Reeling under severe slowdown, the auto major had reduced its production by 33.99 per cent in August, making it the seventh straight month of reduction.
Passenger car sales during May 2005 jumped 13.02 per cent to 68,516 units compared to 60,618 units during the same month last fiscal.
M&M recently roared past Tata Motors in auto sales for the first time.
Declining interest rates, a near-normal monsoon leading to higher rural incomes and pay hikes for central government employees are key triggers, says Dev Chatterjee.
Buoyed by strong sales, Maruti Suzuki, Hyundai and Honda have scaled up their annual targets, but others are still stuck in low gear
Maruti Suzuki India (MSIL) has ambitious plans to increase capacity. It is also seeking shareholders' approval for a complex swap transaction, which would acquire Suzuki Motor Gujarat (SMG), a subsidiary of Suzuki Motor Corporation (SMC) through a preferential offer. SMC already holds 56.37 per cent of MSIL's equity.
Czech automaker Skoda on Monday forayed into the midsize SUV segment in India with the launch of its new offering Kushaq, priced between Rs 10.5 lakh and Rs 17.6 lakh (ex showroom Delhi).
The growth, however, may not indicate a major revival of economic activity.
The Reserve Bank of India, in its Second Bi-Monthly Monetary Policy Statement for 2014-15, kept the key interest rate unchanged at 8 per cent.
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
As macroeconomic numbers continue to disappoint, reaching pre-Covid level is unlikely in FY21.
Thi is the best-ever monthly sales achieved in passenger cars, motorcycles and total two-wheelers segments.
Maruti has announced it will phase out diesel variants from April 1, 2020, when stringent BS VI norms take effect
American automaker Ford on Thursday said that it had withdrawn plans to manufacture electric vehicles (EVs) in India and it won't invest in the country under the performance-linked incentive (PLI) scheme. "After careful review, we have decided to no longer pursue EV manufacturing for exports from any of the Indian plants. "We remain grateful to the government for approving our proposal under the PLI and for being supportive while we continued our exploration. "Ford India's previously announced business restructuring continues as planned, including exploring other alternatives for our manufacturing facilities.
Most say they will review their Make in India plans as prices may top pre-GST level
Passenger Vehicle makers are likely to see their cumulative earnings at an operating level erode by Rs 1,800-2,000 crore in the year ending March 2022 on account of the shortage of semiconductors, rating agency Icra said at a webinar on Wednesday. The industry, it pointed out, is estimated to lose production of 500,000 units at the end of FY22 due to the chronovc shortage the chip, which is critical in safety, entertainment and the various other smart features of a car. "In absence of the chip crisis, the industry volumes are likely to have exceeded the all-time peak annual volumes." Icra has pared its growth estimates for the PV market from the earlier 10-14 per cent to 8-11 per cent now in FY22.
For automakers, the festive season is about raking it in through ramped up sales and attractive consumer offers. However, despite the robust demand, what may spoil the party this year is a global shortage of semiconductors.
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.
The domestic auto industry is set to hit an all-time high sales figure of 12.2 million units in 2009-10, surpassing the previous sales record of 10.1 million units in 2006-07.
Total sales of vehicles across categories registered 21.32 per cent growth to 13,70,932 units in February, 2011.
'Favourable product mix, sales recovery, and cost saving initiatives are expected to support margins going ahead while focus on debt reduction (target of debt free by FY24) will aid balance sheet strength'
The second wave of the pandemic in the country has derailed the recovery momentum of the domestic auto industry, which was poised for a comeback in the current fiscal after witnessing the two consecutive challenging years, ratings agency ICRA said on Thursday. Unlike the first wave where infections were largely localised to urban clusters, the second wave has seen deeper and wider penetration, including into rural hinterlands. Accordingly, outlook for various segments has been revised downwards, it said.
Vehicle sales across categories registered an increase of 5.03 per cent to 16,03,292 units from 15,26,514 units in November 2013.
Auto sales fall 18 per cent in November.
Consolidated earnings of Bharat Forge in Q3FY23 missed estimates, largely due to higher-than-expected interest burden, although operational numbers (including standalone numbers) were close to consensus. Still, the management guidance was positive and appeared to be based on logic.
"Out of the total sales, we feel that Chevrolet Spark would enjoy major share in total car sales for this year as small cars continue to have largest share in passengers cars market in the country," General Motors India Director (Operations) S Garg told reporters in Chandigarh on Friday.
Posting a remarkable turnaround after a dip in sales for three previous months, Maruti Suzuki sold a record 67,005 vehicles in the domestic market--the highest ever in a month in its 25-year history--reflecting a 5.6 per cent growth over January 2008. The previous sales record was 65,216 units, notched up in November 2007, when there was no slowdown.
Marcopolo has got four manufacturing facilities in Brazil and one each in Portugal, Argentina, Mexico, Colombia and South Africa. India will be its tenth production base.
Utility vehicles leader Mahindra and Mahindra on Monday announced a nominal 0.5 per cent price hike across all models, expect for the premium sports utility vehicles XUV 500 and the Rexton from its Korean arm, despite falling sales, which dipped nearly 8 per cent in June.
From the customer point of view too, LFP batteries are safer and offer a longer life.
The loan facility will be available at all branches of Union Bank of India and 329 sales touch-points of Tata Motors. UBI offers car loans up to 85 per cent of invoice, for tenure ranging up to five years, at a rate of 11-11.25 per cent, Tata Motors said.
Passenger vehicle major Honda Siel India will launch the new version of premium sedan Accord by the next year.
The biggest losers in the Sensex pack were Vedanta, Tata Steel, M&M, Tata Motors, Maruti, Hero MotoCorp, PowerGrid, Bharti Airtel, SBI and Coal India -- falling up to 4.48 per cent.
First time in 13 years the company has declined payment of dividend.
According to experts, Tata Tiago JTP and Tigor JTP -- a sedan and hatchback -- are not only powerful and faster than every other car in the segment, but also in the segment above, including their peers Maruti Baleno RS, Volkswagen Polo and others.
At home, passenger and commercial vehicle sales have suffered from an environment of high interest rates and fuel prices in an economy growing at its slowest pace in a decade.
With car sales in India falling for a record ninth month in a row in July posting 7.4 per cent decline and that of heavy and medium commercial vehicles dipping for 17th month in succession, industry body SIAM said on Monday auto sector has started retrenching temporary workers.
'We want to be number three by 2018 and every month we are moving closer to that ambition.'
