Maruti Suzuki India, Hyundai, M&M, Tata Motors and Honda reported high double-digit decline
Major automobile manufacturers including Maruti Suzuki india, hyundai, Mahindra & Mahindra, Tata Motors and honda reported a high double digit decline in their sales in August as the Indian auto sector continued to reel under one of the worst slowdowns in its history.
While maruti reported a 33 per cent drop in August sales at 1,06,413 units, sale of passenger vehicles by Tata Motors fell 58 per cent during the month under review. Similarly, honda Cars india and toyota Kirloskar Motor (TKM) sales dropped 51 per cent and 21 per cent, respectively.
Commenting on the sales performance, Tata Motors President Passenger Vehicles business Unit Mayank Pareek said the market continued to be challenging, but the company has focused on improving its retail sales, which saw an uptick of 42 per cent. The country's largest carmaker maruti Suzuki Ind