Domestic passenger car sales declined by 23.77 per cent to 1,38,521 units in October, 2011, from 1,81,704 units in the same month last year.
The Society of Indian Automobile Manufacturers on Wednesday said the new definition for completely knocked down (CKD) units of vehicles introduced in the Budget for 2011-12 will significantly increase the cost for high-end players and also hamper the introduction of new products.
Car and sports utility vehicle makers say they're taken aback by the Union finance ministry's proposal to bring locally assembled models into the same duty structure as imported units. They say the move would cripple demand, following a substantial rise in vehicle prices.
Sales plunged to 133,747 units from 158,767 in the same month last year.
Losers include ONGC, Bajaj Finance, Reliance, SBI, Hero MotoCorp, ICICI Bank, L&T, Vedanta, Yes Bank and Axis Bank, falling up to 2.54 per cent. On the other hand, Tata Steel, PowerGrid, HCL Tech, Kotak Bank and Maruti were the top gainers on Sensex, rising up to 2.31 per cent.
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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.
Customers have started to factor in the narrowing gap between petrol and diesel and the premium that needs to be paid for a diesel vehicle.
Reflecting the woes of the Indian automobile industry, the country's car exports remained flat at 550,466 units in 2013-14, during which domestic sales fell for the second consecutive year.
The new SUV from the Tatas will compete with the likes of Jeep Compass, Hyundai Creta, Hyundai Tucson and the Mahindra XUV500.
According to figures released by the Society of Indian Automobile Manufacturers, passenger car exports in August were at 37,952 units, as against 40,901 units in the same month last year.
Instead of linking MPs' salary to the cost of living index, it should be anchored to the growth rate so long as India boasts the world's second-highest growth, feels Sunanda K Datta-Ray.
US car maker Ford on Thursday said it will introduce eight new products in India by 2015 in a bid to tap the burgeoning domestic car market.
French car maker Renault on Thursday said it is developing a car which will be designed to meet the requirements of the Indian market and is expected to be introduced after 2013.
Domestic passenger car sales grew by 1.62 per cent to 1,43,370 units in June, 2011, from 1,41,087 units in the same month last year.
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Morgan Stanley Sales & Trading, US, believes the stock is better value for money than others and has a upside as high as 73 per cent. A slowdown in the economy has hit demand and led to a fall in overall consumption in an auto market which till recently was one of the fastest growing in the world.
Govt may delay BS-V and -VI implementation by a year
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Sales of commercial vehicles rose 9.01 per cent to 51,000 units in December, SIAM said.
This is the total of both, direct and indirect employment growth as a result of the expansion. Estimates put together by the Society of Indian Automobile Manufacturers (Siam) say this will be the extra added between now and 2012, to support the ever-increasing demand for new vehicles.
Sales of commercial vehicles jumped by 8.22 per cent to 53,202 units from 49,162 units in the year-ago period, SIAM said.
August 2010 proved to be a good month for most auto manufacturers.
Automobile companies have reported the highest ever monthly sales in India.
As rivals gain ground, the market share of the country's largest car-maker, Maruti Suzuki India, continues to hover below the 50 per cent mark, despite the firm posting its best-ever monthly domestic sales in July.
At a time when many major global auto markets witnessed declines, Indian carmakers were able to expand their overseas presence with exports from the country registering a robust 33.23 per cent growth in the last fiscal.
This will ensure its vehicles reach dealers much faster and delivered to buyers in a maximum of three days, reports Shally Seth Mohile.
The government on Friday announced several relief measures including deferring one-time registration fee, lifting the ban on purchase of petrol/diesel vehicles by its departments and allowing higher depreciation, but it remained non-committal on the demand for a reduction in GST rates.
'Perhaps it isn't protocol at all, but power before which we abase ourselves,' says Sunanda K Datta-Ray.
This is the seventh straight month of growth
The exports of passenger cars from India rose 27.88 per cent in April, while that of motorcycles zoomed by 95.71 per cent as the country's automakers continued to cash in on the recovery in the global automotive market.
Domestic passenger car sales jumped by 39.48 per cent to 1,43,976 units in April. The figure for the corresponding month of the last year was 1,03,227 units.
According to the Society of Indian Automobile Manufacturers' (Siam's) data, Ford India between April and June produced 6,752 cars, of which 219 units were exported, through containers in different shipments.
Net profit at M&M and Mahindra Vehicle Manufacturing Ltd contracted to Rs 918 crore from Rs 1,238 crore a year ago while revenue and other income decreased to Rs 12,997 crore from Rs 13,551 crore a year ago.
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The Rs 17.70-lakh Honda Civic competes with the Skoda Octavia, Toyota Corola Altis and Hyundai Elantra.
The Japanese auto maker, which is present in India through a joint venture with the Kirloskar Group, is investing Rs 3,200 crore (Rs 32 billion) for setting up a new production facility in Bangalore to launch its 'strategic' small car in New Delhi.
As the Nano made its commercial debut, automotive industry experts opined that the Rs 1 lakh wonder from the Tata stable can give an additional 14 million Indian families access to an affordable car, thus creating a niche segment.
The pilot project initiated by Indian Railways in December 2008 to transport cars on rail has been commercialised and will be extended to other parts of the country.
Domestic passenger car sales jumped by 30.79 per cent to 1,41,184 units in June, 2010, compared to 1,07,948 units in the same month last year, said an Indian automobile body.
Maruti launched the Baleno in May 2016 and the new Swift in February this year
