Leading automakers Maruti Suzuki, Hyundai and Tata Motors on Friday reported robust sales for February as demand for sports utility vehicles continued to remain strong. Mahindra & Mahindra, Toyota Kirloskar Motor and Honda Cars also witnessed higher vehicle dispatches to dealers last month. February turned out to be the third-best month for sales for the industry ever.
Cold-day conditions prevailed in parts of north India on Friday though the maximum temperatures rose slightly amid clear skies and sunshine during the day.
Auto industry volumes have grown by 2.5 per cent overall, led by domestic sales of three-wheelers, two-wheelers and passenger vehicles (PVs) in the first quarter of this financial year. Analysts predict an 18 per cent growth in revenues for automotive original equipment manufacturers (OEMs) and profit growth of 69 per cent year-on-year (YoY). However, on a sequential basis, a decline in revenues as well as earnings before interest, taxes, depreciation, and amortisation (Ebitda) margins is expected.
The S&P BSE Midcap and the S&P BSE Smallcap indices have managed to stay afloat in a volatile January that saw the frontline indices hit their respective 52-week high levels and then slip. While the S&P BSE Sensex has lost over 2 per cent thus far in January, the S&P BSE Midcap and the S&P BSE Smallcap indices have gained nearly 2.5 per cent and 4 per cent, respectively during this period.
The price hikes during Covid were more because of supply chain and logistics disruptions caused by the pandemic and the Ukraine war rather than firms increasing prices because of higher pricing power, a report by State Bank of India (SBI) said. "It is thus incorrect to infer that concentration power dictated pricing capacity of firms, thus resulting in unyielding core inflation," the report authored by Soumya Kanti Ghosh, group chief economic adviser, SBI, said. A recent research article by former Reserve Bank of India (RBI) deputy governor Viral Acharya had observed that persistence of core inflation in India is due to purchasing power of top-five corporate houses.
'Our objective is to reach a localisation rate of 50% in the span of five years.'
The semiconductor chip supply for the electric two-wheeler industry has normalised but the prices are up by nearly 50 per cent compared to pre-pandemic period, said Eric Vas, president, Urbanite, the electric vehicle (EV) business of Bajaj Auto. "It (the supply) has improved greatly. It has pretty much normalised. The problem is the cost. "The costs remain very high. Hopefully, the costs will start correcting themselves over this fiscal year," he said in an interview with Business Standard.
The K-shaped economic recovery in India from the pandemic slowdown shows in corporate results as well. The automobile sector, which represents big-ticket consumption, continues to do well and has increased its share in corporate revenues and profits while fast-moving consumer goods (FMCG) companies that sell low-ticket consumer goods are struggling with poor sales and earnings growth. The share of the automobile sector, including makers of auto ancillaries, in corporate net sales rose to a 10-quarter high of 10.05 per cent during July-September 2023 (Q2FY24) from 8.94 per cent a year earlier and 9.75 per cent in Q1FY24.
'With NPA under control, we should be able to post better profits.'
The bench, which stayed the May 26 order of the Delhi HC, also recorded the Delhi government counsel's submission the final policy will be notified before July-end.
The number of contesting candidates this time is 35 less than the figure in 2018.
'Investors should focus on largecap funds, flexicap funds, business cycle funds, or hybrid-category funds.'
Indian manufacturers are very experienced in producing vehicles at price levels that are very competitive, says
Passenger vehicle wholesales rose 17 per cent in January to 298,093 units driven by robust offtake of utility vehicles, including the fast-growing sports utility vehicles, industry body SIAM said on Monday. The overall passenger vehicle dispatch from companies to dealers was 254,287 units in January 2022. Utility vehicle sales rose to 149,328 units last month from 116,962 units in January last year.
The report showed that 53 road accidents take place every hour in the country.
Lamborghini has sold 10,112 cars worldwide -- so India's 100 is certainly a big deal for them. But how big a deal is it for us to peg our consumption theories around, asks Rama Bijapurkar.
Rapid changes are taking place in the two-wheeler world.
Automobile retail sales in India rose 14 per cent in January on the back of robust registrations across passenger vehicles, two-wheelers and tractors, dealers' body Federation of Automobile Dealers Associations said on Monday. Total sales across categories last month rose to 18,26,669 units, as compared to 16,08,505 units in January 2022. Passenger vehicle registrations rose to 340,220 units last month, an increase of 22 per cent as compared to 279,050 units in the year-ago period.
Electric vehicle (EV) sales in India topped the 1 million mark in less than nine months in 2023, a milestone that took an entire year in 2022. According to data from the Ministry of Road Transport and Highways' Vahan Dashboard, 1,037,011 EVs were registered with regional transport offices till September 19, accounting for 6.4 per cent of the total automobile sales in the country this year. The sales surge can be attributed to increased individual purchases as well as business-to-business (B2B) acquisitions by EV fleet operators, industry sources said.
The meteoric rise of Shajahan Sheikh from a modest background of a helper in a local transport company to becoming the so-called 'tiger' of Sandeshkhali is what Bollywood film scripts are made of. And so does his fall.
Automobile retail sales in India witnessed a double-digit year-on-year growth in February driven by robust sales across segments including passenger vehicles and two-wheelers, automobile dealers' body FADA said on Monday. Total registrations across segments rose 16 per cent year-on-year to 17,75,424 units last month, as compared to 15,31,196 vehicles in February 2022. Passenger vehicle retail sales rose 11 per cent to 287,182 units last month, against 258,736 units in the year-ago period.
'The aim is also to probe how the ministry and testing agencies made negligence in examining these OEMs, so that such negligence is avoided in the future.'
State governments need to focus on building charging infrastructure to realise the goal of transitioning a large proportion of their sales to EVs, reports Ishaan Gera.
Companies making electric two-wheelers, through their association Society of Manufacturers of Electric Vehicles (SMEV), have taken on the Department of Heavy Industries (DHI), saying they did not get subsidies for even half the mandated 1 million units they manufactured. Subsidies are given under Faster Adoption and Manufacturing of Hybrid and Electric Vehicles 2 (FAME II). In a petition to the parliamentary standing committee on industry energy and estimates, the SMEV said the department had done an "accounting error" by showing that it (the department) was close to achieving the mandated target by including sales of the EVs that were "not funded" under the scheme.
Vehicle retail sales in the country rose 57 per cent during the Navratri festival this year, clocking a record sales of nearly 5.4 lakh units, Federation of Automobile Dealers Associations said on Monday. Total vehicle retail sales between September 26 and October 5, 2022, stood at 539,227 units compared to 342,459 units sold during Navratri last year, FADA said in a statement. The sales registered this year were also a record, bettering the previous best of 4,66,128 units in Navratri of 2019, it added.
Petrol and diesel prices were cut by Rs 2 per litre each as state-owned oil companies ended a nearly two-year-long hiatus in rate revision, just hours before the general election schedule was announced.
Madhya Pradesh government has issued a notification for providing 35 per cent reservation in recruitment to women, barring the Forest department in the state.
It should have been much easier to find this farsan maker's premises given the number of two-wheelers that stream up to this address the day before Ganesh Chaturthi to collect armfuls of bags of laddus, chuda and other kind of chatpata namkeen stuff.
Anjali's friend said she did not inform anyone about the accident as she was scared and feared that she would be blamed for it.
If you thought electric scooters have caught the fancy of only people in the metros, think again. According to data from electric two-wheeler maker, Ather Energy, 54 per cent of its sales of scooters, starting from Rs 1.2 lakh, come from Tier 2 and Tier 3 cities. Based on sales per lakh population, the top five cities for the company are Calicut, followed by Kochi, Kolaphur, Trivandrum and Pune.
Finance Minister Nirmala Sitharaman will present her sixth straight Budget ahead of the Parliamentary elections, matching the record of former Prime Minister Morarji Desai. Sitharaman in her pre-election Budget, which technically is a vote on account and popularly termed an interim Budget, will seek Parliament's nod for a grant in advance to meet the central government's essential expenditure for the first four months of the new fiscal year that starts in April. A new government elected after the April/May general elections will present the full Budget, likely in July.
The island city, eastern suburbs and western suburbs recorded average 57.63 mm, 76.94 mm and 90.50 mm rainfall, respectively, between 8 am and 6 pm.
Dressed in colourful attires, Govindas visited places in trucks, tempos, buses and two-wheelers.
Aided by robust festive season offtake, automobile retail sales in India witnessed a 48 per cent annual jump in October, automotive dealers' body Federation of Automobile Dealers Associations said on Monday. The total retail sales last month stood at 20,94,378 units, up 48 per cent from 14,18,726 registrations in October 2021. The registrations last month were even better by 8 per cent as against October 2019, a pre-COVID month. The festive season this year turned out to be the best for the industry in the last four years.
The EV industry is at an inflection point and batteries will play a critical role ahead -- batteries and related components typically constitute 35-45 per cent of an EV's costs.
'In the larger cities, we can see that 12%-20% of the population making use of the metros. I don't think it is happening in the smaller cities.'
Automobile retail sales in India rose 11 per cent in September as better supplies from manufacturers enabled dealers to ramp up customer deliveries amid the ongoing festive period, Federation Of Automobile Dealers Associations said on Tuesday. Last month, total retail sales stood at 14,64,001 units as compared to 13,19,647 units in September 2021. FADA noted that October is expected to witness even better overall sales due to the festive season further gathering steam.
Domestic car sales went up by 15.89 per cent during December 2002 as auto-makers like Maruti, Hyundai, Tata Engineering and Honda witnessed increased demand during the month.
The Indian economy is likely to post better than anticipated growth in the second quarter (July-September) owing to robust urban consumption and expansion in services, a Business Standard analysis of high-frequency indicators showed. While gross domestic product growth in the September quarter is expected to come below the 7.8 per cent print in the June quarter due to a favourable base fading, analysts say the print will be much closer to 7 per cent than the 6.5 per cent anticipated earlier. While the Reserve Bank of India (RBI) had estimated 6.5 per cent growth for July-September, last month Governor Shaktikanta Das said the growth figure would surprise on the upside.
India's largest two-wheeler maker by volume - Hero MotoCorp (Hero) - posted a better-than-expected operating performance in the January-March (fourth quarter, or Q4) quarter of 2022-23 (FY23). Riding on higher average selling prices which were up 5 per cent year-on-year (YoY) and volume growth of 7 per cent, the company registered a 12 per cent growth in revenue to Rs 8,306 crore. The company sold 127,000 units in the quarter, largely driven by domestic sales which were up 11.6 per cent, while exports saw a sharp fall of 57 per cent over the year-ago quarter.
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