car inventory: Car dealers may end up with 400K unit inventory

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

Hyundai ties up with Laxmi Group to commence Venue production in Nepal

NEW DELHI: Hyundai Motor India on Monday said it has commenced local assembly of its compact SUV Venue in Nepal in collaboration with Laxmi Group. The plant, the first automotive assembly facility in Nepal, has an annual installed capacity of 5,000 units. “Hyundai Venue will be the first locally assembled model to roll off the … Read more

Hyundai: Expect rural sales contribution at record levels this fiscal: Hyundai

NEW DELHI: Hyundai Motor India expects sales contribution from rural areas to remain at record levels in the current fiscal as well on account of various factors including anticipation of a favourable monsoon, according to a senior company executive. The country’s second-largest automaker, which sells models like Creta and Venue, reported 11 per cent growth … Read more

Automobile exports from India dip 5.5% in FY24

Automobile exports from India declined 5.5 per cent in FY24 due to the monetary crisis in various overseas markets, according to the latest data shared by industry body SIAM. Overall exports stood at 45,00,492 units in the last fiscal compared to 47,61,299 units in FY23. Commenting on the drop in overseas shipments last fiscal, SIAM … Read more

Domestic car sales in last financial year grew by nearly 9% to a record 4.23 mn units

Car sales in the local market in the last financial year grew by nearly 9% to a record 4.23 million units amid improved supplies and sustained customer demand, cementing India’s position as the third largest market for passenger vehicles in the world. Around 370,000 cars, sedans and utility vehicles were sold last month, compared to … Read more

Hyundai sales up 7% in March; reports highest-ever sales at 7,77,876 units in FY ’24

Hyundai Motor India on Monday reported a 7 per cent year-on-year increase in total sales at 65,601 units in March. The company sold a total of 61,500 units in March 2023, Hyundai Motor India said in a statement. Domestic dispatch of vehicles to dealers saw an increase of 5 per cent to 53,001 units last … Read more

Better supply and demand drive PV sales to new monthly record

Passenger vehicle sales in India reached a new high for February last month amid better supplies and strong consumer demand, making it the fourteenth straight month of best monthly sales, data from industry body Society of Indian Automobile Manufacturers (Siam) showed. Two-wheeler sales zoomed 35% on year, but fell short of the monthly record set … Read more

Hyundai: We will continue to strengthen our presence in the Indian market, says Hyundai Motor India MD Unsoo Kim

Korean auto major Hyundai said it will continue to make strategic investments towards increasing production capacity, setting up new manufacturing units, introducing new products and technologies to strengthen its presence in the Indian market. Unsoo Kim, Managing Director, Hyundai Motor India, said, India is a “focal” market for the company. “As we look forward to … Read more

Passenger vehicle sales surge 14% to 393,074 units in January: SIAM

Passenger vehicle makers reported record-breaking sales in January, which rose 14% from a year earlier to 393,074 units as dealers restocked inventories depleted during year-end sales promotions. As per data available with industry body Society of Indian Automobile Manufacturers (SIAM), passenger vehicle sales stood at 346,080 units in January 2023 and had previously peaked at … Read more

car sales january 2024: Carmakers record best-ever monthly sales in January; Maruti, Hyundai & Tata lead from the front

India’s leading carmakers reported their best-ever monthly sales in the local market growing volumes by more than 13% to 394,571 units in January as dealers filed in inventories depleted during year-end sales.Prior to this, passenger vehicle sales had peaked at 391,811 units in October 2023. Industry volumes were buoyed by market leaders Maruti Suzuki, Hyundai … Read more