The passenger vehicles have a relevant market in India. In India, there is a vast variety of companies in passenger vehicles, Like Maruti Suzuki, Hyundai, Toyota, Fiat, Tata, Ford, and other companies. Some of them doubt what is mean by a passenger car, Passenger car is used as a road motor vehicle rather than the motorcycle and the passenger cars are designed to seat not more than the nine passengers. Some of them doubt what is mean by a passenger car. The global market has huge investments in passenger cars.
The passenger car sales in the wholesale market in July 2020 it goes down almost 4%. This leads the biggest companies a bad effect on the market. During the period the passenger cars declined 1,02,773 units and the utility vehicles are increased by 13.88%. The society of Indian Automobile Manufacturers claimed that the sale drop in passenger cars compared to the last year. The release of new motorcycles and entry-level cars demand more in the rural and semi-urban areas are the main reason for this drop
The sales of the automobiles in India is counted by the dispatches from the factory, not from the retail sales. Maruti Suzuki reports that 1.8% growth in the domestic sale and the factory dispatches also increased in the respective month of June and May. The second-largest passenger vehicle manufactures Hyundai says that their sales declined 2 percent. The COVID-19 virus and economy is another problem for declining the sales of the passenger car. The pandemic has worsened the challenges of India’s automotive industry, which has already faced a liquidity crisis and lowered demand in the last year and a half. The small decrease in revenue comes from a weak base in the same era when manufacturers experienced a downturn in market demand as a result of the economic recession and higher car costs as a result of improvements in emission and safety requirements.
The SIAM believes that the crisis of the sector will be sorted out soon and the demand will rise as the earlier times. The month of July the sale was better than the other months and it gives them the confidence to the sector