Page 3 - Automobile Sales

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

Mobility players drive 18% of total car sales in FY24, says Deloitte

Mobility sector's growth path set to accelerate to 25% by FY30: Deloitte

Massive monsoon season discounts take the wheel in car sales drive

As the monsoon season begins, carmakers and dealers are intensifying their efforts to attract buyers with various incentives, including discounts, exchange bonuses, and assured gifts

Auto industry grew 19% in value in FY24 as SUVs become popular: Report

Despite high volume of registrations, average price of vehicles in India is cheaper compared to advanced economies

As vehicle sales hit brakes, manufacturers seek extended financing

Auto dealerships are grappling with a 60-day stockpile of four-wheeler inventory, which is imposing a financial burden due to the additional interest costs incurred during the extended holding period

HMSI domestic sales jump 42% to 481,046 units in April, exports up 67%

Honda Motorcycle and Scooter India on Thursday reported a 42 per cent year-on-year jump in domestic wholesales at 4,81,046 units in April. The two-wheeler major had dispatched 3,38.289 units to its dealers in the year-ago. Exports increased 67 per cent to 60,900 units last month from 36,458 units in April last year, Honda Motorcycle & Scooter India (HMSI) said in a statement. The total sales rose to 5,41,946 units last month against 3,74,747 units a year ago, it added.

Toyota Kirloskar sees highest-ever monthly sales at 27,180 units in March

Toyota Kirloskar Motor on Monday reported its highest-ever monthly wholesales at 27,180 units in March. The company's total dispatches to dealers increased 25 per cent last month to 22,910 units as compared with 21,783 units in March 2023. For the 2023-24 fiscal the company reported the highest-ever wholesales of 2,63,512 units, an increase of 48 per cent as against 1,77,683 units in 2022-23. "We are thrilled to close both our wholesales for 2023-24 fiscal year and March 2024 by recording the highest-ever units of 2,63,512 and 27,180 respectively," Toyota Kirloskar Motor (TKM) Vice President, Sales-Service-Used Car Business Sabari Manohar said in a statement. With a customer-oriented approach, the company has always remained ahead in assessing and understanding the diverse needs of varied customers and market trends, serving them the best with our wider range of quality products and services, he added. "We will continue to do so with an emphasis to meet the rising consumer demands

Domestic commercial vehicle industry to see 4-7% dip in volumes: ICRA

Domestic Commercial Vehicle (CV) volumes are expected to dip 4-7 per cent year-on-year next fiscal with high base effect kicking in, rating agency Icra said on Tuesday. The volumes are expected to remain muted through the January-March quarter on account of a perceived pause in the infrastructural activities as the model code of conduct kicks in ahead of the general elections. "Icra estimates the domestic CV industry volumes to register 2-5 per cent year-on-year growth in volumes in FY24. Subsequently, the industry's sharp upcycle is expected to plateau in FY25, with a decline of 4-7 per cent in volumes," the rating agency stated. Icra Ratings Vice President & Co-Group Head Kinjal Shah said he expects the long-term demand for CVs to remain intact. The continued focus on infrastructure capex, emphasis on private participation in infrastructure, construction, defence and manufacturing activities would remain a long-term positive for the CV industry, he said. "However, in the near .

Eye on affordability? Tata Motors latest to slash prices of electric cars

Company say it is passing on benefits of reduced battery prices, keeps Punch cost unchanged

Result preview: Auto Inc may ride on strong revenue growth in Dec qtr

Prabhudas Lilladher expects the companies under its coverage to report an aggregate revenue growth of 20 percent YoY (including Jaguar-Land Rover) and 16 percent (excluding JLR)

Auto exports dip 21% in 2023 as markets abroad face monetary crisis: Siam

Automobile shipments from India declined 21 per cent last year as many overseas markets continued to face monetary and geopolitical crises, as per the latest SIAM data. Overall exports stood at 42,85,809 units last year compared to 52,04,966 units in 2022. Passenger vehicle shipments rose 5 per cent to 6,77,956 units last year from 6,44,842 units in 2022. However, other segments like commercial vehicles, two-wheelers and three-wheelers saw a decline in exports last year. Two-wheeler exports slipped 20 per cent to 32,43,673 units last year from 40,53,254 units in 2022. Similarly, commercial vehicle shipments declined to 68,473 units last year from 88,305 units. Three-wheeler exports declined 30 per cent to 2,91,919 units last year from 4,17,178 units. Society of Indian Automobile Manufacturers (SIAM) Director General Rajesh Menon told PTI that in 2023, passenger vehicle exports were driven by vehicle launches and pent-up demand in markets like South Africa and the Gulf region. "

Jaguar Land Rover reports best-ever sales at 3,582 units in Apr-Dec period

Luxury automaker Jaguar Land Rover on Thursday reported record sales at 3,582 units for nine months ended December 31, 2023. The company said its sales rose 93 per cent year-on-year as compared to the April-December period of the last fiscal. Range Rover and Defender continue to lead with a year-on-year (YoY) rise of 250 per cent, contributing to over 75 per cent of the current order book, the automaker said. In the October-December quarter, the company reported a 74 per cent YoY growth, achieving retail sales of 1,226 units, it added. The newly launched Range Rover Velar witnessed a YoY sales growth of 183 per cent in the quarter, JLR said. "Over the past nine months, JLR's progress in India has been characterised by consistent and substantial growth. Each quarter has shown an impressive year-on-year surge of nearly 100 per cent," JLR India Managing Director Rajan Amba said. The burgeoning order bank and continuous order intake signal a robust demand, underscoring promising futu

Aiming for double digit volume growth in 2024: Mercedes-Benz India MD & CEO

The German carmaker, which leads the luxury car market in the country, recorded a 10 per cent year-on-year growth to 17,408 units in 2023

Passenger vehicles in fast lane: 2024 begins with 75% surge in inventory

2023 saw 11% growth in automobile retail sales, setting the momentum for the year ahead

Delhi had highest share in total EV sales in country in December: Minister

This is the highest-ever monthly contribution among all states in the country to date, reflecting the success of the Delhi EV Policy launched in 2020

TVS Motor Company posts 25% jump in sales at 301,898 units in Dec

TVS Motor Company on Monday reported a 25 per cent rise in total dispatches at 3,01,898 units in December 2023. The company had sold a total of 2,42,012 units in December 2022, TVS Motor Company said in a statement. Two-wheelers sales were at 2,90,064 units in December 2023 as compared to 2,27,666 units in the same month last year, up 27 per cent, it added. Domestic two-wheeler sales grew by 33 per cent at 2,14,988 units in December 2023 as against 1,61,369 units in December 2022. Motorcycle sales rose by 19 per cent to 1,48,049 units last month as compared to 1,24,705 units in December 2022, while scooter clocked sales of 1,03,167 units as against 76,766 units in the year-ago month, a growth of 34 per cent. TVS Motor Co said it sold 11,232 units of iQube electric scooter in December 2023 as against sales of 11,071 units in the same month last year. Three-wheeler sales were at 11,834 units last month as compared to 14,346 units in December 2022, it added. Total exports were at

Passenger vehicles cruise to a record, small car sales skid 21% in Nov

Rajesh Menon, Director General of SIAM, said, "Passenger Vehicles posted the highest ever sales in November 2023 of 3.34 lakh units, albeit with a growth rate of 3.7 per cent