Page 7 - Auto Demand

Amara Raja Batteries Q1 profit doubles to Rs 167 crore

Amara Raja Batteries Ltd (ARBL) on Saturday reported profit before tax of Rs 167 crore in Q1 FY22, nearly double from Rs 84 crore in the same period of previous fiscal.Revenue stood at Rs 1,886 crore as compared to Rs 1,151 crore in the same period. Earnings per share for Q1 FY 22 work out to Rs 7.26.Even as the current quarter was impacted by lockdowns due to pandemic, the aftermarket demand across product segments in both automotive and industrial segments remained strong.The company said automotive business revenue grew on the back of strong growth in exports and OEMs compared to last year. In the industrial business, both telecom and UPS applications registered strong YoY growth."While the uncertainties due to second wave of Covid and the resultant lockdowns are creating unpredictability in the product off take, we are focused on ensuring the product availability across all market segments by calibrating manufacturing operations and supply chain dynamically," said Jayadev Galla, ..

Automobile dealers see sales recovering in 2 months as states unlock

Walk-ins 'very less' as approximately 40 per cent of 26,000 automobile dealerships resume work.

Car prices 'fairly stable' in short term; demand to rise: VW official

Prices of cars are likely to remain "fairly stable" in the short term as the second Covid wave has more or less balanced the demand-supply situation according to a senior official at Volkswagen India

Domestic auto sales in India go below 2015 levels amid Covid-19 crisis

The situation was not very different globally

Bajaj puts brakes on bookings of e-scooter Chetak due to high demand

Attributes move to supply chain uncertainties, receives 'overwhelming' response for model

Financiers buy into India's used car business amid uptick in demand

An expansion of demand driven by economic uncertainty has accelerated the plans of organised players to tie up with banks and NBFCs

Citroen C5 Aircross SUV set to launch today: Here's all you need to know

The 5-seater premium SUV can be ordered online or through Citroen's dealership.

Triumph Trident 660 set for India launch today: Check details here

The booking for Triumph's middle-weight street bike started in November 2020 and it will be available in India roads after April 6

Low base, recovery in demand drive March auto sales into fast lane

Maruti Suzuki, India's largest carmaker, reported a near 100 per cent jump in sales in March at 167,014 units against just 83,792 units last year

Honda Motorcycle & Scooter India posts 395,037 unit domestic sales for Mar

Honda Motorcycle & Scooter India (HMSI) on Thursday reported domestic sales of3,95,037 units in March this year. The company had sold 245,716 units in the same month last year when sales were impacted by coronavirus-induced lockdown. Exports stood at 16,000 last month, HMSI said in a statement. The company said it closed FY21 with total sales of 4,073,182 two-wheelers, including domestic sales of 38,65,872 units and exports of 2,07,310 units. HMSI Director (Sales and Marketing) Yadvinder Singh Guleria said, "FY2020-21 was a year of unprecedented uncertainties. Honda resiliently overcame challenges from lockdowns to unlocks.

Used car market sees a continued interest from buyers amid Covid-19

2020 saw incremental growth for 1st-time car buyers, category up 3% for Maruti

From Hyundai's Creta to Kia's Seltos, SUVs drive auto recovery in February

Their popularity suggests that the market has travelled beyond the search for value-for-money

Tata Motors sees CV industry growth at over 30% next fiscal

Homegrown auto major Tata Motors expects the commercial vehicles industry to grow over 30 per cent in the next fiscal on the back of cyclical demand uptick and overall recovery of economic activity, according to a top company official. The company, which on Thursday launched its latest range of intermediate and light commercial trucks (I&LCV) - the Ultra Sleek T-Series with price starting from Rs 13.99 lakh (ex-showroom Delhi), is also seeking to cash in on the return of demand and enhance its market share in the segment. "One can now say that the economic recovery is well and truly in place and we see the last quarter GDP growth has been positive. The same thing is expected this year. Next year also both the government and RBI have given projections that the GDP should grow in double digits," Tata Motors President Commercial Vehicle Business Unit, Girish Wagh told reporters in a virtual conference. He further said, the commercial vehicles (CV) industry is very closely linked to ..

Auto sales stay in the fast lane in February, but industry cautious

Automakers say further hike in fuel prices could dent consumer sentiment

Luxury carmakers rev up in India, plan over 50 new models after Covid pain

With over 50 new launches this year, super-premium marques are taking a calculated bet on the Indian market that touched a decadal low in 2020

Second-hand car business on high speed in India amid Covid-19 pandemic

The pandemic has accelerated the second-hand car business to the point of a demand-supply imbalance

Sustainability vs profitability: Auto companies walking a tightrope

Prices of key commodities, including steel, rubber, rhodium and platinum have seen a jump. Passing on the full cost increase may not be prudent as it may dissuade buyers

Demand, dip in market share, profit margin weigh on Maruti Suzuki

Valuations factor in the volume rebound, leaving little upside from the current levels

Auto manufacturers stare at supply outages amid shortage of semi-conductors

Mahindra and Mahindra is one of the firms that Bosch counts as a key customer. In a late evening notification to the stock exchange

Fitch now expects lower GDP contraction in India at 9.4% for FY21

Says Covid vaccines aren't likely to reach majority even in a year, Cautions against weak balance sheets, challenges in financial sector