2019: Year of double digit degrowth for the auto industry

Thanks to BHPian SpideyBoy for sharing this with other enthusiasts.

The Indian auto industry registered a degrowth of 12.3% in 2019. It was the first double digit degrowth in the last 20 years.

Except for Renault and the new players like MG and Kia, all other carmakers were in the red. Maruti Suzuki led this downfall with a -14.2% YoY degrowth. Hyundai numbers were down 7%, but in terms of market share, the company gained 0.9% overall due to the Venue. Thanks to the Triber, Renault's numbers were 8% better than last year.

The sales figures also show that Indian consumers are willing to pay if the perceive the product as value for money. The MG Hector, Hyundai Venue and Kia Seltos, all had good sales numbers. The auto industry has been going through tough times. There is also a transition to BS6 emission norms happening, which has seen some manufacturers drop diesel cars from their model line-ups.

Mahindra, Tata, Honda, Toyota, Ford, Volkswagen, Nissan, Skoda and FCA had degrowths of 5%, 28%, 23%, 16%, 25%, 13% 43.4% 8% and 40.9% respectively.

Source: AutoPunditz & Jato