India’s vehicle sales see a record fall in April
The Society of Indian Automobile Manufacturers’ (SIAM) findings suggest that the sales of passenger vehicles have plummeted in April’19 by 17% YoY to reach 247,541 units, the worst fall in the last 8 years.
This development is attributed to a number of factors, including the impact of last year’s base effect, the delayed purchase as a result of the ongoing general elections and the harsher financing conditions. This slowdown has also been linked to the hike in insurance costs in September’18.
However, the Federation of Automobile Dealers Associations (FADA) opines that this is a temporary phenomenon. FADA also recommends measures like cost regulation & recalibration of production to tackle the situation.