Page 43 - Auto Sector

Car sales drop again after festive season; industry pins hope on Dec demand

Maruti Suzuki reported sales of 150,630 passenger vehicles in the domestic market in November, down 1.9 per cent over 153,539 units in the corresponding month last year

Auto-tech startups pave new road to growth even as sector suffers slowdown

The Indian car rental industry has grown at a CAGR of 24.6% during 2015-19 as new-age millennial consumers prefer experiences over ownership

BSVI emission norms: Toyota to phase out Etios, Liva by April 2020 in India

Mumbai, 21 NovemberThe Toyota Etios sedan, Etios Cross and Liva hatchback could hit the end of the road once the stringent BS-VI emission norms take effect from April.The high cost of switchover and low volumes have, aver informed souces, prompted Toyota Kirloskar Motor (TKM) to pull the plug on its mass segment models. Now on, Toyota is unlikely to make any model on its own for the mass segment here -- it might instead source from Suzuki's India subsidiary and re-badge these. A spokesperson at Maruti Suzuki India declined to comment. A spokesperson at TKM said the company would "refrain from commenting on the specifics as it pertains to future product plans". Adding that the company was "closely monitoring customer needs and trends" in trying to bring products suitable for the Indian market. In India, as part of the broader agreement between the two Japanese parent entities, Toyota sells the Suzuki Baleno as the rebadged Glanza. It plans to add to its line-up with the re-badged ...

Festive sales help passenger vehicles snap 11-month declining streak in Oct

UV launches, steep festival discounts bolster sales

Icra downgrades its outlook on automotive dealership sector to negative

The muted industry scenario has stressed credit profile of dealers, especially those of new entrants and, has forced some dealerships to shut down as well, he added.

Indian car buyers less price-conscious, prioritise style instead: Study

Indian car buyers' attitude is changing from price consciousness to those that are driven by vehicle looks and content as they give more emphasis on styling, according to a study by JD Power. As per the study by the global consumer insights and advisory services provider when it comes to sales satisfaction Hyundai ranked the highest followed by Mahindra & Mahindra and Toyota. Stating that customers' priorities have shifted from functionality to form, the JD Power 2019 India Sales Satisfaction Index noted that buyers are placing more emphasis (up 9 percentage points from 2018) on vehicle styling, both exterior and interior, when deciding on a model. Other aspects such as performance and reliability (both up 7 percentage points), as well as technology (up 5 percentage points) also play bigger roles in determining choice of vehicle, it added. "On the other hand, aspects declining in importance are price of the vehicle/installments and the ability to obtain financing (both down 4 ...

Auto firms' warehouse leasing down amid vehicle sales slump: JLL India

According to JLL data, total warehousing leasing stood at 24.1 million square feet during January-September

Aluminium makers stare at consumption slowdown on auto sector stress

The prevailing economic slump and auto sector stress are likely to moderate consumption of aluminium products

Only minor Diwali revival for auto sector, expect no fireworks, say experts

At present, the auto industry is facing a severe demand slowdown on account of high GST rates, farm distress, stagnant wages and liquidity constraints

$8 bn fund manager Axis Mutual Fund adds battered auto stocks to portfolio

The S&P BSE Auto Index has declined 14 per cent so far this year

Car parts supplier Brose to cut 2,000 German jobs as auto sector struggles

Brose Group is a family-owned company and employs 26,000 workers globally.

Truck market: Amid falling sales, mileage, ownership cost claims reign

Sales of Mahindra's heavy trucks dropped to 3,427 units in the eight months from April to September

Q2 earnings preview: Low demand, high discounts may hit auto players

Owing to a weak festive season coupled with the challenges related to the switchover to BSVI norms, analysts expect pain for the auto firms to linger on for the reminder of the financial year

Auto sector needs a bigger boost: Nissan's new COO Ashwani Gupta

Those who worked with Gupta recall that his success at the top becomes evident as he prefers to lead from the front.

Luxury auto segment is down by over 20%: BMW Group India CEO Rudratej Singh

Last year, the company sold a little over 10,000 BMW cars, said Singh

Auto cos face structural issues, affordability a problem: Toyota Kirloskar

Kirloskar said while the government has done a lot of things such as increasing and improving roads,"Some things they have done, which I believe have created headwinds for auto sector."

Consumer sentiment to remain subdued; banks may re-rate: Vinay Paharia

While previous concerns such as domestic as well as global economic slowdown continue to remain, valuations have become attractive due to the improvement in the underlying fair value.

Maruti to Tata, festive season fails to help passenger vehicle sales

Major automobile makers, including Maruti Suzuki, Hyundai, Mahindra & Mahindra, Tata Motors, Toyota and Honda, on Tuesday reported double digit declines in domestic passenger vehicle sales in September as onset of the festive season failed to lift the ongoing slump in the auto industry. The country's largest carmaker Maruti Suzuki India said its domestic sales declined by 26.7 per cent at 1,12,500 units last month as against 1,53,550 units in September 2018. Sales of mini cars comprising Alto and WagonR stood at 20,085 units as compared to 34,971 units in the same month last year, down 42.6 per cent. Sales of compact segment, including models such as Swift, Celerio, Ignis, Baleno and Dzire, fell 22.7 per cent at 57,179 units as against 74,011 cars in September last year. The firm's mid-sized sedan Ciaz sold 1,715 units as compared to 6,246 units earlier. Similarly, sales of utility vehicles, including Vitara Brezza, S-Cross and Ertiga, declined marginally at 21,526 units as ...

Turning disruption into growth

Concerted actions across all stakeholders could create a unified push for a thriving automotive industry

Automakers may offer incentives to customers for scrapping old vehicles

Govt proposes manufacturers should bear the burden of discounts to push new CVs