India car sales continues downward trend
As per a report by Crisil research, the July car sales in India have tumbled down by 15%, which is a bad sign against the growth of around 38% in July 2010. The major reason of this down fall in July sales includes in sky rocketing fuel prices accompanied with higher interest rates.
There has been 7% rise in the diesel prices so far in this fiscal, which in turn affected the car sales in a bad way. The car sales of Maruti India accounts 49% of the Indian Auto Market, Maruti saw a massive down fall as Maruti India terminated the production of Maruti Swift current model. Apart from that the volumes of Maruti Swift Dzire also fell because of the shift of the production from Manesar plant to Gurgaon plant.
The old Maruti Swift and Maruti Swift Dzire on the whole have 25% of the share in the accrued car sales of Maruti India. The new Maruti Swift will hit the Indian roads on August 17th. Another thing taken into consideration is that the top 3 car makers of the country saw a 29% of down fall in the sales accompanied with mounting dealer inventories, whereas the other car manufacturers reportedly saw a growth of 45% in their volumes all thanks to the launch of more than 5 new car models.
The launch of new car models including the ones which will be launched this festive season are expected to rejuvenate the car sales in the second half of the year. The upcoming car models expected to be launched in the second half of this year include, Maruti Swift Diesel, Honda Brio, Nissan Sunny, all new Tata Safari, Chevrolet sail and many others too.
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