Demand for new cars declined sharply in 2019, forcing automakers to cut production across the year. Sales were expected to revive during the annual festive season from October 2019 but failed to do so. In fact, there was an encouraging spike in sales in coque iphone se walking dead Q3 stimulated by promotional offers, aggressive discounts, new coque huawei fourur model launches, and the increasing availability of models offering Bharat Stage coque iphone 5 pinguin VI () emission standard. iphone case However, volumes dipped soon after the season was over. Counterpoint Research expects the negative month on month sales trend will continue in Q1 2020. Despite continued difficulties, we expect the overall YoY decline to moderate over the rest of the year, with anticipation of economic interventions and industry stability. Exhibit coque huawei y625 1: Vehicle Sales in India (‘000 Units), H2 2018 vs H2 201 Political, economic and consumer led factors will carryover from 2019 to impact sales in 2020. These include stringent environmental and safety regulations, a moderating economy, the increasing popularity of , political uncertainty, increasing insurance coque iphone 6 silicone surf norms and cautious lending. Stringent Environmental and Safety Regulations: Over 2019, automotive OEMs scrambled coque iphone 5s xd to comply with additional mandated safety equipment requirements including anti lock/combined braking systems, driver side airbag, speed warning alarm, rear parking sensors, front seatbelt reminders, and crash test standards. All adding to investment costs and increased pricing to customers across all models. coque iphone 8 super resistant five year third party insurance premium for two wheelers to be collected in advance, had its full year effect in 2019 on overall vehicle sales, and on two wheeler sales in particular. These continue to bite. coque iphone By April coque iphone 6s plus fila 2020, all vehicle types, twoand three wheelers, cars and commercial vehicles are mandated to conform toemission standards, with cost increases estimated to be between 5 10%. bijoux personnalise Having increased prices already at the beginning of January 2020 twenty one pilots coque iphone 5c by 2 3% coque iphone x strass swarovski to offset coque iphone tigrou economic cost increases, OEMs are faced with the dilemma of potentially absorbing some of the extra costs or lost volumes. The global economic slowdown has impacted the coque iphone 5 nintendo Indian automotive sector (and Europe and China). India GDP growth in Q3 2019 fell to 4.5% from 5% in Q2, and from coque huawei y5 oreille 7.1% a year ago, resulting from lowered consumer spending and amazone coque iphone 4 s reduced private investment. A depressed rural economy with the lower annual rainfall continues to coque iphone 5c impermeable have a significant impact on two wheeler demand. Growing unemployment and a moderating economy led people to postpone vehicle buying decisions. According to the Centre for Monitoring Indian Economy (CMIE), the unemployment rate was at 8.5% in October 2019, the highest since August 2016. coque iphone Inflation rose to 3.99% in September 2019 from 3.18% in coque huawei p smart 2019 loup coque iphone 6 l’om June. The International coque huawei p smart 2019 animaux Monetary Fund has cut its growth forecast for the Indian economy from 7% coque iphone 7 pnl to 6.1% in 2020. goed hoesje Growing Popularity of Shared Mobility: Shared mobility providers continue to dent the demand for passenger vehicles in urban areas, with people increasingly preferring shared mobility coque iphone 7 ford mustang services for their commute. coque huawei Based on primary research conducted in the country in 2019, Counterpoint Research estimates two out of three frequent users ofservices consider ride hailing more economical than owning a car. Leading players Ola and Uber have plans to expand services further coque iphone 3gs panda into tier 2 and tier 3 cities coque mickey huawei p smart in the next few years. coque huawei Cautious Lending by NBFCs: Non banking financial companies (NBFCs) finance most vehicle purchases, particularly in rural India. Dealers depend on NBFCs to fund their wholesale house coque iphone 5s purchasing of vehicles from OEMs. The recent solvency issues surrounding India’s NBFCs led to cautious lending that has adversely affected automotive sales in 2019 and shows no signs of abating. OEMs and dealers have approached India’s Finance Industry Development Council, seeking government intervention to improve the financial health of leading NBFCs. Exhibit 2: IndianIndustry Impact of Key FactorsIn spite of the apparent slowdown, MG coque iphone 6s sangoku Motors (part of SAIC Group), BYD and other leading Chinese OEMs includingand Great Wall Motors have serious investment plans for India and are showcasing their proposed models at this year’s Delhi Auto show. Bucking the trend MG Motors and Korean automaker Kia Motors have had strong launches of their recent SUV models, receiving significant orders months in advance.
