Page 2 - Automobile Sales

Jaguar Land Rover reports best-ever sales at 3,582 units in Apr-Dec period

Luxury automaker Jaguar Land Rover on Thursday reported record sales at 3,582 units for nine months ended December 31, 2023. The company said its sales rose 93 per cent year-on-year as compared to the April-December period of the last fiscal. Range Rover and Defender continue to lead with a year-on-year (YoY) rise of 250 per cent, contributing to over 75 per cent of the current order book, the automaker said. In the October-December quarter, the company reported a 74 per cent YoY growth, achieving retail sales of 1,226 units, it added. The newly launched Range Rover Velar witnessed a YoY sales growth of 183 per cent in the quarter, JLR said. "Over the past nine months, JLR's progress in India has been characterised by consistent and substantial growth. Each quarter has shown an impressive year-on-year surge of nearly 100 per cent," JLR India Managing Director Rajan Amba said. The burgeoning order bank and continuous order intake signal a robust demand, underscoring promising futu

Aiming for double digit volume growth in 2024: Mercedes-Benz India MD & CEO

The German carmaker, which leads the luxury car market in the country, recorded a 10 per cent year-on-year growth to 17,408 units in 2023

Passenger vehicles in fast lane: 2024 begins with 75% surge in inventory

2023 saw 11% growth in automobile retail sales, setting the momentum for the year ahead

Delhi had highest share in total EV sales in country in December: Minister

This is the highest-ever monthly contribution among all states in the country to date, reflecting the success of the Delhi EV Policy launched in 2020

TVS Motor Company posts 25% jump in sales at 301,898 units in Dec

TVS Motor Company on Monday reported a 25 per cent rise in total dispatches at 3,01,898 units in December 2023. The company had sold a total of 2,42,012 units in December 2022, TVS Motor Company said in a statement. Two-wheelers sales were at 2,90,064 units in December 2023 as compared to 2,27,666 units in the same month last year, up 27 per cent, it added. Domestic two-wheeler sales grew by 33 per cent at 2,14,988 units in December 2023 as against 1,61,369 units in December 2022. Motorcycle sales rose by 19 per cent to 1,48,049 units last month as compared to 1,24,705 units in December 2022, while scooter clocked sales of 1,03,167 units as against 76,766 units in the year-ago month, a growth of 34 per cent. TVS Motor Co said it sold 11,232 units of iQube electric scooter in December 2023 as against sales of 11,071 units in the same month last year. Three-wheeler sales were at 11,834 units last month as compared to 14,346 units in December 2022, it added. Total exports were at

Passenger vehicles cruise to a record, small car sales skid 21% in Nov

Rajesh Menon, Director General of SIAM, said, "Passenger Vehicles posted the highest ever sales in November 2023 of 3.34 lakh units, albeit with a growth rate of 3.7 per cent

BMW India to hike car prices up to 2% from Jan 1 due to rising input costs

German luxury carmaker BMW on Monday said it will increase the prices of its vehicles by up to 2 per cent across the model range from January 1 to partially offset the adverse impacts of fluctuations in foreign exchange rates and rising input costs. BMW India's decision to implement a price increase across model range is a response to a confluence of factors, BMW Group India President Vikram Pawah said in a statement. "In the face of evolving dynamics, fluctuations in exchange rates, and rising input costs, this price adjustment will sustain the crucial balance that allows us to consistently deliver the high standards and power-packed experience our customers associate with BMW vehicles," he added. BMW India sells a range of luxury vehicles, starting from the BMW 220i M Sport to the BMW XM, priced between Rs 43.5 lakh and Rs 2.6 crore. The company joins the likes of other passenger vehicle makers such as Maruti Suzuki, Hyundai Motor India, Tata Motors, Mahindra & Mahindra, Honda, .

Ola Electric slashes sales goals by over half ahead of planned IPO: Report

The scaling back of Ola's targets comes ahead of its $700 million stock market debut plan, even though the SoftBank-backed company, continues to lead the small yet fast growing e-scooter market

Suzuki Motor Gujarat unit crosses 3 mn cumulative production milestone

Maruti Suzuki India (MSI) on Wednesday said its Gujarat-based unit has crossed 30 lakh cumulative production milestone. Suzuki Motor Gujarat (SMG) has surpassed the milestone within a span of around 6 years and 11 months since commencing operations in February 2017, MSI said in a statement. SMG has an annual production capacity of 7.5 lakh units and the vehicles manufactured at the plant are sold in both domestic as well as export markets. "With the acquisition of Suzuki Motor Gujarat, we are further enhancing our production flexibility. The production of our battery electric vehicles will also be undertaken at the Gujarat plant and is expected to start in FY 2024-25," MSI MD and CEO Hisashi Takeuchi stated. Currently, the facility rolls out some of the popular models like Swift, Baleno, Dzire and Fronx. Around 50 per cent of the vehicles manufactured at SMG in 2022-23, were exported to global markets, Takeuchi noted. MSI board recently approved the acquisition of SMG from Suzuki

Toyota Kirloskar Motor sales up by 51% at 17,818 units in November

Toyota Kirloskar Motor on Friday reported 51 per cent growth in sales at 17,818 units in November 2023 as compared to the year-ago month. The company had sold 11,765 units in November 2022, Toyota Kirloskar Motor (TKM) said in a statement. Domestic sales last month were at 16,924 units in the domestic market, while exports stood at 894 units, it added. The company had undertaken a week-long maintenance shutdown from November 11-19, 2023 for upkeep of machinery and equipment to sustain operational efficiencies, maintain quality and safety, the statement said. "We recorded a strong festive season with healthy bookings, and we are extremely thrilled to see the market responding very positively to our entire product range," TKM Vice President of Sales and Strategic Marketing Atul Sood said. TKM said its cumulative sales for calendar year 2023 (January-November) stood at 2,10,497 units, up 40 per cent over the same period in 2022, when the sales were 1,49,995 units.

No-cost, longer-tenure EMIs gain traction, drive consumer product sales

Notably, to address the concern of the rapid rise in unsecured consumer loans, the RBI increased the risk weight on consumer credit

Retail sales of automobile in domestic market dip 7.73% in Oct: FADA

Retail sales of automobiles in the domestic market saw a 7.73 per cent year-on-year decline in October this year at 21,17,596 units, mainly due to dip in two-wheeler uptake with the inauspicious period of Shraddh affecting new purchases, the Federation of Automobile Dealers Associations (FADA) said on Monday. Retail sales of automobiles in the domestic market stood at 22,95,099 units in October 2022, FADA said in a statement. Two-wheeler retail sales were at 15,07,756 units last month, as against 17,25,043 units in the year-ago period, down 12.60 per cent, as per the latest data by FADA. Similarly, passenger vehicle (PV) retail also declined by 1.35 per cent at 3,53,990 last month, as compared to 3,58,884 units in October 2022. On the other hand, three-wheeler sales were up 45.63 per cent at 1,04,711 units, as compared to 71,903 units in the year-ago month. Tractor retail sales also grew by 6.15 per cent at 62,440 units, as against 58,823 units in October 2022. Commercial vehicle

Festival season momentum lights up domestic PV sales, GST collection

PV sales climb new peak for 3rd straight month; GST mop-up at Rs 1.72 trn

Hero MotoCorp reports 26% jump in total sales to 574,930 units in October

Hero MotoCorp expects the demand to remain optimistic on the back of the recent product launches in the premium segment and the ongoing festive season

Auto retail sales up 9% in H1FY24; PVs, three-wheelers steal the show

Both three-wheelers and passenger vehicles witnessed their record H1 numbers during the period

Bajaj Auto September sales: Domestic 2W sales down 9% YoY; CV sales up 60%

Domestic commercial vehicle (CV) sales for Bajaj Auto grew by 60 per cent Y-o-Y as the automaker sold 50,683 units in September 2023, compared to 31,752 units sold in September 2022

20% cars sold in metros run on alternate fuels; sales doubled in last 3 yrs

Given the growing acceptance of hybrid and electric vehicles, the combined share of diesel and petrol vehicles has taken a hit and gone down by 8.27% and 4.64% in urban and rural markets, respectively

Entry-level bike buyers unlikely to return soon, says Bajaj Auto MD

Buyers at "the bottom of the pyramid" who were hit by the Covid pandemic, job losses and rising petrol price, are not coming back, Bajaj said

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

Honda launches new SUV Elevate priced at Rs 10.99L to reach H2 target

Honda had unveiled Elevate in June and opened bookings then. For some variants, the SUV already has a waiting period of as long as 5-6 months