After a small spike in the festival season, domestic car sales have returned to the downward spiral, with most major car manufacturers reporting a decline in November.
Market leader Maruti Suzuki and number 2 Hyundai showed 6% and 4% drop in domestic sales in November, of the previous year. For Mahindra & Mahindra and Tata Motors, the dip was as much as 33% and 42% respectively.
General Motors dipped by 14%. Only Ford saw substantial gains in November, thanks to its compact sports utility vehicle EcoSport, and reported a 33% rise in sales.
Most manufacturers do not see a revival soon. “Unless some concrete measures are provided for revival, we do not foresee any immediate turnaround,” said Pravin Shah, chief executive, Mahindra & Mahindra.
Among two-wheelers, Hero MotoCorp, Honda and Yamaha saw growth while TVS sales dipped.