Page 3 - Car Sales

EU set to disclose tariff rates for Chinese electric vehicles this week

The move comes as European automakers are being challenged by an influx of lower-cost EVs from Chinese rivals. Still, there is virtually no support for tariffs from the continent's auto industry

Retail car sales drop in May as LS polls, weather delay purchases: Fada

Sales growth in two-wheelers slowed to 2.6 per cent in May from 33 per cent in April, said the FADA, which tracks monthly retail sales from dealers to buyers

PV exports rise by 268K units in last 4 years; Maruti's biggest gainer

Passenger vehicle exports from India rose by 2.68 lakh units in the last four financial years with Maruti Suzuki India accounting for nearly 70 per cent of the incremental shipments during the period. As per the industry data, passenger vehicle exports in the 2020-21 fiscal stood at 4,04,397 units. It rose to 5,77,875 units in the 2021-22 fiscal year and to 6,62,703 units in 2022-23 financial year. Last fiscal, exports stood at 6,72,105 units, an increase of 2,67,708 units since 2020-21. In the last three fiscal years, Maruti Suzuki has accounted for 70 per cent of the incremental 2,67,708 units across the industry which were shipped to overseas markets. The auto major's export shipment increased by 1,85,774 units between FY21 and FY24. When contacted, Maruti Suzuki India Executive Officer Corporate Affairs Rahul Bharti said that factors like addition of more models, adherence to global production standards and tie-up with Toyota have helped in ramping up the exports' volume. He

Hyundai sales up 7% at 63,551 units, sells total 59,601 units in May

Hyundai Motor India Ltd (HMIL) on Saturday reported 7 per cent year-on-year increase in total sales at 63,551 units in May. The company sold a total of 59,601 units in May 2023, HMIL said in a statement. Domestic dispatch of vehicles to dealers saw 1 per cent rise to 49,151 units last month from 48,601 units in the year-ago period. Exports grew 31 per cent in May to 14,400 units, as compared with 11,000 units in the year-ago period. "We have maintained a healthy total sales volume in May 2024, despite a week-long routine bi-annual maintenance shutdown at our Sriperumbudur factory," HMIL COO Tarun Garg said. SUVs continue to be a growth driver for HMIL, accounting for more than 67 per cent of domestic sales last month, he added. "Our rural penetration stood at a healthy 20.1 per cent in May," Garg said.

M&M May wholesales surge 17% to 71,682 units, exports increase 2%

Mahindra & Mahindra on Saturday said its total wholesales increased 17 per cent year-on-year to 71,682 units in May. The company's total dispatches to its dealers stood at 61,415 units in May 2023. The Mumbai-based auto major's passenger vehicle sales in the domestic market rose 31 per cent to 43,218 units last month against 32,886 units in May 2023, it said in a statement. Exports rose 2 per cent year-on-year to 2,671 units last month from 2,616 units in May 2023. Mahindra's Farm Equipment Sector (FES) reported 9 per cent increase in total tractor sales at 37,109 units as against 34,126 units for the same period last year. "Coupled with timely arrival of southwest monsoon in Kerala and northeast states and forecast of an above normal monsoon has improved the on-ground sentiments of farmers," Mahindra & Mahindra President, Farm Equipment Sector Hemant Sikka said. Land preparation activities for Kharif crops are expected to begin on time, which is likely to boost tractor ...

Toyota's global volumes fall in April as sales drop in China and Japan

Toyota's Japan sales were hit by a temporary halt to production of the Prius model at its Tsutsumi plant for quality checks and a partial halt of production at a line at a Toyota Auto Body plant

SUVs dominate rural India: Hyundai's sales in January-April 2024 surge

In the first four months of this year, SUVs like the Exter, Venue, and Creta made up 67 per cent of Hyundai's rural sales, doubling their share since 2020

Indian small car exports thrive as domestic demand shifts to SUVs

Maruti Suzuki, Hyundai, Kia, Citroen, Volkswagen, Honda, Nissan, and Renault are finding markets abroad

Mahindra sales up 13% in April at 70,471 units, PV sales at 41,008 units

Mahindra & Mahindra on Thursday said its total wholesales increased 13 per cent year-on-year to 70,471 units in April as compared to the same month last year. The company's total dispatches to its dealers stood at 62,294 units in April 2023. The Mumbai-based auto major's passenger vehicle sales in the domestic market rose 18 per cent to 41,008 units last month against 34,698 units in April 2023, it said in a statement. Total exports increased 2 per cent to 1,857 units last month from 1,813 units in the year-ago period. The company said its tractor sales in April 2024 rose 2 per cent to 37,039 units as against 36,405 units in the same period last year. "Government's wheat procurement operations are going on in full swing with good mandi arrivals, keeping the rural cash flows healthy," M&M President,? Farm Equipment Sector Hemant Sikka said. IMD's forecast of an above normal monsoon rains and festivals in the month of April have helped bring positivity in rural sentiments, he ..

Toyota hits record annual output, sales on account of robust demand

The world's largest automaker by volume, however, saw its sales and production fall in March amid fierce competition in China, the world's largest auto market

Expect rural sales contribution at record levels in FY25: Hyundai official

Hyundai Motor India expects sales contribution from rural areas to remain at record levels in the current fiscal as well on account of various factors including anticipation of a favourable monsoon, according to a senior company executive. The country's second-largest automaker, which sells models like Creta and Venue, reported 11 per cent growth in rural areas last fiscal as compared to 4 per cent in urban centres. "We are confident that the contribution from rural markets to our total sales will grow further to around 20 per cent this financial year," Hyundai Motor India COO Tarun Garg told PTI. The automaker plans to further expand its presence in smaller towns as it firmly believes that for the nation to prosper, both rural and urban regions must progress in tandem, he added. Garg noted that rural sales accounted for an all-time high of 19 per cent of the company's total sales in FY23. Hyundai Motor India registered its highest ever total sales of 7,77 876 units in 2023-24 wit

VinFast Q1 results: Loss narrows $618.3 mn even as car sales fall

The company reported a net loss of $618.3 million in the first three months of this year, decreasing 12.3% from the fourth quarter, the company said in a filing

Tata Motors' total domestic wholesales rise 2% to 90,822 units in March

Tata Motors on Monday reported a 2 per cent rise in its total domestic wholesales at 90,822 units in March. In the year-ago period, the company posted total domestic wholesales of 89,351 units. Sales of passenger vehicles, including electric vehicles, in the domestic market, were at 50,297 units in March as compared to 44,225 units in the same period last year, up 14 per cent, it added. Total commercial vehicle dispatches in the domestic market last month stood at 40,712 units, down 10 per cent as against 45,307 units in March 2023. For the fiscal ended March 31, 2024, the company said its total wholesales in the domestic market stood at 9,49,015 units, up 2 per cent from 9,31,957 units in 2022-23. Last fiscal, passenger vehicle wholesales stood at 5,73,495 units, up 6 per cent from 5,41,087 units in FY2022-23. Commercial vehicle dispatches in the domestic market declined by 4 per cent to 3,78,060 units last fiscal from 3,93,317 units in the year-ago period. "In FY24, the compan

Polls may rev up 2-wheeler sales but passenger vehicles likely to be a drag

But passenger vehicle sales may hit slow lane, say industry experts

Shut OLX Auto due to focus on profitable growth: CarTrade's Aneesha Menon

Our dominance in the consumer group is unparalleled, especially in the auto portal segment, said Aneesha Menon

Tata Motors to split CV, PV businesses into separate listed companies

Analysts feel move will allow them to fetch better valuation for PV business that houses the EV biz

Bringing a plug-in-hybrid for India makes no sense for Skoda: Senior exec

Automakers have to be 'flexible and agile' to act according to customers' wishes and government regulations, says Martin Jahn

Accepting our income demographics

With the blurring urban-rural income divide and the diminishing mental and physical distinctions, large mass markets with modest-income consumers are finally emerging

Tata Motors Q3 results: Net profit jumps 137% to Rs 7,025, revenue up 25%

The company remains upbeat on all three auto businesses and expects to do better in Q4

Automakers post highest ever monthly passenger vehicle wholesales in Jan

The preceding peak occurred in October 2023, with domestic sales by automakers reaching 391,811 units in India during the festive period