The Indian auto industry have seen a great loss over the years due to very low sales numbers and demand of any kind of vehicle. Now in this year after the budget released for the year, COVID-19 pandemic broke out and more losses to bear by the Indian auto market.
After the relaxation over the lockdown period car manufacturers are again seeing good sales numbers every month as it progresses, and last month record a 20% growth in overall sales numbers of passenger’s vehicle in august compared to July. August marked the first time after COVID-19 pandemic having sales increased compared to the previous year.
Mass-market automaker posted total sales of 2,34,376 units last month, a substantial 20 percent increase over 1,95,800 units sold in the same period last year, though year on year growth are 31.97 percent decline that passenger’s vehicle sale experienced in 2019 due to various economic factors. Still last months numbers indicate that people are now less influenced by the pandemic on local car markets.
Other than this less numbers of car makers have year on year growth, but many car makers have month on month growth in their sales units. Total sales were 18.5 percent higher than the July 2020 numbers 1,97,733 units.
Chart of y-o-y and m-o-m growth of car makers
Passengers vehicle in India
|Company||August 2020||Change (YOY)||July 2020||Change (MOM)|