Page 2 - Automobile Sales

India's share in global mobility supply chains growing: Piyush Goyal

India's share in the global mobility supply chains is increasing due to the sector's cost-competitiveness and focus on product quality, Commerce and Industry Minister Piyush Goyal said on Friday. Speaking at the Bharat Mobility Global Expo 2025 here, he said by the next year this expo will become the biggest auto show in the world and will emerge as the one-stop destination for the automobile sector for the world. At present, it is the second-largest automotive expo in the world. The expo, he said, will serve as a call to action for global partnerships, inviting international investors to tap into India's growing consumer base and business-friendly ecosystem. "Innovation and sustainability have become the focus of the mobility sector and India's share in the mobility global supply chains is also increasing. India's mobility sector is cost-competitive and is also focussing on product quality," he said. Goyal also said that electric vehicles are shaping the mobility sector and India

Will Bharat Mobility Expo 2025 rev up auto stocks? Analysts don't think so

Bharat Mobility Expo 2025, Auto Expo 2025: Analysts believe the automobile vehicle demand has been impacted by higher inflation and interest rates

Automobile dispatches grow 12% in 2024 driven by consumer sentiment: Siam

Automobile dispatches from companies to dealers rose 12 per cent last year compared to 2023 on the back of positive consumer sentiments which aided robust demand for two-wheelers, industry body SIAM said on Tuesday. Total wholesales across categories rose to 2,54,98,763 units in 2024 against 2,28,39,130 units in 2023, a growth of 11.6 per cent. "2024 has been reasonably good for the auto industry. Positive consumer sentiments and the country's macroeconomic stability helped in propelling reasonable growth for the sector across vehicle segments," Society of Indian Automobile Manufacturers (SIAM) President Shailesh Chandra said in a statement. Last year, the growth was primarily driven by the two-wheeler segment which grew by 14.5 per cent in 2024 over a year ago, he added. Dispatches of scooters, bikes and models rose by 14.5 per cent to 1,95,43,093 units in 2024 compared to 1,70,75,432 units a year ago, the statement said. Scooter sales rose 20 per cent year-on-year to 66,75,231 u

More than 40 new product launches expected at upcoming auto expo, says govt

More than 40 new product launches are expected at the upcoming Auto Expo which will be held under the umbrella of Bharat Mobility Global Expo 2025 from January 17-22, a government official said on Tuesday. With visas continuing to be an issue, large scale participation of Chinese companies are unlikely although some of them are participating at the expo, Joint Secretary at Ministry of Commerce and Industry Vimal Anand said here at the sidelines of curtain raiser of 'Bharat Battery Show' which will also be a part of the Bharat Mobility Global Expo 2025. "Last year the mobility show was only held at Bharat Mandapam, but this year, we have multiplied it by three times and we are going to organise it at not only Bharat Mandapam, but also at Yashobhoomi (India International Convention Centre, Dwarka) and India Expo Centre & Mart, Greater Noida," he said. The auto show will be the main attraction, and along with automobiles other segments related to the sector, including battery show ...

Auto majors end 2024 with positive sales growth driven by new launches

Riding on the back of new launches, major carmakers reported positive sales growth in Calendar Year 2024

Automotive leasing in India to account for 8% of sales in 5-8 yrs: ORIX

Mobility solutions and financial services provider ORIX Corporation India Ltd expects automobile leasing market in India to account for 7-8 per cent of the overall vehicle sales in the next 5-7 years, up from about 2 per cent currently with more younger people joining the workforce, its Managing Director and CEO Vivek Wadhera. With good traction in its business, the company expects 30-35 per cent higher profit this fiscal year compared to the last year, Wadhera told PTI in an interaction. "If you compare the Indian market to the western market, the overall leasing market in India is 1-2 per cent of the total number of automobiles sold," he said when asked how the automobile leasing market has been developing in the country. In 2024, passenger vehicle sales in India stood at 43 lakh units as per industry estimates. In the western market such as the US, or even Japan or China, the same percentage is 30-40 per cent, he added. There many customers don't buy vehicles but "Indians still

Tesla records 1.1% sales drop for 2024, first annual decline in 9 years

Tesla's global sales rose 2.3 per cent in the fourth quarter after a sluggish start to the year that contributed the electric car company's first year-over-year sales decline since at least 2015. The annual decline for the Austin, Texas, company came despite offers such as 0 per cent financing, free charging and low-priced leases. Tesla delivered 495,570 vehicles from October through December, boosting deliveries to 1.79 million for the full year. But that was 1.1 per cent below 2023 sales of 1.81 million as overall demand for electric vehicles in the US and elsewhere slowed. The fourth-quarter boost came with a cost. Analysts polled by FactSet expected Tesla's average sales price to fall to just over USD 41,000 in the quarter, the lowest in at least four years. That doesn't bode well for Tesla's fourth-quarter earnings, which the company said it would announce on January 29. In 2022, Tesla predicted that its sales would grow 50 per cent most years, but the prediction ran into an

M&M, TVS & Uno Minda among top picks by Nuvama ahead of December auto sales

Nuvama analysts said December is expected to bring encouraging results for the industry. PVs are predicted to achieve double-digit growth, propelled by strong performances from M&M, Maruti & Toyota

India's car colour preference: White dominates, but black, blue intrigue

Data from Jato Dynamics highlights a shift in Indian car colour preferences, with bold and vibrant shades gradually gaining ground, though white continues to dominate for now

CRISIL analysis: Automobile sector faces mixed fortunes amid rural revival

Rural demand had been subdued in the past few financial years owing to low farm profitability because of erratic monsoon and the outsized impact of the pandemic on rural incomes

Zero-commission model can raise driver incomes, says ONDC white paper

It reveals how open network models such as zero commission boost inclusive growth and strengthen local economies

China leads global EV sales as it hits third consecutive record high

China continued to lead sales growth, accounting for almost 70 per cent of total EV sales in the month, while registrations in Europe showed a marginal decline

Car sales drop by 14% in November, two-wheelers see 16% jump: Fada

Tractor sales, however, saw an impressive 29.88 per cent Y-o-Y jump, suggesting good rural demand

Cars set to get expensive from January as OEMs announce increase in price

Prices of various car models -- ranging from entry-level hatchbacks to high-end luxury offerings -- are set to rise as automakers have announced price hikes with effect from January. Carmakers cite an increase in input costs and operational expenses as the main reason to implement price increases from the next month. Industry experts, however, note that the exercise is also undertaken by automakers every year in December to shore up sales volume in the last month of the year, as customers postpone buyouts to later months to get the new year manufactured units. "We have seen a few cycles of price increase in India. It happens at the beginning of the calendar year and financial year, but few OEMs pick the timing based on their planned launches as well," Deloitte India Partner Rajat Mahajan said. While there could be multiple factors for the price increase, the key one is due to a decline in profitability of a few large auto OEMs in the second quarter, he added. "Due to the festive .

No coercive action needed against Hero Electric for now: Delhi HC to SFIO

Hero Electric said it was willing to resolve the dispute with the ministry, which had demanded the disgorgement of Rs 133 crore paid to the company in sops, citing alleged violations of FAME II norm

Skoda Kylaq starting at Rs 7.89 Lakhs launched, deliveries to begin in Jan

Prices for the Skoda Kylaq start at Rs 7.89 lakh (introductory ex-showroom prices throughout India). The SUV will go on sale on December 2, 2024, and delivery will begin on January 27, 2025

Carmakers expect festive period to improve sales, overall buyer sentiment

Auto industry players are eyeing robust performance in the ongoing festive period to lift overall consumer sentiment and set the tone for the rest of the year amid slowing demand. The festive season usually commences with Onam and ends with Diwali every year. Kia India National Head of Sales and Marketing Hardeep Singh Brar told PTI that the last 3-4 months were not good for the industry as sales declined compared to the same period last year. "With pent-up demand of the last few months there and government investment starting to flow in, we feel things should start improving from here onwards," he noted. Brar said the booking momentum in September was good, which is a strong indication for October. "And this time, all festivals are in October..we expect about 5-10 per cent sales growth during the period as compared to last year," he added. Brar said that in the January-April period, the passenger vehicle industry witnessed a growth of 7 per cent, but in May-September, there was

Bumpy ride: High stock, low demand drive domestic car sales down 2-3%

Domestic car wholesales saw a decline for a second straight month in August

Porsche India retail sales increase 40% to 489 units in Jan-June period

Porsche India on Wednesday said its retail sales increased 40 per cent year-on-year to 489 units in the January-June period. The company saw robust sales of Cayenne and Macan models during the period under review, the luxury sports carmaker said in a statement. "The desire to own a Porsche in India continues to grow and we are elated to see that the first half of 2024 has been our best ever," said Manolito Vujicic, Brand Director, Porsche India. This reflects what has been a solid, continuous growth of sales right across each model line for Porsche in India over the past few years, he added. "It bodes well for the remainder of 2024 with a brace of more exciting new models set to launch in conjunction with further expansion of the Porsche network across the country," Vujicic said. The second half of 2024 will see three exciting new models arrive in India, the Cayenne GTS, 911 sports coupe and Panamera GTS, the company said. Deliveries for these models are planned to commence from

The Balancing Act: Budget expectations of India's automobile sector

At the heart of the debate lies the future of automotive propulsion technologies