Weak monsoon curbs rural buying, India's urban car sales strong
This year's weak monsoon (rainfall was down by 12.6%) has made life tougher for rural India, leading to fewer tractors and two-wheelers being sold as farmers watch their spending.
While crop worries and lower incomes hit the countryside, city folks are still snapping up cars ahead of the festive season, keeping passenger vehicle sales upbeat.
Tractors and 2-wheelers slump, carmakers surge
Big names like Mahindra & Mahindra saw tractor sales drop 21% last month, with Escorts Kubota also down 16.7%.
Bajaj Auto reported a 12% dip in two-wheeler sales.
Even farm supply companies like Rallis India noticed farmers cutting back on essentials like fertilizers and pesticides.
Meanwhile, Hyundai Motor India posted record monthly sales, while Maruti Suzuki reported double-digit growth in cities, showing just how differently rural and urban markets are reacting this year.