Photo of Mumbai Sklyine courtesy of Deepak Gupta/Wikimedia Commons.
Commercial vehicle sales in India were down 15% in November when compared to the same time last year, continuing a trend of monthly declines since April resulting from a broader slowdown in Asia’s third-largest economy.
However, the decline in sales has improved over that last few months, hitting a peak drop of 39% in September, according to data compiled by Marklines. This is a contrast compared to 2018 versus 2017, which saw consecutive months of growth for the entirety of last year.
Earlier in July 2019, overall car sales saw the biggest drop since December 2000, according to a report by Bloomberg.
The slowdown resulted in the weak sales forcing manufacturers to cut production or shut factories temporarily.
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