When will the fall? Until 2011, the automotive sector in India had a record production with a growth of 20% to 30% per year. Today, it is in recession. The turnaround began in the third quarter of 2018, and it continues to grow. In July, the production of new cars has slumped to a level unseen for the past twenty years: the top five manufacturers, which hold 85 % of the market, have seen their deliveries to dealers ebb of 30 %. Shy last year, the plunge has accelerated from April, from 7 % to 18% in June, according to figures compiled by the bank Nomura.
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first spared by the downturn, sales of two-wheelers and three-wheelers, as well as those of tractors have followed the trend in January, falling first from 4% to 9 % before collapsing further. In June, subsidence peaked at 11 % and 14 %, respectively. The ...Updated Date: 11 August 2019, 00:00