Car makers are, however, eyeing a boost in sales as the festival season starts from September. They are hoping that the new launches would also help pull in more consumers into its showrooms.
Car maker Hyundai earlier this month said it would launch the Grand i10 in September, and was even planning to develop a car completely in India in the next three-four years.
There were also reports that Maruti Suzuki, India's leading passenger car maker, was planning to launch a car early next year to take on the i10 Grand.
Domestic passenger car sales declined for record ninth month in July, falling 7.4 per cent from a year earlier.
Maruti Stingray, which is a upgraded version of Wagon R, is priced from Rs. 4,10,000 (ex-showroom Delhi). The Stingray is powered by a 998 cc petrol engine and is available in three variants.
Nissan's new premium compact SUV Terrano would be rolled out during the forthcoming festive season. The pre-bookings for Nissan Terrano, which has been priced under Rs 10 lakh, will commence from next month.
Volkswagen's Cross Polo is a variant of its Polo hatchback and is priced from Rs 7.75 lakh (ex-showroom Delhi). Cross Polo will be available with a 1.2-litre diesel engine and a five-speed manual gearbox.
Carmakers are also hoping that the good monsoon would boost farm income and boost car sales. Tractor sales have grown in the last few months as farmers eye a higher agricultural income due to higher support prices and a good monsoon.