UNITS
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 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.
Kia India sales surge 10 pc to 21,300 units in June
Kia India reported a 10% year-on-year increase in June wholesales, reaching 21,300 units. For the first half of 2024, sales grew by 6% to 126,137 units. Senior VP Hardeep Singh Brar credited strong product offerings and noted plans to maintain this growth through further network expansion.
Audi India sales dip 6 pc in June quarter
Audi India on Monday reported a 6 per cent dip in retail sales at 1,431 units during the April-June quarter this year. The German luxury carmaker had sold 1,524 units in the year-ago period. "While the supply situation in Q2 2024 has improved compared to Q1 2024; it still played a limiting factor on our sales performance," Audi India Head Balbir Singh Dhillon said in a statement.
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.
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.
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Mahindra sales rise 11 pc to 69,397 units in June
Mahindra & Mahindra reported an 11 percent increase in wholesales year on year for June, totaling 69,397 units. The company's total dispatches to dealers reached 62,429 units in June 2023.
JSW MG Motor India retail sales dip 9 pc in June to 4,644 units
JSW MG Motor India reported a 9% year-on-year decline in retail sales for June, with 4,644 units sold compared to 5,125 units in June 2023. Despite this, the company's flagship SUV, the ZS EV, achieved its highest-ever monthly sales in June 2024.
Toyota records highest-ever monthly sales in June at 27,474 units
Toyota Kirloskar Motor achieved its best-ever monthly sales in June 2024, with 27,474 units, marking a 40% increase from June 2023. Domestic sales were 25,752 units, while exports reached 1,722 units. The sales surge was driven by strong demand for SUVs and MPVs and strategic expansion into rural markets.
Bajaj Auto sales rise 5 pc to 3.58 lakh units in June
Bajaj Auto reported a 5% year-on-year growth in total vehicle wholesales, including exports, with 3,58,477 units sold in June. The company had sold 3,40,981 two-wheelers and commercial vehicles in June 2023, according to a statement. Domestic sales, including commercial vehicles, saw an 8% increase to 2,16,451 units last month, compared to 1,99,983 units in the same month last year.
Expect Indian PV market to touch 60 lakh units by 2030, targeting 18-20 pc share: Tata Motors
Tata Motors targets significant market share growth by FY30, focusing on EVs, CNG vehicles, and new product offerings. The company strategically prepares for upcoming CAFE III norms and aims to capitalize on industry transitions for sustainable growth.
Hyundai IPO: A chaebol looks at India to break out of a Korean trap
Just as Indian stock markets are trading near record highs, Hyundai expects the listing of the equity shares in India "will enhance our visibility and brand image", and "provide liquidity and a public market" for the shares.
Passenger vehicle sales to see 3-5 pc growth this fiscal: Report
Passenger vehicle sales are expected to grow moderately at 3-5% in the current financial year due to a high-base effect of FY24, shrinking order book, and subdued demand for entry-level variants. Electric car sales in the PV segment may reach 1.30-1.50 lakh units in FY25, driven by improving penetration rates. Utility vehicles have seen significant growth, benefiting from lower interest rates and increased demand for personal mobility post-pandemic.
Carmakers take the multiple powertrain ride
Carmakers from industry leader Maruti Suzuki to Tata Motors, Toyota Motor, Honda and Citroen, a relatively newcomer in the Indian market, offer diverse options in powertrains, from petrol, diesel and CNG to flexible fuel, electric and hybrid.
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.
PV exports rise by 2.68 lakh units in last 4 years; Maruti accounts for 70 pc of incremental shipments
Passenger vehicle exports from India increased by 2.68 lakh units in the last four fiscal years, with Maruti Suzuki India contributing to nearly 70% of the growth.
Tata Motors board okays to incorporate new wholly-owned unit
Tata Motors board approves setting up wholly-owned subsidiary TML Commercial Vehicles Ltd for commercial vehicles business.
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.
Hyundai sales up 7 pc at 63,551 units in May
Hyundai Motor India Ltd (HMIL) saw a 7% year-on-year rise in total sales, reaching 63,551 units in May. Domestic vehicle dispatches increased by 1% to 49,151 units, while exports surged by 31% to 14,400 units. Despite a maintenance shutdown, HMIL maintained healthy sales, with SUVs driving growth. Rural penetration stood at 20.1%.
Mahindra sales rise 17 pc in May at 71,682 units
Mahindra & Mahindra witnessed a 17% year-on-year increase in total wholesales, reaching 71,682 units in May. Domestic passenger vehicle sales surged 31% to 43,218 units, while exports rose 2% to 2,671 units. The Farm Equipment Sector reported a 9% rise in total tractor sales, attributing the growth to timely monsoons and favorable agricultural sentiments.
Mercedes Benz eyes reduced trade barriers from new India government
Mercedes-Benz is urging the next government to prioritise the forging of more free trade agreements and reducing trade barriers to boost sales in the country's growing luxury car market. The company's India head emphasized the importance of FTAs for economic growth and expressed optimism for the future of the luxury car segment in India, where sales have been on the rise.
Pre-owned car market expected to touch 1.09 cr units by FY28: Report
India's pre-owned car market, as per the Indian Blue Book report, is expected to expand to 1.09 crore units valued at USD 73 billion by FY28, with budget buyers predominantly seeking quality cars for upgrading to a new pre-owned vehicle.
Mahindra sales up 13% in April at 70,471 units
Mahindra & Mahindra reported a 13% increase in total wholesales to 70,471 units in April 2023, with total dispatches to dealers at 62,294 units. Domestic passenger vehicle sales rose 18% to 41,008 units, while exports increased by 2% to 1,857 units. Tractor sales also rose by 2% to 37,039 units. The company's President, Farm Equipment Sector, attributed the growth to government wheat procurement and above-normal monsoon rains.
Maruti Suzuki's total sales increase 5% to 1,68,089 units in April
Maruti Suzuki India's April sales rose by 4.7% to 1,68,089 units. Domestic sales of various vehicle segments fluctuated compared to last year, while exports increased to 22,160 units.
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.
Hyundai sales rise 9.5 pc to 63,701 units in April
Hyundai Motor India's April wholesales grew by 9.5% to 63,701 units, with domestic sales up 1% to 50,201 units. Exports increased by 59% to 13,500 units. SUVs like Creta and Venue were key sales drivers.
Toyota sales grow 32% to 20,494 units in April
Toyota Kirloskar Motor reported a 32% YoY increase in wholesales to 20,494 units in April, despite a week-long maintenance shutdown. The company's domestic sales reached 18,700 units, while exports reached 1,794 units. The company's diversified portfolio reflects its strong market connection.
MG Motor India reports 1.45 pc dip in retail sales at 4,485 units in April
MG Motors India on Wednesday said its retail sales declined 1.45 per cent year on year to 4,485 units in April. The company had reported sales of 4,551 units in April 2023.
Maruti Suzuki's annual sales volume crosses 2 million units
Maruti Suzuki India's Q4 net profit rose by 47.8% to Rs 3,877.8 crore. Annual sales exceeded 2 million units, with a record dividend proposal of Rs 125 per share. The company remains the top passenger vehicle exporter in India.
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