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.
Consumer goods firms and auto companies are witnessing an upturn in rural demand, which had been lagging for most of FY24. Expectations of a bumper rabi crop harvest have helped turn the tide. The Reserve Bank of India's (RBI's) Monetary Policy Committee kept the repo rate unchanged last week, noting that as rural demand catches up, consumption is expected to support economic growth in 2024-25.
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.
The government on Monday said the country's total vehicle export is likely to increase by up to 15 per cent in the current fiscal, as demand from Europe is expected to rise.
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.
Except for March, when BMW recorded unusually high sales, Mercedes sales were ahead in the other months.
At a time when global auto majors are struggling, carmakers in India have been able to expand their overseas presence with exports from the country registering whopping 57.04 per cent growth in the last fiscal.
The RBI on Thursday lowered the benchmark repurchase rate to 7.75 per cent from 8 per cent, the first reduction since May 2013.
According to figures released by the Society of Indian Automobile Manufacturers on Thursday, motorcycle sales in the country grew by 22.67 per cent to 8,69,070 units during the month from 7,08,476 units in the corresponding month last year.
All industry bodies including Confederation of Indian Industry and Federation of Indian Chamber of Commerce and Industry should work together in their efforts to contribute the country's economic growth, Anand Mahindra, managing director, Mahindra &
New participants included Chinese players such as Great Wall Motors and Haima Automobile along with Olectra.
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.
The Jazz, coming at a price range of Rs 6,98,000 to Rs 7,33,000 (ex-showroom Delhi), had witnessed stock pile up last month with retail sales not picking up.
The next edition of the country's leading automobile show, the Auto Expo, will be held from January 13-18 next year, having been cancelled this year due to the COVID-19 pandemic. The last edition of the biennial automobile show took place in February 2020 amid fears of the spread of the coronavirus across the world. It was supposed to take place in February this year at Greater Noida but was postponed due to the worsening COVID-19 situation.
Starting April this year, 11 cities across India, where the Bharat Stage III norms are currently in place, are supposed to upgrade to BS-IV and the rest of the country where BS-II norms are followed are to move towards BS-III norms.
Car sales rose 67 per cent in November, the highest since February 2004, and many in the industry haven't stopped partying since this number was announced by the Society of Indian Automobile Manufacturers.
The passenger car sales stood at 83,121 units in the same month last year. According to the data released by the Society of Indian Automobile Manufacturers on Tuesday, motorcycle sales were up 42.4 per cent at 6,14,274 units in November compared to 4,31,171 units in the same month a year ago.
Sales of commercial vehicles grew by 22.62 per cent to 64,248 units in the month under review from 52,394 units in the year-ago period, SIAM said.
Domestic passenger car sales declined by 4.36 per cent in August to 94,584 units from 98,893 units in the same month last year.
According to the figures released by the Society of Indian Automobile Manufacturers, motorcycle sales in the country during the month was up by 21.91 per cent at 4,57,178 units as against 3,75,004 units a year-ago. Total two-wheeler sales in July jumped by 19.47 per cent at 5,99,369 units compared to 5,01,691 units in the same month last year.
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.
According to the Society of India Automobile Manufacturers, passenger car exports stood at 33,506 units in July as against 27,364 units in the period a year ago. Motorcycle sales in the overseas countries was up by 5.18 per cent at 89,420 units compared with 85,017 units.
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.
Domestic passenger car sales continued to grow for the fourth consecutive month, with May sales registering a 2.48 per cent rise, but the trend may reverse soon unless there is more support from the government, says industry body SIAM.
Domestic car sales showed their upward trend for the third consecutive month with April sales registering 4.20 per cent growth after prolonged decline that started in the second half of 2008.
Toyota had announced a global recall of 65 lakh vehicles to rectify a power window glitch, which could lead to fire risk.
According to figures released by the Society of Indian Automobile Manufacturers on Wednesday, motorcycle sales in the country grew by 14.94 per cent during the month to 7,47,818 units from 6,50,633 units in the same month last year.
According to figures released by the Society of Indian Automobile Manufacturers, total vehicle sales in the country in October stood at 10,10,963 units against 10,17,611 units in the same month last year. Hit hard by rising interest rates sales growth, specially that of motorcycles remained negative, while that of cars managed to increase on the back of majors like Maruti Suzuki India General Motors India posting healthy numbers.
According to figures released by the Society of Indian Automobile Manufacturers on Tuesday, motorcycle sales grew 6.58 per cent during the month to 8,79,713 units from 8,25,388 units in the same month last year.
Motorcycle sales in the country during the month grew by 15.61 per cent.
Domestic passenger car sales in June grew by 16.36 per cent at 94,002 units as against 80,784 units in the same month a year ago.
Figures released by the Society of Indian Automobile Manufacturers on Thursday also show that motorcycle sales in the country grew by 6.54 per cent during the month to 8,61,602 units from 8,08,728 units in the same month last year.
Total two-wheeler sales in July increased 30.41 per cent to 938,514 units from 719,656 units in July 2009.
The Tatas sold over 14,466 Indica cars, which was slightly lower than the sales of 14,592 units of the Santro hatchback in January.
Since Hyundai has developed its 'small cars' based on the current definition of 4,000 mm, it could lose out on excise benefit if the length were to be altered to 3,800 mm as per the auto policy.
Car sales in the domestic market overcame sluggish demand in the inauspicious shradh period and grew a healthy 22.4 per cent in September this year at 94,734 units against 77,384 units in the same month last year.
According to figures released by the Society of Indian Automobile Manufacturers, motorcycle sales in the country during the month was down by 2.89 per cent at 5,40,553 units, against 5,56,612 units in the corresponding month of the previous year.
Total sale of vehicles across all categories increased 44.94 per cent to 11,14,157 units in January.
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