Page 11 - Auto Sales

M&M total sales jump 17% at 75,604 units in September, PV sales up 20%

Mahindra & Mahindra Ltd on Sunday reported a 17 per cent year-on-year growth in overall auto sales at 75,604 units in September 2023. Passenger vehicles sales were at 41,267 units last month as against 34,508 units in September 2022, a growth of 20 per cent, M&M said in a statement. The company further said its utility vehicles sales were at 41,267 units as against 34,262 units in the year-ago month, up 20 per cent. M&M had nil sales of cars and vans last month although it sold 246 units in the category in September 2022. "While demand for our key SUV brands continues to be strong, we are keeping a close watch on the availability of semi-conductors and select components to meet the strong festive season demand," M&M President, Automotive Division, Veejay Nakra said. M&M said its total exports declined 5 per cent last month at 2,419 units as compared to 2,538 units in September 2022.

M&M offering discount of up to Rs 1.25 lakh on XUV400, Bolero, XUV300

However, there are no discounts on Mahindra's more famous cars, such as Thar, Scorpio N, and XUV700

Auto sales up 9% in August, PV inventory at an all-time high: FADA

Adopting a cautious stance for the near-term outlook, FADA said that low rainfall may impact rural auto demand during the upcoming festive season

M&M August sales up 19% overall, automaker reports 26% growth in SUVs

Farm equipment sales see 3% growth, while exports drop by 26% YoY; 3-wheeler sales up 47%

MG Motor India August retail sales rise 9% YoY, reach 4,185 units

MG Motor India on Friday reported a 9 per cent year-on-year increase in retail sales at 4,185 units in August. The automaker had sold 3,823 units in August 2022. The carmaker is gearing up and building further on the current momentum in the festive season, MG Motor India said in a statement. The company is readying the introduction of the Black Edition of its mid-sized SUV Astor, it added.

Stocks to Watch today, Sept 1: RIL, Vedanta, LIC, Five Star Business, Autos

Stocks to Watch today, September 1, 2023: Vedanta ran a "covert" lobbying campaign to weaken key environmental regulations during the Covid-19 pandemic, the OCCRP said in an article on Thursday

IEMC demands continuation of incentives for EV sector to maintain sales

Industry body IEMC on Thursday demanded continuation of incentives given to electric vehicle sector and cautioned that the withdrawal of sops would reduce EV sales to 37 million units by 2030 from estimated 125 million. According to India Electric Mobility Council (IEMC), India Energy Storage Alliance (IESA) has estimated that on discontinuation of the demand incentives, the electric vehicles (EV) sales in India will reduce from estimated 125 million units to 37 million units by 2030. The central government launched the FAME (faster adoption and manufacturing of hybrid and electric vehicles) scheme in 2015, under which subsidies are given to electric vehicle manufacturers and the benefit is passed on to buyers. The second phase of the scheme FAME II was launched in 2019. The scheme, which also provides incentives for setting up battery charging stations in the country, is likely to end in March next year. "...to ensure sustained growth of EV adoption in India, more than 80 EV ...

Auto retail sales up 10% in July; three-wheelers at record pace: Fada

Month-on-month, sales down for all vehicle categories, except three-wheelers, mainly due to rains

Stocks to Watch on Aug 1: Adani Total, PVR Inox, Maruti, ITC, SBI, autos

Stocks to Watch on Tuesday, August 1, 2023: The Board of ITC will meet on August 14 to announce Q1FY24 results, and consider the Scheme of Arrangement for the demerger of Hotels Business

Royal Enfield's Hunter 350 bike sales cross 200K-mark in 11 months

'Most popular' product launched in mid-size motorcycle segment, says company

China's auto sales rise 8.8% in first half of 2023, but growth is fading

China's auto sales rose 8.8 per cent over a year earlier in the first half of 2023 as electric vehicle purchases surged, but growth is fading as an economic rebound following the end of anti-virus controls cools, an industry group reported Tuesday. Sales of SUVs, sedans and minivans rose to 11.3 million, decelerating from 2022's 9.5 per cent growth, according to the China Association of Automobile Manufacturers. Total vehicle sales including trucks and buses rose 9.8 per cent to 13.2 million. CAAC earlier forecast this year's annual sales growth might fall to as low as 3 per cent. Global automakers look to China to propel sales growth as US and European demand flattens and are pouring billions of dollars into developing electrics to meet government sales quotas. They face growing competition from Chinese brands that are developing rapidly, taking market share and starting to compete with global majors in their home markets by exporting to Europe and Japan. China's economic growth

Auto retail sales touch 1.86 million in June, 10% more than last year: FADA

'New model introductions, festive promotions, seasonal factors couldn't markedly boost sales'

Suzuki Motorcycle India's sales jump 18.7% at 80,737 units in June

Suzuki Motorcycle India Pvt Ltd on Monday reported an 18.7 per cent year-on-year growth in total sales at 80,737 units in June. The company had sold 68,018 units in June 2022, Suzuki Motorcycle India Pvt Ltd (SIMPL) said in a statement. SIMPL, Executive Vice President, Sales, Marketing and After Sales, Devashish Handa said the June sales growth reflected robust demand in domestic and overseas markets.

VE Commercial Vehicles reports 6.5% rise in sales at 6,715 units in June

VE Commercial Vehicles Ltd on Monday reported a 6.5 per cent growth in sales at 6,715 units in June 2023. The company, a joint venture between the Volvo Group and Eicher Motors, had sold 6,307 units in June 2022, VE Commercial Vehicles (VECV) said in a statement. Eicher branded trucks and buses recorded sales of 6,527 units last month as against 6,185 units in June 2022, a growth of 5.5 per cent, it added. In the domestic market, sales of Eicher branded trucks and buses grew by 12.4 per cent to 6,277 units as compared with 5,584 units in the corresponding month last year. Exports of Eicher branded commercial vehicles were at 250 units last month, down from 601 units in the year-ago period. Volvo trucks and buses recorded sales of 188 units in June 2023 over 122 units in June 2022, representing a growth of 54.1 per cent, the company said.

Ashok Leyland June total sales up 5% at 15,221 units, CV sales jump 10%

Commercial vehicles maker Ashok Leyland on Monday reported a 5 per cent rise in total vehicle sales in June at 15,221 units. In the year-ago period, total vehicle sales of the company stood at 14,531 units. Total domestic sales were higher by 7 per cent at 14,363 units as against 13,469 units a year ago, the company said in a statement. Domestic medium and heavy commercial vehicle sales were at 9,274 units as compared to 8,399 units in June last year, a growth of 10 per cent, it added. Sales of light commercial vehicles in the domestic market marginally increased to 5,089 units from 5,070 units in June 2022, the company said.

TVS Motor Company reports 3% jump in its total vehicle sales in June

The sale of its electric scooter, TVS iQube Electric, recorded a 209 per cent jump

Bajaj Auto reports 2% decline in total June sales to 340,981 units

On a year-to-date (YTD) basis, however, the company reported a 10% rise in sales

Auto cos post record sales for May amid better chip supply, high SUV demand

The domestic auto industry's bookings rose 10 per cent in May year-on-year, while the number of enquiries jumped 17 per cent in May year-on-year

Passenger vehicle dispatches jumped 13% to 331,278 units in April: SIAM

Two-wheeler dispatches increased by 15% to 1,338,588 units in April

EV push, pent-up demand: Why auto exports fell in April amid healthy sales?

According to experts, it may take some time for auto exports to touch 2016 peak numbers