The Indian auto sector had a forgettable year - 2019 - as the industry soldiered on despite one of the worst periods. Sales for passenger ve...
The Indian auto sector had a forgettable year - 2019 - as the industry soldiered on despite one of the worst periods. Sales for passenger vehicles including cars, SUVs and even two-wheelers witnessed a major decline last year, dropping at its lowest in two decades. Apart from the economic slump in the Indian corporate sector, financing issues, elections and a negative buying sentiment heavily contributed to the auto industry sales witnessing a nosedive in volumes last year. Almost all established manufacturers were affected by the slowdown; whereas the new players including Kia Motors and MG Motor India managed to secure better sales figures despite the overall slowdown.
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