The Indian auto market failed to register growth for the second consecutive month and most car manufacturers of the country are in a state of gloom regarding when the slack sales of their products are going to end.
All the attractive discounts on motor vehicle insurance, huge loyalty rewards, doling out of freebies and goodies proved ineffective as the unified automobile sales dropped in September 2012. The drop is the country's worst ever in the last three years and nine months at more than 9 per cent for the September 2012.
As per the statistics revealed by the apex industry body, Society of Indian Automobile Manufacturers (SIAM) on October 10, 2012, the Indian passenger car market witnessed a drop in sales by 5.36 per cent during the September month of 2012. The Indian two-wheeler segment failed to escape the drop as well, and stumbled by 18.85 per cent.
Reportedly, the unified sales of all vehicles including all segments recorded a plunge of 9.43 per cent at 14,18,134 units in September 2012 as against the sales of 15,65,757 units during the same month of last year. The September vehicle sales figures marked the country's sharpest fall since December 2008, which saw the sales dropping by 18.25 per cent.
Commenting on the shocking drop in total vehicle sales in the country during September 2012, S. Shandilya, President, SIAM said, “The overall economic situation of the country, low sentiments, high petrol prices and interest rates are among the factors which are hurting the overall sales of the auto industry. New model launches at attractive price points in the utility vehicle segments have also been a factor in low car sales.”
However, the Indian car makers will be hoping for a turn around during the upcoming Indian festival season, as many of them have lined up a variety of interesting car launches in October 2012. Maruti Suzuki will roll out its entry-level small car Alto 800 while Tata Motors is all geared up towards the launch of its Safari Storme Sports Utility Vehicle (SUV) and the all new Indigo Manza Club Class sedan in the second half of October, 2012. The alliance of Mahindra and Mahindra (M&M) Limited and SsangYong Motors is also ready for the launch of their maiden product, the Rexton SUV in the Indian market on October 17, 2012. The immediate future looks a little promising and most of the Indian car enthusiasts most definitely will be closely following the proceedings in the Indian market.
