Sluggish urban demand, a high base effect, and weak sales of hatchbacks and sedans weigh down passenger vehicle sales in FY25.
Ruural markets contribute a significant chunk of SUV sales and there was a slowdown in demand from semi-urban and rural areas.
Car purchases in India are largely limited to the top 12 per cent of households with an annual income exceeding Rs 12 lakh, while even small cars have become unaffordable for the remaining 88 per cent, said R C Bhargava, chairman of Maruti Suzuki India Limited (MSIL), on Friday. "How can you get high car sales growth if 88 per cent of the country are below the levels of income where they cannot afford these cars costing Rs 10 lakhs and above?
According to experts, even if an additional 5 per cent of people opt to buy new vehicles, it may bring a huge boost to the sector.
General Motors India on Wednesday launched its premier sports utility vehicle, Chevrolet Captiva, priced at Rs 17.74 lakh (Rs 1.774 million) -- ex-showroom Delhi.
Maruti Suzuki India Ltd (MSIL), the largest passenger vehicle manufacturer in India, has set a road map to expand its global presence by targeting exports of 800,000 units by the end of this decade -- almost double the approximately 280,000 units sent abroad in 2023-24, Rahul Bharti, executive director, corporate affairs, told Business Standard. The company's upcoming electric vehicle (EV) strategy is expected to play a crucial role in its global ambitions.
The first luxury car will be launched in the first quarter of 2025 and the company is planning to open 12 'MG Select' showrooms in the next six months.
The demand shift from compact cars to spacious multi-seaters and stylish sports utility vehicles has forced every car maker to fast track their blueprints for compact and mid-sized SUVs and MUVs.
Toyota Kirloskar Motor (TKM) has reported a consolidated net profit of Rs 4,787 crore for 2023-24 (FY24) - more than three times the earnings recorded the previous year. This growth can be attributed to robust demand for its vehicles, particularly hybrid models and cross-badged cars from the Toyota-Suzuki alliance.
The company will also check the reorienting wiring harness related to the correct deployment of side airbags in the recalled vehicles.
Passenger vehicle retail sales rose to a record high in January driven by robust demand for sports utility vehicles, dealers' body FADA said on Tuesday. Passenger vehicle (PV) sales rose to 3,93,250 units last month, registering a jump of 13 per cent from 3,47,086 units sold in January 2023. "SUV demand along with the introduction of new models, greater availability, effective marketing, consumer schemes and the auspicious wedding season underpinned this strong performance," Federation of Automobile Dealers Associations (FADA) president Manish Raj Singhania said in a statement.
'IndiGo's position in this argument will depend on whether it has registered '6e' as a trademark.'
EcoSport accounts for almost 40 per cent of the cumulative one million units sold by Ford in India till date, which is a reason why more than half of its future launches could be SUVs.
Amid better semiconductor chip supplies, the Indian automotive industry posted an 8 percent growth in production of vehicles across categories for the month of May, with three-wheelers (20 per cent) and passenger vehicles (16 per cent) leading the pack. Exports, however, dipped 21 per cent at an industry level. The industry also recorded its highest-ever May wholesales of domestic passenger vehicles (334,802 units), riding on high demand for sport utility vehicles (SUVs) and better supplies of semiconductor chips.
Police investigating cause of crash.
Auto majors report positive sales figs for November.
The Mumbai-based company is simultaneously working on concepts such as full hybrids, battery-powered powertrains, bio-diesel, fuel-cells and hydrogen-powered engines. Some of these vehicles will be ready for launch by 2015, according to the company whose 99 per cent of products are driven by diesel engines today.
After a successful tie up in traditional ICE and strong hybrid models, Suzuki and Toyota are now set to take their partnership to the next level: the electric vehicle segment. Both the Japanese auto giants recently announced a plan to produce Suzuki eVX-based SUV which will be sold under Toyota brand across the globe. This electric SUV, bearing Toyota's logo, will go for production at Suzuki Motor Group (SMG) facility in Hansalpur, Gujarat beginning the spring of 2025, marking the first EV launch for both companies in India.
Automotive (auto) major Tata Motors posted a 51 per cent drop in consolidated net profit for the January-March quarter (Q4) of 2024-25 (FY25), to Rs 8,470 crore, due to a deferred tax asset of almost Rs 9,000 crore in the corresponding quarter of the previous financial year and an exceptional item of Rs 566 crore during the quarter. Revenue was up just 0.5 per cent year-on-year (Y-o-Y) at Rs 1.18 trillion for Q4FY25.
MSIL, which currently has a subscription service that allows customers to lease its petrol-run and strong hybrid vehicles on a flexible, long-term basis without ownership commitments, will introduce a leasing service as well.
The Supreme Court has sought a report from the Uttar Pradesh Police regarding allegations that Ashish Mishra, son of Union Minister Ajay Mishra, influenced witnesses in the Lakhimpur Kheri violence case. The court directed the Lakhimpur Kheri superintendent of police to file the report after a complaint was made by advocate Prashant Bhushan, representing the complainants. Bhushan claimed to have an audio recording of an attempt to influence witnesses and alleged that Mishra attended a public meeting in violation of his bail conditions. Mishra, through his lawyer, denied the allegations and stated that he was being targeted unnecessarily. The court has also asked for the authenticity of the material presented to be verified.
However, the company has not provided a timeline for the launch of the small electric car.
Global automobile majors are looking to leverage India's cost-competitive manufacturing practices and turn the country into an export hub for utility vehicles.
'The favourable rupee-dollar exchange rate, there are opportunities we can tap.'
GM India has asked customers facing problems with their remote keyless entry accessory to go to their Chevrolet dealer.
The accident occurred near Vesma village around 3.20 am when the bus was going towards Valsad, while the SUV was coming from the opposite direction, Navsari Superintendent of Police (SP) Rushikesh Upadhyay said.
Mahindra & Mahindra, the country's biggest utility vehicle maker, is re-considering plans to sell French carmaker Renault's vehicles through its own distribution network after pulling out of a joint venture agreement in January.
Risks emerging from the US have left automotive investors worried. US President Donald Trump has announced 25 per cent tariffs on automotive imports, while global electric carmaker Tesla has taken its first steps towards entering India. While these developments are sentimentally negative for related stocks, it may be too early to conclude the eventual impact, analysts said.
Best cars selected by enthusiasts and owners across 10 different categories.
The company currently sells various vehicle brands in the country ranging from hatchback Spark to sports utility vehicle Captiva, priced between Rs 333,000 and Rs 25.71 lakh (Rs 2.57 million), respectivley, (ex-showroom Delhi).
The 11th edition of the exhibition, one of the largest in the world in terms of participants, will kick-start on January 7.
So, let's take a look at the 10 most popular SUVs and MUVs in the country, according to data assembled by Cardekho.com throughout the year.
Gateway has a contemporary look with all controls designed with ease of access and operation in mind. The Gateway is fitted with an alarm, immobiliser and offers keyless entry. It is powered by 2600 cc common rail diesel engine.
Luxury carmaker Lamborghini has announced that its hybrid super sports car, Revuelto, is sold out in India and globally for 2024. The strong demand for the Revuelto is driven by a growing number of new customers, including a 20 per cent increase in first-time buyers in India. Lamborghini is also evaluating the possibility of opening new dealerships in smaller towns in eastern and southern India within the next one to two years.
Even India's largest passenger carmaker in Maruti Suzuki best known for its hatches, sedans and vans, could not resist the temptation to announce its upcoming MPV.
The CBEC admitted the three models are known as sedans in trade, not as SUVs.
Utility vehicles maker, Mahindra and Mahindra (M&M), is considering reinstating the entire staff laid off by South Korean sports utility vehicle (SUV) manufacturer Ssangyong Motor Co in the next two to three years, according to M&M president (automotive and farm equipment sectors) Pawan Goenka.
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.
Premier Ltd, formerly Premier Automobiles Ltd, on Wednesday re-entered into the passenger car segment with the launch of a compact sport utility vehicle.
India's largest utility vehicle maker is also planning to take it own products to the Korean market next year, said Pawan Goenka, M&M president, automotive and farm equipment sector.
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