As there is a moderation in car sales, dealer stock levels across the entire industry have surged to alarming heights. However, the situation is under control at HMIL.
Industry leaders on Thursday mourned the death of Ratan Tata saying with his demise India has lost a visionary who shaped its industrial and philanthropic landscape. Tata was a truly remarkable business leader who placed the country before business interests, and whose vision was truly transformational for a country and its people, TVS Motor Co Chairman Emeritus Venu Srinivasan said in a statement. "Mr Tata was a truly remarkable business leader, the likes of whom nations get only once in a century," he added.
High fuel prices and interest rates continue to hit automobile manufacturers, with sales of passenger cars slowing to a seven-month low at 2.8 per cent in May.
Passenger vehicle wholesales in India increased by 1.87 per cent year-on-year to 361,717 units last month, industry body SIAM said on Monday. The passenger vehicle dispatches to dealers stood at 3,55,043 units in September 2022. Similarly, two-wheeler sales increased to 17,49,794 units last month from 17,35,199 units in the year-ago period, Society of Indian Automobile Manufacturers (SIAM) said.
Falling margins, high inflation pitting workers against management.
Domestic passenger car sales touched a record 189,008 units in February this year, a growth of 22.63 per cent vis-a-vis the figure for the same month of 2010, as customers advanced their purchases fearing a possible excise duty hike in the Budget.
Propelled by the top three automakers -- Maruti, Hyundai and Tata Motors -- domestic car sales surged by a robust 31.1 per cent in January.\n\n\n\n
Passenger vehicle wholesales in India witnessed a decline of 41 per cent year-on year in September as automobile manufacturers struggled to produce adequate units owing to semiconductor shortage, auto industry body SIAM said on Thursday. Passenger vehicle sales last month stood at 1,60,070 units as compared with 2,72,027 units in the year-ago period. As per the latest data by Society of Indian Automobile Manufacturers (SIAM), two-wheeler dispatches to dealers also witnessed a dip of 17 per cent at 15,28,472 units, compared to 18,49,546 in September 2020.
Thanks to the late surge in sales towards the second half of the year, total domestic automobile sales in year 2009 grew by 16.93 per cent to 1,13,20,918 units compared to 96,82,113 units in 2008.
Passenger vehicle wholesales in India touched a record high of 42,18,746 units in the financial year 2023-24, registering a year-on-year growth of 8.4 per cent on the back of robust demand for utility vehicles, industry body SIAM said on Friday. As per the latest data issued by the Society of Indian Automobile Manufacturers (SIAM), the overall passenger vehicle dispatches stood at 38,90,114 units in fiscal year 2022-23. Two-wheeler sales were up 13.3 per cent last fiscal at 1,79,74,365 units, as compared to 1,58,62,771 units in the financial year 2022-23.
The environment ministry is likely to soon issue regulations that will mandate automakers to recycle a specified percentage of steel from old vehicles, starting from the next financial year, according to people familiar with the matter. "We recently held a meeting with members of the Society of Indian Automobile Manufacturers (Siam). "The final regulations are likely to be issued in the next 10 days," a government source informed.
The top six auto brands are: Maruti Suzuki, Hyundai, Tata Motors, Toyota, Kia and Mahindra & Mahindra.
German luxury car makers - Mercedes Benz, Audi and BMW - attracted the maximum crowds during the day.
Driven by Maruti, Hyundai and Tata Motors, car sales soared 24.1 per cent in September 2004 for the sixth consecutive month, raising hopes of good second quarter profit for automakers.
Passenger vehicle wholesales in India rose 9 per cent year-on-year in August on the back of strong demand for utility models, industry body SIAM said on Monday. Overall passenger vehicle dispatches to dealers rose to 359,228 units last month from 328,376 units in August 2022. Utility vehicle sales increased 34 per cent year-on-year to 181,825 units.
Traversing from being just vehicle manufacturers to mobility solutions providers amid a raging debate over which eco-friendly technology must be incentivised, the Indian automobile industry is driving in the new year under the shadow of a slowdown in sales with the post-pandemic pent-up demand in distant memory. The shift in the auto industry -- where advanced technologies like autonomous driving, vehicle intelligence, connected features and electrification are quickly gaining traction -- will be reflected in the upcoming Bharat Mobility Global Expo in which India's flagship Auto Expo has been clubbed to be held from January 17-22, 2025 in Delhi-NCR.
The struggling Indian automobile industry on Monday reported yet another worst ever performance with overall domestic sales declining by 18.2 per cent in December 2008, as commercial vehicles and two-wheelers sales crashed heavily.
Industry insiders in India warn that any such move in the pharmaceutical sector could be counterproductive for the US as it may face increased drug shortages if tariffs are imposed on such imports.
Bucking a trend of two consecutive months of drop in sales, passenger cars sales in the domestic market witnessed a 14.8 per cent jump in August 2005 at 72,165 units against 62,845 units in August last year.
India's three-wheeler exports, which have been on a downhill trajectory over the past few years, are showing no signs of recovery in FY25, with key markets like Sri Lanka, Bangladesh, Nigeria, and Egypt witnessing subdued demand. In May, the country's exports plummeted 11.3 per cent year-on-year (Y-o-Y).
The total vehicle sales in the domestic market stood at 5,97,622 units in December last year as against 7,30,603 units in the same month in 2007, according to the Society of Indian Automobile Manufacturers.
With much sadness, so many of us woke up to the news that Vikram Kirloskar, vice-chairperson of Toyota Kirloskar Motor, had passed away late Tuesday. As I reminisce on the nearly 40 years I have known him, I can unequivocally say that he had such a rare and deep understanding and passion for automotive manufacturing that it would make Toyota, which pioneered the Toyota Way, proud. Many of us know Vikram as the man who brought the iconic Japanese carmaker Toyota to India. But few know the back story and hard work that went into creating a system of manufacturing that was everything Toyota could have hoped for and then some more because it was perfectly calibrated for manufacturing in India.
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.
The eighth Auto Expo kicks off on Thursday promising new launches and big announcements by domestic and global automobile giants, even as the booming industry sought flexibility in labour laws to maintain the growth momentum.
Under the policy, which is applicable for all manufacturers, from two-wheelers to commercial vehicles, if a company is of the opinion that there is a manufacturing defect that compromises safety of vehicles, it will voluntarily rectify the problem free of cost to the customer.
Domestic passenger vehicle dispatches witnessed a 13 per cent year-on-year rise in April as demand remained robust across segments, industry body Siam said on Friday. The total passenger vehicle dispatches from companies to dealers rose to 331,278 units last month compared to 293,303 units in April 2022. Market leader Maruti Suzuki India dispatched 137,320 units to dealers last month against 121,995 units in April last year.
Passenger vehicle wholesales in the country declined by 19 pc in November as the semiconductor shortage continued to impact vehicle production and subsequent deliveries to dealer partners, auto industry body SIAM said on Friday. The passenger vehicle (PV) dispatches last month stood at 215,626 units, down 19 per cent from 264,898 units in November 2020. Similarly, total two-wheeler sales declined sharply by 34 per cent to 10,50,616 units last month from 16,00,379 units in the year-ago period.
The key rate cut by RBI is too little to have any major positive impact on demand for automobiles but it is still a move in the right direction, according to the industry players.
The move is to avoid a clash with the Detroit Auto Show and unavailability of Pragati Maidan.
The new scheme, promoting manufacturing of electric vehicles (EVs) by global majors, will give a fillip to companies like Tesla and its upstart rival Vinfast, both of whom have lobbied for lower import duties from the Centre. While Vinfast has already announced an investment of Rs 4,000 crore to set up an electric vehicle (EV) plant in Tamil Nadu, Tesla's next move will be watched carefully. Four years ago, Musk announced that his company would come to India.
Rapid growth in the automobile industry has seen the market share of fake spare parts more than treble from 12 per cent to as much as 37 to 47 per cent in the past seven years.
From an average of about 1,800 units a month in 2010-11, Fiat sales dropped to about 900 units a month in the first four months of this financial year, according to data from the Society of Indian Automobile Manufacturers.
Small cars account for 80 per cent of the domestic market and exports are growing at a fast pace.
Car sales in India fell for a record seventh consecutive month in May with a decline of 12.26 per cent, prompting industry body SIAM to caution that the prolonged slump in the market could result in job losses in the automobile sector.
Union Minister Nitin Gadkari on Tuesday launched the country's first crash testing programme Bharat NCAP aimed at improving road safety standards of motor vehicles up to 3.5 tonnes. Bharat New Car Assessment Programme (Bharat NCAP) is India's own crash testing programme and is cheaper than tests conducted abroad, Gadkari said, adding that the star ratings will help buyers understand the quality of the product and make an informed purchase decision. Bharat NCAP will be implemented from October 1, 2023.
According to the data released by the Society of Indian Automobile Manufacturers on Monday, motorcycle sales last month went up marginally to 8,67,518 units from 8,67,088 units in November, 2011.
As India is progressing towards Bharat Stage IV (BSIV) emission norms, most cars still run under BSIII standard.
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