This is the first decline since June this year when car sales declined by 11%.
Industry representatives have said from the second half of the year, they hope to see revival because the rural economy is looking up and the projects the government has announced.
lobal output returning to its medium-term growth rate of 4 per cent
Maruti's Alto retained the top position in June with 14,856 units, as against 15,750 units in June last year.
Weak consumer sentiment, triggered by high interest rates and fuel prices, to blame.
A global slowdown, which is forcing companies to curtail production, cut salaries and jobs, is helping retailers who have launched private labels.
The domestic passenger car sales fell by 6.59 per cent in October to 98,900 units from 1,05,877 units in the same month last year.
The slowdown in growth is an industry-wide trend and companies are adjusting production to bring down the inventory levels at plants as well as dealerships.
Maruti and Hyundai see marginal rise in demand for entry-level hatchbacks.
Total sales of commercial vehicles were down by 5.59 per cent to 48,473 units from 51,344 units in the year-ago period, SIAM said.
Total sales of vehicles across categories registered a fall of 7.76 per cent to 14,86,522 units in March 2013 against 16,11,525 units in the same month of 2012, it added.
Total sales of vehicles across categories registered 10.52 per cent growth to 15,13,032 units in May 2012 from 13,69,070 units in the same month last year, it added.
Domestic passenger-car sales rose by 7.81 per cent to 107,531 units in June 2009 from 99,741 units in the same month last year.
According to the Society of Indian Automobile Industry, domestic car sales last year fell to 18,07,011 units from 19,98,703 units in the previous year.
Passenger vehicle wholesales in India slipped to a 10-year low in the April-December this fiscal, and the industry will have to work hard to regain better volumes and business health, industry body SIAM said on Thursday.
Despite multiple headwinds at the start of 2023, the Indian markets delivered a strong performance, posting 19-20 per cent growth for the year. Even as new records were set, investor sentiment remains strong going into 2024, given the lower inflation, expectations of steady to lower interest rates, higher economic growth, and strong inflows. However, the overriding concern for most brokerages is valuations.
Let's take a look at 10 car models that saw the biggest jump in sales and 10 models that posted biggest drop.
Companies sold 173,420 units in Jan compared to 198,079 units in the same month a year back.
Domestic passenger-car sales fell 19.38 per cent in November to 83,059 units, from 1,03,031 units in the same month last year.
The growth rate could continue for another seven years.
The first half of 2019-20 will be under pressure, since prices are expected to go up by Rs 7,000-8,000 at a time when sentiment is poor.
The traffic tells a story. During the lockdown, it took 45 minutes to zip through the deserted 35-km stretch from Chennai to reach the automobile heart of Sriperumbudur-Oragadam, where the big names of the car industry - Hyundai Motor India, Renault-Nissan India, Daimler India Commercial Vehicles, Apollo Tyres, and Royal Enfield - are based.
Already reeling under a demand slump, automobile manufacturers have expressed disappointment over the RBI's decision to hike short term lending rate saying it is likely to impact the interest rates on car and automobile loans further.
The company had sold 85,669 units during the same month last year, Maruti Suzuki India said.
Domestic passenger vehicle dispatches witnessed a 13 per cent year-on-year rise in April as demand remained robust across segments, industry body Siam said on Friday. The total passenger vehicle dispatches from companies to dealers rose to 331,278 units last month compared to 293,303 units in April 2022. Market leader Maruti Suzuki India dispatched 137,320 units to dealers last month against 121,995 units in April last year.
Domestic passenger car sales grew by 15.37 per cent to 1,33,486 units in August this year compared to 1,15,705 units in the same month of 2012.
Thanks to the late surge in sales towards the second half of the year, total domestic automobile sales in year 2009 grew by 16.93 per cent to 1,13,20,918 units compared to 96,82,113 units in 2008.
The total vehicle sales in the domestic market stood at 5,97,622 units in December last year as against 7,30,603 units in the same month in 2007, according to the Society of Indian Automobile Manufacturers.
Domestic passenger car sales grew 2.64 per cent to 1,76,011 units in March.
Bouyed by higher sales in the festive season, domestic passenger car and motorcycle sales witnessed a healthy growth in November, going up by 21.16% and 27.08%
Passenger car sales during May 2005 jumped 13.02 per cent to 68,516 units compared to 60,618 units during the same month last fiscal.
Sales of commercial vehicles jumped by 8.22 per cent to 53,202 units from 49,162 units in the year-ago period, SIAM said.
Ahead of the international auto show that begins next Wednesday, the Indian auto industry continues to be buffeted with bad news. According to data released by leading automobile companies on Saturday, the industry's sales volumes in January fell about five per cent from those in the same month last year.
Sales of vehicles across categories registered a growth of 3.75 per cent to 16,19,689 units in January against 15,61,130 units in the same month of 2013
The new tax regime has also been fuelling sale of SUVs, particularly the compact SUVs
Car sales stood at 1,33,747 units in July, 2011, as against 1,58,767 units in the same month last year.
'From data on enquiries, we can build what we call a data lake or a data warehouse where data is classified into various cohorts and then we use AI and ML tools to predict demand down the line.'
Market leader Maruti Suzuki sold 51,274 units, down 49.61 per cent from the same month last year. Hyundai Motor sold 21,320 units, a decline of 49.25 per cent and Mahindra & Mahindra sold 8,075 units, down 54.54 per cent.
