Utility vehicles leader Mahindra and Mahindra on Monday announced a nominal 0.5 per cent price hike across all models, expect for the premium sports utility vehicles XUV 500 and the Rexton from its Korean arm, despite falling sales, which dipped nearly 8 per cent in June.
But it is likely that campaign spending resulted in some positive activity through this period.
The auto major had posted a profit of Rs 3,945.47 crore (Rs 39.45 billion) in the same period a year earlier.
The key beneficiary of this expansion in the motorcycle market happens to be Bajaj Auto.
The internals of the food inflation are worrying, given a broad-based uptick across categories that tend to be sticky, such as proteins, and a narrower-than-expected reduction in inflation for vegetables.
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.
Global energy supermajor BP plc on Thursday said it is about to open its first 'Jio-bp' branded petrol pump in partnership with Reliance Industries near Mumbai.
The $306-million investment in Ola Electric Mobility by SoftBank Corp, Arun Sarin Family, Ratan Tata and Matrix has been the biggest funding in this space in value terms this year.
Terming the calls for imposing additional tax on diesel vehicles as "retrograde", homegrown auto major Mahindra & Mahindra today said such a move will only further impede growth of the industry which has had a difficult year in 2011.
The letter shared with the media on Saturday comes amid Maharashtra losing several big-ticket projects to neighbouring Gujarat.
'Currently, scooters contribute to one third of the total domestic two-wheeler market and it continues to grow.' 'That is why many new models are being launched in this category.'
'I'm pitching India for the strengths we offer, including the English language, engineers, doctors, nurses, professionals, innovative talent of startups.'
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For players like Toyota Kirloskar and Ford, the contribution of UVs to overall sales is now well over 60%.
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.
Union Minister Nitin Gadkari on Monday said American electric car major Tesla is set to start its operations in India next year and would also look at setting up of a manufacturing unit based on demand. The Road, Transport and Highways minister has been pushing for green fuel and electric vehicles for cutting India's huge Rs 8 lakh crore crude imports. Tesla Inc. co-founder and chief executive Elon Musk had in October said the company will enter the Indian market in 2021.
Experts say local demand, government policies in retail and refining sector are attracting foreign players.
The auto sector is doing well in India, despite stock market meltdown, emerging signals of industrial slowdown and rising costs.
The automaker says it has taken into account some of the big concerns of those behind the wheels today: improved acceleration performance, strength and rigidity, spacious and a more comfortable driving experience.
Sensex, Nifty end lower on global concerns.
Morgan Stanley Sales & Trading, US, believes the stock is better value for money than others and has a upside as high as 73 per cent. A slowdown in the economy has hit demand and led to a fall in overall consumption in an auto market which till recently was one of the fastest growing in the world.
India Inc expects the RBI to cut interest rates by early next year.
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Sensex ends 134.91 pts down at 28,709.87; Nifty falls 44.70 pts at 8,712.05.
GST will lead to consolidation of multiple indirect taxes
Already reeling under a demand slump, automobile manufacturers have expressed disappointment over the RBI's decision to hike short term lending rate saying it is likely to impact the interest rates on car and automobile loans further.
Combined sales at top four manufacturers - Tata Motors, Ashok Leyland, Volvo Eicher Commercial Vehicles, and Mahindra and Mahindra - dropped 20 per cent to 20,324 units in November
Fuel price hike will impact demand going forward.
Size matters on the road. Small is not dominating India's car market any more. The share of cars priced up to Rs 5 lakh in the passenger vehicle market has fallen to 10.5 per cent in the first 11 months of 2021-22, compared with 26 per cent in 2018-19 (FY19), the lowest in four years, according to data from industry sources. Even the share of those in the price range between Rs 5 lakh and Rs 7.5 lakh has dropped to 32.4 per cent in the same period, from 34.9 per cent.
Reflecting the mood, passenger vehicle sales in November either remained muted or skidded for most manufacturers as high fuel prices and the higher cost of borrowing dampened buying sentiment.
The 30-share Sensex ended down 71 points at 26,710 and the 50-share Nifty lost 38 points to close at 8,030.
'Returns can be very variable in equity markets.' 'That is why I tell small investors don't put 100 per cent of your money in equities, even if you are young.'
Prices of two-wheelers, passenger and commercial vehicles are set to rise 15-25%
The ongoing elections and overall subdued market sentiment continue to affect the sales momentum
With no signs of economic revival under the current political circumstances, SIAM said it expected a turnaround in the fortune of the auto industry only after a new government is formed after the general elections next year.
We can't wait to see Maruti Suzuki S-Cross and Hyundai ix25 hitting the roads.
Being one of the early commentators to flag economic slowdown and caution investors on corporate earnings, Gautam Chhaochharia, head of India research, UBS Securities, in an interview with Hamsini Karthik says the markets remain in an expensive zone despite the recent correction.
Investors widened their bets on optimism that upcoming general budget -- to be unveiled next month - would contain incentives for corporates, which will help boost the economy
The first half of 2019-20 will be under pressure, since prices are expected to go up by Rs 7,000-8,000 at a time when sentiment is poor.
Japanese auto major Suzuki Motor Corporation (SMC) on Wednesday said its long-serving chairman Osamu Suzuki will retire and assume the role of senior advisor subject to shareholders' approval in the ordinary general meeting to be held in June this year.
