Hyundai Motor and Toyota Kirloskar Motor have announced the suspension of manufacturing operations at their respective plants amid coronavirus outbreak. On Sunday, various automakers like Maruti Suzuki India, Honda Cars, Mahindra & Mahindra and Fiat announced a temporary halt in manufacturing operations at their respective facilities.
The growth momentum that started during the festival season is likely to sustain in the new year, reports Arindam Majumder.
A single application and a plethora of services for passenger cars - that is what myTVS, a brand that operates under Ki Mobility Solutions and is part of the TVS family, is set to bring to customers, in a bid to disrupt the concept of "super apps" in India. Starting July 15, myTVS will launch its connected car platform or super app called myTVS Life360 for aftermarket passenger cars. Through it, customers will be able to avail themselves of a range of services like maintenance, diagnostics, roadside assistance, accessories, payments, insurance, and so on.
After the easing of lockdown in mid-May, auto companies were able to resume production in a phased manner, but the ramp-up was slow due to a broken supply chain, and lockdown-induced restrictions.
Rural slowdown may delay growth in the economy.
The measures government takes next to push economic growth will be the key for automotive sector
The slowdown is especially pronounced in rural areas, which have suffered two consecutive dry years.
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.
Consumer goods, durables, automobiles worst hit.
About two dozen car & SUV models and two-wheelers lined up for launch
Availability of jobs at India's auto companies has shrunk significantly over the last two years, as the industry goes through one of its worst slowdowns. More than 60 per cent of the total workforce fell by 24 per cent in 2019-20, against 2017-18.
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.
Close to 50 models were launched in India in the past 12 months, but companies have not been able to realise their potential due to the pandemic.
This comes at a time when Ola is looking to replicate nationally the success of its auto-rickshaw offering in Chennai and Bengaluru.
Maruti Suzuki, Hyundai, Honda Cars and Tata Motors posted single digit growth during the period under review while M&M reported decline in sales.
Maruti, Hyundai, Tata Motors, Mahindra & Mahindra and Honda saw their passenger vehicle sales improve in August compared to the same month last year, although Ford and Toyota witnessed a decline.
In May, Satpal Singh, who runs a dairy business with three buffaloes in Jewar, near Noida, was worried about the steep spike in input costs. Singh said dry fodder rates, which cost Rs 1,500-2000 per tractor trolley last year, were quoting at Rs 4,500-5,000. The price of other cattle feed ingredients (that include mustard meal and similar mixes) had also gone up from Rs 2,000 per quintal to Rs 3,100-3,200 per quintal.
Sachin Tendulkar, Virat Kohli, Katrina Kaif, Ranbir Kapoor and Alia Bhat all turned up at the 13th edition of the gala car fair.
What stocks will gain from a normal monsoon?
The India Bike Week in Goa was a celebration of the joy of biking
While home-grown firms like Tata and Mahindra have been actively participating in the government's e-mobility mission, by launching electrified versions of their existing models, the global firms believe electric is not the best solution for a country where the primary source of power generation is coal, and where infrastructure is a big impediment.
Even as domestic passenger car sales declined 29.4 per cent between April and August this year, exports grew 6.5 per cent, partially cushioning the blow from slowing sales.
M&M also saw its domestic passenger vehicle sales grow by 1 per cent, while Toyota Kirloskar Motor witnessed a decline in its PV 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
Sensex ended up 11 points at 25,561 and the 50-share Nifty gained 16 points to end at 7,640.
Leading automakers Maruti Suzuki India, Hyundai Motor, Kia Motors and Tata Motors reported sales growth in the domestic market in November, aided by robust offtakes amid the festival season. While Maruti Suzuki India reported marginal growth, Hyundai logged in its highest ever monthly sales in November. Others like Honda Cars India, Toyota Kirloskar Motor, Mahindra & Mahindra and MG Motor India also reported sales growth in November as compared with the same month last year.
Fuel price hike will impact demand going forward.
Maruti Suzuki India said its domestic sales rose 10.6 per cent in May.
Car makers are cautiously optimistic, even as two-wheeler firms are clearly upbeat.
Come the rains and two-wheeler racing fanatics line-up for the popular off-beat challenge. The latest edition was on Sunday, August 8. There were entries from Mumbai, Nashik, Pune, Thane, Bangalore, Bhopal, and Jodhpur. Like previous years, this time too Sportscraft chose the backwoods of Navi Mumbai to give riders a chance to test their driving and racing skills in a safe environment.
India Inc expects the RBI to cut interest rates by early next year.
Even as India goes green, lack of uniform standards for setting up charging stations is holding back companies. Alnoor Peermohamed reports.
TVS should be prepared for a rough ride as Bajaj Dominar, Mahindra Mojo, Royal Enfield Classic 350 and many others are stepping on the gas for a slice of this category.
Ministries such as road transport and heavy industries are learnt to have objected to NITI Aayog's attempts to become an implementing body for the EV programme.
Before taking such loans, compare the interest rates charged by various players, advises Sanjay Kumar Singh.
The wheels turn for bicycles, as manufacturers go back to the basics. After motorised two-wheelers overtook cycle sales in the country, manufacturers are focusing on commuter segment again and reviving entry-level cycles.
Barely a month after breaking covers, the models -- the Jawa, the Jawa 42 and the Perak -- were sold out, reports Shally Seth Mohile.
Experts feel select companies in banking, automobiles, financial services & real estate will gain from lower interest rates
Maruti Suzuki, Hyundai, Mahindra and Toyota reported low single-digit sales growth for the month owing to weak market sentiment
Falling incomes and longer winter to translate into lower demand for at least some months.
