Page 51 - Automobile Industry

Passenger vehicle wholesales surge 92% in Sep on robust festive demand

Riding on the back of strong festive season demand, passenger vehicle wholesales in India increased 92 per cent to 3,07,389 units last month, as compared to the same month last year, auto industry body Society of Indian Automobile Manufacturers said on Thursday. Passenger vehicle (PV) dispatches from factories to dealerships in September 2021 stood at 1,60,212 units. As per the latest data by the Society of Indian Automobile Manufacturers (SIAM), two-wheeler sales also rose 13 per cent to 17,35,199 units, as compared to 15,37,604 vehicles in September 2021. Motorcycle sales rose 18 per cent to 11,14,667 units, as against 9,48,161 units in September 2021. Scooter sales were up 9 per cent to 5,72,919 units, from 5,27,779 vehicles a year ago. In the September quarter, PV sales increased by 38 per cent to 10,26,309 units, as against 7,41,442 units in the similar period of the last fiscal. Similarly, total two-wheeler sales rose 13 per cent to 46,73,931 units, as compared with 41,36,4

Bajaj Auto Q2 preview: Ebitda may rise up to 34% YoY, margins seen flat

Bajaj Auto Q2: Brokerages tracking the company expect it to report a double digit sequential growth in net profit on the back of healthy volume-based sales during the quarter

Results preview: Strong operational show to drive Q2 for auto firms

Easing chip supply, demand for premium models and price hikes at play

Auto sales up 57% during Navratri as all categories put up strong show

Overall sales were also 27% higher than Navratri 2020 and 16% above the pre-pandemic season in 2019; trend seen continuing till Diwali

Nissan Motor pushes partner Renault to sell down stake, may raise funds

Asks French firm to cut stake to 15%

Domestic PV sales see record jump in Sept with onset of festival season

The sales figures released by the top nine carmakers saw a jump of 89.6 per cent to 306,211 units

Maruti Suzuki's domestic sales more than doubles to 148,380 units in Sept

The sales of Maruti Suzuki's utility vehicles -- Brezza, Ertiga, S-Cross, XL6 and Grand Vitara -- have increased from 18,459 units in September 2021 to 32,574 units in September 2022

Kia clocks highest ever monthly sales in India in Sept at 25,857 units

The Korean company said its 2021 domestic sales had been surpassed in the first nine months of 2022

Why is it not a good time to buy a car?

Indian auto sector has shrugged off the pandemic blues with fancy models, especially SUVs. But if you are planning to book your car during this festive season, think again. This report tells why

Increased repo rate by RBI big dampener for auto industry, says FADA

The hike in key interest rate by RBI is a big dampener for the automobile industry particularly for the price sensitive entry-level two-wheelers and passenger vehicles segments, Federation of Automotive Dealers Associations said on Friday. The Reserve Bank of India (RBI) on Friday raised the key interest rate by 50 basis points, the fourth straight increase since May with more hikes expected to rein in inflation. The Monetary Policy Committee (MPC), comprising three members from the RBI and three external experts, raised the key lending rate or the repo rate to 5.90 per cent - the highest since April 2019. "It is definitely a big dampener for the auto industry especially for both, entry level two-wheeler and passenger vehicle segment where customers are extremely sensitive to any price hike," Federation of Automotive Dealers Associations (FADA) President Manish Raj Singhania said in a statement. Since May 2022, almost 2 per cent rates have been increased, with vehicle loan rates al

Oops! Wrong Hyundai. Govt's industrial policy misfires again with PLI gaffe

Picking the wrong Hyundai is just embarrassing. Going down a protectionist path reminiscent of the country's own, impoverished socialist past is the bigger folly

Isuzu Motors India announces roll out of 25,000 vehicles in FY23

Isuzu Motors India will roll out 25,000 vehicles this year out of its SriCity plant near, said a top company official

Maruti Suzuki drives in Grand Vitara tagged between Rs 10.45-19.65 lakh

Looking to consolidate its presence in the fast-growing mid-sized sports utility segment, Maruti Suzuki India on Monday launched its all-new model Grand Vitara priced between Rs 10.45 lakh and Rs 19.65 lakh (ex-showroom Delhi). The model, which comes with a 1.5-litre petrol powertrain mated with strong and mild hybrid technology, will compete with the likes of Hyundai Creta, Kia Seltos and Tata Harrier, among others. With Grand Vitara, the country's largest car maker expects to enhance its presence in a segment where it currently lags behind the competition. "The Grand Vitara paves the way toward a cleaner, greener, sustainable and carbon-neutral world. To ensure that we can do this, the Grand Vitara has been launched at a very competitive starting price of Rs 10.45 lakh," MSI Managing Director & CEO Hisashi Takeuchi said in a statement. The model has received over 57,000 bookings so far, he added. The 1.5 litre trims with mild hybrid technology mated with a five-speed manual and

Ola Electric to foray into international markets starting with Nepal

Ola Electric on Thursday said it plans to foray into the international markets starting with Nepal. The company said it has signed a memorandum of understanding with CG Motors in Nepal partnering them as local distributors for its Ola S1 scooters (S1 & S1 Pro). The scooters will be available in Nepal starting next quarter, the Bengaluru-based electric two-wheeler maker said in a statement. In the second phase, the company also aims to enter Latin America, ASEAN and European Union, increasing the company's presence in up to five international markets. "Our international expansion not only means that we will as a company be able to serve customers in these similar regions, but it is also testament to the fact that India will lead the EV revolution for the world," Ola Founder and CEO Bhavish Aggarwal noted. To truly take the electric vehicle revolution to the next level, India will have to be the epicenter of change, he added. The company recently unveiled an electric four-wheeler .

Volvo India sees electric cars contributing to 80% of total sales by 2025

Volvo's EV plans are in line with its global strategy of transitioning into a pure electric car company by 2030

Govt issues draft rules for car firms for mandatory rear seat belt alarm

The government has been considering enforcing the use of rear seatbelts after Cyrus Mistry, the former chairman of Indian conglomerate Tata Sons, died in a car crash recently

Merc's new EQS stays focused on luxury and comfort, EV or not

Globally, this car is priced at around $150,000 or Rs 1.2 crore; there's little surprise then that its price doubles to Rs 2.4 crore in India given the outlandish duties that CBU cars attract

Chip crunch driving used-vehicle sales, Shriram Automall revenues up 52%

Firm says pre-Covid level of sales achieved and that pre-owned vehicles are no longer a second choice

Auto industry's innovation for green alternatives need of the hour: PM Modi

Prime Minister Narendra Modi on Thursday stressed on the need for automobile industry's innovation for green alternatives to ensure protection and conservation of environment as well as help in making India self-reliant. In a written address to the annual session of the Society of Indian Automobile Manufacturers (SIAM), Modi said, "Amrit Kaal is an opportunity to achieve self-sufficiency in every sector and the automobile sector is no exception." The automobile sector has contributed to all-round development and growth of the economy through new avenues for employment generation, the Prime Minister said in his message read out by SIAM President Kenichi Ayukawa. "It is a need of the hour that the automobile industry's innovation for greener alternatives attains a new momentum, to ensure the protection and conservation of environment, as well as help in making India self-reliant," Modi said. He also expressed hope that the various stakeholders gathered at the convention that include

Top Headlines: Petro products export share rises; RBI rate hike, and more

With the price index surprising on the upside in August, many analysts have pencilled in a higher inflation print in September as well and accordingly expect the RBI to frontload policy rate hikes