The Passenger Car Industry has seen a significant growth in the month of July 2020, most of the recovery started from the month of May.
Manufacturers like Maruti Suzuki has doubled their wholesale/ off-take for the month of July compared to previous month, signifying good recovery but to get an idea of actual car sales, we can refer to the market wise cars registered.
A total of 1,57,373 cars were registered in the month of July 2020 in comparison to 2,10,377 cars registered in July 2019. A de-growth of -25.19%.
Markets like Kerala, Tamilnadu, Jammu & Kashmir, Gujarat & Maharashtra are still finding its way to recovery with stricter lock-down restrictions likewise markets like Assam & Bihar were greatly impacted by the Floods.
Meanwhile, markets like Uttar Pradesh, Haryana, West Bengal, Jharkhand, Delhi and Karnataka posted a comeback with decent demand for Entry Level Hatchbacks and SUVS.
With a stable and consistent business environment, markets like Himachal Pradesh, Rajasthan and Punjab outperformed their earlier July 19’ records.
Hope the analysis to give an idea of actual passenger car market was helpful, do share your feedback.