Page 8 - Auto Sales

Hinduja's Ashok Leyland witnesses 3% decline in total sales in November

Hinduja Group flagship company Ashok Leyland has witnessed a 3 per cent decline in its sales in domestic and overseas markets by selling 14,053 units in November, the company said on Friday. The city-based commercial vehicle maker sold 14,561 units during the corresponding month of last year. Sales of medium and heavy commercial vehicles slipped by 10 per cent in domestic and overseas registering 8,500 units in November 2023, as against 9,474 units sold in the same month of last year. However, the total number of light commercial vehicles sold in domestic and overseas grew by 9 per cent to 5,553 in November this year from 5,087 units sold in November 2022. The cumulative sales till November 2023 rose by 7 per cent, to 1,22,092 from 1,14,370 units sold in the same month of last year. The cumulative sales of medium and heavy commercial vehicles as of November grew by 8 per cent to 76,936 units as compared to 71,356 units sold in the same month of last year. Light commercial vehicl

Mahindra sales rise 21% to 70,576 units in November, export declines

Mahindra & Mahindra on Friday said its total wholesales increased by 21 per cent year on year to 70,576 units in November. The Mumbai-based automaker had dispatched 58,303 units in November 2022. Utility vehicle dispatches stood at 39,981 units last month, an increase of 32 per cent over 30,238 units in the year-ago period, Mahindra & Mahindra (M&M) said in a statement. Exports, however, declined 42 per cent last month to 1,816 units as compared to 3,122 units in November 2022. "We continue our growth trend, backed by strong demand for our SUV portfolio...While we saw a healthy festive season, we faced supply challenges on select parts during the month. We are keeping a close watch and taking appropriate steps to mitigate the challenges," M&M President Automotive Division Veejay Nakra said. M&M said its tractor wholesales stood at 32,074 units in November as compared to 30,528 units in the year-ago period. Exports, however, declined to 1,005 units last month from ..

Carmakers shift into overdrive with extended festival season deals

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

Passenger vehicles, 3-wheelers report highest ever sales in October: Siam

The domestic sales for all vehicles in India were up 20% to 2,314,197 units in October this year as compared to 1,923,721 units last year

Tata Motors Q2 result: Auto major reports net profit of Rs 3,764 crore

Tata Motors said it remains optimistic about its performance due to a strong product pipeline, a seasonally stronger H2 and continued focus on cash accretive growth

Hero MotoCorp reports 26% jump in total sales to 574,930 units in October

Hero MotoCorp expects the demand to remain optimistic on the back of the recent product launches in the premium segment and the ongoing festive season

Toyota Kirloskar Motor reports 66% jump in sales in October to 21,879 units

Earlier this year, media reports stated that Japanese auto major Toyota is looking to set up a third manufacturing plant in India

M&M reports highest-ever SUV, commercial vehicle monthly sales in October

In the utility vehicle segment, Mahindra recorded the highest sales for the fourth consecutive month

India recorded flat car and SUV sales in Navratri this year: Report

Between Shraadh and Navratri this year, the total car sales were around 330,000 units, 16% higher than 283,000 last year

Auto retail sales up 9% in H1FY24; PVs, three-wheelers steal the show

Both three-wheelers and passenger vehicles witnessed their record H1 numbers during the period

Indian auto sales surge 20% in September, despite slump in tractors

Positive market sentiment fuelled by favourable monsoon leads to growth in most categories, but high inventory levels raise concerns for dealers as festive season approaches, FADA data shows

Tata Motors global wholesales up 7% in Q2, Jaguar Land Rover drives growth

Company sequentially posted a 6.3% rise in group global wholesales

Eicher Motors September sales: Total sales down 5%; YTD business up 16%

Sales of models with engine capacity up to 350cc also went down by about 5% as the sales went down from 74,206 units in September 2022 to 70,345 in September 2023

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 ...