Shares of vehicle manufacturers were climbing on Monday's session, after a number of automaker companies reported higher sales numbers for February 2025
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Automaker Kia India on Saturday reported a 23.8 per cent rise in total sales at 25,026 units in February compared to 20,200 units sold in the same month last year. The recently launched compact SUV Syros registered sales of 5,425 units in February with over 20,000 bookings, Kia India said in a statement. SUVs Sonet and Seltos clocked 7,598 and 6,446 units respectively while MPV Carens registered 5,318 units and Carnival Limousine had sales of 239 units last month, it added. "Kia India continues to grow steadily, driven by strong customer demand and our commitment to delivering cutting-edge mobility solutions...With a diverse and evolving product lineup, Kia India continues to respond to market demand with agility and precision," Kia India Senior Vice President and Head of Sales and Marketing, Hardeep Singh Brar said.
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Tata Motors on Saturday said its total vehicle dispatches declined 7 per cent year-on-year to 80,304 units in January. The auto major dispatched 86,125 units in January 2024. Total domestic sales declined 7 per cent year-on-year to 78,159 units last month, as compared to 84,276 units in the year-ago period, Tata Motors said in a statement. Total commercial vehicle sales stood at 31,988 units last month, as compared to 32,092 units in January 2024. Total passenger vehicle dispatches declined 11 per cent year-on-year to 48,316 units in January, as against 54,033 units in the year-ago period.
Tata Motors' consolidated profit for Q3FY25 fell 22.4 per cent year-on-year (Y-o-Y) to Rs 5,451 crore, from Rs 7,025 crore in Q3FY24
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In the previous session, the Sensex jumped 631.55 points, or 0.83 per cent, to settle at 76,532.96. The Nifty50 also added 205.85 points, or 0.90 per cent, to close at 23,163.10
Revenues of commercial and passenger vehicles were down 8.4% and 4.3%, respectively
At a time when the external environment is extremely cloudy, the Union Budget can look at consumption-boosting measures to push demand and drive domestic growth, Tata Motors Group CFO PB Balaji said on Wednesday. After a good festive season, demand has been weak due to a combination of factors, including tight liquidity and "not so great" market conditions although not a crisis situation, Balaji told reporters in an earnings call. Stating that there is an expectation of a gradual improvement in demand going forward with the fourth quarter being usually strong and due to the impact of infrastructure investments by the government, he said, "If, on top of it, there are consumption (boosting) measures (in the Budget), then that will help also navigate some of the not so great external situations that all of us face". "If there are a fair bit of clouds in their external horizon, what better place than to look at our internal consumption to drive it (growth) forward?" Balaji noted. Spell
The company's profit fell to Rs 5,451 cr ($630 million) in the quarter from Rs 7,025 crore a year before