ICRA said on Monday that domestic car sales is likely to grow by eight per cent annually over the next three years to 838,000 units in 2006-07, which will be driven largely by the compact and mid-size segments.
While sedan sales have declined in the mass-market segment in recent years, demand remains strong for BMW sedans, which account for 45 per cent of its sales in India.
Domestic passenger car sales rose by 9.62 per cent to 1,77,604 units in July as against 1,62,022 units in the same month last year.
According to the figures released by the Society of Indian Automobile Manufacturers on Tuesday, motorcycle sales in the country during the month was up 25.94 per cent at 6,11,173 units from 4,85,270 units in the corresponding month a year ago.
'In the luxury car segment, the adoption of EVs is almost double compared to the mass market.'
New car launches in the past six months have driven sales growth despite a hike in vehicle financing. In April, new launches accounted for 17 per cent of over all sales.
The new cars which have been launched in the last six months include the Zen Estilo from Maruti, Hyundai Getz diesel, Spark from General Motors, Logan from Mahindra Nissan and Fiat Palio Stile.
Maruti Suzuki's inventory across its dealerships is a 100,000 vehicles at the end of any month. However, it was only 34,000 vehicles at the end of December 2016.
Sales of commercial vehicles were up 5.63 per cent to 56,032 units in June, SIAM said.
Any saving on the car loan EMI can translate into major savings.
There was no sale of premium sedan Kizashi during the month.
Passenger vehicle dispatches from companies to dealers increased 19 per cent year-on-year in November as demand remained robust post festive period, industry body SIAM said on Friday.
Maruti Suzuki posted a marginal increase in January and the likes of Hyundai, Ford and Mahindra & Mahindra reporting a single-digit growth.
Major Indian carmakers are preparing for sluggish domestic PV sales growth of just 1-2 per cent in FY26.
Car sales are likely to grow further in November.
Market leader Maruti registers a growth of 19% in 2007.
Luxury carmakers are shifting into high gear with a mix of product launches, personalised experiences and lifestyle-led engagement.
The Indian auto industry is thriving on the consumers' tendency to upgrade as a new study claims that nearly two-thirds of the new cars are purchased by people who had previously owned a car, while one fourth of them previously riding two-wheelers.
The effect of the subprime crisis that began to be felt around early 2007 hasn't affected domestic sales of super luxury cars priced between Rs 1 and 3 crore. Super luxury car manufacturers such as UK's Bentley grew by 20 per cent last year and expect to clock similar growth in the country this year.
Rising interest rates and anticipated launch of the Tata Nano has impacted the sales of entry level cars like the Maruti 800, and anlaysts expected the entry level market dynamics to change further post the Nano launch expected in the last quarter of the fiscal.
The company said sales in the compact segment comprising Swift, Estilo, Ritz declined by 1.2 per cent to 22,188 units in October this year as against 22,459 units in the same month in 2012.
Maruti Suzuki India plans to localise battery production and other critical components over the next few years as part of strengthening the overall EV ecosystem in the country. The company, which plans to launch its first electric vehicle - e VITARA in the domestic market next year, is looking to instill confidence in the buyers as it looks to strengthen the overall EV ecosystem.
Ahead of the international auto show that begins next Wednesday, the Indian auto industry continues to be buffeted with bad news. According to data released by leading automobile companies on Saturday, the industry's sales volumes in January fell about five per cent from those in the same month last year.
Gloomy macro-economic factors and negative sentiments continue to hit demand.
Says the automobile sector would grow double digit in Asia's third largest economy after financial year 2017-18.
The auto industry is on a roll with the sales of passenger cars showing robust growth in November this year as against the sales of last November.
Car sales are experiencing a challenging phase with around Rs 60,000 crore worth of inventory lying unsold with dealers.
Maruti Suzuki will introduce eight SUVs over the next five years taking its overall model range to 28 as it aims to regain 50 per cent market share in the domestic passenger vehicle segment, Suzuki Motor Corporation Representative Director and President Toshihiro Suzuki said on Wednesday.
India has managed high government debt-to-GDP, a slowing domestic revenue engine, lower household savings and a more hostile geopolitical environment separately in the past. But together, they threaten to undo the growth narrative on which today's optimism rests, warns Debashis Basu.
Car makers see a dip in demand from their biggest buyers, Ola and Uber. Demand from aggregators weakened for a number of reasons after a strong growth last year.
Mexico on Thursday imposed a tariff of up to 50 per cent on imports from its non-preferential trade partners, including India, a move that might hit New Delhi's annual $5.75 billion shipments to its third-largest car export market.
'Growth will definitely continue to come most from the sub-four-metre SUV segment, primarily because that is where the heart of economy and affordability is. Naturally, that will keep pushing the share of that segment (in overall PV sales) higher.'
77 per cent of all transactions in the January-March 2025 period took place digitally, indicating continued preference for online car purchases.
Hyundai Motor India Ltd, the country's second-largest car-maker, said on Thursday its volume sales in November rose 37 per cent to 9,847 cars from the year-ago period, boosted by demand for its flagship Santro compact.\n\n
After recording a fall in sales for two consecutive months, the car segment surprised experts with a marginal gain of 2.83 per cent by selling 108,823 units in a relatively slack month of September, which is when buyers generally postpone their purchase to the festive period.
The new financial year started on a mixed note for car makers.
The company had sold 4,758 units in the same month last year.
The company said that while the first quarter numbers were at the pre-pandemic levels, it saw a growth of 34 per cent in sales compared to the April to June period of 2020.
India's new passenger car sales are likely to grow at a compounded 9.5 per cent to cross the 900,000-mark in the year to March 2007 due to rising incomes and cheaper finance, a research report said.
Companies with "gas guzzlers" are trying to set up the wrong narrative against small cars getting relaxation in the proposed corporate average fuel efficiency (CAFE-III) norms on the basis of weight, Maruti Suzuki senior executive officer corporate affairs Rahul Bharti said on Monday, bringing to the fore deep division among carmakers regarding the upcoming rules.
