AUTOMOBILE GROWTH
Oil holds near two-month high on higher demand outlook, possible rate cut
Exciting developments in the oil market as prices hold steady near recent highs, driven by robust demand projections and the possibility of U.S. interest rate cuts. The looming threat of Hurricane Beryl and reduced crude imports into Asia, especially China, add further intrigue to the market landscape.
Earnings growth likely to be in mid-teens; overall growth trajectory remains strong: Shibani Sircar Kurian
The building materials segment, specifically tiles, has underperformed despite significant real estate growth. Typically, when real estate sales pick up, demand and volume growth in building materials follow with a lag.
Indian carmakers post SUV-led June sales growth amid heat waves
Carmakers Mahindra & Mahindra, Toyota Motor Corp's Indian unit, and Kia Motor reported increased car sales in June. This rise was driven by demand for sports utility vehicles (SUVs), despite heat waves affecting purchase decisions.
Auto sector sees resilient two-wheeler growth amidst mixed performance in PVs and CVs for June 2024
Wholesale volumes across various segments of the automobile industry in June 2024 are expected to show a subdued trend. This is primarily due to the absence of wedding dates, as stated in an Anand Rathi report. Analysts predict a mixed performance in the market. Two-wheeler (2W) volumes are anticipated to be resilient, while passenger vehicles (PVs) and commercial vehicles (CVs) are expected to see slight declines. Tractor volumes are likely to remain flat.
Rajesh Kothari on top three themes to bet on for solid returns
Next three years that gap is not going to be big. In fact, the private sector banks actually can do better than public sector banks in terms of the overall earnings growth because the bulk of that benefit of credit cost is already behind us.
Indian automobile industry grows 19 pc to Rs 10.22 lakh cr in FY24: Report
In the two-wheeler segment, India witnessed 10 per cent increase in volume and 13 per cent in value. The three-wheeler segment grew by 16 per cent in volume and 24 per cent in value and the commercial vehicle segment rose by 3 per cent in volume and 7 per cent in value.
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Hyundai flags concerns with 'changes' by Indian govt ahead of planned Rs 25,000 crore IPO
Hyundai, which plans to raise Rs 25,000 crore through the Indian stock market by selling a 17% equity stake in the local unit, flagged the importance of stable policies for confidently making technological upgrades. They also highlighted concerns about localisation norms like PLI for automotive technology, aiming to reduce import dependence and lower manufacturing costs with significant initial capital investments.
Auto industry body seeks cut in two-wheeler GST; SIAM suggests three-level slabs based on fuel types
Society of Indian Automobile Manufacturers (Siam) has requested a reduction in GST rates on two-wheelers in India. They proposed different slabs for different types of two-wheelers to lower the rates. Siam also wants the removal of the 3% cess on high cubic capacity bikes.
Domestic passenger vehicle sales up 4% in May at 3,47,492 units: SIAM
India's passenger vehicle wholesales increased by 4% YoY to 3,47,492 units in May, according to SIAM. The overall dispatches from companies to dealers reached 3,34,537 units. Two-wheeler sales rose 10% to 16,20,084 units, while three-wheeler dispatches rose 15% to 55,763 units.
China's exports grow 7.6 per cent in May, beating expectations despite trade tensions
Exports rose due to a lower base from last year, with a trade surplus widening to USD 82.62 billion in May.
India Inc exits FY24 on a strong note, clocks double-digit profit growth in Q4
Corporate India saw double-digit growth in net profit and single-digit revenue increase in the March 2024 quarter. Expectations are for healthy growth in the current fiscal year due to peaking interest rates and government policy continuity.
Auto sales enter slow lane in May, expected to bounce back in the festive season
In May, automobile sales slowed down due to heatwaves, election uncertainties, and a high base effect. Maruti Suzuki's sales grew 4.4% year-on-year, but this was lower than the 13.8% growth seen in May 2023. Hyundai Motor India and Tata Motors also saw modest growth, while Mahindra and Mahindra and Toyota India experienced significant increases in sales. Industry leaders expect a sales rebound post-election and with a good monsoon forecast. The auto sector's growth aligns with India's 8.2% GDP rise in 2023-24.
Markets optimistic but 'mistakenly euphoric', says Kotak Institutional Equities
Kotak Institutional Equities analyzes the Indian market's optimism and sector valuations, predicting market reactions to BJP and NDA outcomes with a focus on corrections in specific sectors and the stability of major indices.
Car dealers may end up with ₹44,000 crore worth of inventory as demand cools off
Carmakers in India are forecast to face a record stockpile of 400,000 vehicles worth ₹44,000 crore by the end of May, as demand cools after a three-year run of high sales. Passenger vehicle registrations are expected to fall by 5% in May from a year earlier, due to election-related uncertainties, the completion of marriage season, and heat waves in key markets, particularly Delhi NCR.
India major gainer of China+1, exports to soar to $835 billion by 2030: Nomura
India and Vietnam are emerging as key beneficiaries of the China plus one strategy, with Nomura predicting significant growth opportunities for Asian economies. According to a report by Nomura, India's exports are projected to skyrocket to $835 billion by 2030 from $431 billion in 2023, driven by its vast domestic market attracting companies seeking supply chain diversification away from China.
BYD launches new hybrid vehicle tech that promises 100 km with just 2.9 litres fuel
BYD in China launches latest plug-in hybrid technology achieving record low fuel consumption of 2.9 litres per 100 km. Unveiled by Chairman Wang Chuanfu in Xian, Shaanxi province, site of BYD's first automaking factory.
SBI Automotive Opportunities Fund: Is it time to capitalise on opportunities in the world's 3rd largest auto market?
SBI Automotive Fund, managed by Tanmaya Desai and Pradeep Kesavan, offers high exposure to automotive stocks. Experts from WealthMills Securities recommend considering the fund for high-risk appetite investors.
India leads in electric vehicle sales amid global slowdown
Global electric vehicle sales growth faces challenges like capital costs and election uncertainty. US EV sales outpaced Europe, where EV sales declined due to Easter holidays. Germany saw a 29% drop in EV sales, while India's EV market share doubled to 4% in 2023.
Tesla Europe sales lowest in 15 months
Tesla Inc had a slow start to the second quarter in Europe, with CEO Elon Musk expecting better results. The carmaker registered 13,951 vehicles in April, down 2.3% from last year, its lowest since January 2023.
A leaner M&M charting new expansion path, looks to enter new industry, list 2 businesses, step up global presence
The group also aims to ensure that Tech Mahindra and Mahindra & Mahindra Financial Services (Mahindra Finance) realise their full potential besides bolstering the logistics, holidays and real estate businesses, which have been identified as “growth gems”
A heavy monsoon season is great news for these Indian stocks
Stocks of Indian firms reliant on rural demand are rising with optimistic monsoon forecasts. Motorcycle, farm-equipment, and FMCG companies are seeing improved sales in rural areas. Nifty FMCG Index is up, Hindustan Unilever and Dabur India expect demand growth.
Strong sales growth for entry-level two-wheelers in H2 of FY24; big relief for automakers
The trend continued in April, driven by an improvement in income levels thanks to healthy economic growth, making the automobile industry bullish of a sustained recovery in the twowheeler segment and sparking green shoots of recovery in small car sales.
April car sales growth moderates on high base
A high base due to the strong growth in the last two years weighed on the year-on-year comparison, resulting in the tepid pace of growth in April. Though the growth rate moderated in April, it was the fourth consecutive month in CY24 when sales volume in the local market set a new record, as per data from Society of Indian Automobile Manufacturers (SIAM).
Auto sales growth moderates in April, sets record despite tepid demand
Automakers in India reported bumper sales for two straight years on the back of pent-up demand after the pandemic. Sales of passenger vehicle grew 8.4% to a record high of 4.22 million units in the financial year concluded March 31, 2024. Sales had grown 27% the previous financial year.
SBI, Godrej Consumer top buys post Q4 results; could give 13-17% upside in 1 year
SBI and Godrej Consumer are top buys post Q4 results, led by BFSI and Auto sectors. Nifty stocks show growth, while Tier-1 IT companies face challenges. Business and credit growth outlook positive for SBI.
Bikes will retake pre-covid peak in two years: TVS
Two-wheeler sales in India are expected to surpass pre-Covid peak this fiscal year or next, according to Sudarshan Venu, managing director at TVS Motor Company. The Indian economy is in a "good situation" with inflation under control, which will drive consumption going forward. TVS Motor is planning to launch multiple products to grow faster than the market, including a slew of electric vehicles (EVs) at varied price points to cater to diverse customers.
Vehicle retail sales soar 27% in April; two-wheeler registrations jump 33%, cars up 16%
Vehicle registrations in the country – a proxy for retail sales – went up by a robust 27% year on year to 2.2 million units in April, led by two-wheelers on the back of stable fuel prices, positive outlook for the monsoons, Navratri demand, and the ongoing marriage season
Maruti Suzuki reveals recipe for improved export plans in FY25
Indian automaker Maruti Suzuki is targeting nearly 3 lakh exports in FY25, focusing on improving its portfolio abroad. With 283,067 units exported, the company has been India's top passenger car exporter for the third consecutive year. The company has also manufactured over 3 crore automobiles in India. Supporting factors for this outlook include better products, improved portfolio in foreign nations, and talent transfer.
Say hello to a new all-consuming India
India's consumption is now a combination of a sprinting top-tier that is approaching affluent economy levels, and a mass market that, too, is cantering along. This makes India an interesting market for makers of all manner of things from European automobiles to Japanese ramen. This also widens product portfolios to use aspirational consumption to speed up the mass market. Companies that straddle both ends have an obvious advantage in India.
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