Page 5 - Auto Sales

How Mercedes-Benz retains its crown in India's luxury car segment

For the first time in history, the luxury car market is poised to cross the sales mark of 50,000 units in 2024, with Mercedes-Benz leading the way

Car sales drop by 14% in November, two-wheelers see 16% jump: Fada

Tractor sales, however, saw an impressive 29.88 per cent Y-o-Y jump, suggesting good rural demand

Skoda targets sales surge in 2024 with new compact SUV Kylaq launch

Czech automaker Skoda is eyeing considerable increase in sales next year riding on the back of its latest offering Kylaq, which marks its entry into the high-selling compact SUV segment. The company is eyeing gains in smaller cities and towns with the new model which is tagged between Rs 7.89 lakh and Rs 14.4 lakh (ex-showroom). "It's a beginning of a new era for Skoda, because with this car, we are becoming a true volume player in India," Skoda Auto India Brand Director Petr Janeba told PTI in an interaction. He noted that Kylaq will further its goal of entering new markets, bringing new customers into the Skoda family and strengthening brand presence in India. When asked about sales aspirations with a new model joining the portfolio, Janeba said the company expects to close 2024 with a total volume of around 40,000 units. "Next year we are looking at 2.5-3 times growth in the volumes aided by Kylaq," he stated. The company has commenced bookings of the model with deliveries exp

Nuvama bets on M&M, TVS Motor & Uno Minda ahead of November auto sales data

On the bourses, M&M has gained about 6% over the past month, while Uno Minda has surged more than 6%. On the flipside, TVS Motor dropped over 1%. In comparison, BSE Auto index declined nearly 2.5%

Mercedes-Benz India to raise prices by up to 3% from 2025: CEO Santosh Iyer

German luxury carmaker Mercedes-Benz on Friday said it will hike prices of its vehicles in India by up to 3 per cent on its entire model range in the portfolio from January 1, 2025, citing a rise in input costs, inflationary pressures and higher operational expenses. Prices of Mercedes-Benz cars in India will be revised by Rs 2 lakh for the GLC to Rs 9 lakh for the top-end Mercedes-Maybach S 680 luxury limousine, Mercedes-Benz India said in a statement. The combination of rising input costs, inflation, and higher operational expenses has been exerting considerable pressure on Mercedes-Benz India's business operations and the company has been absorbing the rise in operational cost since the last three quarters, it added. "Over the past three quarters, we have been facing increased pressure on our cost structure primarily driven by escalating material cost, fluctuating commodity pricing, increased logistics expenses and inflationary cost," Mercedes-Benz India Managing Director & CEO

Hero MotoCorp Q2 preview: Net profit may surge up to 11%, revenue by 9% YoY

Domestic brokerages expect Hero MotoCorp to show strong year-on-year (Y-o-Y) growth in revenue and profitability, driven by volume increases, improved realisations, and a favourable product mix

M&M Q2 Preview: Operating profit may climb up to 31% YoY; revenue eyed

Brokerages anticipate robust revenue growth driven by improved volumes and realisations, with mixed expectations on margin performance across segments

Two-wheeler sales soar in October; TVS, Hero MotoCorp lead the charge

India's motorcycle manufacturers also saw encouraging growth in export markets this October

Record SUV sales in October pushes M&M shares 5% higher on Nov 4; details

The rise in M&M share price came after the company saw record monthly SUV sales in October, which rose 25 per cent year-on-year (Y-o-Y) to 54,504 units, from 43,708 units in October 2023

PV wholesale up by 2% in Oct; retail sales posts 20% rise on festive push

Industry leaders Maruti Suzuki India and Tata Motors saw a decline in domestic wholesale sales of 5 per cent and 0.4 per cent, respectively

Auto sales see mid-to-high single-digit growth during Navratras; rural lag

Retail sales during the Navratras grew by mid-to-high single digits across regions even as rural sales have remained muted, a brokerage firm said in a report on the automobile sector on Thursday. The report by Motilal Oswal Financial Services also said that during the last week of October, inquiries and bookings are seeing a slight improvement for passenger vehicle OEMs (original equipment makers) especially for Maruti Suzuki and Tata Motors. "We observed varied demand trends in October, with two-wheelers and tractors showing positive momentum and passenger and commercial vehicles witnessing moderate demand. A better monsoon is helping drive positive sentiment in rural regions, though the sustainability of this demand remains to be seen," the brokerage firm said. Overall, two-wheelers performed better, with festive growth expected at 4-5 per cent year-on-year partially constrained by a high base, it said. At the same time, passenger vehicles may see a fall in the festive season ...

Bajaj Auto leads EV sales in Sep; Ola remains biggest player in e2W space

Ather Energy, with the launch of Rizta electric scooter, has increased its market share to 14.2 per cent

PV sales dip 1.8%, two-wheeler sales grow 9.3% in August: Siam data

According to Siam, total production of passenger vehicles, three-wheelers, two-wheelers, and quadricycles in August 2024 stood at 2.49 million units

Some moderation in PV sales growth 'very natural': Hyundai India COO Garg

As car demand slows in India, dealer stock levels across the entire industry have surged to alarming heights. Garg, however, indicated that the situation is under control at HMIL

With 45% growth, momentum expected to continue even in 2025: Toyota

TKM's sales boom comes at a time when other car companies are seeing a slowdown amid low demand and high inventory with dealers

Pritika Group eyes Rs 950 cr sales in 3 years with order book of Rs 650 cr

Engineering and automotive components maker Pritika Group is eying Rs 950 crore sales in next three years on the back of strong order book of Rs 650 crore. This growth plan is driven by rising demand in the engineering and automotive components industry, a company statement said on Monday. "We target to achieve sales of about Rs 900 crore to Rs 950 crore, with a PAT (profit after tax) margin of 7-10 per cent in the next three years," said Harpreet S Nibber, Managing Director, Pritika Engineering Components Ltd. Building on a strong performance in financial year 2023-24 and a robust start in the April-June quarter of FY25, the company aims to capitalize on the rising demand in the engineering and automotive components industry, he added. Pritika Group has demonstrated strong financial performance in the past fiscal year, FY2023-24, it said. Pritika Auto Industries Ltd reported a consolidated total income of Rs 343.71 crore in the last fiscal, a year-on-year growth of 15.74 per cent

Decline in rural auto sales prompts banks to offer festive season deals

India's auto sector, burdened with Rs 80,000 crore in inventory, sees declining tractor sales post-harvest, leading lenders to exercise caution

Weak auto sales, rising costs may hit ancillary cos in near-term: Analysts

High valuations, cautious sentiment challenge PV and commercial vehicle firms

With low sales, auto dealers worry about offering further discounts

The double whammy of higher inventory costs and deeper discounts is a nightmare for auto dealers as that has a direct impact on their profit margins

Auto Bet: Bajaj, M&M, Escorts Kubota may lead August sales, says Nuvama

Within the 2W segment, analysts believe, mass-market original equipment manufacturers (OEMs) such as Honda, Hero Moto Corp, Bajaj Auto, and TVS are anticipated to perform well.