Toyota will be hiring as many as 1,600 contract employees in the coming months, indicating that the auto sector is slowly recovering.
Sales of commercial vehicles were down by 13 per cent to 62,786 units from 72,166 units in the same period in 2011, Society of Indian Automobile Manufacturers said.
Commercial vehicles however declined by 2.83%
'Bilateral trade has suffered seriously because of the growing unrest.' 'There is a standstill on both sides amid the curfew.'
Domestic passenger car sales jumped by 39.48 per cent to 1,43,976 units in April. The figure for the corresponding month of the last year was 1,03,227 units.
Tata Motors, Mahindra & Mahindra and Kia India on the other hand witnessed an increase in their market share based on the retail sales last fiscal. As per the Federation of Automobile Dealers Associations (FADA), the retail sales of country's largest carmaker Maruti Suzuki India rose to 14,79,221 units in 2022-23 fiscal, attaining a market share of 40.86 per cent. It had retailed 12,39,688 units in 2021-22 and grabbed a market share of 42.13 per cent.
When it comes to electric cars, the electric dream is turning out to be a six-letter word starting with f, ending with y, and having antas in between, notes Suveen Sinha.
In fact, we expect the first half of 2010 to be at least as challenging as the first six months of 2009, says Kishor Patil, MD & CEO, KPIT Cummins Infosystems.
Buoyed by the booming markets of India and China, global auto sales is expected to grow 4.3 per cent this year to 66.1 million units, a South Korean automobile research body said on Tuesday.
With Onam and Raksha Bandhan just around the corner, the festival season is ready to kick off in full swing. As people embrace the celebratory spirit, companies anticipate a surge in sales this year. Consumer durables firms are expecting strong growth of 40-50 per cent in the premium segment during the upcoming season. Appliance makers also foresee increased demand for cooling appliances - refrigerators and air conditioners - which were impacted by unseasonal rainfall.
Prices of two-wheelers, passenger and commercial vehicles are set to rise 15-25%
The BS-IV emission norms will come into force from April 1, 2017.
Data issued by Siam shows sale of PVs (cars, vans and utility vehicles) grew 14.3 per cent to 275,417 vehicles.
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.
Domestic car sales declined 157,536 units in September 2012 compared to 166,464 units in the same month last year.
Corporate earnings got a big boost from the fall in commodity and energy prices in July-September 2023 (Q2FY24) despite a slowdown in revenue growth during the quarter. The combined net profits of 3,123 firms that have declared their results so far were up 38 per cent year-on-year (Y-o-Y) to Rs 3.07 trillion in Q2FY24, up from Rs 2.24 trillion a year ago. Earnings were, however, down 3.5 per cent on a sequential basis from Rs 3.18 trillion in April-June (Q1) FY24.
'Barring a temporary blip where stocks fell on verdict day, we are back to all-time highs.'
At a time when new car sales are witnessing record decline in India, pre-owned vehicles are likely to witness 10 per cent growth in sales to touch 4.4 million units in 2019 with millennials emerging as major buyers, according to a report by consumer-to-consumer marketplace OLX.
Seven manufacturers together post a 15% decli#8800 M&M, Ford and Honda buck trend.
High net worth individuals in their mid-40s were the majority of customers opting to purchase the British luxury automobile maker Rolls-Royce's range of cars in India, a company official said. Rolls-Royce Motor Cars on Tuesday launched its latest all-electric - Spectre - priced at a whopping Rs 10 crore (ex-showroom), in Chennai. A 'Chartreuse' (greenish-yellow) colour variant of the Spectre rolled out of the podium at an event marking the formal launch of the brand in the South Indian market showcased for aspiring customers and dealers.
Scooters, once the fastest growing sub-segment, also declined for the second consecutive month in September.
Sales of commercial vehicles were down by 24 per cent to 43,080 units in April, SIAM said.
The Enforcement Directorate on Tuesday conducted raids against Hero Motocorp executive chairperson Pawan Munjal and others as part of a money laundering investigation, official sources said. The searches were carried out at premises located in Delhi and neighbouring Gurugram in accordance with provisions of the Prevention of Money Laundering Act (PMLA).
Firms are enthused at passenger vehicle numbers but high interest rates a problem.
Expanding investigation into allegedly wrongful claims of input tax credit by insurance companies, the tax authorities are probing a section of automobile dealers who have supposedly generated fake invoices without providing any service, which is a punishable offence under goods and services tax (GST) law. The authorities are learnt to have questioned the car dealers to explain the services they provided general insurance companies. The investigators suspect car dealers pitched for insurance schemes that give them commissions in excess of those insurance regulations permit.
The BSA Gold Star is launched....Ola Enters e-motorbikes Biz... Bajaj, TVS To Enter e2Ws Market...
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.
Total sale of vehicles across categories registered a growth of 13.22 per cent to 16,98,138 units in May 2014 as against 14,99,893 units in the same month a year ago, it added.
Mopeds are sought by people with smaller businesses, with their weight-carrying and haulage ability beside being lighter and easy to manoeuvre in traffic.
IT major Wipro's promoter Azim Premji is investing Rs 80 crore (Rs 800 million) to acquire a significant minority stake in a company floated by Jagdish Khattar, former managing director of Maruti Suzuki India who has recently turned entrepreneur.
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.
A recent Outlook Money report stated that in the first two quarters of the current fiscal year, Indian companies successfully cut down costs. As a result, they managed to grow net profits. This positive change got reflected directly in the automobile sector with most of the auto majors registering positive sales figures in February.
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.
Domestic passenger car sales declined by 9 per cent to 1,39,632 units in June this year from 1,53,450 units in the same month of 2012.
The new scheme, promoting manufacturing of electric vehicles (EVs) by global majors, will give a fillip to companies like Tesla and its upstart rival Vinfast, both of whom have lobbied for lower import duties from the Centre. While Vinfast has already announced an investment of Rs 4,000 crore to set up an electric vehicle (EV) plant in Tamil Nadu, Tesla's next move will be watched carefully. Four years ago, Musk announced that his company would come to India.
The overall volume at India's top four M&HCV makers - Tata Motors, Ashok Leyland, Volvo Eicher, and Mahindra & Mahindra - fell 59.5 per cent to 31,067 units during the month.
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.
Even as the government debates whether to continue the FAME-II subsidy for electric vehicles (EVs), the share of such vehicles in overall sales is decelerating, after witnessing a heady growth in the first few years. The penetration of EVs - electric two-wheelers, passenger vehicles, three- wheelers and other segments collectively - in the first 10 months of FY24 has been pegged at 4.3 per cent, compared to 3.7 per cent in FY23, according to credit rating agency ICRA.
The total two-wheeler sales in June rose 12.99 per cent to 12,61,589 units.
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.
