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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.

Balaji’s crazed wisdom on Howard Lindzon podcast: “There will be both deflation in wants and inflation in needs”
Tuesday November 03, 2020

Balaji appeared on Howard Lindzon’s Panic With Friends recently and I took a bunch of notes and wanted to share them here. As usual Balaji is going 150mph and some of his insights are pretty out there, but clearly the product of deep thought and research. So I need to review what he says multiple […]

5 Tips to Avoid Trucking Accidents
Tuesday December 15, 2020

As a driver, you must have experienced that nerve-wracking moment where you had to pass an 18-wheeler truck on the freeway. Commercial trucks can be frightening, not only due to their sheer size and weight, but also because of their susceptibility to fatal accidents. For this reason, motorists have the responsibility of driving carefully around […]

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The post Balaji’s crazed wisdom on Howard Lindzon podcast: “There will be both deflation in wants and inflation in needs” appeared first on Celadon Saigon.