The slowdown in the Indian car market is finally over, the sales grew by 13.8% in September 2019 on MoM basis
In turn of events, the market slowdown is nowhere to be seen in the car sales report of September 2019. The market grew by almost 14%, 13.80% to be precise. The most interesting fact is that nearly all the car manufacturer posted positive sales figures in the month that ended on 30th September 2019. Only two manufacturers, Toyota and Jeep, did not post positive sales numbers.
Maruti Suzuki, India’s largest car manufacturer recorded a healthy 18.55% increase in sales when compared to August 2019. This factor shows that slowdown in the car market is wearing off. However, the year-on-year sales numbers are just as bad as they were in the last few months. Maruti recorded a -27% fall in sales when compared to September 2018.
Car Sales in September 2019
Jeep India lost out due to the introduction of two capable SUVs in the Indian market at an affordable price point, the Kia Seltos, and MG Hector. Jeep registered 603 units down from 605 units in August 2019, down just two units.
Kia Seltos registered massive 7754 units in September 2019 compared to 6236 units which were a record in itself. The company also received more than 40,000 bookings of the Seltos owing to its impressive pricing and features offered.
MG India, on the other hand, reopened the bookings of the Hector SUV. The price of the SUV has been increased by up to Rs 40,000 which is still not a hell of a hike. The company managed to sell 2608 units of Hector in September up from 2018 units in August this year. MG will increase the production of Hector from November to more than 3000 units per month to decrease the waiting period on the vehicle.
Hyundai, Mahindra, Honda, and Tata, all mainstream manufacturers have shown positive sales books. In the festive season, the sales of cars are expected to rise further and we can see numbers near to what it was last year. All the manufacturers are giving huge discounts and benefits with their entire line up to push sales as much as possible. If you are looking for a 4-wheeler, it is the best time to buy one.