As per the data from the industry lobby Siam, Renault India's market share has almost halved to a low 2.3 percent in FY19 down from 4.43 percent in FY17.
Vans recorded the highest sales volume in the Indian market in five years with 2.2 lakh units finding buyers, against 1.9 lakh units in FY18.
The cold chain logistics industry expects these guidelines to kick-in before the end of 2019.
Wholesale volumes of PVs rose 2.7% to 3,377,436 units, of commercial vehicles by 17.55% to 1,007,319 units.
The dealers' body also said that while new inquiries from customers haven't gone down significantly, actual sales have seen a major dip.
After 2 years of high double-digit growth, segment sees just 2% rise in FY19 due to higher fuel, insurance costs
Slowing urban consumption and rise in cost of ownership forced many buyers to either defer the purchase.
Insurance costs, liquidity crunch and fuel prices have led to the downturn after Diwali, says Rajiv Bajaj.
M&M managed to sell 2.55 lakh passenger vehicles, growing 2% over the preceding year.
The company is betting on technology to keep alive the business of capturing pictures of visitors to tourist attractions.
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