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.
Among major Sensex gainers, ITC rose the most by 2.32 per cent, followed by TCS, M&M, SBI and Bharti Airtel.
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Sales of four- and two-wheelers almost halved in August, compared to the equivalent month last year.
Auto companies are now grappling with a slowdown in sales, triggered by pent up demand due to the COVID-led lockdown easing a bit and supply-side issues for raw material.
Other major gainers were Tata Steel, Yes bank, Axis Bank, Maruti Suzuki, Tech Mahindra and TCS -- rising as much as 7.09 per cent.
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.
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 new SUV from the Tatas will compete with the likes of Jeep Compass, Hyundai Creta, Hyundai Tucson and the Mahindra XUV500.
The industry needs stimuli to help revive consumer demand and conversions.
Various factors, including robust demand in rural markets and good response to new models, helped in driving the sales.
IL&FS group would resolve debt of Rs 55,000 crore by March 2022, the board of the crisis-hit company has stated in its affidavit filed before the National Company Law Appellate Tribunal (NCLAT). While updating the progress of the resolution progress, the IL&FS board, led by Uday Kotak, said Rs 55,000 crore debt would be resolved through asset monetisation, restructuring and insolvency proceeding initiatives. Some of this has already been completed while the rest is at different stages of resolution, it said in a brief snapshot on the progress made in the ongoing resolution process till December 7, 2021, and suggested estimates of progress to be made by March 2022.
Investors turned cautious weighing weak GDP numbers and continued drop in automobile sales, bringing banking and auto sector stocks under pressure.
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At a price starting from Rs 849,000 and going up to Rs 12.14 lakh, the XUV300 competes with the Maruti Brezza, Tata Nexon, Ford EcoSport, and Honda WR-V.
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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
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Besides their country of origin, General Motors, Ford Motor and Harley-Davidson have another trait in common: all three have failed in India, the world's fifth largest automobile market. All three of them took a tough call to de-prioritise India as a market amid disruption from heightened regulations and sharper focus on capital allocation by the parent.
Maruti Suzuki India (MSI) on Monday reported a 29.1 per cent rise in total sales in October.
Even as India goes green, lack of uniform standards for setting up charging stations is holding back companies. Alnoor Peermohamed reports.
The company announced on July 11 that it would stop production at its automotive plants for a period ranging from 1 to 8 days during the remaining period of the month.
The auto industry has had a mixed month. The build up to Dhanteras and Diwali was good but the demand tapered off subsequently.
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.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Vehicle sales across categories registered a decline of 8.62 per cent to 20,86,358 units from 22,83,262 units in May 2018.
The automaker was found to have engaged in anti-competitive practices.
Public-interest litigators Arundhati Katju and Menaka Guruswamy, who spearheaded a historic legal battle for LGBTQ rights in India, along with Reliance Industries Chairman Mukesh Ambani are among the Indians who have been named by TIME magazine in its prestigious list of the 100 most influential people in the world. The list also includes Indian-American comedian and TV host Hasan Minhaj.
By 2026, around 25 per cent of the global population may spend at least an hour a day on Metaverse. This will open the doors for many businesses, the NFTs market will spread, and Web 3.0 will attract more investment.
Maruti Suzuki India said its domestic sales rose 10.6 per cent in May.
Higher exports will also drive up volumes, as the company seeks to avail of the benefits under the government's recently announced production linked incentive scheme.
Data issued by Siam shows sale of PVs (cars, vans and utility vehicles) grew 14.3 per cent to 275,417 vehicles.
While the share of diesel vehicles sales in the overall passenger car industry has already fallen sharply, sales of CNG vehicles have shown a compound annual growth rate of 15.5 per cent over the past five years.
The phenomenal success of Xcent, Grand and Santa Fe increased volumes creating positive momentum
As global economies contract because of the Covid-19 pandemic, the focus of most of the India Inc has now moved back to the home market where demand is expected to pick substantially from the coming festival season.
Fuel price hike will impact demand going forward.
The rough and tough image of SUVs is now being presented in a more technologically upgraded form.
While customers in metro cities are still buying cars, quick growth is likely only from upcountry markets, where highways and roads are being built, and discretionary income and aspirations are rising.
Young, raw energy from India's engineering colleges on display!
