COMMERCIAL VEHICLE DISPATCHES
Tata Motors group global sales rise 2% in June quarter
Tata Motors reported a 2% increase in global sales to 3,29,847 units in the June quarter, compared to 3,22,159 in the April-June quarter of FY24. However, global wholesales of passenger vehicles were lower by 1%. Jaguar Land Rover dispatches increased by 5%.
Tata Motors domestic sales dip 8 pc in June
Tata Motors reported an 8% decline in total domestic wholesales to 74,147 units in June, with passenger vehicle sales at 43,624 units. The company anticipates a demand recovery with a strong enquiry pipeline and the upcoming festive season in August. Focus remains on the SUV portfolio, especially Punch and Nexon models, as the industry prepares for growth.
Maruti Suzuki sales rise 12 pc to 1,79,228 units in June
Maruti Suzuki India reported a 12% increase in total wholesales for June, reaching 1,79,228 units compared to 1,59,418 units last year. Domestic passenger vehicle sales rose by 3% to 1,37,160 units. Export sales surged to 31,033 units from 19,770 units, while mini-segment car sales declined.
Paytm Bank slows down in Fastag lane; q-comm in soup over food safety
Happy Friday! Banks are gaining ground in the toll payments space as Paytm Payments Bank’s market share continues to plummet. This and more in today’s Morning Dispatch.
PV sales up in low-digits as growth pace moderated in May: SIAM
Passenger vehicle dispatches increased by 3.9% in May, setting a new record. Three-wheeler sales surged by 14.7%. Two-wheelers grew by 10.1%. The industry is optimistic about steady growth in 2024-25 due to expected good monsoon and economic development.
Maruti Suzuki sales drop 2 pc to 1.75 lakh units in May
Maruti Suzuki India reported a 2% year-on-year decline in total wholesales to 1,74,551 units in May 2024, down from 1,78,083 units last year. Domestic passenger vehicle sales rose slightly to 1,44,002 units. Sales of mini and compact cars decreased, while utility vehicle sales increased. Exports fell to 17,367 units from 26,477 units.
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
Indian auto market sees 2% rise in vehicle sales; SUVs continue to dominate
Last month, sales of cars, sedans, and utility vehicles in the local market increased by approximately 2%, reaching around 338,341 vehicles, compared to 332,468 units sold in April 2023. This marks the 16th consecutive month of best-ever monthly sales for automakers in the region. Despite a moderation in growth rate, the absolute volume remained robust. Maruti Suzuki, Hyundai, and Tata Motors reported marginal increases in sales, while SUV sales surged by about 15%, constituting 53.6% of total car sales.
Tata Motors sales rise 11.5% to 77,521 units in April
In April, Tata Motors reported an 11.5% year-on-year increase in total wholesales to 77,521 units. Domestic dispatches surged 12% to 76,399 units. Passenger vehicle sales rose by 2% to 47,983 units, while commercial vehicle sales spiked by 31% to 29,538 units compared to April 2023.
Passenger vehicle wholesales surge; up by 8.4% in FY24, SIAM data shows
India's passenger vehicle wholesales reached a new high of 42,18,746 units in the 2023-24 financial year, an 8.4% increase from the previous year. The growth was attributed to strong demand for utility vehicles, with two-wheeler sales seeing a 13.3% growth. Vehicle sales across all categories also rose by 12.5%. Exports experienced a 5.5% decline. The Indian automobile industry's growth was attributed to India's 7.6% economic growth and favorable government policies.
Domestic car sales in last financial year grew by nearly 9% to a record 4.23 mn units
Car sales in India soared by 9% to 4.23 million units last fiscal, driven by SUV demand. Maruti Suzuki, Hyundai Motor India, Tata Motors, Mahindra & Mahindra, Toyota Kirloskar Motor, and MG Motor India all reported significant sales growth across various segments. Around 370,000 cars, sedans and utility vehicles were sold last month, compared to 336,000 units in the year-ago period, making it the 15th consecutive month that PV sales have breached previous monthly records.
Tata Motors total domestic sales rise to 90,822 units in March
Tata Motors reported a 2% increase in total domestic wholesales in March, reaching 90,822 units. Passenger vehicle sales surged by 14%, with commercial vehicle dispatches declining by 10%. For the fiscal year ending March 31, 2024, total domestic wholesales rose by 2%, marking the third consecutive year of record sales.
Better supply and demand drive PV sales to new monthly record
Passenger vehicle sales in India reached a new high for February last month, according to data from Siam. Two-wheeler sales fell short of the pre-Covid February 2020 record. The industry expects the growth momentum to continue.
Domestic passenger vehicle sales rise 11 pc in February: SIAM
In February, passenger vehicle wholesales in India increased by 11% year-on-year, with total dispatches reaching 3,70,786 units. Sports utility vehicles continued to drive demand, contributing to the highest-ever February sales for passenger vehicles. Two-wheeler sales rose 35% to 15,20,761 units, while three-wheeler dispatches increased to 54,584 units.
Sales of cars, sedans, utility vehicles see their best-ever February
As per industry estimates this is an increase of 11.3% over 335,324 units sold in the same period last fiscal. February 2024 was the third best month for passenger vehicle sales recorded in the domestic market ever. The highest-ever wholesale in a month was in January 2024 at 3,94,500 units, followed by October 2023 at 3,91,811 units.
Auto dispatches scale new peak as dealers stock up post year-end sales
Sales of two-wheelers rose 26% from a year earlier to 1,495,183 units last month. Three-wheeler dispatches went up by 9.5% to 53,537 units. "Passenger vehicles sales have remained resilient led by positive consumer sentiments, while the two-wheeler segment witnessed good growth in January as well, as the rural market continues to recover," SIAM president Vinod Aggarwal said.
Festive demand drives passenger vehicle dispatches to record high in October
Sales of cars, sedans, and utility vehicles in the domestic soared to record levels in October, as automakers increased deliveries to meet strong customer demand during the festive season. Industry estimates indicate that 391,472 passenger vehicles were dispatched to dealers, a 16.3% rise from the previous financial year's 336,679 units. This marks the tenth consecutive month of record-breaking sales, primarily driven by SUV demand, which constituted half of all passenger vehicle sales in October.
Powered by utility vehicles, PV dispatches to dealers increase 9 pc in August: SIAM
Passenger vehicle wholesales in India increased by 9% in August compared to the same period last year, driven by strong demand for utility models, according to industry body SIAM. Utility vehicle sales rose by 34% to 181,825 units, while passenger car dispatches declined by 10% to 120,031 units, data showed.
Maruti records highest ever monthly sales volume in August at 1.89 lk units
Maruti Suzuki India Limited on Friday announced that it recorded its highest ever monthly sales in August. The auto major’s total sales grew by 14 per cent in August 2023 and stood at 1,89,082 units as compared to 1,65,173 units in August 2022.
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