'Two would be premium products and three would be mainstream products.'
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.
Major automobile manufacturers like Maruti Suzuki, Hyundai, Mahindra & Mahindra, Tata Motors and Toyota Kirloskar on Tuesday reported decline in domestic passenger vehicle sales in May compared to the previous month as a spike in COVID-19 cases and lockdowns across various states hit production and dispatches. The country's largest carmaker Maruti Suzuki India (MSI), which shut production from May 1 to May 16 so as to divert oxygen from industrial use for medical purposes, reported domestic dispatches to dealers at 35,293 units last month, down 75 per cent from 142,454 units in April. The company said sales of its mini cars, comprising Alto and S-Presso, declined by 81 per cent to 4,760 units in May as against 25,041 units in April this year.
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.
While Mercedes-Benz India expects 25 per cent of its India sales to come from EVs in the next four years, BMW says it estimates around 10 per cent of sales to come from those in the near future.
On a surprise visit to Beijing amid speculation that he may unveil Tesla's autonomous driving technology in the burgeoning electric vehicle (EV) market in China, billionaire Elon Musk on Sunday met Chinese Premier Li Qiang and discussed future expansion plans for his automobile.
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.
Automobile companies have reported the highest ever monthly sales in India.
Passenger vehicle wholesales in India increased by 11.14 per cent to 2,76,554 units last month as compared with same month last year amid supply chain challenges, unavailability of semiconductors and higher container charges, auto industry body SIAM said on Thursday.
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.
Mahindra is coming up with the Thar Roxx. MG Motor India announced a third electric vehicle Windsor. Hyundai and Kia are expected to introduce updated versions of the Alcazar and Carnival respectively.
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.
HMSI is likely to announce a tie-up with Snapdeal for online two-wheeler sales next month.
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.
A nationwide and compulsory switch to BS-VI is due from April 1, 2020. Amid increase in input and other costs, companies had decided to increase the price of their vehicles from January 2020. This is expected to push sales of passenger vehicles by 2 to 4 per cent in December; reportedly, bookings are in that range.
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.
According to the data released by the Society of Indian Automobile Manufacturers, motorcycle sales last month went up by 6.71 per cent to 9,36,122 units from 8,77,270 units in the same month previous year.
'Nearly all companies are extending festival offers for entry-level, sedan, and hatchback segments.'
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.
At the end of May, out of 26,500 outlets about 60 per cent showrooms and 80 per cent workshops were operational across the country.
Fortunately the concept is changing, and more and more car makers are now also concentrating on providing ample safety features to woo prospective buyers.
The K-shaped economic recovery in India from the pandemic slowdown shows in corporate results as well. The automobile sector, which represents big-ticket consumption, continues to do well and has increased its share in corporate revenues and profits while fast-moving consumer goods (FMCG) companies that sell low-ticket consumer goods are struggling with poor sales and earnings growth. The share of the automobile sector, including makers of auto ancillaries, in corporate net sales rose to a 10-quarter high of 10.05 per cent during July-September 2023 (Q2FY24) from 8.94 per cent a year earlier and 9.75 per cent in Q1FY24.
Dealers say that the full-year outlook remains negative with a projected contraction in retail sales of 15-35 per cent across segments, save tractors, which look set to clock a positive annual growth.
Sales of commercial vehicles were up 12.73%.
The steel sector, which has spent a lot of money to tap the automobile segment, is nervous on its investments.
The local arm of the Japanese two-wheeler manufacturer accounts for every second scooter sold in India.
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.
Automobile sector saw a huge spurt in sales in September as per figures that poured in on Friday.
According to the figures released by the Society of Indian Automobile Manufacturers, motorcycle sales in the country during the month was down by 17.68 per cent at 4,25,089 units, against 5,16,410 units a year ago. Commercial vehicle sales during the month increased by 1.69 per cent to 45,059 units from 44,308 units for the year-ago period, SIAM said.
Automobile companies are all smiles prior to Diwali, the festival of lights with almost all of them registering a healthy growth in sales.
Sales of commercial vehicles were up 7.58 per cent to 52,198 units in August, SIAM said.
Weak monsoon rains could have a negative impact on India's automobile sector which is seeing early signs of improvement with the sale of passenger cars and utility vehicles rising in May.
According to the figures released by the Society of Indian Automobile Manufacturers, motorcycle sales in the country during the month was up by 7.39 per cent at 5,13,209 units, against 4,77,901 units a year ago. Total two-wheeler sales in May went up by 6.99 per cent at 6,47,358 units, compared to 6,05,014 units in the same month last year.
Passenger vehicle wholesales in India rose by 14.16 per cent in August to 2,15,916 units, driven by pent-up demand, industry body SIAM said on Friday. According to the latest data by the Society of Indian Automobile Manufacturers, passenger vehicle wholesales stood at 1,89,129 units in the same month last year.
The growth in the PV segment was primarily led by car market leader, Maruti Suzuki India, which saw its dispatches to dealers grow 4.4 per cent YoY to 144,277 units after 10 months of drop. It was driven by new launches, such as the S-Presso, a mini sport UV.
Passenger vehicle wholesales in India increased by 12.73 per cent to 285,367 units in November as against 253,139 units in the same month last year riding on the back of festive demand, auto industry body SIAM said on Friday. According to the latest data by the Society of Indian Automobile Manufacturers (SIAM), two-wheeler sales rose 13.43 per cent to 16,00,379 units, compared with 14,10,939 units in the same month last year.
Two-wheeler sales were down 15.24 per cent in July to 12,81,354 units as compared with 15,11,717 units in the same month last year.
Total two-wheeler sales in June rose 3.55 per cent to 13,07,710 units.
Despite the surge in automobile sales in recent months and new vehicle development programmes of car makers, auto component makers are wary of committing further investments in building new capacities. They have adopted a wait-and-watch attitude to see if the demand sustains.
With mobile phones and laptops boasting of embedded maps and GPS features, one would think that personal navigation devices (PND) would make a graceful exit from the market.
