All About Auto Sales in India
The Indian Auto Industry has been crawling for three years and now the impact of COVID-19 has also left an impact on the sales in the automobile industry. The developing economy of India might experience an increase in fuel prices owing to the massive lockdown.
The Indian auto sector had a forgettable year – 2019 – as the industry soldiered on despite one of the worst periods. Sales for passenger vehicles including cars, SUVs and even two-wheelers witnessed a major decline last year, dropping at its lowest in two decades. Apart from the economic slump in the Indian corporate sector, financing issues, elections and a negative buying sentiment heavily contributed to the auto industry sales witnessing a nosedive in volumes last year. Almost all established manufacturers were affected by the slowdown; whereas the new players including Kia Motors and MG Motor India managed to secure better sales figures despite the overall slowdown.
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