Oil and select auto heavyweights bore the brunt of selling pressure; ONGC, RIL, Tata Motors, M&M key losers.
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.
Firm Asian cues and a higher opening of European markets reflecting a rally on Wall Street, where all three US indices hit new records following strong economic data, bolstered trading sentiments here
Most of the auto major put in a commendable show except for Hyundai which saw its net dipping 17.7 per cent.
The stock exchange on which they are traded boasts higher profits than most of the companies whose shares are hitting new highs. Only 37 of approximately 2,000 listed companies with comparable data for 2022-23 (FY23) reported higher profits, while the rest had lower profits. Despite rising corporate profitability, the universe of companies that outperform the National Stock Exchange (NSE) in terms of profitability has been shrinking of late, according to an analysis of companies with comparable data over the past seven years.
The China auto show saw some amazing models being rolled out, some for the first time. Rajesh Karera/Rediff.com picks the best of the lot.
However, compared to August, vehicle sales increased by 15.25 per cent on the back of discounts. Maruti led the market in offering heavy discounts and incentives for buyers and dealers, reports Arindam Majumder.
Total sales of passenger vehicles, including Scorpio, XUV500, Xylo, Bolero and Verito, stood at 20,748 units as against 20,554 units in April 2012.
While sales of Maruti's compact segment grew, its mini segment witnessed a slump
Amid better semiconductor chip supplies, the Indian automotive industry posted an 8 percent growth in production of vehicles across categories for the month of May, with three-wheelers (20 per cent) and passenger vehicles (16 per cent) leading the pack. Exports, however, dipped 21 per cent at an industry level. The industry also recorded its highest-ever May wholesales of domestic passenger vehicles (334,802 units), riding on high demand for sport utility vehicles (SUVs) and better supplies of semiconductor chips.
Sales of commercial vehicles rose 8.59 per cent to 56,140 units in September, SIAM said.
After a brief lull during the pandemic, there is a strong revival in luxury car sales, bolstered by more launches across price bands, replacement demand, ban on old diesel vehicles in the NCR, and 'revenge buying'.
The government said in a statement earlier this year that by April 1, 2017 cars sold in all Indian cities will need to meet the Bharat Stage IV norms.
Titan was the top gainer in the Sensex pack, rising around 4 per cent, followed by HDFC, Nestle India, IndusInd Bank, UltraTech Cement and Bharti Airtel. On the other hand, Bajaj Auto, Tata Steel and NTPC were the laggards.
The 50-odd launches and unveilings at the Auto Expo are unlikely to lift the gloom off the domestic automobile industry, which has been battling declining sales for six months.
The headline for corporate profit growth has been very encouraging in the July-September quarter (Q2) of 2023-24 (FY24), with the combined net profit of listed companies up by 38 per cent year-on-year. However, the earnings distribution has been very lopsided, with most of the growth coming from public-sector oil-marketing companies (OMCs), banks, non-bank lenders, automobile (auto) companies, and cement producers. By comparison, companies from information technology services, fast-moving consumer goods (FMCG), retail, and consumer durables were disappointed, experiencing a sharp slowdown in net sales growth and a relatively muted increase in reported net profit.
The domestic car market, which sees sales of almost one diesel car for every petrol car sold, will see demand for diesel-powered cars to hit the roof.
Close to half a dozen more three-row premium mid-size models are expected to hit the road over the next two years.
Car sales in India surged by 12.87 per cent in December.
Auto makers, who enjoyed a record-breaking sales run over recent months, are now bracing themselves for upheaval, led primarily by changing government policies and rising inflationary pressures.
The 2012 Auto Expo saw a lot of new bikes but what were the real showstoppers? It's time we do a quick round up to find out.
'Our strategy is intact and our important pillars for India -- the SUV roll-out and the focus on the cost of ownership of a car -- remain in focus'
In the Sensex pack, Hero MotoCorp, IndusInd Bank, Bajaj Auto, Maruti and M&M were the top gainers, spurting up to 2.66 per cent.
Car maker Maruti Udyog Ltd on Thursday said it has recorded highest ever monthly domestic sales for January at 62,248 vehicles a growth of 28.3 per cent over the corresponding month last year.
Forex traders said a stronger dollar also dragged the rupee down.
From its lows this month, the stock of Sona BLW Precision Forgings is up 10 per cent on better-than-expected results. The stock rose by 4 per cent in the trading session on Tuesday after Japan's Nikkei Group said the Indian automotive component major has topped its rankings in terms of competitive advantage. The rankings are based on sales, profit margin, capital expenditure, research and development, and market capitalisation.
The self-balancing concept bike left everybody awestruck at Auto Expo 2018.
The company has also exported over 3.8 lakh Alto cars to over 70 countries.
Battered by the recent economic downturn, the Indian automobile industry is looking up to the newly elected government to implement some key measures to kickstart car sales. Top on their wish-list is ensuring availability of auto loans at lower rates of interest, continuation of some of the sops announced earlier in a stimulus package and a reduction in taxes.
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.
"We are expecting almost doubling our sales in this financial year. We are very well on track with Micra, Sunny and Evalia. Evalia will generate a very new type of customers..", Nissan Motor India Managing Director and CEO Takayuki Ishida said.
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.
There are 230 million vehicles on the road, and counting. Bulk of these are under seven years old and once they get older, the industry estimates the requirement for spare parts and aftersales service to shoot up sharply.
Tata Motors, Hero MotoCorp, Ashok Leyland, M&M are up 3-6% on BSE.
Car sales in India fell for the second consecutive fiscal in 2013-14 with a drop of 4.65 per cent as the auto industry continued to struggle with demand slump.
Close to 60 per cent models that Kia sells in India are top trims of the models. In line with its global strategy, the India arm of South Korean major Kia has dropped 'Motors' from its name. This is to reflect the transition from an automaker to a provider of advanced and eco-friendly mobility solutions, the company said. With a new brand identity and slogan, the fourth-largest car maker in India by sales aims to accelerate growth and strengthen its premium positioning.
Auto firms have reported a good jump in sales for the month of December
The Jats, who went on a rampage to demand quota, attacked the showrooms of only non-Jats.
The company said its net sales during the quarter under review stood at Rs 5,061.49 crore (Rs 50.61 billion) as against Rs 4,817.07 crore (Rs 48.17 billion) in the same quarter last fiscal, up 5.07 per cent.
