And can you really blame them?
India is a notoriously hard market to crack. All the top 5 global OEMs have failed in India, where the consumer wants value for money, latest models, features, but at an attractive prices. India is not the place for OEMs who think models which work elsewhere will work here, time and time again they have failed. For India, you have to invest in models which are tailored for the market, which means investment, which many OEMs are loathe to do.
This current slowdown this shaking out the last of the laggards. And we honestly will not have many left.
Toyota- They have given up. For years they sat and mooched Indian customers with the Innova and Fortuner (earlier Qualis) and managed to do nothing else. No sub-4m sedan, no small crossover, no mid-size SUV, no people carrier! Pathetic attempts with the Etios and Yaris. Where is the C-HR Toyota?? Right now their future is selling rebadged Suzukis. So basically Maruti-Suzuki premium marque.
GM - Gone long back. They had built good brand recall with Opel and Chevrolet (Cruz). Just one shitty car after another...
Ford - Another of the American Big 3 which has given up. Ford started off with some good India-specific models like Ikon, but they are too slow. Good products but they are market laggards, just reacting to what others do. They needed to get the Puma based crossover. Will survive in India with Mahindra, but it remains to be seen how. Indian consumers do not reward indecision, and they can smell when a brand is dying.
Nissan/Datsun - I don't know who runs this operation. Surely going to shut shop. Cross-badging never works in India. Aweful choices, starting from the Sunny, to re-invogarating Datsun as a cheaper brand (For what?? when you are hardly selling a thousand or two cars a month), badge engineering with Duster/Terrano effecting dividing up the customer base and hurting both and the hilariously badly-priced Kicks has been kicked out.
Renault - This is one guy who might actually survive. Triber is the smartest thing that they have launched. They also need to work on not losing the excellent customer base they gained by the Duster, which is actually a brilliant SUV. Retro/Rugged is the norm, Renault should work on getting a Jimny/Thar competitor out.