Car sales growth may slip to a four-year low in FY19 on slow demand

Based on the data compiled by SIAM, the domestic passenger vehicle market has expanded by 6.1 per cent during the April-October period of FY19

The pace of car sales growth in the world’s fifth biggest market, India, is set to hit a four-year low of below six per cent in financial year 2018-19 as multiple factors continue to slow down demand. Leading industry researchers including IHS and JATO have revised sales forecast for the Indian market after a lacklustre festive season. The industry had grown by 7.9 per cent in FY18 and 9.2 per cent in FY17. A total of 3.28 million passenger vehicles were sold in domestic market last year. 

Based on the data compiled by the industry’s apex body Society of Indian