Driven by strong demand, the overall passenger vehicle dispatches crossed 3.35 lakh units in February as automakers, including Maruti Suzuki India, Hyundai, Tata Motors and Mahindra & Mahindra, reported robust sales during the month. The dispatches of more than 3.35 lakh units last month marked an 11 per cent over February 2022. It was also the highest ever overall wholesales in the month of February. The country's largest carmaker Maruti Suzuki India on Wednesday said its domestic wholesales rose 11 per cent to 155,114 units in February as compared with 140,035 units in the same month last year.
Auto Expo 2023 may not trigger a fresh rally in automobile stocks, say analysts, as this year's edition lacks participation from major listed players. It is also owing to the focus on electric vehicles (EVs), a segment where four-wheelers have minuscule market share. "In the passenger vehicles (PV) segment, Maruti Suzuki India and Tata Motors are the only listed players.
Major carmakers, including Maruti Suzuki, Hyundai, Tata Motors on Friday reported growth in their passenger vehicle sales in June as semiconductor shortage woes showed gradual signs of easing out. Other manufacturers, Kia India, MG Motor India and Skoda Auto India also reported robust sales growth last month. Maruti Suzuki India (MSI) reported 5.7 per cent increase in total wholesales at 1,55,857 units in June as compared to 1,47,368 units to dealers in June 2021.
Open order books in February breach 700,000; wait period for some models exceed a year.
While Hyundai Motor India reported a marginal growth, Toyota Kirloskar Motor witnessed a dip in sales last month.
The EV industry is at an inflection point and batteries will play a critical role ahead -- batteries and related components typically constitute 35-45 per cent of an EV's costs.
Legal battles initiated by 1,000-odd former employees of the Talegaon plant continue to present a challenge for the acquisition process.
Only five of India's top 20 car models have seen a reduction in wait times over the past year.
The company, which is slated to introduce a new compact car later this year, is also mulling taking on Maruti Suzuki's Dzire and Honda Cars India's Amaze with a new sub-four metre sedan.
Electric vehicle retail sales in the country witnessed over three-fold jump last fiscal with two-wheeler offtake leading the segment, according to data compiled by automobile dealers' body FADA. Total electric vehicle (EV) retails reached 4,29,217 units in 2021-22, a rise of three-fold from 1,34,821 units in the financial year 2020-21, the industry body said. Total EV sales had stood at 1,68,300 units in the 2019-20 fiscal, it noted.
When mounted on a vehicle, the scooter is charged automatically using electricity produced while driving, ensuring that the user can complete their journey seamlessly, using the e-scooter to reach their final destination after parking the vehicle.
According to the company's business plan for 2013, the company said its plant at Chennai is projected to have a wholesale volume of 6,33,000 units as compared to 6,41,000 units clocked last year, a decline of 1.3 per cent.
Hyundai Motor India will increase prices of its vehicles by up to Rs 20,000 across all models by February 1.
Hyundai Motor India Ltd introduced on Wednesday its new compact car, 'i10' priced between Rs 3,39,000 lakh and Rs 3,98,000.
White is easy to maintain, looks brighter than other colours over a longer period, is the least commonly rejected colour among family members, has high resale value, provides better safety at night, absorbs less heat in the summer season, makes small cars look bigger, and is not considered inauspicious.
Hyundai Motor India has started a scheme to give central and state government employees a special discount on purchase of its vehicles.
Hyundai Motor India on Thursday said it had concluded a three-year wage agreement with its workforce, paving way for an increase in their salaries.
The new variant comes with 1.4 litre petrol engine with four speed automatic transmission besides additional safety features.
Last year it had entered Spain, China, Vietnam and Pakistan as well.
Hyundai Motor India on Thursday downplayed apprehensions that its premium hatchback offering 'Getz' was under 'threat' following the launch of Suzuki's 'Swift' in the same segment, at a relatively cheaper price.
The Eurozone crisis is likely to bring down Hyundai Motor India's exports to 2.25 lakh cars this year against 2.47 lakh last year, a top company official said.
Toyota, Mercedes Benz and BMW, have announced a hike already.
Korean auto major Hyundai Motor Co on Thursday launched entry level compact car Eon that has been developed specifically for the Indian market, at an introductory price of between Rs 2.69 lakh (Rs 269,000) and Rs 3.71 lakh (Rs 371,000), ex-showroom Delhi.
With entry-level cars being preferred amid the pandemic, market leader Maruti Suzuki has strengthened its hold, along with Hyundai Motor India.
The company officials that visited Dholera will submit their recommendations to the company board for a final investment decision in this regard.
The South Korean auto major which entered India in 1998 through its flagship compact car Santro, has reached the 20 lakh (2 million) car production for domestic market in 12 years.
The company, which on Monday became an official partner for International Cricket Council, will also be spending Rs 200 crore (Rs 2 billion) in the next five years on advertising and promotions.
Korean car maker, Hyundai Motor India would launch its 'Always Around' campaign for the fourth consecutive year from May 23.
The growth momentum that started during the festival season is likely to sustain in the new year, reports Arindam Majumder.
Automobile manufacturers, new and old, as well as ancillary suppliers are set to spend a combined Rs 70,630 crore over the next five years on either entering the electric vehicle segment or stepping up their presence in it. Data culled from announcements made by firms shows India, the world's fifth largest automobile market, is poised to receive one of the biggest capex pushes ever to fuel the transition from internal combustion engines to electric motors and batteries as part of a green drive. The EV push, egged on by the government's emphasis on electric mobility to meet its net zero targets, is expected to yield at least 25 electric vehicles - new ones as well as electrified versions of existing vehicles running on internal combustion engines.
Hyundai Motor India Ltd (HMIL) said it will increase the prices of vehicles across models by up to 2 per cent to offset rising input costs.
BS-VI emission norms and the COVID-19 lockdown impacted the dispatches.
The company, whose arm Maruti Suzuki is the largest passenger vehicles maker in India, asserted that it does not align with any political or religious inclination in any part of the world.
Hyundai Motor India on Thursday introduced a new version of its compact car i10, offered at an introductory price of Rs 3,48,000 to Rs 5,91,000 (ex-showroom,Delhi).
Close to half a dozen more three-row premium mid-size models are expected to hit the road over the next two years.
The muted expectation of dealers come at a time when vehicle manufacturers such as Maruti Suzuki, Hyundai Motor, Mahindra & Mahindra and others reported a double-digit fall in wholesale dispatches to dealerships in July and August.
Auto major, Hyundai Motor India, on Thursday said that it would be increasing the prices of its products by up to 1.2 per cent across all models, from September 1.
Last week, rival and market leader Maruti Suzuki India had raised the prices of its various models, except Alto, by up to Rs 7,500 citing a sharp increase in input costs with immediate effect.
Currently Hyundai sources only a negligible percentage of components from India for its global needs but wants to increase the level.
Hyundai Motor India has received a faxed communication dated November 19 from the unrecognised union stating that they will resort to direct action from December 5.
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