Despite relaxations of lockdown restrictions on manufacturing during the month, the main Indian automobile manufacturers continued to suffer a drastic fall in sales in May this year, SteelOrbis has learned from various companies.
Even though official industry sales figures are yet to be announced, most major passenger car producers in India registered a decline in sales above 80 percent in May, indicating that the relaxation of lockdown restrictions and enabling resumption of production, distribution and sales did not have any positive impact on manufacturers in terms of sales.
Sources said that Maruti Suzuki Limited, the country’s largest passenger carmaker in terms of market share, dispatched (Indian companies treat dispatches from plants as sales) 13,865 units in May, down 88 percent year on year.
“So far improvement in demand, production, and sales look quite reasonable, but it will be a gradual increase. It will not jump to old levels any time soon,” R C Bhargava, chairman of Maruti, said.
The country’s second largest passenger carmaker, Hyundai India Limited, sold 6,883 units, down 84 percent year on year.
Toyota Kirloskar India Limited sold 1,639 units, down 86 percent year on year.
Manhindra sold 3,867 units, recording a decline of 81 percent from the corresponding month of the previous year.