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 models from Hyundai and Maruti, which might go on sale in October 2018 and February 2019, respectively, are set to revive a segment that had lost sheen to the compact SUV segment, lately
Total revenue from operations however rose to Rs 67,081.29 crore as compared with Rs 59,818.22 crore in the year-ago period
'The decrease in the popularity of white cars and the rise in preference for darker colours like black, grey, and blue over the past three years reflect changing consumer attitudes.'
Maruti, Honda and Tata Motors posted highest sales growth during the month
During September, Maruti said it dispatched 1,375 units of the soon-to-be-launched sedan Ciaz.
With sentiment for the automotive (auto) sector turning positive, stocks of two-wheeler auto majors have been hitting their 52-week highs. Hero MotoCorp, Bajaj Auto, TVS Motor Company, and Eicher Motors recently reached their yearly highs on strong sales in the festival season and the expectation of faster growth rates ahead. Since the start of this month, listed two-wheeler majors have delivered returns in the 12-17 per cent range, compared to the 7 per cent gains for the S&P BSE Auto Index and 3 per cent for the benchmark S&P BSE Sensex.
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.
The company, however, said sales of the compact segment comprising Swift, Estilo, Ritz were down by 11.9 per cent to 13,882 in July this year as against 15,759 units last year.
India has exported passenger vehicles worth $268 million to the US in three months ended June
Maruti, Hyundai & Mahindra together had 72.5% market share in year's first half.
Tata Motors on Tuesday launched its second electric vehicle -- Tigor EV, catering to the personal segment in the domestic market, priced between Rs 11.99 lakh and Rs 13.14 lakh (ex-showroom). The model comes in three variants, priced at Rs 11.99 lakh, Rs 12.49 lakh and Rs 12.99 lakh. A dual tone top-end trim is tagged at Rs 13.14 lakh. The auto major has already achieved success with its first electric model, Nexon EV and now commences deliveries of Tigor EV from around 150 sales outlets in 70 cities across the country.
The move is prompted by the disruption in the car usage pattern caused by the app-based ride-hailing companies such Ola and Uber
Country's largest carmaker Maruti Suzuki India (MSI) on Monday reported 8.7 per cent increase in total sales in February.
Ford's compact SUV will challenge not only the entry-level utility vehicles but also the premium hatches and compact sedans.
M&M's profit before tax from the farm equipment segment rose 31% last year to Rs 2,562 cr
Analysts have predicted a 23 per cent volume growth for the auto segment between FY22 and FY25, riding on the company's differentiated EV and SUV plan. M&M is already a market leader with a 36 per cent share in electric three-wheelers, and its Zaheerabad plant in Telangana is ready to cater to demand. In the farm segment, the company plans to focus on niche electric products.
Hero MotoCorp, Honda Motorcycles, Scooters India, TVS, Honda India, Toyota Kirloskar Motor, Ford, Nissan, Ashok Leyland are all giving the Auto Expo a miss this time.
One reason for the upward revision in the forecast comes from the surprise growth of 9.45 per cent notched by the industry since the beginning of this year.
According to the figures released by the Society of Indian Automobile Manufacturers, motorcycle sales in the country during the month was down by 17.68 per cent at 4,25,089 units, against 5,16,410 units a year ago. Commercial vehicle sales during the month increased by 1.69 per cent to 45,059 units from 44,308 units for the year-ago period, SIAM said.
286 dealers closed down in 18 months, 32,000 jobs impacted. Maharashtra leads with 84 closures, followed by Tamil Nadu and Delhi. The worst-hit is the passenger car segment.
The S&P BSE Auto Index has been one of the biggest outperformers among sectoral indices over the past year with returns of 26 per cent. By comparison, the benchmarks - the National Stock Exchange Nifty50 and the S&P BSE Sensex - managed about 6-8 per cent during this period. Improving demand, falling raw material costs, and rising product realisations, led by the premiumisation of portfolios, have led to a revision of growth estimates and upgrades by domestic brokerages.
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.
A lot rides on this new vehicle for Renault, the seventh largest player in domestic passenger vehicle market, as its brand new SUV takes on Maruti Suzuki Brezza, Hyundai Creta and Ford EcoSport.
The question is: Will the company have a strong balance sheet to support this massive investment plan?
as the FAME II deadline of March 31, 2024, nears, EV manufacturers are worried about their investments and future plans.
The company is banking on investments lined up for product development and other innovations.
'While most companies were bullish before the second wave of double-digit sales growth in FY22, that may not be the case now.'
Total sales of commercial vehicles were down by 5.59 per cent to 48,473 units from 51,344 units in the year-ago period, SIAM said.
Sales of recently launched Grand i10 and Xcent jump even as those of competing models drop in past two months.
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.
Country's largest car maker draws nearly half of its sales from exchange programmes, rural focus.
Various factors, including robust demand in rural markets and good response to new models, helped in driving the sales.
While the share of diesel vehicles sales in the overall passenger car industry has already fallen sharply, sales of CNG vehicles have shown a compound annual growth rate of 15.5 per cent over the past five years.
Maruti Suzuki India (MSIL) - the market leader in small cars - is eyeing the top spot in the sports utility vehicle (SUV) segment within a year - with a 33 per cent share of the pie. The company has been selling two SUVs - the Brezza and the Grand Vitara - and will start deliveries of the Jimny and the Fronx from March-end, and has set a target of growing its share from the current 11.5 per cent of the SUV market to 33 per cent by the end of 2023-24. The SUV segment is roughly about 42 per cent of the total passenger vehicle market, or around 1.3 million units.
The highest pay hikes for the current year are set to come from Maruti Suzuki and Hero Honda.
The institutional portion was subscribed 143 times, the wealthy investor portion by 360 times and the retail investor portion by 24.5 times.
The Tata group flagship has sold more sport utility vehicles (SUVs) in the domestic PV market in the past four months than any other automotive manufacturer, cementing its no.1 spot. It first grabbed pole position in the SUV segment in October 2021 after the launch of the Punch - a sub-compact SUV offering.
Maruti is expected to post double-digit growth on product launches and good demand for entry-level cars.
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