Ahead of the international auto show that begins next Wednesday, the Indian auto industry continues to be buffeted with bad news. According to data released by leading automobile companies on Saturday, the industry's sales volumes in January fell about five per cent from those in the same month last year.
It plans to increase India sales by a tenth, helped largely by launches next year
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
India is a market for low-priced cars with low running costs. The global majors don't have models that fit the bill; only Maruti and Hyundai have successful entry-level models, observes T N Ninan.
The EV industry is at an inflection point and batteries will play a critical role ahead -- batteries and related components typically constitute 35-45 per cent of an EV's costs.
As per SIAM data, vehicle sales across categories, including passenger vehicles and two-wheelers and commercial vehicles stood at 18,21,490 units last month as against 23,82,436 units in August 2018, a fall of 23.55 per cent.
Companies have also managed to find talent created by frequent exits.
Sales of diesel-powered utility vehicles have been declining in the past six months as the differential between petrol and diesel prices narrowed.
Seven auto companies lost share in the current year because of different reasons.
The models from Hyundai and Maruti, which might go on sale in October 2018 and February 2019, respectively, are set to revive a segment that had lost sheen to the compact SUV segment, lately
The price differential has been upwards of 20%.
Despite a rise in input costs, leading car-makers refrain from hiking their price.
Cumulative sale at India's top six passenger vehicle (PV) makers dropped 0.7 per cent to 267,000 units, from 269,000 a year before.
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The compact segment makes up for nearly 25 per cent of car sales in India.
Almost all of these companies either unveiled their new electric vehicle or alternative energy-powered models.
Ford said it had also shut its plant, with an annual capacity of 340,000 engines and 200,000 vehicles.
The facelifted Elantra is a loaded with features and will give it tough to rivals.
The industry needs stimuli to help revive consumer demand and conversions.
Demand for passenger vehicles has been driven by new models, especially in the SUV category with the likes of Maruti Vitara Brezza and Hyundai Creta clocking good numbers
Vehicle prices have gone up as manufacturers gear up for the transition to stricter emission norm BS-VI from BS-IV beginning April 1.
The diesel variant has an average of 24kmpl while the petrol delivers 18.9 kmpl.
Pandemic-hit auto majors are likely to set aside these time-tested strategies for now, and, instead, focus on attractive finance schemes and an enhanced digital experience.
In its first official engagement with the Indian government, Elon Musk-led Tesla and other global automotive (auto) manufacturers sought clarification on the new electric vehicle (EV) policy, specifically regarding investment guidelines and the timeline for the domestic value addition (DVA) requirement. Officials who attended the meeting told Business Standard that the original equipment manufacturers (OEMs) tried to understand whether the complete investment would be made within three or five years and the duration they would have to achieve the 50 per cent DVA. "The consultation meeting was convened to address queries from auto OEMs.
Car deliveries during the nine-day period saw sharp year-on-year (double-digit increase for most automobile companies.
The top end BR-V has been priced at Rs 12.90 lakh as opposed to Rs 14.43 lakh for Creta's top variant
Maruti Suzuki posted a marginal increase in January and the likes of Hyundai, Ford and Mahindra & Mahindra reporting a single-digit growth.
Declining motorcycle sales remained a cause of worry.
Auto loan costs remain stubbornly high.
Close on the heels of the Mukesh Ambani-controlled Reliance Retail's possible entry into the second-hand car market, Tata Motors, the country's second largest automobile major, is planning a similar foray.
Vehicle sales across categories registered an increase of 5.03 per cent to 16,03,292 units from 15,26,514 units in November 2013.
Ford to launch new compact car Figo Aspire in India
Maurti and Hyundai recorded jump in sales in May.
Apart from the growing adoption of the internet in the country, brands are drawn to the agility of the medium, its targeted and data driven approach and the increasing cost of offline channels for sales and distribution.
Market leader Maruti Suzuki is putting finishing touches to its plan of finding its feet in what is being hailed as a battle of epic proportions in India's fastest-growing passenger vehicle segment, reports Arindam Majumder.
General Motors India Vice President P Balendran termed the decision as a positive move for the overall economy.
Some cars that are emblematic of India's automobile industry will no longer come off the assembly lines after this year.
The revised prices enhances the accessibility of these outstanding products, which offer segment-first safety features and class-leading technologies
Various factors, including robust demand in rural markets and good response to new models, helped in driving the sales.
India is sceptical that Tesla might import into the country cars made in China. Tesla executives were in India last month and appear to have proposed a factory in the country. But do not be surprised if that does not happen in a hurry.
Tesla Inc, the world's largest electric car producer, is looking to make a significant investment in India, said its chief Elon Musk, who saw India as holding more promise than any other large country around the globe. Musk, after meeting Prime Minister Narendra Modi, said he plans to visit India in 2024. "I am confident that Tesla will be in India and we will do so as soon as humanly possible," Musk told reporters after the meeting.
