Two-wheeler exports from India have decreased by 20 per cent year-on-year (Y-o-Y) to 1.69 million units in the first half (H1) of 2023-24 (FY24) due to a challenging geopolitical situation and foreign exchange (forex) crises in key markets such as South Asia, industry body Society of Indian Automobile Manufacturers (Siam) said on Monday. On the other hand, passenger vehicle (PV) exports in H1FY24 increased by 5 per cent to 336,754 units because the key markets are much more diversified worldwide, Vinod Aggarwal, president, Siam, told reporters during a press conference. The Russia-Ukraine war, which started in February 2022, has brought significant instability to global fuel prices.
Passenger vehicle sales in India touched a record high of 41.08 lakh units in 2023, growing by 8.3 per cent over the previous year driven by SUVs, which accounted for almost half of the total dispatches from manufacturers to dealers. The record sales have been achieved despite an increase in the average price of vehicles to Rs 11.5 lakh last year as compared to Rs 10.58 lakh in 2022. Market leader Maruti Suzuki, Hyundai Motor India, Tata Motors and Toyota Kirloskar Motor reported their best-ever annual sales in 2023.
'The Indian govt's initiatives on EVs are very strong and customers want to buy EVs. This will make the country's conversion to EVs faster than other markets, and I hope even faster than the US'
'India is the sixth-largest market for the Kia Corporation, and contributes 8 to 9 per cent to our global sales.' 'We are eyeing 10 per cent market share over the next few years depending on customer demand and new product innovations.'
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The figures are encouraging for the auto industry amid apprehension that due to higher cost and lack of fuel availability, cars with stricter emission standards may not be popular in initial stages. Automakers had even cited this confusion as one of the reasons for dwindling car sales in India, reports Arindam Majumder.
The three launches are part of the plans of the company, which is the fully owned subsidiary of Renault s.a.s, to introduce five new cars in the market, Renault India vice-president (sales and marketing) Len Curran told reporters in Kochi.
With growing revenues, a spreading business empire, and surging aspirations, companies are seeing a strong demand for luxury products from Tier 2 and Tier 3 cities.
A large part of the credit for the Kwid's success goes to sourcing of local components. This allowed Renault to launch the car at Rs 256,000 in September 2015
The market for compact cars has become really cut-throat.
Maruti is now at a market share of 50.4%, up from 47.3% last year. In China, the world's biggest market, Volkswagen is the largest, with a share of 17%. In America, the second biggest, GM is leader with 18%. One exception is South Korea, where Hyundai has a market share in excess of 60%.
Step on the gas and the power that propels the compact four-seater will take you by surprise as it hurtles towards the 80 kmph like a racing thoroughbred, never compromising any stability thanks to its rigid chassis and solid 1,600-kg kerb weight that gives it a well-planted feel along straights, corners and tricky lanes and roads, says Pavan Lall.
'Four times in Indian history, in 1992, 2000, 2007 and now, markets are at 25 times price-earnings.'
With only a handful of models by a few manufacturers including Tata Nexon, MG ZS, Hyundai Kona, among others, the segment has remained under tapped.
SIAM said it expected 10-12 per cent growth in 2012-2013.
Domestic passenger car sales grew by 15.37 per cent to 1,33,486 units in August this year compared to 1,15,705 units in the same month of 2012.
The Tata Nexon and Mahindra Marazzo ace the safety ratings, but what about other Made in India cars? How safe is the car you drive?
Small cars account for 80 per cent of the domestic market and exports are growing at a fast pace.
Jimny will be priced between Rs 12.7 lakh and Rs 15.05 lakh.
Italian carmaker Maserati is targetting India's tier II and III cities, which are proving to be catalysts in spurring demand for super luxury brands, as it looks to strengthen foothold in the country, according to a senior company official. The company, which re-entered India in 2015, has also overhauled its after sales and service support as part of its renewed focus on customer experience. "Maserati has seen a hike in demand in smaller cities although traditionally we enjoyed steady patronage in the metros. "Even though the expansion in terms of physical network presence in these cities depends on our partners," Maserati APAC head Bojan Jankulovski told PTI in an emailed interview.
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Renault Kwid is a good entry-level car for Indian roads.
Toyota, M&M and Honda are making tough adjustments to their growth plans as uncertainty over diesel vehicles and fuel emission norms rises
Volkswagen sold about 45,000 cars in India in the year to end-March, of which about two-thirds were Polo hatchbacks
Though the Indian passenger car market has been a tough nut to crack, Ford Motor India is planning to launch its future products in the mid and high end car segment and will bring out a new Endeavour in early 2007
'They have since only tried to improve systems. Also, with regulatory guidance from time to time, we are in a position to assess a situation and react in time.'
Hyundai Motor India, the country's second largest car maker, on Friday said its plan for launching a small car in the Indian auto-market is "well on course".
Right now, the 'Lower D' or LD segment -- which the industry defines as a sedan that costs between Rs 1.5 million and Rs 2 million, is longer than 4.5 metres, and powered by an engine of 1.8 litre or larger -- has barely three cars, all of which have been around for over a decade in India. Nevertheless, at least one foreign auto player is looking to bet big on the segment.
Japanese major's idea part of strategy to double sales in emerging markets by 2017.
Bajaj Auto expects to launch its small car in the next four years in partnership with Renault and Nissan.
The Maruti Suzuki Swift DZire is at times the top selling car in India, outselling even the company's entry-level Alto hatchback. MotorBeam finds out what makes this compact sedan a favourite of Indian buyers by living with the vehicle.
During May, Maruti Suzuki's domestic car sales were up 2.59 per cent at 87,402 units as against 85,190 units in the same month last year.
The customised version could be of Phantom and Ghost series and will be available in limited numbers.
Many say Tata Motors has perhaps paid the price for being too ambitious.
The French car maker has gained a firm footing in the small car segment, and is well on its way to becoming the topmost European car brand in India
Prominent ones are Maruti's smoky Ciaz and Fiat's gorgeous Avventura.
Maruti is trying to move up the segment by focusing on premium cars, SUVs and even trucks.
Carmakers, both domestic and foreign are gearing up with their 'to do' list.
Localisation for present-generation Hyundai cars will also rise from the average 85-90 per cent.
The list clearly shows the dominance of Maruti and Hyundai in the Indian passenger vehicle market.
