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India's slowing economy led to record drop in car sales in 2019

Sales plummet 20% as economy slows

Car sales in India fell by a record 19% last year as a slowing economy made consumers reluctant to spend on big-ticket items and demand is likely to be flat this year, the Society of Indian Automobile Manufacturers (SIAM) said on Friday. Passenger car sales fell to 1.81 million in 2019 from 2.24 million in 2018. Sales of sport-utility vehicles (SUVs), however, rose 5% helped by the launch of new models, data released by SIAM showed.

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