Seven manufacturers together post a 15% decli#8800 M&M, Ford and Honda buck trend.
While sales of compact cars, including models such as Swift, Celerio, Ignis, Baleno and Dzire declined, sales of utility vehicles, including Vitara Brezza, S-Cross and Ertiga, increased 26.3 per cent to 19,177 units as compared to 15,178 in the year-ago month.
The country's largest carmaker Maruti Suzuki India (MSI) on Monday reported a 11.8 per cent increase in wholesales to 164,469 units in February. The company had sold 147,110 units in February last year, Maruti Suzuki India (MSI) said in a statement. Domestic sales increased 11.8 per cent to 1,52,983 units last month, as against 1,36,849 units in February 2020, it added.
Earlier in May, Ford India announced that it had dropped its plans to make electric vehicles (EVs) in India, which it intended to export, under the production-linked incentive scheme (PLI). Ford was among 20 companies that had signed a Champion OEM Incentive Scheme under the PLI project with the government in February this year. The decision comes as a blow for the 4,000-odd employees at Ford India's Maraimalai Nagar plant near Chennai and in Sanand, Gujarat. In September last year, the company had announced that it would exit the India market, which it had entered in 1995 through an on-again, off-again joint venture with Mahindra & Mahindra (they split in 1998, signed a JV in 2019 and split again in December 2020), retailing petrol and diesel brands such as the EcoSport, Figo, Aspire, and Endeavour.
Maruti, Hyundai, Tata Motors, Mahindra & Mahindra and Honda saw their passenger vehicle sales improve in August compared to the same month last year, although Ford and Toyota witnessed a decline.
For players like Toyota Kirloskar and Ford, the contribution of UVs to overall sales is now well over 60%.
A clutch of automakers including Maruti Suzuki, Hero MotoCorp, Mercedes Benz India, Eicher Motors, TVS Motor, and Isuzu Motors India announced they had got the clearance from the governments of the states they operate in to resume operations.
The country's top carmaker Maruti Suzuki India (MSI) on Wednesday said it has decided to advance maintenance shutdown at its two Haryana-based manufacturing plants by a month amid a surge in the COVID-19 cases across the country. The auto major was supposed to take the shutdown at its two plants in Gurugram and Manesar in June, but due to the tsunami of COVID-19 cases, it decided to take it one month earlier to save oxygen for medical needs. MSI noted that as part of the car manufacturing process, it uses a small amount of oxygen in its factories, while relatively much larger quantities are used by the manufacturers of components.
Your plans to bring home a dream vehicle may just have become a little more distant, with automobile manufacturers considering price increases to offset the impact of higher excise duty levied in the Union Budget.
Maruti Suzuki, Hyundai, Mahindra and Toyota reported low single-digit sales growth for the month owing to weak market sentiment
High ground clearance, a wide cabin and tall stance all mean that the Carens glides over bad roads with ease and comfort and an engine performance that is adequate in terms of the power of this vehicle, says Pavan Lall.
Primary steel producers in the domestic market have raised product prices by 2.5 to 3 per cent for December to address margin compression and in anticipation of a demand pick-up.
Tata is expected to price Aria somewhere between Toyota Innova and Ford Endeavour.
Close to half a dozen more three-row premium mid-size models are expected to hit the road over the next two years.
Burgeoning demand for spacious people movers in India has led Ashok Leyland, a medium and heavy truck builder, to plan on developing a utility vehicle to take on the likes of Toyota Innova, India's largest selling multi-seater personal vehicle.
Market leaders saw good traction for new cars, including the electric ones.
Hit by the depreciating rupee, auto companies, including General Motors India and Toyota Kirloskar Motor, are mulling hike in prices to offset the rising cost of component imports.
Cumulative sales of India's top passenger vehicle makers -- Maruti Suzuki, Mahindra and Mahindra, Tata Motors, Honda Cars, and Toyota Kirloskar -- increased to 206,418 units in February over 200,322 units in the same month last year, an increase of 3 per cent.
Car sales likely to touch record 3-mn mark by the end of March.
We are upbeat on the opportunities in India, says Vikram Kirloskar.
'The promises of netas and babus and new laws, however well-meaning, mean little.' 'What matters is implementation on the ground.' 'Every law is finally implemented by a vast army of offici
While hybrids, CNG and biofuels found favour in 2018 among many carmakers including Maruti Suzuki, Mercedes-Benz, Toyota and Honda, others such as M&M and Tata Motors have shown full faith in electric vehicles.
Move to be aimed at reducing subsidies on the fuel.
Indian and international brands are now all focused on small cars.
The auto industry has had a mixed month. The build up to Dhanteras and Diwali was good but the demand tapered off subsequently.
Firms are enthused at passenger vehicle numbers but high interest rates a problem.
The car would be in direct competition with existing players, including Ford Endeavour, Maruti Grand Vitara, Toyota Innova, Honda CR-V, Chevrolet Captiva, Toyota Fortuner and upcoming Skoda Yeti.
December car sales data was a mixed bag. While some reported growth in sales other saw a dip. This probably can be because customers are waiting for a rate cut from RBI.
Maruti Suzuki, riding on the success of models like Swift, Estillo and Dzire, posted a growth of 3.4 per cent over the same period in the previous fiscal.
Automobile manufacturers are offering freebies, ranging from gold coins and LED televisions to record discounts, to push petrol vehicle sales.
HUL, UltraTech, Asian Paints, L&T, HDFC Bank top global valuation charts
Toyota Kirloskar Motor on Wednesday signed leading Bollywood actor Aamir Khan as brand ambassador to promote its utility vehicle Innova in India.
Sun Pharma was the top gainer after SPARC received Sebi nod to raise up to Rs.250 crore through a rights issue
Dealers have stocked up vehicles in the run-up to a price hike, which is expected to be announced by leading players some time this month.
The trend is expected to gain momentum as global vehicle makers in India, particularly from Japan, ride on hybrids to meet the more stringent fuel efficiency norms that take effect in 2022.
Behind the scenes, sponsors who have pumped billions of dollars into the Tokyo Olympics have grown increasingly nervous about how the coronavirus outbreak will impact the tournament.
While Tata Motors will stop production of commercial vehicles at Pune for three days this week, Maruti Suzuki India will be having its week-long annual maintenance shut down from next week.
Maruti has announced it will phase out diesel variants from April 1, 2020, when stringent BS VI norms take effect
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