Tata Motors on Thursday issued a clarification on an ET report that said Tata Sons is understood to be creating a holding company for Tata Motors to house its passenger car and commercial vehicle businesses that are being demerged and registered as two separate entities. The auto major said, the demerger is being done through … Read more
Auto majors Maruti Suzuki India and Hyundai reported muted sales performance in October as the companies curtailed dispatches to dealers in order to cut inventory build up. The country’s largest carmaker Maruti Suzuki India (MSI) said its total domestic passenger vehicle wholesales were at 1,59,591 units last month compared with 1,68,047 units in the year-ago … Read more
Weak consumer sentiments and above-normal rainfall dampened retail sales of passenger vehicles, two-wheelers and commercial vehicles in September, pulling the overall sales to customers down 9.26% year on year to 1,723,330 units, Federation of Automobile Dealership Associations (Fada) said on Monday. While the passenger vehicle retails have been on a decline for some months now, … Read more
Tata Motors is set to advance the annual maintenance shutdown of its passenger vehicle plants due to mounting stockpiles-equivalent to up to two months of sales-amid slowing sales across its petrol, CNG and electric cars, multiple people aware of the company’s plans said. This is to align production with demand and correct the stock before … Read more
Federation of Automobile Dealers Association on Thursday released the retail details for the month of August. The total growth of the industry was just 2.88 per cent YoY, with varying performance across segments. The total number of automobile sales in the country for the month of August was 18,91,499, a down from 20,34,116 in July. … Read more
Sales of passenger vehicles in the local market declined for the second straight month in August, on a high base, and with carmakers reducing dispatches to rationalise stocks at dealerships. According to industry estimates around 350,000-355,000 cars, sedans and utility vehicles were dispatched from factories to dealerships last month, which is a decline of 1.7-3% … Read more
India’s automobile retails grew 13.8 per cent on an annual basis in July, data from auto body FADA showed on Monday. Almost all segments except tractors exhibited a double-digit growth even as passenger vehicles’ inventory levels rose to a historic high of 67-72 days. The lobby body noted that consumer sentiment remained low in some … Read more
New Delhi: The current GST rate structure of passenger vehicles in India is outdated and needs to be aligned with the new developments in the auto industry, according to JSW MG Motor India CEO Emeritus Rajeev Chaba. The government should consider the overall perspective of vehicular emissions, reduction of import bill, sustainable local supply chain … Read more
Passenger vehicle sales in the local market rose in modest single-digit in June mainly due to a high base and easing of post-pandemic pent-up demand. As per data available with industry body Society of Indian Automobile Manufacturers (SIAM), passenger vehicle sales increased by 3% to 337,757 units last month, compared to 327,788 units sold in … Read more
Mumbai: Wholesale volumes across various segments of the automobile industry in June 2024 are anticipated to reflect a subdued trend, primarily attributed to the absence of wedding dates, according to Anand Rathi report. Analysts project a mixed performance with two-wheeler (2W) volumes showing resilience, while passenger vehicles (PVs) and commercial vehicles (CVs) are expected to … Read more
