TATA MOTORS SALES GROWTH
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.
Tata Motors' passenger EV sales dropped 34 pc in June
Tata Motors experiences sales decline in passenger vehicles, including EVs, in June. Despite challenges, the company foresees a recovery in demand, especially with the upcoming festive season. Tata Motors stands ready to capitalize on growth opportunities, driven by a strong SUV portfolio and expanding presence in the international market.
VCs chase auto parts makers to hitch a ride on EV journey
Smaller component makers for electric vehicles (EVs), many of which started with other businesses before pivoting to their current business mainstays, are increasingly attracting interest from venture capital firms amid a boom in EV sales. The boom in EV sales, as demonstrated in the sales of passenger EVs jumping 91% and of commercial EVs tripling year-on-year (YoY) in FY24, has meant that the demand for parts has also soared.
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.
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.
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Spoilt for choice: How changing consumer preferences & tech advancements driving upgrades in electronics and car
Hyundai Motor India introduced the third upgrade to its flagship SUV, Creta, in January, followed by the performance-focused Creta N Line variant in March. Samsung launched the Galaxy S24 Ultra smartphone in yellow color. Kia India's senior VP highlighted the reduced product life cycles in the automotive industry.
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.
Discount deals: Tata cars drop prices by up to Rs 60,000; Tiago, Altroz, Nexon, and more on sale now
As the sun shines brighter and temperatures soar, Tata Motors is ushering in the summer season with irresistible discount deals on some of its most sought-after car models. For those contemplating a Tata vehicle purchase this month, the timing couldn't be more perfect – substantial savings await on popular models including the Tiago, Altroz, Nexon, Harrier, and Safari.
Tata Motors Finance to be merged with Tata Capital
Tata Motors announced a merger of Tata Motor Finance with Tata Capital, approved by their respective boards. This aligns with Tata Motors' strategy to focus on core businesses and emerging technologies. Tata Capital will issue its equity shares to Tata Motor Finance shareholders, giving Tata Motors a 4.7% stake in the merged entity. Tata Capital, a major NBFC in India, will expand its presence in CV/PV financing, aiming to offer innovative products and digital services. The merger is subject to regulatory approvals and is expected to take 9-12 months to complete, with no adverse impact on customers or creditors.
Demerger of biz to help commercial vehicle business capitalise on opportunities globally: Tata Motors
Tata Motors is planning to demerge its commercial vehicle (CV) and passenger vehicle (PV) segments into two separate listed entities to better capitalize on global growth opportunities. The CV business and related investments will be housed in one entity, while the PV business, including electric vehicles (EVs), Jaguar Land Rover (JLR) and its related investments, will come under a separate listed entity.
Beyond elections, track these 6 factors also to understand Nifty movement this week
Investors would react to not just the exit poll predictions but also India's Q4 GDP numbers which, at 7.8%, was much higher than the Street estimates. Global markets will likely react to the outcome of the PCE data in the US, the Fed's preferred gauge of inflation.
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.
Passenger vehicle wholesales in slow lane in May due to high base effect, elections
Passenger vehicle wholesales in India grew marginally in May due to the high base effect and muted demand during the general elections. Maruti Suzuki, Hyundai, Tata Motors, Mahindra & Mahindra, Toyota Kirloskar Motor, Kia India, and MG Motor India all reported varying levels of growth.
Tata Motors sales up 2 pc at 76,766 units in May
Tata Motors reported a 2% increase in total wholesales for May, with 76,766 units compared to 74,973 units last year. Domestic sales also grew by 2%, reaching 75,173 units. Passenger vehicle sales, including electric vehicles, rose to 47,075 units from 45,984 units, while commercial vehicle sales increased to 29,691 units from 28,989 units.
Tata Motors embracing structural shifts from a position of strength and confidence: N Chandrasekaran
With the turnaround the company is embracing the structural shifts which includes an irreversible move to green mobility, rebalancing of supply chains to achieve resiliency digital acceleration with Artificial Intelligence and Machine Learning becoming mainstream, from a position of strength and confidence.
Mahindra to focus more on driving range, tech over price in future electric cars
Speaking to ET, R. Velusamy, president, automotive technology and product development at M&M said while TCO (total cost of ownership) approach to EV development or how much one saves after switching from petrol or diesel cars to EVs may work in the short term for “early adopters”, in the long term, it’s the range, technology and overall experience that will help in creating new market segments and to grow sales.
Hybrids catching up fast with EVs; Maruti, Toyota driving growth
Sales of hybrid transmission cars and SUVs are rapidly increasing, challenging electric vehicles in market share. Maruti Suzuki and Toyota offer popular models in this segment, with hybrid vehicles capturing 2.48% of the passenger vehicle market in Q1 2024.
JLR plans to start making flagship Range Rover model in India
The local assembly will translate into a 18-22% price reduction, Amba said. The Range Rover will drop to Rs 2.6 crore from Rs 3.3 crore while the Range Rover Sport will fall to Rs 1.4 crore from Rs 1.8 crore. India levies a duty of 15% on completely knocked down kits and more than 100% on imported models.
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.
Starbucks’ FY24 losses widen to Rs 81.84 crore for India operations
Of its total loss, Tata Consumer bore Rs 40.91 crore. This is a significant increase compared to the previous year, when Starbucks reported a loss of Rs 24.97 crore on sales of Rs 1086.89 crore.
FY24 milestone year for Tata Consumer Products: N Chandrasekaran
Tata Consumer Products, led by N. Chandrasekaran, highlights a milestone year in its 2023-24 annual report. Completing the amalgamation of Tata Coffee, integrating brands like Tata Soulfull and NourishCo, and acquisitions like Capital Foods and Organic India, signal a transformative phase. Revenue growth, expanded distribution, and increased market capitalization underscored its success.
These 5 Tata group companies see highest PAT growth in Q4. Do you own any?
Nearly 18 Tata group companies have reported their March quarter earnings so far. Of these, ETMarkets.com analysed stocks that have done the best in terms of profit growth on a year-on-year (YoY) basis. Take a look! (Data Source: ACE Equity | Ritesh Presswala)
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.
Tata Motors likely to lose some zip on D-St after a roaring FY24
FY24 was a remarkable year for the company with record revenue, profits and dividend helped by superior performance in domestic and overseas businesses. The stock nearly doubled during the year, a reflection of investors’ recognition of its upbeat show. However, the growth is likely to moderate in the near term.
How Tata Motors is planning to up its EV game
Tata Motors announces Q4 results with increased EV sales, plans new models like Curvv EV, focuses on market development, collaborates for charging infrastructure, integrates solar power, and aims to exceed sales targets.
Tata Motors shines in Q4, anticipates debt-free status; JLR posts record profit
Tata Motors Surpasses Expectations with Tripled Profit in Q4, Eyes Debt-Free Status. India's largest automaker reported a net profit of Rs 17,528 crore in Q4, thrice the previous year, aided by a deferred tax credit. The company's revenue for the period climbed 13% YoY to Rs 1.19 lakh crore. For the full FY24, Tata Motors delivered record profit and revenue, with JLR generating a net profit of £2.5 billion. The company continued deleveraging efforts, aiming for net automotive debt-free status in FY25. JLR expects consistent demand, though some stress is noted in the UK market.
Q4 results today: Tata Motors, Cipla among 87 companies to announce earnings
Q4 results today: Several other companies scheduled to release their financial results include Cholamandalam Finance, Eicher Motors, Finolex Industries, Jupiter LifeLine Hospitals, Kalyan Jewellers, Piramal Pharma, Punjab and Sind Bank, Spencers Retail, TCI Express, Thermax, and more.
Tata Motors Q4 Results Preview: PAT likely to jump 33% YoY to Rs 7,640 crore on higher volume
Tata Motors Q4 Results Preview: The projected profit after tax (PAT) falls within the bracket of Rs 7,438 crore to Rs 8,350 crore, while the anticipated revenue is forecasted to range from Rs 1,05,932.40 crore to Rs 1,21,606.80 crore, as indicated by the estimates.
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