Retail finance availability weighs on sentiments, dents January auto sales

Tata Motors which saw a 11% decline in its passenger vehicles sales was one of the worst performers

The first month of the new calendar year failed to cheer auto firms as sales remained in low gear owing to subdued sentiment caused by poor availability of retail finance, shows monthly sales data released by auto companies on Friday. Seven out of every ten passenger vehicles bought in India are purchased on credit. 

Clocking a total of 256,000 units over 255,000 units in 2018, cumulative sales of top six-passenger vehicle makers including Maruti Suzuki India, Hyundai Motor India, Mahindra and Mahindra, Tata Motors, Honda Cars and Toyota Kirloskar remained almost unchanged. Indian automobile companies count despatches to dealers as