Page 3 - Passenger Vehicle Sales

PV dispatches rise 4% in Nov as demand sustains post-festive period: Siam

Passenger vehicle dispatches from companies to dealerships rose 4 per cent year on year to 3,47,522 units in November with demand momentum sustaining post festive period in October, industry body SIAM said on Friday. The overall passenger vehicle dispatches stood at 3,33,833 units in November last year. Market leader Maruti Suzuki India dispatched 1,41,312 units to its dealers last month, an increase of 5 per cent as compared with 1,34,158 units in November last year. Hyundai Motor India dispatches declined to 48,246 units last month as against 49,451 units in the year-ago period. Mahindra & Mahindra sales stood at 46,222 units last month as compared with 39,981 units in November last year, a growth of 16 per cent Two-wheeler wholesales, however, declined by 1 per cent year on year to 16,04,749 units last month as compared with 16,23,399 units in the same month last year. Scooter sales rose 12 per cent year on year to 5,68,580 units last month while bike dispatches fell 7.5 per .

Tata Motors, Kia India to hike passenger vehicle prices from Jan 2025

Tata Motors and Kia India on Monday announced plans to hike vehicle prices from January to offset the impact of rising input costs. Tata Motors said it will hike the price of its passenger vehicle portfolio, including electric vehicles, by up to 3 per cent from January next year. The price hike is being undertaken to partially offset the rise in input costs and inflation, the Mumbai-based auto major said in a statement. "Effective January 2025, the price increase will vary depending on model and variant," it added. Tata Motors sells a range of passenger vehicle models ranging from Tiago hatchback to SUVs Harrier and Safari. Kia India, which sells models like Seltos and Sonet, said it will increase prices of its entire model range by 2 per cent from January. The price hike, effective from January 1, 2025, is primarily due to rising commodity prices and escalating supply chain-related costs, the automaker said in a statement. Kia India Senior Vice President Sales and Marketing -

Nuvama bets on M&M, TVS Motor & Uno Minda ahead of November auto sales data

On the bourses, M&M has gained about 6% over the past month, while Uno Minda has surged more than 6%. On the flipside, TVS Motor dropped over 1%. In comparison, BSE Auto index declined nearly 2.5%

Icra cuts PV factory dispatch outlook down to 0-2% on high inventory level

Rating agency Icra on Monday revised downwards the outlook for passenger vehicle factory dispatches to showrooms in the current fiscal on acccount of high inventory levels. Despite good retail sales, a year-on-year growth of 6 per cent in April-October FY2025 partially on account of an early festive season, the high inventory levels for the industry curtailed wholesale volume growth, as per a report on the domestic automotive industry by the domestic ratings agency. "ICRA has thus revised the outlook for the wholesale volume growth for the industry in FY2025 downwards to 0-2 per cent," it added. The rating agency had earlier pegged PV wholesale growth at 3-6 per cent for 2024-25 fiscal. Retail sales of passenger vehicles during the festive season grew at a moderate pace of 6 per cent year-on-year to 6.5 lakh units, aided by attractive discounts and competitive financing rates. ICRA also revised the outlook for the wholesale volume growth for the industry to 11-14 per cent in FY202

Oct vehicles sale: Hyundai, JSW MG's sales up, Tata Motors' marginally down

Hyundai Motor India Ltd (HMIL) on Friday reported a 2 per cent increase in total sales at 70,078 units in October as compared to 68,728 units in the same month last year. Domestic sales were up marginally at 55,568 units last month as compared to 55,128 units in October 2023, the newly listed firm said in a regulatory filing. Exports were up 6.7 per cent at 14,510 units as compared to 13,600 units in the year-ago month, it added. "We witnessed a strong demand for our SUV portfolio during festive period, leading to our highest-ever monthly SUV sales at 37,902 units, including the highest-ever monthly domestic sales of the Hyundai CRETA at 17,497 units," HMIL Chief Operating Officer, Tarun Garg said. SUVs remain a cornerstone of the company's lineup, representing 68.2 per cent of the total monthly sales in October 2024, with similar penetration in urban as well as rural markets, he added.

Passenger vehicle sales growth expected to be below 5% in FY25: Siam Prez

May and June affected us badly, says Shailesh Chandra

Passenger vehicle sales drops 19% in September, inventory hits record high

Fada, however, said that the near-term outlook for automobile retail is cautiously optimistic as both Navratri and Diwali fall in the same month, creating strong expectations for a surge in sales

Hero MotoCorp sales increases by 19% to 637,050 units in September

Hero MotoCorp on Tuesday said its wholesales increased 19 per cent year-on-year to 6,37,050 units in September. The two-wheeler major had dispatched 5,36,499 units to dealers in September 2023. The company said its domestic sales rose to 6,16,706 units last month from 5,19,789 units in the year-ago period. Exports rose to 20,344 units last month compared to 16,710 units in the same month last year. "A positive sentiment is prevalent in the industry as it approaches the festive season on the back of a good monsoon," the company said in a statement. The company is geared up with a host of customer offers in line with previous festive periods across its wide portfolio, it added. The company said it has a strong pipeline of bookings and is experiencing increased customer footfall leading up to the festive season. The two-wheeler major expects healthy growth during the 32-day period starting from October 3, it noted.

Passenger vehicle wholesales dip 2% in August as OEMs cut dispatches

Domestic passenger vehicle wholesales declined by about 2 per cent year-on-year in August as companies curtailed dispatches to reduce inventory at dealers amid a drop in demand. According to data issued by the industry body Society of Indian Automobile Manufacturers (SIAM), the total passenger vehicle dispatches in the domestic market stood at 3,52,921 units last month compared to 3,59,228 vehicles in August 2023, a dip of 1.8 per cent. Two-wheeler wholesales rose 9 per cent to 17,11,662 units last month against 15,66,594 units in the year-ago period, it added. Scooter dispatches last month climbed to 6,06,250 units from 5,49,290 units in August 2023, a growth of 10 per cent. Similarly, motorcycle dispatches from companies to dealers increased by 8 per cent to 10,60,866 units last month from 9,80,809 units in August 2023. The total three-wheeler sales grew 8 per cent to 69,962 units last month against 64,944 units a year ago. "Looking ahead, as the country enters the festive seas

Despite rise in exports, Chinese car sales fall for fifth straight month

Sales fell 1.1 per cent from the same month a year earlier to 1.92 million vehicles, data from the China Passenger Car Association showed

August PV sales down 4.5% due to rains, 'alarming' leftover inventory

Dealers must stop taking in additional stock to protect their 'financial health', says FADA

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

Passenger vehicle wholesales fall 2.5% in July as retail inventory piles up

SIAM is set to discuss the alarming rise in PV inventory in its upcoming executive committee meeting

Shifting gear: PV inventory surges even as auto retail sales rise

Pileup shoots to historic high, equating to Rs 73,000 cr worth of stock

Suzuki expects India's automobile market to grow fivefold by 2047

A total of 4.2 million passenger vehicles were sold in India in the fiscal year ended in March, according to the Society of Indian Automobile Manufacturers

Car sales stay on growth track in H1 despite poll, heatwave roadblocks

Maruti Suzuki's domestic PV wholesales during the month increased by 3 per cent year-on-year to 137,160 units in June, compared to 133,027 units during the same month in 2023.

Passenger vehicle sales to see moderate 3-5% growth this fiscal: Report

Passenger vehicle sales is projected to grow at a moderate 3-5 per cent this financial year on account of a high-base effect of FY24, shrinking order book and subdued demand for entry-level variants, a report said on Monday. According to the report by credit ratings agency CareEdge, following robust growth of 90 per cent with volumes at 90,432 units in FY24, with an improving penetration rate, electric car sales in the passenger vehicle (PV) segment is likely to clock volume of around 1.30-1.50 lakh units in FY25. In FY22 and FY23, the PV industry experienced substantial year-on-year volume growth due to pent-up demand post-Covid recovery and new product introductions, it said. Utility vehicles played a significant role, with volumes increasing by 41 per cent in FY22 and 33.2 per cent in FY23. The industry benefitted from lower interest rates and an increased desire for personal mobility in the wake of the pandemic, CareEdge said. According to CareEdge, utility vehicles contributed

Domestic passenger vehicle sales rise 4% in May to 347,492 units: Siam

Passenger vehicle wholesales in India increased 4 per cent year-on-year in May to 3,47,492 units, as compared to the same month last year, industry body SIAM said on Tuesday. Overall passenger vehicle (PV) dispatches from companies to dealers stood at 3,34,537 units in May 2023. "Passenger vehicles have only witnessed a moderate growth, primarily owing to a high base effect of the previous year," the Society of Indian Automobile Manufacturers (SIAM) President Vinod Aggarwal said in a statement. Two-wheeler sales rose 10 per cent to 16,20,084 units last month, as compared to 14,71,550 units in the year-ago period. Three-wheeler dispatches rose 15 per cent to 55,763 units in May, as against 48,610 units in May 2023.

LS polls, extreme heat drag passenger vehicle sales down by 1% in May

"Despite better supply, some pending bookings and discount schemes, the lack of new models, intense competition and poor marketing efforts by OEMs affected sales

Domestic PV sales increase by 4% to 350,257 in May amid elections, heat

The share of hatchbacks in total PV sales has reduced from 47 per cent in 2020 to about 25 per cent in 2024