Page 28 - Automobile Manufacturer

Oct auto retail sales dip 8% due to Shraddh period; Navratri sales up 18%

Navratri of 2023 marked a milestone, with retail sales soaring by 18 per cent year-over-year, surpassing the figures of Navratri 2017

Retail sales of automobile in domestic market dip 7.73% in Oct: FADA

Retail sales of automobiles in the domestic market saw a 7.73 per cent year-on-year decline in October this year at 21,17,596 units, mainly due to dip in two-wheeler uptake with the inauspicious period of Shraddh affecting new purchases, the Federation of Automobile Dealers Associations (FADA) said on Monday. Retail sales of automobiles in the domestic market stood at 22,95,099 units in October 2022, FADA said in a statement. Two-wheeler retail sales were at 15,07,756 units last month, as against 17,25,043 units in the year-ago period, down 12.60 per cent, as per the latest data by FADA. Similarly, passenger vehicle (PV) retail also declined by 1.35 per cent at 3,53,990 last month, as compared to 3,58,884 units in October 2022. On the other hand, three-wheeler sales were up 45.63 per cent at 1,04,711 units, as compared to 71,903 units in the year-ago month. Tractor retail sales also grew by 6.15 per cent at 62,440 units, as against 58,823 units in October 2022. Commercial vehicle

Explained: How UAW's drive to 'end tiers' will change GM Detroit

The contract will largely unwind a strategy the automaker has used for years to hold down labor costs, UAW officials have said

Record sales in sight for 2023, Mercedes-Benz India bullish on 2024 outlook

Set for another record sales this year, Mercedes-Benz India is confident of carrying forward the momentum to 2024 despite supply concerns, company Managing Director and CEO Santosh Iyer said on Thursday. The company on Thursday launched two fresh products -- new SUV GLE priced between Rs 96.4 lakh to Rs 1.15 crore and AMG C 43 with price starting at Rs 98 lakh, completing its planned launch of ten products for 2023. "Overall yes, another record year for us. We still have two months to go but at this stage from a demand perspective (it is) strong. From the supply side, we have to improve from here on and with that we should end the year on a high note," Iyer told PTI in an interview on the sidelines of the launch here. He was responding to a query on whether the company is set for another record sales in 2023 after witnessing a new high in 2022 when it clocked 15,822 units. In the January-September 2023 period, the company delivered 12,768 units at a growth of 11 per cent over the s

Hero Moto's consolidated net profit jumps 47.6% to Rs 1,007 crore

Regarding sales volume, the company recorded 14.16 lakh units of motorcycles and scooters sold during the quarter

Honda Cars posts 17% increase in total sales to 13,083 units in October

Honda Cars India on Wednesday posted a 17 per cent increase in total wholesales at 13,083 units in October. The company had dispatched 11,221 units in the year-ago period, the automaker said in a statement. Domestic sales stood at 9,400 units last month as against 9,543 units a year ago. Exports grew to 3,683 units last month as against 1,678 units in October last year, it added. "There is a strong demand during the festival period with incredible response for our new model Elevate from our customers. We are actively working to meet the strong demand for the model," Honda Cars India Director (Marketing and Sales) Yuichi Murata said. The City and Amaze models have also maintained their good performance, he added. "As we near the auspicious celebrations of Dhanteras and Diwali, our dealerships are focusing on maximising deliveries to our esteemed customers," Murata said.

Ashok Leyland posts 13% rise in total sales to 16,864 units in October

Commercial vehicle maker Ashok Leyland on Wednesday reported a 13 per cent increase in total sales at 16,864 units in October as compared to 14,863 units in the same month last year. Domestic sales were up 14 per cent at 15,759 units as against 13,860 units in October 2022, Ashok Leyland said in a statement. Sales of medium and heavy commercial vehicles in the domestic market were at 9,411 units as against 8,189 units in the year-ago period, up 15 per cent, it added. Light commercial vehicle sales in the domestic market last month stood at 6,348 units as against 5,671 units in the year-ago period, up 12 per cent, the company added.

Maruti Suzuki records highest-ever monthly sale; sells 199,217 units in Oct

Utility vehicle sales for the company stood at 59,147 units in October 2023 which was almost double the 30,971 units sold in October 2022

Renault lines up € 3 bn investment, 8 new models to expand global reach

International Game Plan for 2027 to include areas outside Europe, including India

Can electric vehicle maker BYD Auto put its India dreams back on track?

To reach anywhere close to the 30% target, BYD will have to introduce affordable electric cars that can generate substantial volumes, and back it up with a strong network

General Motors withdraws its 2023 guidance, UAW strikes SUV plant

With the UAW clash throttling revenue and profits, Chief Executive Mary Barra told investors the automaker will slow its electric vehicle strategy to put profits ahead of sales targets

Battery testing race to work out what used electric vehicles are worth

With traditional combustion-engine cars, mileage and years racked up can quickly tell prospective buyers how much they should fork out

Tesla to exceed $9 bn spending target this year as it rolls out new models

The company's spending is, however, expected to return to the $7 billion and $9 billion range in the next two years, a regulatory filing showed

As auto shipments to US, Europe climb, Japan's exports rise, imports drop

Japan's exports climbed 4.3% in September from a year earlier as shipments of vehicles, machinery and electronics rose while imports of oil and gas fell sharply, the government said Thursday. Exports totaled 9.2 trillion yen ($61 billion) in September while imports fell 16.3% from the year before to 10.9 trillion yen ($72 billion), according to provisional customs data released Thursday. That left a positive balance of 62.4 trillion yen ($410 billion), the first monthly trade surplus in three months. September's increase in exports was the biggest gain since March and was stronger than analysts had expected. The figures suggest strong activity in Japan's vital manufacturing sector despite faltering global demand. Economists said the drop in imports was mainly due to base effects from the year before. In the first half of Japan's fiscal year, from April-September, exports edged up just 1.4% from a year earlier, to a record 50.2 trillion yen ($330 billion) while the trade deficit sh

Auto deals jump 858% in Q2FY24 on back of 16 deals worth $939 million

This substantial growth was primarily fuelled by five high-value deals, each surpassing $100 million

CIE Automotive India results: Profit up 11%, revenue low in Europe segment

Weak demand for cars in CIE's key Europe market, which analysts say brings higher margins, also saw overall revenue rise just 2.2% - its slowest growth in five quarters

War cry for 50%: Maruti's rise to number 1 in SUVs is the result of rejig

Hatchbacks still constitute 30 per cent of the passenger vehicle market. The top three cars in India are still small cars: Swift, Baleno and WagonR. Incidentally, all three are Maruti models

Impact of Israel-Gaza conflict on auto industry negligible, says Siam

Israel is currently preparing its forces along its border with Gaza for a possible ground operation

No plans to phase out diesel vehicles: BMW India president Vikram Pawah

The company currently has an order book of about 2,000 cars and 1,000 motorcycles

Govt mulls subsidising carmakers investing in local EV production

The government plans to extend incentives to carmakers based on the investments they make to manufacture cars locally, an official aware of the development said