SEDAN CAR MARKET
Volkswagen launches first certified pre-owned store in Coimbatore
Volkswagen launched its first brand store in Tamil Nadu, rebranding its used car business to 'Volkswagen Certified Pre-Owned' cars, aiming to offer customers high-quality, reliable vehicles with comprehensive inspection processes and warranty coverage. With 139 touchpoints nationwide, including 36 exclusive outlets, Volkswagen plans to expand by March 2025. The strategic rebranding leverages the brand's strength and trust, with the popular sedan 'Virtus' driving sales in Tamil Nadu.
Car sales lose pace in June, SUVs stay in front
Passenger vehicle sales in India remained sluggish for the third consecutive month in June due to a high base and reduced post-pandemic pent-up demand. Sales rose 3.7% from a year earlier but slightly declined from May, with 340,784 units sold compared to 328,710 last year. SUVs comprised 53% of sales.
Economy on strong wicket after fiscal first quarter
India's economy showed strong first-quarter performance with surging manufacturing activity, robust GST collections, and record-high Sensex, alongside a rise in passenger car sales and new export orders from overseas markets, as highlighted by industry experts and economic indicators.
Car discounts make comeback after four long years of waiting in the auto industry
Car discounts have returned after four years of long waitlists, driven by changes in the automotive industry's pricing strategies. Dealers are ramping up production to meet high demand, especially for SUVs, and are offering substantial discounts across various models. Some discounts reach as high as Rs 1.5 lakh on specific models, including hatchbacks, sedans, and electric vehicles (EVs).
Indian streets gear up for electrifying SUV launches from Tata, Hyundai, Maruti & more
India gears up for a wave of SUV launches, including Tata Motors, Hyundai, Kia, and more, showcasing the industry's move towards sustainable transportation. Maruti Suzuki to unveil its first EV at Auto Expo 2025, and Mercedes-Benz targets a quarter of sales from EVs by 2026.
As buyers diss cars, auto companies count on offers
Passenger car sales surged 8% to a record 4.22 mn units in FY24 but have moderated since amid the heat wave, a long election season and a high base. Going by current vehicle registration trends on the government's Vahan portal, June growth is expected to be either flat or negative. ET reported June 17 that inventory levels at dealerships across the country were at 55-60 days against the norm of 30 days seen at this time of the year.
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Iconic British car brand Jaguar Land Rover plans to ride India's luxury boom
The luxury carmaker plans to launch at least half a dozen new models from the JLR stables, both ICE and EV (internal combustion engines and electric vehicles), as it seeks to capitalise on the growing number of high-net-worth individuals in the country. This is the most aggressive push by JLR since it entered the Indian market in 2009.
Indian consumer market sees significant drop in average buyer age across cars, smartphones, and TVs
Over the past 5-6 years, the average age of Indian consumers purchasing cars, premium smartphones, and large televisions has decreased significantly, indicating a shift towards younger demographics. Major car manufacturers like Maruti Suzuki, Hyundai Motor, and Mercedes-Benz note a decline in the average buying age from the 40s to the mid-30s, with over 70% of electric car buyers being in their 20s and 30s. Similarly, the average age for purchasing Apple iPhones and large-screen televisions has dropped from the 30s to the late 20s to early 30s.
Few Chinese electric cars are sold in U.S., but industry fears a flood
American automakers expressed their approval of the Biden administration's decision on Tuesday to levy a 100% tariff on electric vehicles imported from China. They stated that these vehicles could undercut billions of dollars of investments made in electric vehicle and battery manufacturing facilities in the United States.
Ignored by desis, small cars are driving Made in India ambitions elsewhere
India's car market shift towards SUVs impacts small car and sedan sales, despite being crucial for exports. Maruti Suzuki leads in exports, shipping to diverse destinations. Hyundai's exports include Verna, Aura, and Grand i10Nios. Price hikes and SUV preference lessen small car demand, but industry anticipates a revival by 2026-2027.
Xiaomi moves ahead with Tesla-like SUV as first EV hits goals
Xiaomi plans to enter the EV market with SUVs by 2025, starting with the SU7 model. The company aims to reduce reliance on smartphones, taking on competitors like Tesla and BYD, with positive market reception and potential break-even in 2026.
Maruti Suzuki Swift 2024 Launch: Expected Price, features, mileage, design and other details in EPIC new Swift
Maruti Suzuki Swift Launch: Maruti Suzuki India is gearing up to launch the highly anticipated next-generation Swift, featuring a revamped design, new engine, and updated interior. Pre-bookings have begun at an initial payment of ₹11,000, with deliveries expected to commence in June 2024. The hatchback will hit the Indian market today, May 9, 2024, and the epic new swift promises to be a blend of sporty design and enhanced driving experience.
Tesla pullback puts onus on others to build electric vehicle chargers
Musk's decision to lay off the 500-member team responsible for installing charging stations, and to sharply slow investment in new stations, baffled the industry and raised doubts about whether the number of public chargers would grow fast enough to keep pace with sales of battery-powered cars.
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.
China's electric cars keep improving, a worry for rivals elsewhere
Chinese automakers are leading in electric car innovation, introducing larger, technologically advanced models. With plans to launch 71 new battery electric models, features include taller hoods, bigger tires, and spacious interiors. China's advancements in self-driving technology and battery efficiency are reshaping the global automotive landscape, challenging traditional manufacturers.
Xiaomi locks in over 75,000 orders for SU7 car, targets over 10,000 deliveries in June
Xiaomi's SU7 electric sedan secured 75,723 orders by April 24, with a delivery target of over 10,000 units in June. Founder Lei Jun aims to focus on the Chinese market while competing in the EV price war.
EVs a luxury the Indian rich can’t get enough of
Luxury electric car sales are surging in India, driven by young buyers. Uncertainties loom over market impact of new policies and Tesla's entry. Car manufacturers plan expansions to cater to evolving consumer demands and preferences.
Not all big cars are created equal: Half of cars sold in India really not SUVs
Going strictly by the GST Council's definition, SUV sales were 445,556 against the 2.13 million attributed to the segment by carmakers. To be sure, that doesn't take away from the shift in customer preference toward the SUV silhouette.
Tesla's Sales Drop: A sign that its grip on the EV market is slipping
Tesla faced a sharp decline in quarterly sales, sparking concerns about Elon Musk's leadership as competitors like BYD, Kia, and Hyundai saw increases in electric vehicle sales. The market is shifting, with mainstream buyers possibly put off by Tesla's unconventional design and service issues. The company must address challenges to regain momentum.
Xiaomi's EV buyers face up to seven-month wait
The SU7, whose design has drawn comparisons with Porsche's Taycan and Panamera sports car models, has been launched amid a cut-throat price war in the world's largest auto market where more than 40 brands vie for consumer attention.
4.2 million car sales may blast their way to record
Around 375,000-380,000 cars, sedans and utility vehicles are expected to be sold in India in March, up from 336,000 units a year earlier, making it the 15th consecutive month that PV sales have breached previous monthly records. For the first time, sport-utility vehicles are set to capture more than half of the passenger vehicle market in a year underscoring their growing popularity.
China is charging ahead with EVs. Why is the world worried?
Concerns over China's EV dominance in Western markets are rising, with Chinese automakers like BYD offering cheap electric vehicles that undercut Western prices, leading to fears of a future market takeover. The threat of Chinese EVs has prompted global automakers to join forces and consider manufacturing partnerships to stay competitive.
Car models crowd in as EVs spark in India
India's electric vehicle market is expanding rapidly with government support and increasing consumer awareness. Tata Motors leads the market with a range of popular models, while MG Motor India, Mahindra & Mahindra, and BYD are also prominent players.
Economic growth to help Maruti grow small car segment; aims to capture 50% SUV market share: Shashank Srivastava
Shashank Srivastava predicts a growth of 8.2% in the Indian auto market this year. Maruti Suzuki aims to improve its market share in the SUV segment to reach 50%. Discount levels have decreased, and the future growth of the auto company depends on retail movement due to high inventory levels.
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.
The year of the SUV: When Indian automakers started riding higher
SUVs have seen a four-fold increase in their share among first-time buyers in the country over the past decade. About a third of first-time car buyers in the Indian market now drive home an SUV compared to less than a tenth a decade ago, when hatchbacks ruled the country's roads, according to industry data. The share of additional and replacement buying in the category during this period has fallen to 69% from a whopping 92% in 2014.
SUV launches jam sales highway as sedans and hatchbacks take a backseat
The number of SUV launches hit a new high this calendar year at 108, reaching the three-figure mark for the first time. In the overall passenger vehicle segment, though, there have been fewer launches in 2023 than in the pre-pandemic 2019 with hatchbacks and sedans taking a hit, data collated by automotive market research firm Jato Dynamics shows.
Motown spreads Christmas cheer with best deals in 5 years
Several dealers and industry executives ET spoke to said discounts on vehicles have increased by 25-50% over the same period last year, with stocks in the channel burgeoning to 700,000 units after Diwali. Carmakers have not yet planned any production cut to balance inventory but annual maintenance shutdowns at companies like Maruti Suzuki later this month are expected to help pare dealer stocks, industry watchers said.
India's craze for SUVs: There's more to it than meets the eye
The fall in sales of small cars and the rise in SUV sales may not be only due to Indians now ditching small cars and preferring to buy SUVs. Due to several factors, carmakers are focusing more on SUVs, making them affordable even if they have to downsize them in different respects, just as small-car segment crumbles under stress.
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