June Car Sales Fell 18% in India
Demand in India for passenger cars, SUV/crossovers and light vans dropped 18% to 225,700 units in June, according to the Society of Indian Automobile Manufacturers.
It was the eighth consecutive month of declining wholesale volume. Year-on-year factory shipments have now shrunk by at least 20% in the past three months.
“We cannot survive for long,” warns SIAM chief Rajan Wadhera, who also heads the automotive business unit of Mahindra & Mahindra Ltd.
SIAM is calling for government relief as carmakers continue to cut production. Maruti Suzuki India Ltd., with a 51% market share, has lowered its output with short factory shutdowns in each of the last five months.
Analysts attribute the slump to higher vehicle prices, a cooling India economy and a tight borrowing market brought on by last year’s default of Infrastructure Leasing & Financial Services, a large non-bank lender in India.
For conducting business in the U.S. market, Toyota has historically had several separate business entities: a sales and distribution company headquartered in California (Toyota Motor Sales, USA); manufacturing operations (Toyota Motor Manufacturing North America); a racing subsidiary (Toyota Racing Development, USA); the Toyota Technical Center for R&D in Ann Arbor; and a design facility in California (Calty Design Research, Inc.). On April 1, 2006, Toyota merged its R&D operations and its manufacturing operations into a single company.
To know that 3,000 cars have been delivered since October 2015 would undoubtedly result in a shrug: in 2017 Toyota delivered 387,081 Camrys, so that 3,000 is less than one percent, and this is in one year, not just over two.
The way people are going to get transportation is changing the world over. Get ready for it.