Auto Sector in Slow Lane: Data Shows Sales Drop Yet Again
Latest data from companies show that automobile sales are down year-on-year this September for most major auto manufacturers. Auto manufacturers have revealed data that shows that except Tata, all the major players saw a decline in sales.
Maruti Suzuki has seen the greatest fall in sales of 46.16%, selling 86,380 units in September 2021 as against 160,442 in 2020. This is followed by Honda Cars with a drop of 33.67% (6,765 units sold against 10,199 last year), and Hyundai with 23.57%. Only Tata Motors sold more than last year, posting a 26.07% increase of 55,988 units sold this year against 44,410 in September 2020.
The auto sector has been facing a major crunch ever since the first dip in sales was noticed in September 2018. The slowdown in this sector has led to inventory accumulation, slowed or stalled production, adverse effects on dealerships, and loss of employment.