1/7
Car sales crashed to a negative in 2012-13, the fall coming after a decade. Passenger car sales for March fell over 20% led by an across-the board sharp decline posted by leading carmakers. Slowing economy and continuance of high interest rates kept buyer sentiment at its lowest.
In This Pic : Car sales crash
Pic Courtesy : BCCL - Non Copyright
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2/7
Frequent production cuts, halt in investments are raising doubts over the earlier perception of India being one of the biggest-potential car markets in the world. The prevalent glum macroeconomic environment, uncertain fuel prices and rising interest rates have taken a toll, constraining customers to defer car purchases.
In This Pic : Car sales crash
Pic Courtesy : BCCL - Non Copyright
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3/7
Demand for new cars has remained weak for most parts of the fiscal, and March did not prove to be any different. The fall in March will be the fifth straight month of decline for the car industry. Despite historic high discounts of over 10% to 15%
In This Pic : Car sales crash
Pic Courtesy : BCCL - Non Copyright
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4/7
The industry is pinning hopes on new launches like Honda Amaze sedan and Ford Eco Sport SUV for incremental numbers.
In This Pic : Car sales crash
Pic Courtesy : BCCL - Non Copyright
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5/7
The last time the Indian car market was in the red was in 2002-03 when it fell by 2.1%. The fall in 2012-13 will be even sharper as the contraction has been much more now, sources said.
In This Pic : Car sales crash
Pic Courtesy : BCCL - Non Copyright
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