Indian Automobile Industry Snapshot – FY2020
The overall Automobile Industry in India registered a drop of 18% in FY2019-20 v/s FY2018-19.
The Passenger Vehicle Sales dipped by -17.8% and sold almost 6 lakhs units less in FY2019-20 (Apr’19-Mar’20) v/s FY2018-19 (Apr’18-Mar’19).
Two Wheelers registered similar drop as passenger vehicles and could sell only 1.74 cr units in FY20 vis-á-vis 2.11 cr units in FY19.
Three wheelers registered less than double digit de-growth and sold 6.36 Lakh units in FY19. Quadricycles (Bajaj Qute) registered 50.2% YoY growth; but the volumes were meager.
The state of commercial vehicles were a major concern. Do note that CV’s move the nation – quite literally. Such massive YoY drops signal a huge downturn and recessionary economy.