Indian Autos Market fell 3% in August again as in July. Following the huge +36% reported in June the market outlook unchanged and is on track to hit a new record thanks to robust demand supported by accelerated private consumption. Maruti over 50% of share.
Indian economy performed well recently, after growing at the fastest rate in seven quarters in January–March. In July, business activity in the private sector increased at the fastest pace since October 2016. This was primarily due to strong new orders growth in the services sector. However, in the same month, the merchandise trade deficit hit the highest level since May 2013 due to surging oil imports. Meanwhile, Prime Minister Narendra Modi comfortably fended off a no-confidence vote in parliament on 20 July. The win should provide him with additional breathing room to continue his policy agenda before next year’s general elections. In an early sign of this, in late July the government slashed taxes on over 50 goods, while also hiking import tariffs on hundreds of textile products in August, which should support private consumption and the trade balance, respectively, going forward.
Indian vehicles market is the 5th largest in the World and is very close to outpace Germany for the 4th. In the last fourth years the market has taken a stable growing pathway hitting the all time record any year. In the 2017, on top of new GST effective for all sectors, the automotive industry was effected by the new Automotive policy, effective from July 1st, having the Government changed vehicles duties aiming to sustain vehicles of reduced dimensions (below the 4 meters) and to reduce the emission level. The new law is basically similar to the previous one and should not change the industry basic with the dominion of local-made small vehicles and the growth of SUV segment just in the compact derivatives. However, the law includes a sort of luxury tax for high cylinder engines, penalizing the sales for Premium brands. According to data released by the SIAM, the local association of manufacturers, the 2017 ended with the new record level, at 3.223.429 car passenger’s sales, first time above the 3 million and up 8.7%
A new all time record will be hit by this industry in the 2018. Indeed the market is growing with continuity month after month and after having ended the first quarter with 845.218 sales (+5.5%) and the second with 861.741 (+18.1%). In July sales were 289.002 (-3.0%) and in August 285.135 (-3.1%) with Year to Date figures at 2.290.693 (+7.8%).
|Market||Sales First Half||Sales July 2018||Sales August||Sales YTD 2018||Variation First Half||Variation July||Variation August||Variation YTD 2018|
At brand-wise, so far in the year Maruti improved year to date a robust 12.0% with 1.180.025 sales and 51.5% of market share.
Hyundai was second with 364.418 sales (+6.1%) ahead of Mahindra & Mahindra with 155.795 (+4.8%), Tata – in sharp recovery after a prolongued crisis – with 146.528 (+39.9%), Honda with 119.875 (-1.8%), Toyota with 93.106 (+2.0%) – with July up 17% -, Ford with 68.306 (+10.6%), Renault with 55.471 (-26.8%), down 31% in July, Volkswagen with 25.309 (-22.1%) and in 10th place Datsun with 24.339 (-10.4%).
At model wise, the leader was Maruti Dzire with 188.078 sales (+48.3%) followed by the Maruti Alto with 151.214 (-11.0%) and the Maruti Swift with 150.206 (+26.2%).
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Research, Consulting, Data & Forecast
F2M covers intensively this market with several products developed to help any investigation required. Market Researches in PDF are immediately available for download with study on the market since 2005 and with forecast up to the 2025. AutoData in EXCEL are immediately downloadable with annual sales volume, split by month, for all brands and all models distributed in the market. This year data are released year to date, but you will receive a monthly update until the year-end. See details within India Corner Store
|Rank 2018||Rank 2017||Brand||Sales 2018||Sales August||Variation 2018||Variation August||Share 2018||Share August|
|Rank 2018||Rank 2017||MODEL||Sales 2018||Sales August||Variation 2018||Variation August|
|5||5||Maruti Wagon R||114.262||13.658||0,9%||-1,8%|
|8||6||Hyundai Grand i10||90.503||11.489||-9,5%||-6,6%|