Automobile Dispatches Falter Amid Domestic Demand Slowdown
Major automakers like Maruti Suzuki and Hyundai reported a drop in vehicle dispatches in June due to a domestic market slowdown. While Mahindra & Mahindra showed increased sales, others like Tata Motors saw a decline. Affordability issues in the small car segment and geopolitical situations further impacted demand.
- Country:
- India
In a challenging month for India's automotive sector, major players such as Maruti Suzuki and Hyundai Motor India reported a decline in vehicle dispatches for June, primarily due to a slowdown in domestic market demand.
Maruti Suzuki's dispatches declined by 13%, with sales of smaller cars like the Alto and S-Presso witnessing significant drops. Hyundai also faced a 12% dip in dispatches, affected by ongoing geopolitical uncertainties.
Conversely, Mahindra & Mahindra recorded an 18% rise in utility vehicle sales, while Tata Motors remained optimistic about leveraging its new launches despite a 15% decline in passenger vehicle sales.
(With inputs from agencies.)
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