Page 22 - Automobile Manufacturer

Passenger vehicle wholesales clock record 393,074 units in Jan, up by 14%

Passenger Vehicles (PV) sales in India kicked off on a strong note in 2024 with wholesales rising 14 per cent year-on-year to 3,93,074 units last month, the best-ever figure for January driven by robust demand for utility vehicles, industry body SIAM said on Wednesday. As per the data issued by the Society of Indian Automobile Manufacturers (SIAM), dispatches of passenger vehicles from manufacturers to dealers stood at 3,46,080 units in January 2023. Two-wheeler wholesales rose 26 per cent to 14,95,183 units last month as compared with 11,84,376 units in January last year. "Passenger vehicle sales have remained resilient led by positive consumer sentiments, while the two-wheeler segment witnessed good growth in January as well as the rural market continues to recover," Society of Indian Automobile Manufacturers (SIAM) President Vinod Aggarwal said. Though the commercial vehicle sector did not grow in January 2024, it is likely to see good offtake in the next two months of this ...

Mahindra & Mahindra's Q3 result: Profits up 60%, miss expectatios

The 'Scorpio' SUV-maker's standalone profit after tax rose 60.6 per cent to Rs 2,454 cr ($295 million) in the three months to Dec. 31, missing analysts' estimate of Rs 2,512 cr, per LSEG data

Eicher Motors Q3 results: Profit up 34% at Rs 996 cr, beats estimates

The company's profit rose 34.4% to Rs 996 crore ($120 million) in the three months to Dec. 31, beating analysts' estimates of Rs 989 crore, as per LSEG data

In the fast lane: Retail car sales hit a record in Jan on wedding demand

Concerns persist regarding PV inventory levels, which are now within the 50-55 day range

Eicher expects exports of Royal Enfield to pick up after two-year slump

Strong domestic sales of Royal Enfield, a premium-priced motorcycle, helped Eicher post a bigger-than-expected 12.3% jump in revenue to 41.79 billion rupees ($504 million) for the Oct-Dec quarter

Top 5 SUVs sold in January 2024, Tata Punch tops chart; check the full list

Top 5 SUVs sold in January 2024: Tata Punch sold the highest number of SUVs in India in January 2024. The company sold around 17,978 units last month

Kerala govt plans drive and charge infrastructure for electric vehicles

Pilot project to take shape in FY25; roads to have copper coils with receivers on vehicles

Hero MotoCorp Q3FY24 results: Net profit rises 51.3% to Rs 1,091.12 cr

Volume sales increase by 17.74% in Q3; high demand for premium products

Honda results: Profit up 3.5% in Dec quarter on back of strong US demand

Japanese automaker Honda's profit rose 3.5 per cent in the October-December quarter from a year earlier on the back of solid demand in the US and Europe and a recovery in its home market, the company said on Thursday. Tokyo-based Honda Motor Corp's profit in the last quarter was 253.3 billion yen, or USD 1.7 billion. Quarterly sales jumped 21 per cent to 5.39 trillion yen (USD 36 billion). A favourable exchange rate helped amplify Honda's overseas profits in yen terms and is expected to continue through the rest of the fiscal year, which ends in March. The dollar has been trading at about 148 Japanese yen, up from about 140 yen last year. All the automakers have been hurt by shortages of computer chips and other parts, partly due to disruptions in manufacturing because of the coronavirus pandemic. The latest results show Honda has mostly but not yet fully recovered to pre-pandemic levels in some locations. Honda's motorcycle sales grew in recent months in Brazil and Europe, accord

After brisk start, electric vehicle penetration loses momentum in FY24

Electric two-wheelers, which were expected to lead the charge, are a case in point, especially after the government sharply cut back the subsidy given to manufacturers in the middle of last year

Toyota Motor hikes annual profit forecast after Q3 beats expectations

TOKYO (Reuters) -Toyota Motor raised its full-year operating profit forecast by nearly 9% on Tuesday, after higher sales volumes and a weaker yen boosted its third-quarter results

Toyota boosts spending on EV production in United States by $1.3 billion

Toyota has taken a more cautious approach to introducing fully electric vehicles than peers such as Volkswagen AG and General Motors Co

Maruti aims to open 100 Nexa service workshops in non-urban areas in FY25

MSIL sells its more expensive cars such as Grand Vitara, Jimny, and Fronx through Nexa retail channel, while the others are sold through Arena retail channel

Auto-component maker Sundram Fasteners' Q3 net profits at Rs 116.19 cr

Auto-component maker Sundram Fasteners Ltd has reported a standalone net profit of Rs 116.19 crore, for the October-December 2023 quarter, the company said. The company had registered a standalone net profit of Rs 106.13 crore, during the corresponding quarter of last year. Net profits on a standalone basis for the nine-month period ending December 31, 2023 stood at Rs 346.65 crore as against Rs 347.99 crore registered year ago. The standalone total income during the quarter under review was Rs 1,204.92 crore, as against Rs 1,236.18 crore registered in the same period of last year. Total standalone income for the nine month period ending December 31, 2023 slipped to Rs 3,661.50 crore, from Rs 3,708.25 crore registered in the same period of last year. In a statement, the company said the revenue from operations was Rs 1,180.62 crore, for the quarter ending December 31, 2023 as against Rs 1,226.87 crore during the same period in the previous year. Domestic sales during the quarter

BMW eyes India's emerging electric car mkt with focus on affluent consumers

BMW, which introduced battery-powered vehicles in India last year, currently sells five electrified models, the most among all carmakers

Toyota supplier Denso cuts forecast after Q3 profit hit by extra costs

Denso gets about half of its revenue from the Toyota group, which also includes Toyota truck unit Hino Motors and small-car maker Daihatsu

More people choosing lower EV variants, 'range anxiety' improves: TaMo

People realising they are going to use electric cars in the city, says a senior executive

TVS Motor vehicle sales grow 23% to 339,513 units in January 2024

TVS Motor reported a 23 per cent increase in vehicle sales to to 339,513 units in January. The company had recorded total sales of 275,115 units in January last year, TVS Motor said in a statement. Sale of two-wheelers registered a growth of 25 per cent with sales increasing from 264,710 units in January 2023 to 329,937 units in January 2024. Of this, domestic sales spiked 24 per cent to 268,233 units in the previous month, it said. In the two-wheeler segment, motorcycle volumes were up 29 per cent to 1,55,611 units from 1,21,042 units in January last year, it said. The scooter segment registered a growth of 24 per cent with sales increasing from 106,537 units in January 2023 to 132,290 units in January 2024, the company said. The company said in January, it also witnessed a 34 per cent year-on-year growth in electric vehicle sales at the at 16,276 units. According to the company, its total exports grew 22 per cent. Two-wheeler exports registered a growth of 28 per cent with sa

Ashok Leyland total vehicle sales decline by 7% to 15,939 units in January

Commercial vehicle maker Ashok Leyland on Thursday said its total vehicle sales, including exports, declined 7 per cent to 15,939 units in January. It had sold 17,200 units in the year-ago period, according to a statement. The company's total MHCV (Medium and Heavy Commercial Vehicle) sales dipped 8 per cent to 14,899 units last month as against 16,198 vehicles a year ago. The Light Commercial Vehicle (LCV) segment volumes fell 7 per cent to 5,721 units in the reported month from 6,150 vehicles sold in January 2023, Ashok Leyland said.

Maruti Suzuki's total vehicle sales rise 5% at 199,364 units in January

Maruti Suzuki India's total vehicle sales, including exports, increased 5 per cent at 1,99,364 units in January from 1,72,535 units in the same month last year, the company said in a statement on Thursday. This was the highest-ever monthly sales volume for the Gurugram-based car maker, as per the statement. The total domestic sales grew 13 per cent at 1,70,214 vehicles as against 1,51,367 units in the month a year ago, it said. MSI also sold 23,921 vehicles in the overseas markets in the previous month, as per the statement. Total passenger vehicle domestic sales in the previous month were recorded at 1,66,802 units, growing 13.20 per cent over 1,47,348 vehicles sold in January 2023, the company said.