The company would roll out the BS-VI range of products and an automatic transmission version of its latest car 'Triber' next year.
New regulatory rules, softer freight rates and a liquidity crunch at non-bank lenders are among the reasons.
Companies also said confidence was yet to return among buyers, with many holding back their decision to buy cars.
Maruti Suzuki India (MSI) plans to drive in CNG trims across its product range as it remains bullish over long-term prospects of the segment amid increase in fuel prices and drop in diesel car sales, according to a senior company official. The company, which sold around 1.62 lakh CNG cars last fiscal year, is also counting on the rapid expansion of CNG dispensing outlets across the country to bring in more CNG products. Bullish on the expansion of the sales network, the automaker expects its CNG car sales to almost double this fiscal year over 2020-21.
Automaker Jeep India on Wednesday launched a locally assembled version of its premium SUV Wrangler in the country with introductory prices starting at Rs 53.9 lakh (ex-showroom). The company had started the production of the model at its Ranjangaon plant near Pune in February and is now ready for retail across the country. The locally-assembled Jeep Wrangler is available in two variants - the Unlimited and Rubicon, priced at Rs 53.9 lakh and Rs 57.9 lakh, respectively. Both variants come with a BS-VI compliant 2-litre turbo petrol powertrain, which produces 268 horsepower and 400 Nm of torque and comes mated with an 8-speed automatic gearbox.
The company cited low demand in the second half of the year due to high interest rates, increased insurance cost and fuel prices for its downward revision
'Inquiries and bookings are at quite a healthy level.'
Two-wheeler prices are likely to rise by 10-25 per cent on account of higher premiums on insurance and commodity prices, mandatory safety regulations and BS-VI emissions that kick in from April 1, 2020.
'Petrol cars, which constitute the majority, do not contribute to the 2.5 PM emissions as petrol used in the country is of higher quality.'
Dealers say the significant increase in sales was driven by a need to plug the diminishing inventory as most dealerships were transitioning from BS-IV to BS-VI when the Covid-19 lockdown was announced.
There are about 23 oil refineries in India with a combined capacity of 230 million tonnes per annum.
Acentral panel directed authorities to ban the plying of 4-wheeled diesel LMVs in Delhi and adjoining NCR districts and the entry of trucks into the capital.
Vehicle sales have been hampered by weak consumer sentiment and still-weak availability of financing following tighter liquidity at non-banking lenders since the middle of 2018.
TVS Motor Company, the only company in India to manufacture mopeds, said domestic sales dropped by 25.58% in April-Oct and exports fell by nearly 40%.
Shortage of semiconductors, price hikes pull January auto sales into red. Dec had seen sales grow for 1st time this FY, which dealers called a one-off.
As the air pollution in Delhi-NCR ameliorated over the last two days, the Centre's air quality panel Sunday directed authorities to lift the ban on plying of non-BS VI diesel light motor vehicles in the region and the entry of trucks into the capital imposed under the final stage of the Graded Response Action Plan.
The panel suggested the cess for BS-IV and BS-V fuels should accrue to the Oil Industry Development Board
Sebi might come out with a regulatory framework for issuance of 'green' bonds
The model, which will compete with the likes of Hyundai Verna, Maruti Suzuki Ciaz and Skoda Rapid, now features smart devices ecosystem including Alexa remote capability and 32 connected features as standard feature across all variants with a five-year free subscription.
While commercial vehicle (CV) sales were the worst hit, down by 21 per cent to 67,793 units from 85,833 units, two-wheeler sales dropped by 16 per cent to 12,64,169 units from 15,00,545 units. Passenger car sales dropped nine per cent to 215,716 units from 236,586 units.
Automobile dealers' body FADA on Thursday said passenger vehicle (PV) retail sales in March witnessed a year-on-year growth of 28.39 per cent to 279,745 units, as compared to the year-ago period which saw disruptions in the market due to COVID-19 led lockdown. According to the Federation of Automobile Dealers Associations (FADA), which collected vehicle registration data from 1,277 out of the 1,482 regional transport offices (RTOs), PV sales stood at 217,879 units in March 2020. Two-wheeler sales, however, declined 35.26 per cent to 11,95,445 units last month, as compared to 18,46,613 units in March 2020. Commercial vehicle sales also declined 42.2 per cent to 67,372 units, as against 116,559 units a year ago.
From Hyundai to Tata Motors, automakers are staring at a bleak future. With no succor provided in the Budget, the pain for companies is likely to continue for the next two quarters.
Companies expect recovery in second half of fiscal as BS VI approaches, claim banks and NBFCs showing greater interest in financing.
Areas in the National Capital Region -- Noida and Gurugram -- recorded an AQI of 529 and 478 respectively both in the highly toxic 'severe'.
Vehicle prices have gone up as manufacturers gear up for the transition to stricter emission norm BS-VI from BS-IV beginning April 1.
Government needs to promote electrification and charge points and make sure India has stable power supply.
Domestic commercial vehicle sales volume is expected to grow 9-11 per cent in FY24 driven by medium and heavy commercial vehicles and an estimated economic growth of around 6 per cent, rating agency CRISIL said on Monday. Besides, an increased allocation to infrastructure spending in the Union Budget for next fiscal year will support demand, it said. This would be the third consecutive year of growth in the domestic CV industry, according to CRISIL.
'It is a gradual process of saying we want to have all the decisions across business sectors available in India as well.'
Domestic passenger vehicle sales declined 0.84 per cent to 2,63,773 units in November from 2,66,000 units in the year-ago period. Motorcycle sales, too, declined 14.87 per cent to 8,93,538 units. Vehicle sales across categories registered a decline of 12.05 per cent to 17,92,415 units from 20,38,007 units in November 2018.
Indian auto industry's dependence on China is high and it will continue to be so in the BS-VI era and as the country moves towards electric mobility. Domestic players lack both technological competence and the sheer pricing advantage that support Chinese imports.
Indian automakers dispatched nearly 2.92 lakh passenger vehicles, the highest ever for February so far, driven by strong demand for cars and utility vehicles, industry body SIAM said on Friday. The total passenger vehicle dispatches from companies to dealers last month increased 11 per cent to 2,91,928 units from 2,62,984 units in February 2022. Passenger car sales rose to 1,42,201 units in February against 1,33,572 units in the year-ago period.
Automobile retail sales in India clocked best-ever performance last month aided by robust registrations across segments including passenger vehicles, two-wheelers and commercial vehicles, automobile dealer' body FADA said on Friday. The overall automobile retail sales rose by 26 per cent to 23,80,465 units last month, as compared with 18,93,647 units in November 2021. "November 2022 has clocked highest retails in the history of Indian automobile Industry with March'20 as an exception when retails were higher due to BS IV to BS VI transition," Federation of Automobile Dealers Associations (FADA) president Manish Raj Singhania said in a statement.
On the highway, it pulls along with ease and offers smooth commuter ride and drive experience, and also has little competition, says Pavan Lall.
The new model, which is based on the company's fifth generation HEARTECT platform, comes with a BS-VI compliant one-litre petrol engine with a claimed fuel efficiency of 21.7 km per litre.
The company, which unveiled its compact multi-purpose vehicle Triber in India, is bringing the MPV only in petrol engine option as part of the strategy even as it prepares to introduce electric vehicles in the near future.
Stalling the introduction of better emission standards is based on specious logic, especially in a country that has 13 of the world's most polluted cities.
The demand environment is expected to improve over the next three quarters, aided by a recovery in demand from the construction sector, following release of payments to contractors after elections.
The model is loaded with various safety features including six air bags, anti-lock braking system with brake assist, dynamic stability control, including dynamic traction control, cornering brake control, among others.
According to the Icra report, earnings before interest, tax, depreciation and amortisation margin of its sample declined by 44 basis points on a YoY basis and 23 basis points on a quarter-on-quarter basis to 16.6 per cent.
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