August 2019, in the A-Mini segment that comprises the Alto and the older generation Wagon R, witnessing a decline of 71 per cent over 35,895 units sold during the same period last year. In the A-Compact segment that comprises models like the new Wagon R, Ignis, Swift, Celerio, Dzire, Baleno and the likes, the manufacturer registered a sale of 54,274 units, dropping by 23.9 per cent over 71,364 units sold in August 2018.
The B-utility vehicles segment including the Vitara Brezza, S-Cross, Ertiga and the new XL6, did bring some respite for Maruti Suzuki with 18,522 units sold in August this year, a growth of 3.1 per cent over 17,971 units sold in August 2018. The vans segment comrpising the Omni and the Eeco saw sales drop by 36.6 per cent with 8658 units sold, as opposed to 13,663 units sold during the same month last year.
Maruti Suzuki's exports during the previous month saw a 10.8 per cent decline in volumes with 9352 units shipped, as against 10,489 units in August last year. Meanwhile, 2,333 units of the Baleno were shipped to Toyota that are rebadged as the Glanza.
With the advent of the festive season and the government's assurance to OEMs for continued growth of ICE vehicles, the auto sector is expected to witness a rejuvenation after continues slump in volumes.
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