Indian Autos Market in the 2019 is falling down losing 12.4% and projecting the full year again below the 3 million units, hit by deceleration of domestic economy, increased fuel price, higher interest rate. While Maruti control almost 50% of the market, the new player, Kia, already gained a place among the Top 10.
Indian economic growth likely accelerated in Q2 FY 2019, which ran from July to September, after slowing in Q1, as indicated by a faster increase in private sector activity in Q2 than in Q1. However, the acceleration was probably modest, given consumer confidence dropped to a multi-year low in September. Moreover, although the Reserve Bank of India has slashed interest rates in recent months, bank lending growth slowed in September to the weakest pace since October 2017, which, coupled with the ongoing credit crunch among non-bank financial lenders, suggests consumers are not fully benefiting from lower interest rates.
The economy should slow in FY 2019, in part due to frugal lending to consumers and businesses, despite lower interest rates set by the Reserve Bank of India. Tense relations with Pakistan and a limp global economy are downside risks. More positively, however, expansionary fiscal policy should support growth.
Indian vehicles market is the 5th largest in the World and is very close to outpace Germany to gain the fourth.
Following five years of continuous vigorous growth, in the 2018 the Indian car passenger market hit the last all time record with 3.38 million sales, despite the introduction of the new National Automotive Plan, in mid year, had blocked the growth.
The industry was also impacted by the fall Rupee value in the international market, by the interest rates increase in interest and by fuel price increase. Consequently, since the last months of the 2018 a new trend – negative this time – is in place and the market is declining month after month.
In the 2019 market is projected back below the 3 million units.
Indeed Year to Date November figures were 2.73 million, down 12.4%.
The local manufacturer Maruti, holds over 50% of market just having progressively increased the quota during the last decade with a record of 51% hit in the 2018. In the 2019 the year to date share is just below 50% well ahead of the followers, three manufacturers producing locally, the Korean Hyundai, second, and the Indian Mahindra and Tata.
However, the key fact of the 2019 is the immediate success of the last brand arrived in the market, Kia, already ranking within the Top 10.
Since 2010, focus2move.com is a specialist in the automotive industry tracking monthly sales for all brands and models in the widest in the World range of countries, actually over 150. From this huge database we can extract data sorted under your own conditions and deliver historical data in excel.
If you like to receive historical data or to subscribe at monthly update, contact us at firstname.lastname@example.org and we will arrange a short video call. By showing you our database and segmentation, we can find together the best solutions for your team.
|Rank 2019||Rank 2018||Brand||Sales YTD 2019||Sales November||'+/- YTD 2019||Share YTD 2019||Share November|
|Rank 2019||Rank 2018||Sales YTD 2019||Sales November||'+/- YTD 2019||Share YTD 2019||Share November|
|7||7||Renault Nissan Alliance||96.946||12.337||-15,2%||3,6%||4,6%|
|Rank 2019||Rank 2018||Model||Sales YTD 2019||Sales November||'+/- YTD 2019||'+/- November|
|5||5||Maruti Wagon R||145.186||14.650||-2,9%||29,5%|
|9||8||Hyundai Grand i10||95.095||10.186||-22,6%||10,1%|