Are you planning to buy a car this festive season? Over the past couple of months, car sales have been on a downward trend. But automakers are banking on some hefty discounts and enticing promotional offers tied to the festive season to finally shift those sales into high gear. The Indian automobile market, once driven … Read more
Rising inventory across sales channels and lack of competitively priced new models that can attract buyers are beginning to weigh on the wholesale volumes (dispatches to dealers) of the passenger car industry. For the first time in 30 months, the volume of the passenger car industry is expected to decline 2.5-3% on a year-on-year basis … Read more
Mumbai: Sluggish sales and high dealer inventory have not stopped carmakers from gearing up for a major product offensive in the upcoming festival season. As many as 20 new passenger vehicle models – including 12 entirely new offerings – are set to hit Indian roads by October end, with automakers pinning their hopes on the … Read more
PURI: Excitement filled the air in Puri town on Sunday as people eagerly awaited the unveiling of what’s inside the Ratna Bhandar, the sacred and spiritual treasury of Lord Jagannath, which is surrounded by many legends. The atmosphere was charged with a mix of apprehension and enthusiasm among the devotees during the opening of the … Read more
Mumbai: Passenger vehicle makers have approached auto financiers requesting them to extend the credit cycle for dealers to 90 days from 60 at present, indicating the pressure building up in the retail channels amid slowing sales, which is leading to stock piling up at car dealers. This trend was last seen in FY19, said multiple … Read more
Vehicle registrations – a proxy for retail sales – went up by a modest three percent to 2.09 million units last month with consumers delaying purchases due to election-related uncertainties and extreme heat. Passenger vehicle registrations dipped marginally during the month under review by 0.96% to 303,358 units. As per data collated by industry body … Read more
Carmakers expect to face a record stockpile of 400,000 vehicles worth ₹44,000 crore by this month-end as demand cools in India after a 3-year run of scorching sales. With car despatches to dealers outpacing demand, passenger vehicle registrations, taken as a proxy for retail sales, are also expected to fall by 5% in May from … Read more
The domestic passenger vehicle (PV) market is estimated to grow by six to nine per cent in the current financial year over the preceding fiscal, according to ratings firm ICRA. In absolute terms, the PV industry will clock a sales figure of 4.2 million units in the current fiscal. The report said that dealer inventories … Read more
