Since November 2018, sales of the two major vehicle producers in India – Maruti Suzuki forpassenger vehicles and Tata motors for commercial vehicles – have been on a decline. Aftera 9.5% y/y sales growth in September 2018, sales slowed to 4.7% y/y in October 2018. Thensales started decelerating from November 2018 and have been on the negative growth ratesince then. In-fact, for the month of April 2019, passenger vehicle sales of Maruti Suzukidecreased by 17%. There are three major reasons for this.
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