Page 4 - Auto Demand

Auto retail sales in India grew 21% in December, 11% in 2023: Fada

In the near term and short term, the outlook of auto sales remains positive, despite an anticipated slowdown in the Kharmas period from December 16 to January 15

Consumers moved away from diesel vehicles in 2023; EV, hybrid sales rise

SUVs, on the other hand, are likely to grow up to 54-55 per cent from a current level of 48.7 per cent. It has already grown from 42 per cent in 2022 to nearly 49 per cent in 2023

HP govt restricts departments from buying diesel-petrol vehicles from Jan 1

Chief Minister Sukhvinder Singh Sukhu has directed government departments not to buy diesel and petrol vehicles from January 1, 2024, according to a statement. This will promote e-vehicles and help the state achieve the goal of 'Green and Clean Himachal', it said. In case a department wants to purchase a diesel or petrol vehicle it will have to seek the approval of the state cabinet, it said. "In an initiative to achieve the goal of 'Green and Clean Himachal', Chief Minister Thakur Sukhvinder Singh Sukhu has directed all government departments not to buy diesel or petrol vehicles from January 1st, 2024," the statement said. The chief minister said the number of government e-vehicles has reached 185 and that of private e-vehicles registered in the state at 2,733 thanks to the consistent efforts of the government. "Our government is promoting e-vehicles in Himachal in a big way. The Transport Department becomes the first department to replace its official vehicle fleet with e-vehicl

Year ender 2023: Top auto launches of the year and what to expect in 2024

In 2023, Maruti Suzuki launched the Baleno-based crossover, Fronx, Brezza's facelift, and an all-new Grand Vitara in the SUV space and grabbed more than 50% share of the segment

Toyota's global output surges 11% in Nov, sees record high on strong demand

Domestic sales for the month shot 27% higher, sales in both the United States and China increased by 17%, while those in Europe climbed 15%

Top gear: Two-wheelers lead the line for auto festival sales this year

The Federation of Automobile Dealers Associations (FADA) data showed a 19 per cent growth in auto sales during the 42-day festival period in 2023

MG Motor India retail sales increase by 2% to 4,154 units in November

MG Motor India on Friday said its retail sales increased by 2 per cent to 4,154 units in November 2023. The automaker had sold 4,079 units in November 2022. EV sales continued to account for around 30 per cent of the total vehicles sold last month, MG Motor India said in a statement. The recent collaboration with Charge Zone reasserts the focus of the company on boosting EV infrastructure and it has so far established a network of more than 12,000 chargers across the country, it added.

Carmakers shift into overdrive with extended festival season deals

An industry source added that the sector is fearing lower sales in November and December

FMCG supply chain gridlock: Demand declines and inventory adds up

The situation remains the same even in central India as inventory days have gone up to 20 days which was lower earlier

Oct auto retail sales dip 8% due to Shraddh period; Navratri sales up 18%

Navratri of 2023 marked a milestone, with retail sales soaring by 18 per cent year-over-year, surpassing the figures of Navratri 2017

Honda Cars posts 17% increase in total sales to 13,083 units in October

Honda Cars India on Wednesday posted a 17 per cent increase in total wholesales at 13,083 units in October. The company had dispatched 11,221 units in the year-ago period, the automaker said in a statement. Domestic sales stood at 9,400 units last month as against 9,543 units a year ago. Exports grew to 3,683 units last month as against 1,678 units in October last year, it added. "There is a strong demand during the festival period with incredible response for our new model Elevate from our customers. We are actively working to meet the strong demand for the model," Honda Cars India Director (Marketing and Sales) Yuichi Murata said. The City and Amaze models have also maintained their good performance, he added. "As we near the auspicious celebrations of Dhanteras and Diwali, our dealerships are focusing on maximising deliveries to our esteemed customers," Murata said.

Amid strong festive demand, car dispatches likely to make new record in Oct

Car sales have broken the sales record for a third straight month in October

KPIT Technologies Q2 results: Net profit zooms 69% at Rs 141 crore

Auto industry-focused KPIT Technologies on Monday reported a 69.21 per cent jump in its September quarter net profit at Rs 141 crore. The Pune-headquartered company had reported a post tax profit of Rs 83.5 crore in the same quarter a year ago. Its revenues from operations grew to Rs 1,199 crore in the reporting quarter as against Rs 745 crore in the same period a year ago and Rs 1,098 crore in the preceding April-June quarter. The company said it is now aiming to close FY24 with a growth of 37 per cent in revenues on a constant currency basis, as against the earlier target of 27-30 per cent. It was able to maintain the operating profit margin at 20 per cent in the quarter, which led the company to improve its guidance of keeping the number at over 20 per cent in FY24, from 19-20 per cent projected earlier. The company reported new deal wins of USD 156 million during the quarter, including a multi-year engagement on autonomous driving with a European car manufacturer and some work

Two-wheeler sales back on track; analysts expect 8-12% growth in FY24

Industry experts are hoping for better numbers during the festive period's sweet spot, set to unfold over the next 42 days

Auto workers shut down Ford's largest factory, threaten Stellantis

The United Auto Workers union significantly escalated its walkout against Detroit's Three automakers, shutting down Ford's largest factory and threatening Jeep maker Stellantis. In a surprise move on Wednesday night, 8,700 members left their jobs at Ford's Kentucky truck plant in Louisville. And Thursday morning, union President Shawn Fain hinted at further action against Stellantis. Here's to hoping talks at Stellantis today are more productive than Ford yesterday, Fain wrote on X, formerly Twitter, without saying what might happen. Ford's truck plant makes heavy-duty F-Series pickup trucks and large Ford and Lincoln SUVs, hitting the company's most lucrative products. The vehicles made at the plant generate USD 25 billion per year in revenue, the company said in a statement. Fain said in a statement that the union has waited long enough but Ford hasn't gotten the message to bargain for a fair contract. If they can't understand that after four weeks, the 8,700 workers shutting dow

Passenger vehicle sales race to new high, GST mop-up above Rs 1.6 trillion

He pointed out that the year-on-year growth in September appeared somewhat "muted", primarily attributed to the substantial base effect

Steel firms prep for festivals, see demand by auto, consumer goods sectors

Bookings by the two industries 20% higher ahead of the festive season compared to last year, says one expert

Demand, strong SUV off-take propel domestic PV sales to record high in Aug

Domestic passenger vehicle sales hit a record in August led by highest-ever monthly dispatches from Maruti Suzuki on the back of festive demand and the continued strong offtake of SUVs. Hyundai Motor India, Mahindra & Mahindra and Toyota Kirloskar Motor also reported strong dispatches to dealers last month. Tata Motors, however, saw a dip in domestic passenger vehicle sales in August. "The month of August was a very good month for the industry. Passenger vehicle sales in August stood at 3,60,897 units. This is the highest ever monthly sales in any month in any year in the industry," Maruti Suzuki India (MSI) Senior Executive Officer (Marketing & Sales) Shashank Srivastava said. The previous highest for the industry was 3,55,400 units reported in September 2022, he added. The industry wholesales last month grew by 9.7 per cent to 3,60,897 units as compared with 3,26,980 units in August 2022, Srivastava said. In the April-August period, the industry sales crossed the 17 lakh ...

Tata Motors leads Indian EV market with a market share of 72%: Canalys

The sales of EVs in India jumped 137 per cent to 48,000 units in HICY23 as compared to H1CY22

SAMIL to acquire 81% stake in Honda Motor arm for Rs 1,059 crore

The Noida-based automotive (auto) parts maker said it expected this deal to close by the first quarter of 2024-25