Top carmakers, including Maruti Suzuki India, Hyundai and Honda, are expecting a spike in their sales following the implementation of 7th Pay Commission recommendations.
Hyundai Motor India will raise prices of its entire product portfolio in the range of Rs 5,000 to Rs 25,000 from Jan 2015.
Maruti Suzuki, Hyundai and Mahindra failed to register significant growth.
Honda Cars India is recalling a total of 1,338 units of its premium sedan Accord and sports utility vehicle CR-V manufactured between 2002 and 2003 to replace a faulty part in the passenger side airbags. The recall, which is part of Honda's global recall regarding the potential defect related to passenger air bag announced in June 2014, would cover 1,085 units of Accord and 253 units of CR-V.
Maruti Suzuki India, country's largest car maker, on Wednesday said it will increase the prices of its entire range of models by up to Rs 10,000 from October first week, mainly due to depreciation of rupee.
Maruti sold 191 units of SX4 sedan in January 2014.
That means a manufacturer looking at a market like India needs to decide whether small, cheap cars or small, expensive cars or both will work better for them, says Pavan Lall.
A majority of HMIL's current export comprises the i10 model, which is exported to Asia, Latin America and Western Europe. In addition, the company has stated that 90 per cent of the i20 model (a premium hatchback) will be exported. The company will produce 150,000 units of the model annually.
Domestic passenger vehicle (PV) sales saw a significant growth in October due to increased availability of semiconductor chips and rising consumer confidence. The sales figures during the month - which coincided with the first post-Covid festival season - released by the top ten carmakers saw a jump of 30.7 per cent to 322,885 units in October. Auto companies count wholesales - units dispatched to dealers - as sales.
Cars have just got dearer with major automobile firms, including Maruti Suzuki India, Hyundai and General Motors, increasing prices this month in order to offset rising input costs.
Recently, South Korean Foreign Minister, Chung Eui-yong, dialled his Indian counterpart, S Jaishankar, in New Delhi. His government, he said, "regretted the offence caused to the people of India". A day earlier, India had summoned the South Korean ambassador to express its "strong displeasure" over "an unacceptable social media post".
Maruti Suzuki India (MSIL) - the market leader in small cars - is eyeing the top spot in the sports utility vehicle (SUV) segment within a year - with a 33 per cent share of the pie. The company has been selling two SUVs - the Brezza and the Grand Vitara - and will start deliveries of the Jimny and the Fronx from March-end, and has set a target of growing its share from the current 11.5 per cent of the SUV market to 33 per cent by the end of 2023-24. The SUV segment is roughly about 42 per cent of the total passenger vehicle market, or around 1.3 million units.
Maruti Suzuki and Hyundai Motors are expected to see overseas sales fall sharply following the recent removal of an incentive scheme.
Hyundai's entry-level Santro still packs a punch but, flanked by spunkier siblings, seems worn out.
Smart positioning, continued communication and a global design language have played a big role, say experts
During April, Maruti Suzuki India's domestic car sales were up 2.72 per cent at 86,481 units, as against 84,188 units in the same month last year.
Automobile retail sales in India rose 11 per cent in September as better supplies from manufacturers enabled dealers to ramp up customer deliveries amid the ongoing festive period, Federation Of Automobile Dealers Associations said on Tuesday. Last month, total retail sales stood at 14,64,001 units as compared to 13,19,647 units in September 2021. FADA noted that October is expected to witness even better overall sales due to the festive season further gathering steam.
With nearly 100 launches and unveils, the Bharat Mobility Global Expo 2025, held in Delhi from January 17 to 22, made one thing clear to automobile enthusiasts: Electric vehicles (EVs) are the way ahead for the Indian auto market for years to come.
Good sowing of kharif crops, better minimum support prices, and fewer Covid-19 cases (in villages) will help the rural growth story to continue, says Maruti.
Korea's second-largest automaker and Hyundai's sister company showcased a line-up of 16 models from its global portfolio at the ongoing Auto Show
Seeking to make a mark in the big car segment, the country's largest car maker Maruti Suzuki India will open bookings of its upcoming mid-sized sedan Ciaz from Wednesday.
Maruti Suzuki, Hyundai, Honda Cars and Tata Motors posted single digit growth during the period under review while M&M reported decline in sales.
The increase in PV sales in September was driven by festive season purchases, with SUV models like Maruti Suzuki's Brezza, Hyundai Creta, Mahindra Scorpio, Ford Ecosport and Honda W-RV witnessing good traction
During September, Maruti said it dispatched 1,375 units of the soon-to-be-launched sedan Ciaz.
Carmakers Mercedes-Benz, Audi, Renault, Kia India and MG Motor on Wednesday announced plans to hike vehicle prices from January to partially offset the impact of rising input costs. They join the likes of market leader Maruti Suzuki India and Tata Motors, which have also made the year-end announcements to raise prices from next month. Audi India said it will increase prices of its entire model range by up to 1.7 per cent, while Mercedes-Benz India noted it will hike the prices by up to 5 per cent from January 1.
Auto loan costs remain stubbornly high.
Buying a second-hand car has become hassle-free, courtesy the presence of corporate players like Maruti Suzuki's True Value and Mahindra and Mahindra's First Choice.
Some cars that are emblematic of India's automobile industry will no longer come off the assembly lines after this year.
Having learnt lessons from the past with Baleno and SX4 models, the company is preparing to aggressively tap customers who are looking to upgrade, with the Ciaz, on which it has invested Rs 620 crore (Rs 6.2 billion) on development.
The top six auto brands are: Maruti Suzuki, Hyundai, Tata Motors, Toyota, Kia and Mahindra & Mahindra.
Maruti Suzuki and Hyundai would make the largest gain.
Corporate India is starting to step up its capital expenditure plans amid government incentives and signs of rising demand, company executives and analysts have indicated. This coincides with the Reserve Bank of India (RBI) recently citing a double-digit growth in private capital expenditure. Healthy balance sheets of banks and corporates, along with increasing capacity utilisation and improving business sentiment, are contributing to a favourable environment for sustained growth in private sector investments, the RBI said in its policy last week.
BS-VI emission norms and the COVID-19 lockdown impacted the dispatches.
'Some of the launches may get deferred due to the semiconductor shortage, which is unlikely to get resolved before the second half of 2022.'
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.
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.
The onus is on the banks to pass the benefit to customers.
Almost all of these companies either unveiled their new electric vehicle or alternative energy-powered models.
The global semiconductor shortage hit passenger vehicle sales in September, with major manufacturers like Maruti Suzuki, Hyundai and Mahindra & Mahindra reporting a decline in sales on Friday. Kia India and Honda Cars also reported a dip in wholesales last month as compared with the year-ago period. Carmakers like Tata Motors, Toyota Kirloskar Motor, Nissan and Skoda, however, reported an increase in passenger vehicle dispatches last month despite supply chain issues.
Major automobile manufacturers like Maruti Suzuki, Hyundai, Mahindra & Mahindra, Tata Motors and Toyota Kirloskar on Tuesday reported decline in domestic passenger vehicle sales in May compared to the previous month as a spike in COVID-19 cases and lockdowns across various states hit production and dispatches. The country's largest carmaker Maruti Suzuki India (MSI), which shut production from May 1 to May 16 so as to divert oxygen from industrial use for medical purposes, reported domestic dispatches to dealers at 35,293 units last month, down 75 per cent from 142,454 units in April. The company said sales of its mini cars, comprising Alto and S-Presso, declined by 81 per cent to 4,760 units in May as against 25,041 units in April this year.
