Leading automakers Maruti Suzuki, Hyundai and Tata Motors on Thursday reported robust sales in March as a shift towards personal mobility and pent up demand continued to help companies push dispatches to their respective retail partners. Toyota Kirloskar Motor, Honda Cars and Mahindra and Mahindra (M&M) also reported strong sales last month as compared to the year-ago period, when dispatches were adversely impacted due to the impending transition to BSVI from April 2020 and the nationwide lockdown to contain the coronavirus pandemic. The country's largest carmaker Maruti Suzuki India said its domestic sales stood at 1,49,518 units last month. The auto major had reported sales of 76,976 units in March 2020.
Passenger vehicle wholesales in India increased by 17 per cent in the second quarter of the current fiscal year as buying sentiment improved and companies stocked up to cater to enhanced demand in the festive season, auto industry body SIAM said on Friday. According to the latest data by the Society of Indian Automobile Manufacturers (SIAM), passenger vehicles sales in the July-September quarter increased to 726,232 units from 620,620 units in the same period last year. Similarly, two-wheeler sales during the September quarter this fiscal rose marginally to 46,90,565 units as compared with 46,82,571 units in the same period last fiscal. However, commercial vehicles sales saw a dip of 20.13 per cent at 133,524 units in the quarter under review as compared with 167,173 units in July-September 2019.
The auto industry has had a mixed month. The build up to Dhanteras and Diwali was good but the demand tapered off subsequently.
Broader markets underperformed indices with BSE Midcap down 0.43% while the Smallcap index fell 0.07%.
For a change, glamour goes rural as exhibitors glam up their products meant for India's villages.
India has a history of jugaad, and retrofitting vehicles is one such manifestation of the legendary Indian skill. Not so long ago autorickshaws and small Marutis used to strap on subsidised LPG cylinders and power themselves to a cheap ride. There were the odd explosions, lives were lost, but the jugaad continued. Then compressed natural gas (CNG) was introduced in Delhi following a court order. Initially, customised CNG kits were fitted to conventional (internal combustion engine or ICE) autos cheaply, enabling commuting at less than half of what you would cough up for diesel. The industry is better organised now with Suzuki and Hyundai designing CNG-fired vehicles, and Mahindra and TVS manufacturing liquefied petroleum gas (LPG)-powered three wheelers.
EV players suggest a reduction in the goods and services tax on batteries from 18 to 5 per cent as it would help push demand.
In a bid to strengthen their bilateral economic ties, India and Indonesia plan to explore opportunities for co-operation in oil and gas, and railway sectors, among other areas.
The challenges of transition to stricter emission norm BS-VI from BS-IV and compliance to new safety norms thereby making vehicles costlier are lurking around the sector.
A series of flip-flop on policies and a non-existent charging infrastructure are the biggest challenge in achieving the target of selling 6-7 million hybrid and electric vehicles by 2020.
The Sensex closed the day at 28,141, up 486 points, while Nifty50 settled at 8,716, up 155 points.
With an m-cap of Rs 31,744 crore, IRCTC stood at 96th position in the overall market capitalisation ranking, the BSE data shows.
This year, both rural and urban markets have reported around 18 per cent fall in the first quarter. However, most auto majors expect that by January, there would be a pick up.
A team of more than 60 people under Neeraj Mittal, an IAS officer, was instrumental in getting up the New Industrial Policy 2021 targeting investments of around Rs 10 trillion by 2025.
The industry needs stimuli to help revive consumer demand and conversions.
The list of companies skipping dividends in FY19 includes some of the country's largest firms and industry leaders such Tata Motors, Avenue Supermart, Future Retail and Vodafone Idea, among others.
Maruti Suzuki, Tata Motors and Hyundai stand to gain the maximum, given their large portfolio of products in the sub-4 meter segment.
Maruti's sales of the compact segment comprising Swift, Estilo, Ritz, Dzire and Baleno went up by 9.9% to 45,579 units
MS Dhoni all set for new innings.
The 150cc bike segment in the country is witnessing commendable growth every passing day.
After the latest spike in crude oil prices, petrol prices could potentially go up to around Rs 90 a litre making a dent in the consumer's wallet. This, the analysts fear, will push the cost of vehicle ownership in the country, further reducing the demand potential for the industry.
This is the first decline since June this year when car sales declined by 11%.
Maruti Suzuki, Hyundai, Mahindra and Toyota reported low single-digit sales growth for the month owing to weak market sentiment
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.
The increase in PV sales in September was driven by festive season purchases, with SUV models like Maruti Suzuki's Brezza, Hyundai Creta, Mahindra Scorpio, Ford Ecosport and Honda W-RV witnessing good traction
IT sector replaces auto sector after a 6-month gap.
Take out Maruti Suzuki and Honda, and the auto sector's prospects suddenly don't look all that rosy.
RIL subsidiary Reliance New Energy Solar, Ola Electric, Hyundai Global Motors Company and Rajesh Exports have been approved for receiving incentives under the Rs 18,100 crore Production Linked Incentive (PLI) scheme for battery manufacturing in India, sources said on Thursday. "The ministry had received bids from 10 companies with a capacity of 130 GWh. Reliance, Ola Electric, Hyundai and Rajesh Exports have qualified for ACC batteries," a source said. Other companies which had applied for the PLI scheme for Advanced Chemistry Cell (ACC) batteries were Lucas-TVS, Mahindra & Mahindra, Amara Raja Batteries, Exide Industries, Larsen & Toubro and India Power Corporation Limited.
Domestic passenger vehicle sales declined 0.84 per cent to 2,63,773 units in November from 2,66,000 units in the year-ago period. Motorcycle sales, too, declined 14.87 per cent to 8,93,538 units. Vehicle sales across categories registered a decline of 12.05 per cent to 17,92,415 units from 20,38,007 units in November 2018.
Hero MotoCorp, Honda Motorcycles, Scooters India, TVS, Honda India, Toyota Kirloskar Motor, Ford, Nissan, Ashok Leyland are all giving the Auto Expo a miss this time.
India's equity markets are on a roller-coaster ride, after delivering spectacular returns for two consecutive years - in 2020 and 2021. The benchmark National Stock Exchange's (NSE's) Nifty50 is down 1.5 per cent in the first nine months of the current calendar year 2022 (CY22) as foreign portfolio investors sold Indian stocks due to rising bond yields in the US and across global markets, including India. The sell-off in the Indian equity markets has, however, not been broad-based and largely limited to sectors facing earnings headwinds from rising interest rates, lower commodity and energy prices, and likely economic recession in advanced economies.
In September, sales of 125cc models - that include the Hero Glamour, Splendor, Pulsar 125, Victor Star City, among others - grew by a whopping 30 per cent over the same period a year ago to 305,615 units.
Market breadth turned negative with 1,779 declines over 884 advances on the BSE
As competition hots up, more and more scooter manufacturers are turning their attention to the female buyers. Here are five scooters that are getting the desired attention.
The breadth, indicating the overall health of the market, turned negative. On the BSE, 1,581 shares declined and 1,246 shares fell. A total of 165 shares were unchanged.
These bikes are a good mixture of style, mileage, performance and affordability, says Rajesh Alva.
Many are testing hybrid models including getting small batches to work, rotating staff every week, introducing shifts and allowing certain functions to operate from office in small numbers.
As a 75-year-old septuagenarian, Bajaj Auto has adapted itself as a nod to competition, regulations, and changing buyer preference. It will continue to do so, said its managing director Rajiv Bajaj at the launch of the all-new Pulsar 250. This was in response to a question on the company's preparedness for disruption by electric two-wheeler start-ups.
The S&P BSE Sensex ended up 129 points at 26,843 and the Nifty50 ended up 39 points at 8,220.
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