Page 11 - Car Sales

MG Motor India expects to turn profitable next year on higher sales

MG Motor India expects its operations to turn profitable next year as it looks to double its volumes with higher production capacity in place, the company's President and Managing Director Rajeev Chaba said on Monday. The company, which has been impacted by acute supply chain constraints, is looking to close the current year with sales of around 55,000-56,000 units. "Next year, we are looking at doubling our volumes. If we do 56,000 units this year and we are targeting over one lakh units in 2023. So that is why we think next year is definitely going to be a big year for us," Chaba told PTI in an interaction. He noted that the company is in the final stage of completing capacity expansion at its Halol-based manufacturing plant in Gujarat which would help it scale up dispatches to dealers next year. MG Motor had bought the Halol plant from General Motors and has been able to ramp the annual production capacity from 65,000 units to 1.25 lakh units now. "Last year we sold around 40,0

Car prices to rise as auto cos gear to comply with stricter emission norms

Passenger and commercial vehicle prices are expected to rise as automobile companies invest in upgrading vehicles to meet stricter emission norms that kick in from April next year. The Indian automobile industry is currently working to make their products meet the second phase of Bharat Stage VI, equivalent to Euro-VI emission norms, in real time driving conditions. Four-wheeler passenger and commercial vehicles will need more sophisticated equipment to be added to meet the next level of emission standards. Industry players expect an increase in the overall production cost, which could be passed on to buyers starting next year. Vehicles will need to have an on-board self-diagnostic device to monitor the real time driving emission levels. The device will constantly monitor key parts for meeting emission standards such as the catalytic converter and oxygen sensors, to keep a close watch on emissions. In a scenario wherein the emissions exceed the parameters, the device will indicate

Audi India retail sales up 29% to 2,947 units during Jan-Sept period

German luxury carmaker Audi on Friday reported a 29 per cent growth in retail sales at 2,947 units in the January-September period of this year in India. Audi India had retailed 2,291 units in the same period last year. The growth was driven by the new A8 and Q7, coupled with continued demand for the e-tron range, A4, A6, Q5 and the RS performance range, the company said in a statement. In addition, Audi Approved: plus, the company's pre-owned car business, has grown by 73 per cent in the first nine months of 2022, it added. "Our performance in the first nine months has laid the foundation for a positive performance in the remainder of the year. "Robust growth, despite the semiconductor shortage and global supply-chain issues reiterates the customers' enthusiasm around the brand and our wide product portfolio," Audi India Head Balbir Singh Dhillon said. In the ongoing festive season, the automaker is expecting good growth on the back of sustained demand, he added. The automker n

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

Honda Cars' domestic PV sales jump 29% to 8,714 units in September

The company's product range includes Honda Jazz, Honda Amaze, Honda WR-V, Honda City and Honda City e:HEV

Hyundai's domestic sales increase by 50% to 49,700 units in September

The Korean carmaker sold 33,087 units in the country in September last year

India to outshine regional, global peers this year in car sales: Moody's

Robust car sales during the ongoing festive season amid the easing of chip shortage will help the Indian automobile industry outshine its regional and global peers this year, Moody's Investor Service said on Thursday. Aided by favourable aspects, the car sales volumes this year in the country are expected to increase by 12.5 per cent and another 4 per cent in 2023, it stated. "India remains the bright spot for car sales this year. So far in 2022, sales are steady and we expect a stronger fourth quarter with the onset of the festive season starting at the end of September," as per a note prepared by Moody's Investor Service. A relatively stronger macroeconomic environment, the easing of semiconductor shortages as well as restocking by dealers will help India outperform its regional and global peers, it added. APAC will be the strongest of the major regions in 2022, growing by 3.5 per cent driven by growth in China and India, Moody's Investor Service said. "We forecast 2022 auto sal

Over half of US car sales will be electric by 2030 fuelled by Biden's push

Just over half of passenger cars sold in the US will be electric vehicles by 2030, according to a report from BloombergNEF

Will post highest ever domestic sales in 2022: Hyundai's Tarun Garg

Says product portfolio in line with customer's choice for SUVs, non-committal about sales volume; Hyundai's best show so far was in 2018 at 550,002 units

Tata Motors' total sales rise 36% in August; domestic sales up 41%

Tata Motors on Thursday said its total sales increased by 36 per cent to 78,843 units in August. The auto major had sold 57,995 units in the same month of the previous year. Its total domestic sales increased by 41 cent to 76,479 units in August. The company had dispatched 54,190 units in August 2021. Passenger vehicle sales in the domestic market stood at 47,166 units last month, as against 28,018 units in August 2021, an increase of 68 per cent. Commercial vehicle sales in the domestic market were at 29,313 units last month, as compared to 26,172 units in the same month last year, an increase of 12 per cent, it added.

Kia India retail sales up 33.27% in Aug, helped by consumer sentiment

Company says its performance is a good sign for the Indian automotive market

July auto sales rise 10% YoY as chip availability improves: SIAM

Market for entry-level passenger cars, two-wheelers and three-wheelers yet to recover

Auto industry expects car sales on fast lane on back of new launches

Auto industry expects car sales to be on the fast lane this festive season on back of new launches and improved production but is cautiously optimistic on the road ahead once the festivities peter out

Maruti Suzuki could not produce 51k units due to chip shortage in Q1: CFO

The country's largest carmaker, which sold a total of 4,67,931 vehicles during the June quarter, noted that the semiconductor shortage is a challenge in planning its production activities.

Mahindra & Mahindra records 100,000 bookings for Scorpio-N within 30 mins

The company said that the bookings translated into an ex-showroom value of $2.3 billion

Porsche India sales up two folds at 378 units in first half of 2022

Luxury carmaker Porsche India on Monday reported an over two-fold jump in sales at 378 units in the first half of 2022

BMW Group India reports 64.2% rise in car sales in Jan-Jun period

BMW Group India on Wednesday reported 64.2 per cent growth in its car sales at 5,570 units in the January-June period of 2022. The BMW brand posted sales of 5,191 units during the period, a growth of 65.4 per cent while the MINI clocked 379 units, an increase of 50 per cent over the comparable period last year, the group said in a statement. The group's luxury motorcycle brand BMW Motorrad registered sales of 3,114 units at a growth of 56.7 per cent in the first half of 2022, it added. "Against all odds, BMW Group is taking rapid and consistent strides in India. Despite the turbulences caused by various factors in the domestic and international market, we have achieved the best-ever half-yearly sales performance for BMW, MINI and BMW Motorrad," BMW Group India President Vikram Pawah said. He further said, "This success underpins the enormously strong demand for BMW Group products in the luxury car and premium motorcycle segment in India." Reiterating the group's commitment towards

Maruti Suzuki June sales at 122,685 units, down 1.2% due to chip crunch

However, if sales of Baleno and Brezza models to Toyota Kirloskar and of LCV Super Carry are included, the dispatches were up from 130,348 units a year ago to 132,024 units last month

M&M drives in Scorpio-N, hopes to stay in top gear with 'disruptor SUV'

Company expects car will impress buyers considering premium offers like Toyota Fortuner, Jeep Meridian and MG Gloster

Hyundai total sales at 51,263 units in May; exports at 8,970 units

The company's two plants in Chennai observed the scheduled biannual maintenance shutdown leading to no production for six days in the month (May 16-21), the automaker said in a statement.