Page 2 - Auto Demand

Tata Motors reports 8% wholesales increase in February at 86,406 units

Tata Motors on Friday reported an 8 per cent rise in its total wholesales to 86,406 units in February as compared with 79,705 units in the same month last year. The total domestic sales stood at 84,834 units last month against 78,006 units last month, a growth of 9 per cent, Tata Motors said in a regulatory filing. Sales of passenger vehicles, including electric vehicles, in the domestic market, were at 51,321 units as compared to 43,140 units in the year-ago month, up 19 per cent, it added. Total commercial vehicle sales declined by 4 per cent last month to 35,085 units from 36,565 units in February 2023, it added.

CV growth worries, sustainable margin gains key concerns for Bosch

While localisation efforts and margin improvement are medium-term positives, the immediate trigger is the healthy Q3 show

Budget 2024: Allocation for Auto PLI rises over seven-fold to Rs 3,500 cr

The government on Thursday announced an over seven-fold increase in allocation for the automotive industry's production-linked incentive scheme for 2024-25 to Rs 3,500 crore, the interim budget documents showed. According to the Expenditure Budget, a sum of Rs 3,500 crore has been earmarked towards the Production Linked Incentive (PLI) scheme for automobiles and auto components in the financial year beginning March, up from a revised estimate of Rs 483.77 crore in the current fiscal. Additionally, the budget for the PLI scheme for advanced chemistry cell and battery storage has been hiked from Rs 12 crore to Rs 250 crore in 2024-25. The Ministry of Heavy Industries recently extended the tenure of the PLI scheme for automobile and auto components by one year, with incentives now applicable for five consecutive financial years starting 2023-24. The Union Cabinet had approved the PLI-Auto scheme on September 15, 2021 with a budgetary outlay of Rs 25,938 crore for a period of 5 years .

Govt to examine demands for inclusion of more components in Auto PLI: Min

The government has constituted a committee to examine the auto industry's demand for including more components in the production-linked incentive scheme for automobile and auto components, Union Minister Mahendra Nath Pandey said. "A committee has been constituted to examine demands from stakeholders to include more (automotive) components in the scope of the PLI scheme as technology keeps evolving. It will be chaired by an Additional Secretary in the Ministry of Heavy Industries and have 11 members including those from testing agencies like ARAI and the auto industry," the heavy industries minister told PTI. The minister was speaking on the sidelines of a conference on Auto PLI here on Tuesday. Considering the need of the auto industry, the ministry has extended the tenure of the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components by one year and incentive will be provided for determined sales for a total of five consecutive financial years, starting from th

Renault to launch upgraded variants of its cars to boost sales in India

Renault and its alliance partner Nissan will pump nearly $600 million in India over the next three years in a bid to boost its sales

Auto retail sales in India grew 21% in December, 11% in 2023: Fada

In the near term and short term, the outlook of auto sales remains positive, despite an anticipated slowdown in the Kharmas period from December 16 to January 15

Consumers moved away from diesel vehicles in 2023; EV, hybrid sales rise

SUVs, on the other hand, are likely to grow up to 54-55 per cent from a current level of 48.7 per cent. It has already grown from 42 per cent in 2022 to nearly 49 per cent in 2023

HP govt restricts departments from buying diesel-petrol vehicles from Jan 1

Chief Minister Sukhvinder Singh Sukhu has directed government departments not to buy diesel and petrol vehicles from January 1, 2024, according to a statement. This will promote e-vehicles and help the state achieve the goal of 'Green and Clean Himachal', it said. In case a department wants to purchase a diesel or petrol vehicle it will have to seek the approval of the state cabinet, it said. "In an initiative to achieve the goal of 'Green and Clean Himachal', Chief Minister Thakur Sukhvinder Singh Sukhu has directed all government departments not to buy diesel or petrol vehicles from January 1st, 2024," the statement said. The chief minister said the number of government e-vehicles has reached 185 and that of private e-vehicles registered in the state at 2,733 thanks to the consistent efforts of the government. "Our government is promoting e-vehicles in Himachal in a big way. The Transport Department becomes the first department to replace its official vehicle fleet with e-vehicl

Year ender 2023: Top auto launches of the year and what to expect in 2024

In 2023, Maruti Suzuki launched the Baleno-based crossover, Fronx, Brezza's facelift, and an all-new Grand Vitara in the SUV space and grabbed more than 50% share of the segment

Toyota's global output surges 11% in Nov, sees record high on strong demand

Domestic sales for the month shot 27% higher, sales in both the United States and China increased by 17%, while those in Europe climbed 15%

Top gear: Two-wheelers lead the line for auto festival sales this year

The Federation of Automobile Dealers Associations (FADA) data showed a 19 per cent growth in auto sales during the 42-day festival period in 2023

MG Motor India retail sales increase by 2% to 4,154 units in November

MG Motor India on Friday said its retail sales increased by 2 per cent to 4,154 units in November 2023. The automaker had sold 4,079 units in November 2022. EV sales continued to account for around 30 per cent of the total vehicles sold last month, MG Motor India said in a statement. The recent collaboration with Charge Zone reasserts the focus of the company on boosting EV infrastructure and it has so far established a network of more than 12,000 chargers across the country, it added.

Carmakers shift into overdrive with extended festival season deals

An industry source added that the sector is fearing lower sales in November and December

FMCG supply chain gridlock: Demand declines and inventory adds up

The situation remains the same even in central India as inventory days have gone up to 20 days which was lower earlier

Oct auto retail sales dip 8% due to Shraddh period; Navratri sales up 18%

Navratri of 2023 marked a milestone, with retail sales soaring by 18 per cent year-over-year, surpassing the figures of Navratri 2017

Honda Cars posts 17% increase in total sales to 13,083 units in October

Honda Cars India on Wednesday posted a 17 per cent increase in total wholesales at 13,083 units in October. The company had dispatched 11,221 units in the year-ago period, the automaker said in a statement. Domestic sales stood at 9,400 units last month as against 9,543 units a year ago. Exports grew to 3,683 units last month as against 1,678 units in October last year, it added. "There is a strong demand during the festival period with incredible response for our new model Elevate from our customers. We are actively working to meet the strong demand for the model," Honda Cars India Director (Marketing and Sales) Yuichi Murata said. The City and Amaze models have also maintained their good performance, he added. "As we near the auspicious celebrations of Dhanteras and Diwali, our dealerships are focusing on maximising deliveries to our esteemed customers," Murata said.

Amid strong festive demand, car dispatches likely to make new record in Oct

Car sales have broken the sales record for a third straight month in October

KPIT Technologies Q2 results: Net profit zooms 69% at Rs 141 crore

Auto industry-focused KPIT Technologies on Monday reported a 69.21 per cent jump in its September quarter net profit at Rs 141 crore. The Pune-headquartered company had reported a post tax profit of Rs 83.5 crore in the same quarter a year ago. Its revenues from operations grew to Rs 1,199 crore in the reporting quarter as against Rs 745 crore in the same period a year ago and Rs 1,098 crore in the preceding April-June quarter. The company said it is now aiming to close FY24 with a growth of 37 per cent in revenues on a constant currency basis, as against the earlier target of 27-30 per cent. It was able to maintain the operating profit margin at 20 per cent in the quarter, which led the company to improve its guidance of keeping the number at over 20 per cent in FY24, from 19-20 per cent projected earlier. The company reported new deal wins of USD 156 million during the quarter, including a multi-year engagement on autonomous driving with a European car manufacturer and some work

Two-wheeler sales back on track; analysts expect 8-12% growth in FY24

Industry experts are hoping for better numbers during the festive period's sweet spot, set to unfold over the next 42 days

Auto workers shut down Ford's largest factory, threaten Stellantis

The United Auto Workers union significantly escalated its walkout against Detroit's Three automakers, shutting down Ford's largest factory and threatening Jeep maker Stellantis. In a surprise move on Wednesday night, 8,700 members left their jobs at Ford's Kentucky truck plant in Louisville. And Thursday morning, union President Shawn Fain hinted at further action against Stellantis. Here's to hoping talks at Stellantis today are more productive than Ford yesterday, Fain wrote on X, formerly Twitter, without saying what might happen. Ford's truck plant makes heavy-duty F-Series pickup trucks and large Ford and Lincoln SUVs, hitting the company's most lucrative products. The vehicles made at the plant generate USD 25 billion per year in revenue, the company said in a statement. Fain said in a statement that the union has waited long enough but Ford hasn't gotten the message to bargain for a fair contract. If they can't understand that after four weeks, the 8,700 workers shutting dow