Auto Expo 2023 may not trigger a fresh rally in automobile stocks, say analysts, as this year's edition lacks participation from major listed players. It is also owing to the focus on electric vehicles (EVs), a segment where four-wheelers have minuscule market share. "In the passenger vehicles (PV) segment, Maruti Suzuki India and Tata Motors are the only listed players.
At a time when consumers increasingly embrace green mobility solutions, it is not electric cars but hybrids that are taking the lead, as automotive sales data indicate. Since January, 64,097 electric cars have been sold compared to 266,465 hybrids, according to data from the Ministry of Road Transport and Highways' Vahan dashboard. Hybrid car sales have surged from 4.42 per cent of the 4.1 million cars sold in calendar year 2022 to 7.2 per cent this year.
Dealers said the discounts this March are higher than the same month in the previous year.
Automobile exports from India in the first six months of the current fiscal year rose 14 per cent year-on-year, led by gains in shipments of passenger vehicles and two-wheelers. According to Siam data, the overall exports in the April-September period stood at 25,28,248 units, up 14 per cent as compared with 22,11,457 units in the year-ago period. "Key markets like Latin America and Africa, which had slowed down for various reasons, have bounced back.
Major Indian carmakers are preparing for sluggish domestic PV sales growth of just 1-2 per cent in FY26.
While Hyundai Motor India reported a marginal growth, Toyota Kirloskar Motor witnessed a dip in sales last month.
All three employees are recovering fast towards normalcy and as per the safety protocol, essential information was shared with the district health authorities, it added.
India's flagship motor show Auto Expo 2023 kicked off on Wednesday with the global unveiling of Suzuki Motor Corporation's concept electric SUV 'eVX' which is slated to hit the market by 2025. The company's Indian arm Maruti Suzuki India is among the major manufacturers participating in the show that has returned after three years. The Concept eVX is a mid-size electric SUV concept designed and developed by Suzuki Motor Corporation (SMC), Japan. It will be powered by a 60 kWh battery pack offering up to 550 km of driving range on single charge.
Passenger vehicle wholesales in India witnessed a marginal growth in May on account of high base effect and muted demand due to general elections. The overall passenger vehicle dispatches from companies to dealers stood at 350,257 lakh units last month as compared to 335,436 in the same month a year ago, registering a growth of 4 per cent.
Passenger vehicle majors like Hyundai, Tata Motors, M&M, Toyota Kirloskar and Honda on Wednesday reported growth in domestic sales in August riding on festive sentiments, although market leader Maruti Suzuki posted a decline amid a semiconductor shortage affecting the industry. The country's largest carmaker Maruti Suzuki India Ltd (MSIL) reported domestic sales at 110,080 units, as compared to 116,704 units in the same month last year, down 6 per cent. "Sales volume of the company in August 2021 was affected due to electronic components shortage.
Sluggish urban demand, a high base effect, and weak sales of hatchbacks and sedans weigh down passenger vehicle sales in FY25.
New campaigns rev up their marketing pitch, while new challengers such as Tata Motors with the Zest promise to put up a spirited fight
Data issued by Siam shows sale of PVs (cars, vans and utility vehicles) grew 14.3 per cent to 275,417 vehicles.
Maruti Suzuki India to hike prices of its vehicles across models by up to Rs 20,000 from January to offset rising costs.
The car is expected to hit the road on October 23 and is being launched as Hyundai celebrates two decades in the country. Industry sources say that it will be priced at Rs 3,70,000 to stay competitive with its biggest competitors, Tata Tiago and Maruti Suzuki Celerio.
The most fun vehicle to drive of the three is the Verna. It also has the most powerful engine.
Seven auto companies lost share in the current year because of different reasons.
According to the latest data from SIAM, in the top 10 best passenger vehicles, Maruti's Alto retained the top position last month
Maruti Suzuki, Hyundai, Mahindra and Toyota reported low single-digit sales growth for the month owing to weak market sentiment
These risks would be significantly reduced if the cars had to comply with the UN test regulation for frontal and side impact.
The only silver lining in March's performance -- which otherwise dragged down the financial year's momentum -- was a 6 per cent year-on-year (Y-o-Y) growth compared to March of the previous year. This is largely due to incentives, festival-driven gains, and new launches.
Maruti's compact segment comprising New WagonR, Swift, Celerio, Ignis, Baleno, Dzire, and utility vehicles, including Gypsy, Ertiga, XL6, S-Cross and Vitara Brezza saw robust sales, while the mini segment comprising Alto, S-Presso and Old WagonR saw negative growth.
What explains India's love affair with SUVs? They are not exactly "value for money" -- the watchword for brands across segments -- nor always practical. Is it for the badge value? Or the butch imagery associated with SUVs? Maybe both, says Alokananda Chakraborty.
The automaker was found to have engaged in anti-competitive practices.
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Country's largest car-maker Maruti Suzuki India continues its dominance on the Indian roads, with its four models, led by entry-level small car Alto.
For the first time, the event will take place across three locations in Delhi: Bharat Mandapam at Pragati Maidan, Yashobhoomi Convention Centre at Dwarka, and India Expo Mart at Greater Noida.
The entire range of Hyundai's diesel cars - from compact ones to SUV models, including the soon-to-be-launched Aura - will be eco-friendly.
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.
Passenger vehicle wholesales in India rose to a record high in October as companies pushed dispatches to dealers to cater to the enhanced demand in the festive season. The overall passenger vehicle wholesales in October rose to 391,472 units, up 16 per cent from 336,679 units in the same month last year. Last month witnessed the highest-ever dispatches of passenger vehicles in the domestic market by Maruti Suzuki India and Mahindra & Mahindra.
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.
The petrol versions of the car are priced between Rs 5,05,000 and Rs 6,66,000.
Passenger vehicle wholesales in India increased 4 per cent year-on-year in May to 3,47,492 units, as compared to the same month last year, industry body SIAM said on Tuesday. Overall passenger vehicle (PV) dispatches from companies to dealers stood at 334,537 units in May 2023.
7 Maruti models among top 10 best selling passenger vehicles in April
IPOs worth Rs 50,000 crore including Hyundai, NTPC Green Energy and Swiggy are set to hit the market in late October or early November.
The country's largest carmaker Maruti Suzuki India (MSI) on Monday reported a 11.8 per cent increase in wholesales to 164,469 units in February. The company had sold 147,110 units in February last year, Maruti Suzuki India (MSI) said in a statement. Domestic sales increased 11.8 per cent to 1,52,983 units last month, as against 1,36,849 units in February 2020, it added.
Maruti Suzuki India and Tata Motors reported decline in sales during June this year.
Automobile exports from India rose 15.5 per cent year-on-year in the June quarter with all verticals, barring three-wheelers, recording growth in shipments, according to the latest SIAM data. Overall shipments stood at 11,92,577 units in the first quarter the current fiscal year, as compared with 10,32,449 units in the same period of the last fiscal. Passenger vehicle exports stood at 1,80,483 units in the first quarter, registering a jump of 19 per cent over 152,156 units in the same period last year.
Other players who have declared no production days in the recent past, and during this month, include Mahindra & Mahindra, Maruti Suzuki, Hero MotoCorp, Bosch, Jamna Auto, Wabco and Sundaram-Clayton.
Recently, Suzuki Motor Corp (SMC) in an investor presentation expressed strong intent to enter the electric vehicle (EV) space. This is part of a larger strategy the Hamamatsu-based firm has drawn up in developing electrification of technologies as it seeks to achieve carbon neutrality. The significance of this presentation is that it marked the first time that the Japanese carmaker spelt out its EV strategy with well-defined timelines. SMC plans to develop electrification technologies by 2025, fully implement them in products from the same year, and make a full-scale quantitative increase from 2030.
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