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India. Anti-Covid19 measures knocked auto sales down 83.6% in May

Indian Autos Market free-fell in May, dragged down by national lockdown measures held through the entire month to reduce a still high number of Covid19 daily infections. Indeed, 39.185 units were sold in May, leading Year to Date sales to 716.653 (-36.5%).Market Trend in MayAfter a complete halt in April, the new Indian vehicle market restarted with an 83.6% implosion in May with 39.185 units sold, leading Year to Date figures to 716.653 (-36.5%). This was primarily due to the acceleration in Covid-19 infections throughout the country, which forced the Government to hold lockdown measures through May.Factories and car dealerships were barely able to restart activities, allowing a small sales volume. However, on May 30, the Government announced that the ongoing lockdown was further extended until June 30.In May, Maruti held just 36.6% of year-on-year market share, registering one of the largest market drops. Hyundai reached 18.4% thanks to the Creta, which was the best selling car of the month.Post Covid19 Market TrendAs a response to the arrival of the Coronavirus in the Country, on March 23 the Indian Prime Minister imposed the national lockdown. However, the effects of the Covid-19 were not limited to the last week of March, as business closures were already starting in Delhi as early as March 8, followed by partial lockdown in other cities throughout the country.As a result, the Q1 ended at 677.468, down 19.5%.In April, new vehicle sales were zero, as automotive factories suspended production through the entire month. However, the spread of the Coronavirus started accelerating in the country, leading to a further lockdown extension.Indeed, Year to Date figures April stayed at 677.468, down 37.8% from last year.Medium Terms Market TrendIndian vehicles market is currently the 5th largest in the World but it is very close to outpacing Japan to gain the fourth position.Following five years of continuous vigorous growth, in 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, blocked the growth. In 2019 the market pushed the brakes, falling down 7.4% and registering 3.11 million units.In the first two months of 2020, the registrations followed the previous year’s weak trend. Indeed, as the car industry was preparing for the transition towards stricter anti-pollution norms, the coronavirus outbreak hampered production for local manufacturers, leading year-to-date figures in February have been 517.576, down 6.1%.Tables with sales figuresIn the tables below we report sales for Top 15 Brands, top 10 Manufacturers Group and top 10 ModelsThis content is for members only. Visit the site and log in/register to read.

Why People Are Turning to Car Title Loans
Wednesday May 06, 2020

Raising finance when you are in need of cash can be a real headache. While there are various forms of borrowing available, you may find that you are only eligible to apply for a limited range. This could be due to damaged credit, your income and outgoings, and your personal and financial situations.The post Why […]

Finland. In May the market worsened (-53.8%) pulled down by low demand
Thursday June 11, 2020

Finnish cars market fall accelerated in May, despite the car dealerships activities continued during the Covid-19 crisis. Indeed, 4.871 vehicles were sold in May, reporting a 53.8%, leading Yead to Date sales to 38.302 (-11.4%). Kia, Mercedes and BMW outpaced the market.Finnish Cars Market in MaySimilar to other European countries we have covered so far, the Finnish market has worsened […]

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