The biggest decline in car sales in 2019 is the last two decades

New delhi date. January 2, 2020, Thursday

The year of 2019 has been challenging for the Indian auto industry. In 2019, car sales have also witnessed a significant decline. In the last 20 years, 2019 saw the biggest decline in car sales. While auto companies are offering huge discounts, consumers are avoiding buying cars due to rising uncertainty, difficult financing and a financial slowdown.

Despite the entry of new companies like Kia Motors and MG Motors, car sales have been declining. However, both these companies have made good entries even in difficult times.

According to sources in the auto industry, passenger vehicle sales have dropped to less than 3 million in 2019. Sales of Maruti Suzuki, Hyundai, Mahindra and Mahindra, Tata Motors, Honda and Toyota also declined.

In mid-2018, vehicle sales began to decline. Vehicle sales continued to decline due to declining economic growth in 2019, political uncertainty and the Lok Sabha elections.

Shashank Srivastava, Marketing and Sales Director at Maruti Suzuki, said that the year of 2019 was a really challenging year for Indian auto companies. He, however, hoped that the auto sector's recession in the new year would go away. It is worth mentioning that Maruti Suzuki holds 50% market share in Indian car market. The decline in interest rates and the boom in rural areas will lead to an increase in car sales.