Page 2 - Pv Sales

Rise in auto loan interest rates could impact PV sales: Maruti Suzuki

Passenger vehicle sales in India could be weighed down by increase in interest rates for auto loans, if there is no reduction in repo rates going forward as the industry gears up for a single-digit growth this year, according to Maruti Suzuki India Senior Executive Officer (Marketing and Sales) Shashank Srivastava. With a high base of record 41.08 lakh units in 2023, passenger vehicle (PV) sales this year could grow in single digit with the overall economic growth of the country being a positive factor, he said. "The auto industry growth is largely dependent on the growth in the overall economy, the GDP per capita growth that's projected 6-6.5 per cent. There's a very high correlation between the two... so that is a positive side," Srivastava told PTI. However, he said, "We have reached a very high level of base, and on that base a continuous high growth may be a little difficult. We saw in 2021 the growth to be almost 27 per cent, in 2022 it was 23 per cent. In 2023 it is 8.3 per .

Powered by utility vehicles, PV dispatches jump 9% in August: Siam

Passenger vehicle wholesales in the country rose 9 per cent year-on-year in August on the back of strong demand for utility models, including SUVs, industry body SIAM said on Monday. Overall passenger vehicle dispatches to dealers rose to 3,59,228 units last month from 3,28,376 units in August 2022. Utility vehicle sales increased 34 per cent year-on-year to 1,81,825 units. Passenger car dispatches, on the other hand, declined 10 per cent to 1,20,031 units from 1,33,477 units in August 2022. Van wholesales also dipped to 11,859 units from 12,236 units. "Last month saw the highest ever August month sales for passenger vehicles and three-wheelers," Society of Indian Automobile Manufacturers (SIAM) President Vinod Aggarwal said in a statement. Three-wheeler sales rose to 64,763 units in August as against 38,369 units in the same month last year. Two-wheeler dispatches increased to 15,66,594 units from 15,57,429 units. "Two-wheeler sales remained at levels similar to a year ago," Agga

Auto sales up 9% in August, PV inventory at an all-time high: FADA

Adopting a cautious stance for the near-term outlook, FADA said that low rainfall may impact rural auto demand during the upcoming festive season

Car sales zoom to new high in August, signal strong festival show

GST collection, manufacturing activities robust, too

EV push, pent-up demand: Why auto exports fell in April amid healthy sales?

According to experts, it may take some time for auto exports to touch 2016 peak numbers

Domestic PV wholesales jump by 12.9% in April amid sturdy demand

Hyundai Motor domestic PV sales jumped by 13 per cent to 49,701 units

Passenger vehicle sales expected to grow 9-10% in 2024: Crisil Ratings

Higher incomes and a strong order book driven by pent-up demand, especially for SUVs, will support domestic growth even as exports remain sluggish helping vehicle sales touch a record of 5 mn units

India's fuel demand hits 9-month high in Dec due to uptick in PV sales

On a daily basis, consumption of gasoline rose marginally in December compared to the previous month

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2022 car sales zoom 23% to record high of 3.8 mn; 14% higher than 2018 peak

This is mainly on pent-up demand and better semiconductor chip supply

Passenger vehicle wholesales rise 28 per cent in Nov on robust demand

Passenger vehicle wholesales in India rose 28 per cent year-on-year in November, aided by robust demand for both utility vehicles and cars, industry body Society of Indian Automobile Manufacturers said on Tuesday. Overall passenger vehicles dispatched from companies to dealers stood at 2,76,231 units last month as compared to 2,15,626 units in November 2021. Utility vehicle wholesales rose 32 per cent to 1,38,780 units in November against 1,05,091 units in the year-ago period. Similarly, passenger car dispatches increased 29 per cent to 1,30,142 units from 1,00,906 units in November 2021. Van sales, however, dropped to 7,309 units last month from 9,629 units in November 2021. "Positive consumer and business sentiments have reflected in the better sales in the month of November 2022, compared to the previous year," Society of Indian Automobile Manufacturers (SIAM) President Vinod Aggarwal said in a statement. There is a sequential decline in wholesales over October 2022 attributab

June qtr PV sales overtake Q1FY19 volumes, two-wheeler sales lag

Entry-level cars, two-wheelers remain in slow lane; two-wheeler exports jump

Passenger vehicle retail sales dip 5% in March to 271,358 units: FADA

Domestic passenger vehicle retail sales in March declined by 4.87 per cent to 271,358 units, as compared to the same month last year, automobile dealers' body FADA said on Tuesday.

PV demand to witness moderate growth over next few quarters: Report

The demand for passenger vehicles (PVs) will witness moderate growth over the next few quarters with complete unlocking of the economy and revival of demand, particularly in the rural areas, according to Acuite Ratings & Research. However, it said the volumes may remain partly constrained due to the continuing supply challenges in semiconductors and also the sharp increase in retail fuel prices. The domestic PV sales registered a healthy growth of 14.7 per cent year-on-year in FY22 despite the supply challenges in semiconductors that led to longer waiting periods and production cuts for certain models, Acuite said in a statement. The growth print was also supported by a low base factor, given the protracted lockdown in FY21, it added. "Acuite believes that the demand for PVs will witness a moderate growth over the next few quarters with complete unlocking of the economy and revival of demand, particularly in the rural areas," it said. For two-wheelers, the rating agency said the .

Easing supply side constraints of semiconductors fuel March PV sales' rise

Easing supply side constraints of semiconductors as well as healthy demand led many passenger vehicle manufacturers to report healthy wholesales during last month.

Retail sales of domestic passenger vehicle dip 8% in February: FADA

The industry body warned that the Russia-Ukraine conflict could further impact the production of semiconductors

Statsguru: Six charts explain India's uneven economic recovery

A key reason for lower than expected inflation projections could be weak demand

PV exports from India rise 46% in April-Dec; Maruti Suzuki leads segment

Passenger vehicle exports from India increased 46 per cent in the first nine months of the current fiscal year, with Maruti Suzuki India leading the segment with dispatches of around 1.68 lakh units

Two-wheeler to car sales: Record low ratio shows Covid impact on poor

Analysts fear that this time, it may take many years of double-digit growth for the industry to recoup the loss in sales volume

Low base effect pushes up India's domestic PV sales in August

Low base effect along with pent up demand pushed India's domestic private vehicle (PV) sales higher on a year-on-year basis in August.