Page 9 - Car Sales

Passenger car sales to cross two-million milestone in first half of 2023

If the pace of growth in dispatches sustains through the second half, India could become the third-largest car market in the world in 2023

Mercedes-Benz eyes 20% sales from pre-owned segment this year: Official

German luxury carmaker Mercedes-Benz is looking at around 20 per cent of its total sales this year to come from pre-owned car sales despite sourcing of used vehicles remaining a challenge, according to a senior company official. The company's arm Mercedes-Benz India had sold over 3,000 pre-owned cars last year and is witnessing robust demand for such vehicles with the holding period coming down to around 10 days as compared to 30 to 45 days earlier. "Still 18 to 20 per cent of our total car sales will come from used cars. So last year, if we did 16,000-odd cars, I will say 3,000 plus cars were used cars, about 20 per cent. Similar ratios will continue, I would say at 20-odd per cent," Mercedes-Benz India Managing Director & CEO Santosh Iyer told PTI. He was responding to a query on the sales of the company's pre-owned cars. The company sells its pre-owned cars through the "Mercedes-Benz Certified" channel which are located at all dealers' locations and are actively selling and ...

Automobile retail sales see 10% growth in May across segments: FADA

Automobile retail sales rose 10 per cent in May on the back of robust demand across segments including passenger vehicles, two-wheelers and tractors, automobile dealers' body FADA said on Monday. The total automobile retail sales jumped to 20,19,414 units last month, from 18,33,421 units in May 2022. Passenger vehicle sales rose by 4 per cent to 2,98,873 units in May, as compared to 2,86,523 units in the year-ago period. The Federation of Automobile Dealers Associations (FADA) President Manish Raj Singhania said improved availability of vehicles coupled with pending order list and the robust demand for new launches drove a positive momentum, helping the passenger vehicle segment rebound after a slump in the previous month. Two-wheeler retail sales last month rose 9 per cent to 14,93,234 units, as compared to 13,65,924 units in May 2022. "The two-wheeler sales were positively influenced by seasonal factors like the marriage season, changes in the FAME subsidies effective from June,

MG Motor India reported 25% increase in retail sales to 5,006 units in May

MG Motor India on Thursday reported 25 per cent rise in retail sales at 5,006 units in May compared to the same month last year. The company had sold 4,008 units in May 2022. MG Motor India in a statement said it remains optimistic about growth and meeting the rising customer demand through various ongoing and planned production and operational initiatives. The growth in sales of ZS EV and the positive response to the recently launched mini electric car Comet EV further encourage the company's stance towards electric mobility, it added.

Much before talk of diesel car ban, sales down to 17.6% of total volume

The news about an Indian government committee suggesting a ban on diesel cars from 2027 has sowed the seeds of uncertainty in the minds of diesel car buyers today, said top industry officials

Ashok Leyland Apr sales rise 10% to 12,974 units, exports marginally down

Commercial vehicles maker Ashok Leyland on Tuesday reported a 10 per cent increase in total sales at 12,974 units in April 2023, as compared to the same month last year. The company had registered total sales of 11,847 units in the same month a year ago, Ashok Leyland said in a regulatory filing. Domestic sales also rose 10 per cent last month at 12,366 units, as compared to 11,197 units in April 2022. Exports were marginally down at 608 units last month, as compared to 650 units in the year-ago period.

Toyota Kirloskar sales dip 6% to 14,162 units owing to maintenance shutdown

Toyota Kirloskar Motor on Monday said its wholesales declined by 6 per cent to 14,162 units in April, owing to a week-long maintenance shutdown during the month. The company had dispatched 15,086 units in the domestic market in April 2022. The automaker also exported 1,348 units of the Urban Cruiser Hyryder in April. The company said it undertook a week-long maintenance shutdown from April 24-28, 2023 for the upkeep of machinery and equipment to sustain operational efficiencies, productivity and safety. "The company is continuing to witness high demand as well as good enquiries, and needless to say we are extremely thrilled to see the market responding very positively," Toyota Kirloskar Motor Vice President, Sales and Strategic Marketing Atul Sood said in a statement. The Hilux, Innova Hycross and the new Innova Crysta continue their phenomenal run, as strong demand continues, he added. "Our SUV segment share also continues to be buoyant owing to the success of the Urban Cruiser

MG Motor India reports over two-fold rise in retail sales in April

MG Motor India on Monday reported over two-fold rise in retail sales at 4,551 units in April 2023 compared to the same month last year. The company had posted retail sales of 2,008 units in April 2022. The supply chain constraints remain in a few models; however, the company is working towards meeting customer demand, MG Motor India said in a statement. "The coming months are expected to bring in further improvements on this front," it added. The company said it is actively preparing for the market launch of its small electric car Comet EV this month with bookings to commence on May 15.

Kia India exports cross 200,000 unit mark in FY23, robust demand continues

Automaker Kia India on Wednesday said it crossed 2 lakh export milestone in FY23 and continues to see robust demand from various regions like the Middle East and Mexico. The company said it has shipped cars to around 95 countries till date. Kia said Seltos remains the top contributor to Kia's export numbers, with 1,35,885 units dispatched to over 95 countries. The automaker reported 22 per cent growth in exports in March quarter 2023 as compared the same period last year, it added. We are proud to showcase the manufacturing prowess of our next-gen Anantapur facility to the world by making, innovating, and investing in India and contributing to the government's vision, Kia India Chief Sales & Business Officer Myung-sik Sohn said in a statement. This also showcases how India, as a manufacturing hub, is ready to cater to the growing demand for SUVs globally, he added. Kia India said it continues to witness robust demand for Seltos, Sonet and Carens in overseas markets like the Middl

Global connected car sales grew 12% in 2022, Volkswagen leads: Report

Volkswagen Group led in connected car sales, closely followed by Toyota Group, according to Counterpoint Research

Passenger vehicle sales up 26.7% in FY23 as chip shortages ease: SIAM

Buying ahead of implementation of new fuel emission norms, and strong demand during the festival season also drove sales towards the end of the year

Tesla sets record with 422,875 car deliveries after slashing EV prices

Tesla Inc. delivered 422,875 cars worldwide in the first quarter, setting a record after it cut prices to appeal to consumers buffeted by rising interest rates and faster inflation

Maruti Suzuki sales dip marginally in March; highest ever sales in FY23

Maruti Suzuki India on Saturday said its total sales declined marginally to 1,70,071 last month as compared with 1,70,395 units in March 2022. Total dispatches to dealers in the domestic market declined 3 per cent to 1,39,952 units as compared with 1,43,899 units in March 2022. Exports last month however increased 14 per cent to 30,119 units from 26,496 units in the year-ago period. For the last financial year, the company reported its highest ever wholesales till date at 19,66,164 units, up 19 per cent from 16,52,653 units in 2021-22. Domestic dispatches stood at 17,06,831 units in 2022-23 as against 14,14,277 units in 2021-22. Exports rose to 2,59,333 units from 2,38,376 units a year ago.

Hyundai March sales up 11%; records highest ever dispatches in FY23

Hyundai Motor India on Saturday logged 11 per cent increase in wholesales at 61,500 units last month as compared with 55,287 units in March 2022. Domestic dispatches in March 2023 rose 13 per cent to 50,600 units as compared with 44,600 units a year ago. Exports rose to 10,900 units from 10,687 vehicles in the same period a year ago. Total sales in last fiscal year stood at 7,20,565 units, up 18 per cent from 6,10,760 units in 2021-22. It is the company's highest-ever sales in a financial year since commencing operations in the country. Domestic dispatches last month rose to 5,67,546 units from 4,81,500 units in 2021-22. Exports were higher 18 per cent year-on- year to 1,53, 019 vehicles. "FY 22-23 has been a phenomenal year for Hyundai Motor India, as we introduced seven segment defining products like the all-new Hyundai Tucson, new Venue, Venue N Line, all electric IONIQ 5, new Grand i10 NIOS, new AURA and the all-new Verna catering to different segments thus giving a strong p

Toyota Kirloskar Motor sales increase by 9% to 18,670 units in March

Toyota Kirloskar Motor (TKM) on Saturday said its sales increased by 9 per cent year on year to 18,670 units in March. The company had sold 17,131 units in the domestic market in March 2022. For the 2022-23 fiscal, the automaker reported a 41 per cent increase in wholesales at 1,74,015 units from 1,23,770 units in 2021-22 fiscal. "We are extremely pleased to close this fiscal year on a positive note and expect continued momentum and growth in the fiscal of 2024-2025. "The passenger vehicles segment witnessed a steady growth last year, and TKM was prepared to ride the wave by making deeper inroads into the market to meet the varied mobility needs," TKM Vice President, Sales and Strategic Marketing Atul Sood said in a statement. The company's new product launches, introduction of newer, greener and advanced technology options and reaching closer to customers, enabled it to successfully sustain the continued growth momentum, he added. "Given the strong customer demand for all our ..

Automaker Kia India sales fall by 5% to 21,501 units in March 2023

Automaker Kia India on Saturday said its sales wholesales declined by 5 per cent to 21,501 units last month, as compared to 22,622 units in March 2022. The company dispatched 8,677 units of Sonet, 6,554 units of Seltos, and 6,102 units of Carnival last month to dealers. For the 2022-23 fiscal, the automaker sold 2,69,229 units, a growth of 44 per cent over 1,86,787 units in 2021-22. "Our focus on offering futuristic design, combined with cutting-edge technology, has helped us in winning the Indian market and new-age customers alike. "With additional features and improvements in engine and transmission combinations in RDE-compliant vehicles, we are confident that we will continue our winning spree," Kia India VP and Head of Sales & Marketing Hardeep Singh Brar said in a statement.

MG Motor India reports best retail sales in March at 6,051 units, up 28%

MG Motor India on Saturday reported a 28 per cent year-on-year increase in its retail sales at 6,051 units in March, its best ever so far in a month. The strengthening of semiconductor supplies through various localisation initiatives and the easing of logistical bottlenecks have been key factors in achieving the highest ever sales, the automaker said in a statement. This momentum is expected to sustain and improve in the near future as well, it added. The company had retailed 4,721 units in March 2022. "The Next-Gen MG Hector, India's first internet SUV maintains its strong uptake in the market and has recorded its second-highest lifetime sales, since its launch, in the month of March," MG Motor India Senior Director Sales Rakesh Sidana noted. Similarly, the ZS EV has been registering good traction across market segments, he added. The automaker said it is gearing up for the launch of its forthcoming electric vehicle 'Comet'.

TMS Ep394: Car sales in India, BCI's new rule, OMC stocks, G-SIBs

Are car sales moving to the slow lane? How will BCI's new rule change Indian legal landscape? Is it the right time to buy OMC stocks? What are Global Systemically Important Banks? Answers here

Honda Cars reports 15% decline in sales at 6,086 units in February

Honda Cars India on Wednesday reported a 15 per cent year on year dip in sales in the domestic market at 6,086 units in February. The company had sold 7,187 units in the domestic market in February 2022, Honda Cars India Ltd (HCIL) said in a statement. Exports declined to 973 units last month as compared with 2,337 units in the year-ago period, it added. "Our sales performance in the month of Feb'23 has been as per our plan towards seamless transition of our models to new emission norms," Honda Cars India Director Marketing and Sales Yuichi Murata said. The company is currently gearing up for the launch of the new City, he added. "We are confident that it will generate new excitement and appealing options for customers," Murata noted.

In the fast lane: At 335,269 units, car sales create a February record

At the retail level, too, the industry posted 9.6 per cent YoY growth