For quite a long time now, Indian automobile industry is going through some sort of a downturn and the trend is continuing. In the last month of the last fiscal year, domestic sales of cars in India have fallen by 22.51 percent, according to data from SIAM (Society of Indian Automobile Manufacturers). In terms of number of units, the figure looks even worse. While 2,33,151 units were sold a year back in the same period, this time the it was only 1,80675 units.
Further segmentation of this figure shows that the commercial vehicle segment took the worst hit as its sales came down by 6.04 percent – from 90,416 units in March 2012 to 84,956 units in March this year. Overall, this was the trend across all the categories.
But the funny thing is that one cannot call this as a recession in the Indian auto industry since some of the companies are witnessing increasing sales despite this overall downturn in the market.