Reflecting the mood, passenger vehicle sales in November either remained muted or skidded for most manufacturers as high fuel prices and the higher cost of borrowing dampened buying sentiment.
If you are planning to buy an electric car in the near future, it would be highly advisable to wait for these upcoming electric SUVs.
However, sales of mini segment cars, including Alto and WagonR, declined 7.9 per cent to 25,524 units from 27,712 in the year-ago month
The quarter was marked by adverse foreign exchange rates and commodity prices, higher depreciation and higher sales promotion expenses.
At present, Mahindra First Choice is the leader in the Rs 60,000-crore (Rs 600-billion) multi-brand used car market.
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The much hyped 'world's cheapest' car Nano has failed to live up to the expectations as it witnessed a massive decline in sales to 509 units in November this year compared to 3,065 units sold in the previous month.
Italian super sports car maker Lamborghini is looking at a record year in India in terms of sales, riding on a V-shaped recovery in demand post Covid-related disruptions and positive sentiments in view of strong vaccination drive, according to a senior company official. The company, which sells a range of super luxury cars priced between Rs 3.15 crore and Rs 6.33 crore, is looking to beat its best-ever performance in the country recorded in 2019 when it sold a total of 52 units. It is already witnessing over 20 per cent growth in its business in 2021 as compared to 2019.
Hiriko is a folding two-seat urban electric car.
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While some of these hatchbacks have been around for years, a few were recent additions.
If Tesla comes in, India's position as a manufacturing hub will rise many notches, as it will become only the second country, after China, to have both Apple as well as Tesla.
Young buyers willing to frequently replace older models with newer ones are boosting bookings and sales.
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.
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.
General Motors India on Tuesday increased vehicle prices by up to Rs 61,000 in order to partially offset the impact of rising input costs and expiry of reduced excise duty concessions.
A dummy's guide to get the best price for your car.
Tata Motors' Nano, the world's cheapest car that costs slightly more than some premium bikes available in the country, is unlikely to wean away buyers from the two-wheeler segment, an industry official said on Friday. "I don't ascribe to the idea that the introduction of low priced cars in the market will affect the two-wheeler segment," S Balasubramanian, executive vice-president for operations & marketing, TVS, Srichakra Ltd said.
The first month of the new fiscal year saw a slight change in sales trends as market leader Maruti Suzuki saw a decline in sales of its popular models.
Almost every company launched a new product in FY16.
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Besides, Toyota and MG Motor also reported nil sales as they suspended operations even before the imposition of lockdown on March 25 to check the spread of coronavirus. In two-wheeler segment, niche bike maker Royal Enfield said it had zero sales in the domestic market but exported a total of 91 units last month.
The margins of tyre manufacturers could come under pressure given the rise in rubber prices and the moderating demand for tyres. In the past three quarters, the revenue growth for listed tyre companies has moderated from low to mid-single-digit on account of factors such as lower demand in replacement segments, weak export markets and the decline in the average selling prices to car makers (OEMs). Demand trends could remain muted in the near term, given the weak passenger vehicle replacement demand, assuming a typical replacement cycle of 3-5 years, and demand moderation in the OEM segment.
MSI said compact sedan Dzire Tour stood out as sales rose by over two-fold during the month under review to 3,370 units as against 1,299 in July 2014.
The GST Council last year imposed a cess of 15 per cent on hybrid vehicles, in addition to the 28 per cent GST, leading to a total tax burden of 43 per cent against a previous tax rate of 28 per cent.
Automakers Maruti Suzuki, Mahindra & Mahindra and Audi India on Monday announced plans to hike prices of their passenger vehicles in January 2024 citing reasons, including cost pressure driven by overall inflation and increased commodity rates. Besides, Tata Motors and Mercedes-Benz India are mulling increasing the prices of their models from January. The country's largest carmaker Maruti Suzuki India, which sells a range of vehicles from entry-level small car Alto to multi-utility vehicle Invicto, priced between Rs 3.54 lakh and Rs 28.42 lakh (ex-showroom Delhi), on Monday said the price hike would vary from model to model.
India's largest carmaker Maruti Suzuki India tightened its grip in terms of best selling cars with six of its models featuring in the top-10 list for the just concluded fiscal.
Maruti Suzuki India (MSIL) has ambitious plans to increase capacity. It is also seeking shareholders' approval for a complex swap transaction, which would acquire Suzuki Motor Gujarat (SMG), a subsidiary of Suzuki Motor Corporation (SMC) through a preferential offer. SMC already holds 56.37 per cent of MSIL's equity.
Two-wheeler exports from India fell by 17.8 per cent to 3.65 million units in 2022-23 (FY23), according to data released by the Society of Indian Automobile Manufacturers (Siam) on Thursday. This decline is due to a rise in global inflation and the weakening of economies and currencies in key export markets of Africa, Latin America (LatAm), and South Asia. In contrast to FY23, two-wheeler exports from India jumped 35.4 per cent to 4.44 million units in 2021-22 (FY22).
Buoyed by strong sales, Maruti Suzuki, Hyundai and Honda have scaled up their annual targets, but others are still stuck in low gear
ICICI Lombard General Insurance Company reported financial improvement and optimistic commentary in Q4FY24. It reported 17 per cent year-on-year (YoY) growth in Gross Written Premium (GWP) and 115 bps improvement in the Combined Ratio (COR) in FY24, and improved COR guidance with COR going from 104.5 per cent in FY23 to 103.3 per cent in FY24, 102.4 per cent in FY25 and 102.0 per cent in FY26.
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.
While sales of Maruti's compact segment grew, its mini segment witnessed a slump
Volkswagen announced plans on Tuesday to refit up to 11 million vehicles and overhaul its namesake brand.
India is sceptical that Tesla might import into the country cars made in China. Tesla executives were in India last month and appear to have proposed a factory in the country. But do not be surprised if that does not happen in a hurry.
A bench headed by Justice Arun Mishra said Bharat Stage-IV vehicles sold after March 31 this year and those whose details have not been uploaded on the e-Vahan portal of the government will not be registered.
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