Oxford, UK — Light vehicle production in India was 309,000 units in May 2019. This is a 19.0% fall compared with May 2018, according to consultants LMC Automotive.
LMC estimates that, in 2019, total passenger vehicle production will be down by about 3%. They suggest production could fall to 3.87 m units, representing the first decline in the Indian market since 2014.
India’s Federation of Automotive Dealers Associations (FADA) said: ‘The current situation continues to be worrisome, and consumer sentiment continues to be negative.’
LMC Automotive said that sales are expected to pick up in Q4. This is because automakers are likely to try and sell inventory before a new emissions standard becomes law in April 2020.
The consultants added: ‘Nevertheless, we decided to cut India’s projections further. We lowered our PV outlook by 1-3% through to 2026.’