Pune: Tyre makers are headed for a rough patch as the price of natural rubber has increased more than 33% on-year in just the first five months of this fiscal year amid strong demand and crunched supply, which could strain their profitability, Crisil Market Intelligence and Analytics (MI&A) said. Domestic prices of natural rubber closed … Read more
Passenger vehicle sales in July stood at 3,41,510 units, according to data released by the Society of Indian Automobile Manufacturers (SIAM) on Wednesday. Three-wheeler sales in the same month were 59,073 units, while two-wheeler sales totalled 14,41,694 units, the data showed. In June, total passenger vehicle sales were recorded at 3,37,757 units, compared to 3,27,788 … 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
Mumbai: Auto industry body, Society of Indian Automobile Manufacturers (Siam) has written to the government requesting for a reduction in the GST on two-wheelers. It has suggested that the government adopts three range slabs of reducing the rate-from the current 28% to 18% for internal combustion engine powered two wheelers, to 5% from the current … Read more
New Delhi: Vehicle registrations in the country – a proxy for retail sales – went up by a robust 27% year on year to 2.2 million units in April, led by two-wheelers on the back of stable fuel prices, positive outlook for the monsoons, Navratri demand, and the ongoing marriage season. Retail sales of passenger … Read more
After a fruitful FY24, Indian automaker Maruti Suzuki is eyeing nearly 3 lakh exports in FY25 with focus on bettering its portfolio abroad, the company’s Executive Director of Corporate Affairs said on Wednesday. With 283,067 units exported, the company has continued to be India’s top exporter of passenger cars for the third year in a … Read more
India’s rapidly growing auto market is poised to hit a milestone, with projections indicating it will reach USD 300 billion by 2026. This growth is fueled by various factors, including rising income levels, urbanization, and a burgeoning middle class with increasing purchasing power.In March 2024, the Indian auto industry produced a total of 2,325,959 units, … Read more
Shashank Srivastava, Executive Director, Maruti Suzuki India Ltd, says “the transformation of Maruti Suzuki is one of the biggest achievements of the company. Of course, we have contributed hugely to the Indian manufacturing sector. We are the leaders in the automobile for the last 40 years of its existence. But it goes beyond that and … Read more
India’s first automobile in-plant railway siding project (of Maruti Suzuki) was inaugurated by PM Modi in Gujarat on March 12. The project is at Hansalpur in Gujarat’s Mehsana district. Under the project, Maruti will increase the use of railways for dispatching finished cars from 26% to 40% annually, saving 50,000 truck trips, 35 million litres … Read more
Sales of cars, sedans and utility vehicles in the local market increased in healthy double-digits to their best-ever level for the month of February at 373,177 units on back of better supplies and sustained consumer demand. As per industry estimates this is an increase of 11.3% over 335,324 units sold in the same period last … Read more
