Thread by @finshots

Many people have ascribed many reasons for the Auto Slowdown. But we wanted to see what the industry body was saying before all the publicity. So we compiled a thread on how the narrative around the slowdown has shifted since July 2018. From optimism to panic. Read on...

11 July 2018

After posting strong sales number for June, the Society of Indian Automobile Manufacturers (SIAM) had this to say

"The growth momentum is likely to stay robust...especially due to the surging demand for new models...and bountiful rains that improve farmers income"

11 Aug 2018 

Car sales dip in July

"Last year in July, PV (Passenger Vehicles) sales had shot up due to GST rollout. So, despite this drop in sales last month we are satisfied with the situation as we believe that the industry segments are on a growth path"- SIAM

11 Sep 2018

Passenger vehicle sales decline in August

"With a pickup in festive sales beginning with Ganesh Chaturthi in September and extending to Diwali in November, the industry is confident of recovering the August sales loss"-SIAM

13 Oct 2018

Passenger vehicle sales slides in September

"Last year Navratri festival fell in September which increased the base for the corresponding period. We expect the sales to grow in the second half of the fiscal on the back of a good festive season"- SIAM

Despite the continuing slowdown, the industry remains largely optimistic

09 Nov 2018

Car sales flat in October

"Overall, the data shows pretty healthy growth. There is a positive movement in the automobile industry"- SIAM

03 Dec 2018

Car sales remain flat in Nov as weak festive season ends

We have witnessed flat growth in sales for last 2 months due to high-interest rates & rising fuel prices. However, fuel prices have started to come down & we expect to see its positive impact going ahead-SIAM

04 Jan 2019

Automobile industry sees 3% decline in December

"With fuel prices coming down, buyer sentiments have now started to turn positive and we expect the fourth quarter to be better in terms of sales"- SIAM

Feb 08, 2019

Domestic car sales drop 2.65% in January

"Stock correction by manufacturers continued in January [and they] cut inventory that were piled up during the festive period... Expect demand to grow in the remaining two months of the fiscal"-SIAM

Optimism turns to caution

Mar 08, 2019

Auto sales continue negative trail in February

" What we are seeing is that the market sentiment is subdued. Interest rates are still high and we have not been able to recover from the impact we have had earlier on the year"-SIAM

April 9, 2019

Domestic PV sales fall nearly three per cent in March

"A likely rise in vehicle prices from FY21 onwards due to BS-VI implementation will prepone buying, thus boosting demand in second half of FY20"- SIAM

A turning point for the industry and the narrative shifts

May 13, 2019

Auto sales decline 15.93% in April

"Low market sentiment worked by the uncertainty in the run-up to the general election is a major reason for the industry's lean phase"-SIAM

PANIC

11 Jun 2019

Auto sales go from bad to worse, fall 21% in May

"This downturn is now moving beyond the regular reasons such as negative consumer sentiments, fuel price volatility, increased insurance costs and others. It is time when government intervention is required"-

11 Jul 2019

June quarter auto sales the worst in almost two decades

"The automakers are in a situation where their cost is more than the revenue. This is really worrying. In the short term, the de-growth may intensify further"-SIAM

13th Aug 2019

Passenger vehicle sales plunge to a 19-year low in July

"The situation in the automotive industry seems to have become much more complex to what we have already seen. There's an urgent need for some kind of a revival package from the government"-SIAM

11th Sept 2019 - Nirmala Sitharaman blames 'millennial mindset' for the auto sector slowdown