Experts attribute the high valuation of Indian auto makers to the faster growth in India compared to the rest of the world.
Tesla needs to either sell the same models with reduced features to lower the cost for Indian market, or incur losses.
In terms of volumes, sales were up by 19.6 per cent to 2,75,586 units compared 2,30,376 to the year-ago period.
Car purchases in India are largely limited to the top 12 per cent of households with an annual income exceeding Rs 12 lakh, while even small cars have become unaffordable for the remaining 88 per cent, said R C Bhargava, chairman of Maruti Suzuki India Limited (MSIL), on Friday. "How can you get high car sales growth if 88 per cent of the country are below the levels of income where they cannot afford these cars costing Rs 10 lakhs and above?
Country's largest car-maker Maruti Suzuki India (MSI) on Saturday reported 10.3 per cent decline in total sales in January at 1,02,416 units as against 1,14,205 units in the same month last year.
For UK automakers, market access to India will be limited by quantity caps and phased tariff cuts, especially on petrol, diesel and electric vehicles.
Maruti Suzuki India (MSI) on Tuesday said it will not resume full-scale production at its Manesar plant till workers sign a 'good conduct bond', as demanded by the company to ensure there is no repeat of quality issues that have surfaced at the plant.
The country's biggest carmaker, Maruti Suzuki India, has raised concerns about the continuing slide in small car sales.
Siam argues that a 2040 ban could destabilise ongoing and future investments and threaten millions of jobs in the automotive value chain.
Lenders have become worried as some dealers were not using the money provided to them for car financing.
Hyundai, which is also toeing Maruti's lines, said special schemes are offered to engage the cab aggregators, including annual-maintenance-contract packages and extended warranty.
MSIL, which currently has a subscription service that allows customers to lease its petrol-run and strong hybrid vehicles on a flexible, long-term basis without ownership commitments, will introduce a leasing service as well.
Tata Motors is hoping to beat its target year of 2030 and have 30 per cent of its portfolio comprising electric vehicles (EVs), according to Chairman N Chandrasekaran, who was speaking at the company's last annual general meeting (AGM) ahead if its demerger.
Analysts believe Tesla will first focus on building the Model Y brand before expanding -- both in terms of volume and models.
From the Sensex pack, Nestle India, HCL Technologies, Tech Mahindra, Bharti Airtel, Titan, Infosys, Asian Paints, NTPC, Bajaj Finserv and Sun Pharmaceuticals were among the laggards. State Bank of India, IndusInd Bank, Zomato, Power Grid, ICICI Bank, Tata Motors, Mahindra & Mahindra, Tata Consultancy Services and Adani Ports were the gainers.
Fada estimates that global supply chain headwinds like scarce availability of rare earth elements for electric vehicle components and geopolitical tensions may affect urban consumer sentiment in June as well.
From the 30 Sensex companies, Zomato, Tata Motors, IndusInd Bank, Asian Paints, Bajaj Finance, Maruti Suzuki India, Adani Ports, Hindustan Unilever, Reliance Industries, Bajaj Finserv, UltraTech Cement and Infosys were among the laggards. In contrast, State Bank of India, ICICI Bank, Tata Steel, NTPC, Tata Consultancy Services, PowerGrid, Kotak Mahindra Bank and Sun Pharmaceuticals were the gainers.
Leading passenger vehicle maker Maruti Suzuki on Saturday reported marginal growth while Hyundai and Tata Motors posted a decline in their sales in February as a slowdown in the market continued with demand remaining muted. On the other hand, Mahindra & Mahindra and Toyota Kirloskar Motor posted double-digit growth riding on their SUV and MPV models.
Net sales, however, rose marginally to Rs 21,551.9 crore for the quarter under review
From the Sensex pack, IndusInd Bank, Infosys, Bajaj Finserv, Mahindra & Mahindra, Zomato, Hindustan Unilever, Power Grid, Axis Bank, UltraTech Cement, Adani Ports, and Tata Consultancy Services were among the laggards. On the other hand, Sun Pharmaceuticals, ICICI Bank, Bharti Airtel, HCL Technologies, Maruti Suzuki India, Larsen & Toubro, Reliance Industries, Kotak Mahindra Bank and Titan were the gainers.
Hyundai Motor India and Honda Cars India on Wednesday joined the list of automakers planning to hike prices of vehicles from April, second time this year, to partially offset the impact of rising input costs and higher operational expenses. In a statement Hyundai Motor India Ltd (HMIL) said it will hike prices of its vehicles by up to 3 per cent effective in April 2025.
The initial public offer of Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, got subscribed 2.37 times on the third day of the bidding on Thursday, helped by institutional buyers. This is the largest IPO in the country, surpassing LIC's initial share sale of Rs 21,000 crore. The Rs 27,870 crore initial share sale got bids for 23,63,26,937 shares against 9,97,69,810 shares on offer, translating into 2.37 times subscription, as per NSE data.
...But sales of domestic passenger vehicles dropped 2% to 3% year-on-year in August owing to low demand.
Maruti Suzuki India on Tuesday said it has increased prices of its entire model range with immediate effect. An estimated weighted average of increase across models is 0.45 per cent, the auto major said in a regulatory filing.
According to experts, even if an additional 5 per cent of people opt to buy new vehicles, it may bring a huge boost to the sector.
Tata Motors is the leader in the electric car market with about 62 per cent share.
Maruti Suzuki, Hyundai and Tata Motors reported a decline in wholesales in September as the companies curtailed dispatches to dealers to reduce inventory build-up amid a decline in demand. Maruti Suzuki India reported a 4 per cent dip in total domestic passenger vehicle wholesales last month to 144,962 units compared to 150,812 units in the year-ago month. The auto major said sales of mini segment cars, comprising Alto and S-Presso, grew marginally to 10,363 units against 10,351 units in September 2023.
The 17 rare earth elements that are at the centre of the current crisis are critical components of everyday products -- from cars to jet engines to electronics like smartphones and flat-screen TVs.
The company said its cost reduction and localisation initiatives, growth in volumes and favourable foreign exchange helped improve the bottomline during the quarter.
Car sales in the quarter were up 3.9 per cent at 3,60,402 units, the company said, adding that the exports were at 27,009 units.
From the Sensex pack, Tata Consultancy Services, HCL Technologies, Tech Mahindra, Infosys, Tata Motors, Bajaj Finance, Kotak Mahindra Bank, Mahindra & Mahindra, Bharti Airtel and Maruti Suzuki India, Tata Steel were the major laggards. PowerGrid, Sun Pharmaceuticals, UltraTech Cement, NTPC, Asian Paints, Nestle India, Titan, IndusInd Bank and Axis Bank were among the gainers.
Indian passenger vehicles market registered record wholesales of 43 lakh units in 2024, with companies like market leader Maruti Suzuki, Hyundai, Tata Motors, Toyota Kirloskar Motor, and Kia posting their best-ever annual domestic sales. The continued growth of SUVs, along with rural markets playing a key role in driving up car sales, helped the industry better the previous best of nearly 41.1 lakh units posted in 2023.
The initial public offer of Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, received an 18 per cent subscription on the first day of bidding on Tuesday. The Rs 27,870 crore initial share sale received bids for 1,77,89,457 shares against 9,97,69,810 shares on offer, as per NSE data. The IPO received over 9 lakh applications on the first day.
Net sales of the company for the fiscal stood at Rs 48,605.53 crore.
Will you ditch Honda City or Hyundai Verna for Maruti's latest offering?
Net sales during the reported quarter rose to Rs 20,594.3 crore, up 14.4 per cent against the year-ago period.
The quarter was marked by adverse foreign exchange rates and commodity prices, higher depreciation and higher sales promotion expenses.
'Without his vision and foresight, his willingness to take a risk that no one else was willing to take, his deep and abiding love for India, the Indian automobile industry could not have become the powerhouse that it has become.'
Passenger vehicle dispatches from companies to dealerships witnessed an increase of 1.6 pc year-on-year in January at 399,386 units driven by robust demand for utility vehicles, industry body SIAM said on Thursday. It was the highest-ever passenger vehicle dispatch for the month of January.
