According to FADA, automobile retail trade and service industry comprises a network of 9,500 automobile dealers and their service stations engaged in sale, service/repair and spares of vehicles across segments, is an essential link in automotive business and a significant stakeholder.
Scooters, once the fastest growing sub-segment, also declined for the second consecutive month in September.
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.
Product launches to drive incremental volume growth for players such as Maruti Suzuki; medium and heavy commercial vehicle revival on track.
Following a strong performance in the 2022-23 January-March quarter, publicly listed paint industry giants displayed a mixed performance in the 2023-24 (FY24) April-June quarter. While Berger Paints India outperformed its peers and reported results in line with expectations, market leader Asian Paints and Kansai Nerolac Paints fell slightly short of expectations.
Two-wheeler sales were down 15.24 per cent in July to 12,81,354 units as compared with 15,11,717 units in the same month last year.
'If it is your second car (electric vehicle), you typically keep it for travel within the city.' 'And the first car (internal combustion engine-run vehicles) can then be used to travel to some other cities.'
German automotive giant Volkswagen (VW) has said it will focus on the premium sedan/sport utility vehicle (SUV) segment and avoid the mass hatchback segment. "Customers don't expect anything less than a premium product from VW. "Customers expect a certain level of quality and driving dynamics. We have to stay true to that DNA. "The day we go mass, customers will reject us," says Ashish Gupta, brand director, VW India.
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 Reserve Bank's growth projection for next financial year is lower than 8-8.5 per cent projected by the finance ministry in the recent Economic Survey which was tabled in Parliament on January 31. Unveiling the bi-monthly policy, RBI governor Shaktikanta Das said, "Recovery in domestic economic activity is yet to be broad-based, as private consumption and contact-intensive services remain below pre-pandemic levels."
Maruti's results and the investor response indicate that quite a few stocks in the auto sector could be on the verge of a big bounce, says Devangshu Datta.
Driven by robust demand, the domestic automobile industry is expected to maintain double-digit growth for the third consecutive calendar year, growing 17 per cent in 2006.
Weak consumer sentiment across urban and rural markets due to slow farm inflows, subdued agri-commodity prices, rising cost of ownership as a result of regulatory changes including safety, emissions, vehicle registration, along with a rise in interest cost/EMI, have impacted demand.
The economy segment of India's car market is unlikely to revive soon term as inflation and prices prompt buyers to defer purchases. The share of entry-level cars in the passenger vehicle market dropped to the lowest in seven years at the end of the Financial Year 2021-22 (FY22). A recovery in the segment will be largely driven by the overall economic growth, improvement in income levels, and easing of semiconductor shortage, say carmakers and analysts.
Among other things, the agenda is likely to focus on increasing private investment, employment generation and giving relief to the farm sector
Investors should await consistent growth metrics before looking at an investment in the company.
Most say they will review their Make in India plans as prices may top pre-GST level
Maruti recorded a 13.12% year-on-year surge in average revenue earned per car in 2023 compared to M&M's 7.56%, Hyundai's 6.76% and Tata Motors' 1.88%.
Even as domestic passenger car sales declined 29.4 per cent between April and August this year, exports grew 6.5 per cent, partially cushioning the blow from slowing sales.
This is the first decline since June this year when car sales declined by 11%.
Vehicle sales have been hampered by weak consumer sentiment and still-weak availability of financing following tighter liquidity at non-banking lenders since the middle of 2018.
While commercial vehicle (CV) sales were the worst hit, down by 21 per cent to 67,793 units from 85,833 units, two-wheeler sales dropped by 16 per cent to 12,64,169 units from 15,00,545 units. Passenger car sales dropped nine per cent to 215,716 units from 236,586 units.
Tata Motors' passenger vehicle sales stood at 229,325 units in the last financial year, registering a market share of just 8.9 per cent.
The country's largest carmaker Maruti Suzuki India (MSI) aims to sell 4-6 lakh CNG units in the current fiscal year depending upon supply situation of essential components, as per a senior company official. The company sold about 2.3 lakh CNG units in 2021-22. MSI currently sells nine of its 15 models with CNG powertrain and is looking to drive in more models with such technology in the coming days.
Country's largest carmaker Maruti Suzuki India (MSI) on Monday reported 8.7 per cent increase in total sales in February.
Maurti and Hyundai recorded jump in sales in May.
The four-door, five-seater pick-up will be priced at Rs 7.62 lakh for the 4X2 version and Rs 8.58 lakh for the 4X4 version (ex-showroom Delhi). The car will be powered by the same engine which powers the group's sports utility vehicle Safari. It will have 2.2 VTT Dicor diesel engine, which belts out a power of 140 bhp. The car does not have much competition in the lifestyle pick-up market with the only other vehicle in the space being Mahindra's Scorpio Getaway.
Automobile industry body SIAM on Monday lowered its vehicle sales growth forecast for FY'12 to 11-13 per cent from 12-15 per cent announced three months earlier, mainly due to higher interest rates and rising fuel prices.
Upbeat high-frequency indicators and consumer confidence show that Indian economy continues to forge ahead, emerging out of shackles of pandemic, said an article on the state of economy published in RBI Bulletin on Wednesday. The recovery is spearheaded by an uptick in private investment through November-December alongside a turnaround in bank credit offtake and high capex from the government sector (Centre and states). In conjunction, the employment situation has brightened, said the article written by RBI officials.
Take out Maruti Suzuki and Honda, and the auto sector's prospects suddenly don't look all that rosy.
The Union Cabinet on Wednesday approved a Rs 26,058 crore production linked incentive (PLI) scheme for auto, auto-components and drone industry to enhance India's manufacturing capabilities, Union Minister Anurag Thakur said on Wednesday. The PLI scheme will incentivize the emergence of advanced automotive technologies' global supply chain in India.
The widely tracked HSBC Purchasing Managers' Index (PMI) rose to 54.2 points in December, the fastest in a month since April 2009.
According to the monthly sales figures released by the Society of Automobile Manufacturers on Wednesday, motorcycle sales in the domestic market during September declined 18.40 per cent to 5,48,816 units compared to 6,72,570 units in the same month last year.
First time in 13 years the company has declined payment of dividend.
The scheme has been extended to all categories of employees.
Primary steel producers in the domestic market have raised product prices by 2.5 to 3 per cent for December to address margin compression and in anticipation of a demand pick-up.
'It feels like Assam is good just as a tourist spot and not a place to earn and live.'
'We want to be number three by 2018 and every month we are moving closer to that ambition.'
Worth Rs 210,024 cr, it is Rs 1,100 cr shy of combined Rs 211,186 cr value of Tata Motors and M&M
Tata Motors Chairman Cyrus Mistry said the company was poised for an 'inflection', even as it revamped its entire product portfolio.
