Page 4 - Car Sales

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

Tata Motors total vehicle sales climb 6% to 86,125 units in January

Tata Motors on Thursday said it has reported a 6 per cent year-on-year increase in its total vehicle sales (including international markets) at 86,125 units in January. The company had sold a total of 81,069 vehicles in January last year, according to a statement. During the last month, total domestic sales stood at 84,276 units as against 79,681 units in January 2023, logging a 6 per cent year-on-year growth. At the same time, total commercial vehicle sales declined 2 per cent to 32,090 units in the previous month from 32,780 vehicles in January last year, it said. The total passenger vehicle domestic sales, including EVs, grew 12 per cent to 53,633 units in the month as compared to 47,987 vehicles a year ago.

Loans for purchasing cars a rising trend in India, finds Jato Dynamics

Fleet sales, which comprise car sales to companies, organisations, and government entities that own a fleet of cars, have also seen a significant increase

BMW Group India races to new peak in record year for luxury car sales

Govt should rationalise duty structure if it wants faster adoption of new technologies: India head Pawah

PV sales surge past 4 mn, fueled by SUV demand, record December wholesales

Interest rate hikes, high base of 2023 may result in muted volume growth in 2024

MG Motor India posts 18% growth in retail sales at 56,902 units in 2023

MG Motor India on Monday reported an 18 per cent growth in total retail sales at 56,902 units in 2023 as compared to the previous year. In December 2023, the company's retail sales were 4,400 units, up 13 per cent from the year-ago month, MG Motor India said in a statement. The company further said with a growth of 18 per cent in 2023 it recorded the fourth consecutive year of growth. It had around 25 per cent of its total sales coming from electric vehicle (EV) models, it said. The company's flagship EV, ZS, the Comet have sold around 20,000 units till date.

After an impressive festive season, car sales likely to cool down in Dec

December is usually marked with weaker sales as customers tend to wait for the new year to get the newest cars with the changed model year

MHI introduces amendment to automobile wheel rim quality control order

Each two-wheeler manufacturer is also permitted to import a maximum of 70,000 units of two-wheeler automotive wheel rims for manufacturing 35,000 vehicles

Kia India eyes 10% growth in sales volume next year: MD & CEO Tae-Jin Park

Park, however, anticipates the overall domestic passenger vehicle (PV) sales in the industry to stay "flat" in 2024, as demand primarily exists for sport utility vehicles (SUVs)

The new @UTO Motto: Why makers of 2-wheelers, cars are embracing ecommerce

Dealerships remain the primary point of sale, but this is a fast-evolving scenario, catalysed by both Amazon as well as Flipkart introducing the auto category last year

Honda Cars India wholesales increase 24% to 8,730 units in November

Honda Cars India on Friday reported a 24 per cent increase in wholesales to 8,730 units in the domestic market in November. The company had dispatched 7,051 units in the domestic market in November 2022, Honda Cars India Ltd (HCIL) said in a statement. Exports grew by over four-fold at 3,161 units last month as against 726 units in the year-ago period, it added. "Our product line-up saw a good surge in demand throughout the festive period. Our new SUV Elevate has been well received by the market with very high customer consideration," HCIL Director (Marketing and Sales) Yuichi Murata stated. The automaker is confident of carrying forward this growth momentum for the rest of the year, he added.

Festive demand, better production lead to highest-ever Nov PV wholesales

Passenger vehicle (PV) dispatches rose to the highest-ever level for November month as the companies pushed supplies to dealers to cater to the enhanced demand in the festive season. The overall passenger vehicle wholesales rose to 3.35 lakh units last month, up 3.9 per cent from 3.22 lakh units in November 2022. "It is the highest-ever November wholesale figure for the passenger vehicle segment," Maruti Suzuki India (MSI) Senior Executive Officer (Marketing and Sales) Shashank Srivastava told reporters in a virtual call. He noted that factors like enhanced demand during the festive period and better production due to the availability of electronic components played a role in robust wholesales last month. Srivastava noted that the industry is expected to close the current financial year with the best-ever yearly wholesales of over 41 lakh units. He, however, noted that the industry is witnessing a drop in retail and bookings post November 15. He said that hybrid vehicle sales hav

From budget to luxury, cars to get more expensive from January 2024

The carmakers cited high cost pressure, driven by overall inflation and increased commodity prices, behind the price hike plans

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

Carmakers shift into overdrive with extended festival season deals

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

Car makers break festive season records, do record sales of Rs 1.3 trillion

Driven by consumer demand, automobile companies sold 1.14 million vehicles, averaging nearly 13,000 units daily

Bumpy road! Pakistan car sales continue to fall; 6,200 units sold in Oct

Motorcycle sales in Pakistan have declined by around 10% in the first four months of the financial year, which is largely due to the decreasing purchasing capacity among the common masses

Hyundai India set for SUVs accounting over 60% of sales in 2023: COO Garg

Hyundai Motor India Ltd is on track to achieving 60 per cent of its total domestic sales from SUVs this year with models like Creta and the newly launched Exter accelerating the growth, according to company COO Tarun Garg. With exports accelerating in the last three months, the company is also confident of sustaining its overseas shipments momentum despite concerns over global geopolitical situation. "We will end up with more than 60 per cent at the end of the year which is what we said at the beginning of the year...We are now almost reaching there," Garg told PTI. He was responding to a query on how much would SUVs contribute to the company's overall sales considering the traction its models have witnessed in the market. He further said,"For us the good thing has been that SUV contribution has moved to 63 per cent in October and year-to-date at 59 per cent as against industry SUV percentage of 48 per cent. So that has really helped us to outperform the industry in terms of Januar

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

Driving the change: Luxury car buyer is getting younger in India

Around 59 per cent of BMW buyers (in the luxury class) are aged between 31 and 45 years, and 35 per cent of its buyers are existing customers