Stalled Engines: Automakers Face Domestic Market Slowdown
In July, major automakers like Maruti Suzuki and Hyundai reported a significant decline in vehicle dispatches due to domestic market demand slowdown, attributed to pricing issues and geopolitical concerns. Meanwhile, Mahindra & Mahindra witnessed growth in sales, and Tata Motors emphasized EV momentum despite a dip in overall sales.

- Country:
- India
In July, leading automakers, including Maruti Suzuki and Hyundai Motor India, encountered double-digit declines in vehicle dispatches. The domestic market has seen a downturn in demand, with Maruti's passenger vehicle dispatches falling 13% and Hyundai experiencing a 12% drop.
Despite the downturn, Mahindra & Mahindra noted an 18% increase in utility vehicle sales, while Tata Motors reported a 15% decrease in passenger vehicle sales, including electric vehicles. The slowdown is attributed to affordability issues within the small car segment and geopolitical factors affecting market sentiment.
Amidst this, Toyota Kirloskar Motor and JSW MG Motor India have reported year-on-year sales growth, while two-wheeler manufacturers like Bajaj Auto and Royal Enfield have shown mixed responses in sales figures. The industry remains cautiously optimistic, looking towards gradual recovery supported by economic measures.
(With inputs from agencies.)