Passenger Vehicle Market Share

Domestic PV sales set to exceed 5mn; TaMo set to tap growth opportunity

Domestic passenger vehicle segment is expected to cross the 50 lakh-mark of annual sales over the next few years and Tata Motors is geared up to tap into this growth opportunity, according to Tata Group Chairman N Chandrasekaran. In a message to the company's shareholders in Annual Report for 2023-24, he noted that the company will focus on revenue growth and strong free cash flows across its businesses going ahead. "India is well on track to exceed the 5 million vehicle sales mark in passenger vehicles over the next few years from the 4.1 million volumes clocked last year," Chandrasekaran said. India's vehicle penetration, at about 30 vehicles per 1,000 population, is well below global norms and is expected to continue to increase, he noted. "Tata Motors is well placed to further strengthen its market position and tap into this growth opportunity," Chandrasekaran stated. Elaborating on the passenger vehicle segment, he stated that in the next phase the business will focus on ..

M&M, Bajaj Auto: Nomura's preferred picks ahead of May sales data

May auto sales preview: Nomura analysts expect passenger vehicle (PV) wholesales to grow by 6 per cent on a year-on-year (Y-o-Y) basis to 355,000 units.

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

M&M, Tata Motors, Maruti Suzuki: What is driving the rally in these stocks?

With 3XO's launch, M&M management aims to be among the top two players in the compact SUV segment over the course of three years

High on SUVs: India records all-time high passenger vehicle sales in FY24

2023-24 also witnessed a high demand for sports utility vehicles (SUVs), which, for the first time in India, now hold a market share of 50 per cent in total PV sales

Passenger vehicles record their best February with sales of 370,000 units

Two-wheelers and three-wheelers also witnessed higher sales in February this year as compared to last year, according to data released by Siam on Tuesday

Mahindra & Mahindra wholesales increase 24% to 72,923 units in February

Mahindra & Mahindra on Friday said its total sales increased 24 per cent to 72,923 units in February. The company's total dispatches to its dealers stood at 58,801 units in February 2023. The Mumbai-based auto major's passenger vehicle sales in the domestic market rose 40 per cent to 42,401 units last month against 30,358 in February last year, the auto major said in a statement. "In our endeavour to make some of our SUVs available faster to consumers, we launched the Scorpio N Z8S variant and the Thar Earth edition this month," Mahindra & Mahindra President (Automotive Division) Veejay Nakra said. The company's total tractor sales last month stood at 21,672 units, a dip of 16 per cent as compared to 25,791 units in the same month last year.

India's PV sales to slow down in FY25, EV market to be steady: ICRA to Siam

Commercial vehicle market expected to retreat in election year

Average selling price of passenger vehicles in India up by 50% in 5 years

ASP has gone up from Rs 7.65 lakh in 2018-19 to Rs 11.5 lakh in 2023-24, according to the industry. Premiumisation, changing regulatory norms and SUV craze lead to price hikes

Tata Motors announces 0.7% price hike on passenger vehicles from Feb 1

The automotive industry has witnessed a trend, with various manufacturers resorting to similar price hikes in the early months of FY24

Tata Motors to hike passenger vehicle prices, including EVs, from Feb 1

Tata Motors on Sunday said it will increase prices of its entire passenger vehicle range, including EVs, by an average of 0.7 per cent with effect from next month. This increase will be effective February 1, 2024, and is being taken to partially offset the rise in input cost, Tata Motors said in a statement. The company sells a range of passenger vehicles including Punch, Nexon and Harrier.

Passenger vehicle wholesales rise 4% to 286,390 units in December

Domestic passenger vehicle wholesales grew by 4 per cent to 2,86,390 units last month, the Society of Indian Automobile Manufacturers said on Friday. As per the latest data issued by the Society of Indian Automobile Manufacturers (SIAM), dispatches of passenger vehicles (PVs) from manufacturers to dealers were 2,75,352 units in December 2022. Two-wheeler domestic wholesales stood at 12,11,966 units last month as against 10,45,052 units in December 2022, a growth of 16 per cent. Similarly, three-wheeler wholesales were higher at 50,537 units last month as compared to 38,693 units in December 2022.

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

Maruti Suzuki eyes higher growth, market share gains with expansion

The company is also looking at a higher share of SUV with higher average selling prices and realisations

Expect to grow at double speed of passenger vehicle industry in 2023: Kia

The South Korean carmaker on Tuesday unveiled the Seltos facelift. Seltos, an SUV, currently contributes 55 per cent to the company's overall domestic sales

Better chip supply fuels passenger vehicle production by 16%: Siam

India's two-wheeler exports down 21% in the month

Suzuki Motor sees Indian PV market at 7-8 mn by 2030, Maruti aims 50% share

Pre-Covid it had predicted that the market would reach 10 million

Passenger vehicle makers to spend Rs 65,000 cr on capacity expansion: Icra

Higher production is to cumulatively jack up overall capacity utilisation rate in PV industry to 74% by FY23-end from 59% in FY22

PV dispatches dip 4% in April as supply challenges remain, says SIAM

Total passenger vehicle domestic wholesales stood at 251,581 units last month as compared to 261,633 units in April 2021

Fresh investments in motown may cross $4 bn; auto firms in talks with govt

Some 13 auto firms have been in talks with govt for setting up business in India