Passenger vehicle sales in India fall for second straight month in August

Passenger vehicle sales in India fall for second straight month in August

Sales of passenger vehicles in the local market fell for the second straight month in August, on a high base, and with carmakers curtailing dealer dispatches to rationalise record-high inventory levels. According to data available work industry body Society of Indian Automobile Manufacturers (SIAM), 352,921 cars, sedans and utility vehicles were dispatched from factories to … Read more

Passenger vehicle sales fall for first time in over two years in July

Passenger vehicle sales fall for first time in over two years in July

Sales of passenger vehicles fell for the first time in more than two years in July on a high base worsened by sluggish demand and inventory glut at dealerships. Two-wheelers however grew in double digits, and three wheelers in low single digits, helped by steady recovery in rural demand, on a low base. Passenger vehicles … Read more

German auto component supplier ZF Group sells 7.5% stake in its Indian subsidiary

German auto component supplier ZF Group sells 7.5% stake in its Indian subsidiary

Mumbai: German auto component supplier ZF Group on Wednesday said it has sold a 7.5 per cent stake in its Indian subsidiary ZF Commercial Vehicles Control System (CVCS) India to increase liquidity and financial flexibility for growth. The sale of shares has no effect on ZF’s control over ZF CVCS India, the company said in … Read more

Strong sales growth for entry-level two-wheelers in H2 of FY24; big relief for automakers

Strong sales growth for entry-level two-wheelers in H2 of FY24; big relief for automakers

New Delhi: In a relief to automakers, sales of entry-level twowheelers — mostly bought by rural consumers — rose in strong double digits in the second half of FY24, underscoring a recovery in demand in this key consumer segment for the first time since the pandemic. The trend continued in April, driven by an improvement … Read more

Indian auto industry poised to reach USD 300 Billion by 2026; Revving up for innovation and expansion

Indian auto industry poised to reach USD 300 Billion by 2026; Revving up for innovation and expansion

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

Large utility vehicles race past compact cars in growth lane

Large utility vehicles race past compact cars in growth lane

Mumbai: Sales of large utility vehicles such as SUVs and MPVs, which meet the government’s definition of ‘popular SUVs’, advanced at a faster clip of 27% in FY24 ahead of a 25% growth in the compact SUV segment, according to analysis of data compiled by the Society of Indian Automobile Manufacturers (Siam).While compact SUV models … Read more

Vehicle registrations rise by a modest 3% in March

Vehicle registrations rise by a modest 3% in March

Vehicle registrations – a proxy for retail sales – went up by a modest 3% last month to 2.13 million units due to subdued demand during the inauspicious period of holastak ahead of Holi, as per data collated by industry body Federation of Automobile Dealers Association (FADA). While passenger vehicle and commercial vehicle retails declined … Read more

Volkswagen to bring more premium vehicles to India

Volkswagen to bring more premium vehicles to India

Jaipur: Rapid growth in the highway network, along with an increase in the spending power of consumers, is pushing up sales of vehicles in India, German automaker Volkswagen’s executive director, international sales, Michael Mayer, told ET. The company, he said, is invested in bringing more premium vehicles to strengthen its presence in this market. India … Read more

Sales of cars, sedans, utility vehicles see their best-ever February

Sales of cars, sedans, utility vehicles see their best-ever February

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

China Plus One: Auto industry to invest $7 bn in 5 years to deepen parts localisation

China Plus One: Auto industry to invest  bn in 5 years to deepen parts localisation

Indian auto industry is set to invest up to $7 billion, or about Rs 58,000 crore, by FY28 to deepen localisation of advanced components from electric motors to automatic transmissions to reduce imports and capitalise on multinationals’ ‘China Plus One’ sourcing strategy. Automakers and their suppliers are likely to make this investment between FY24 and … Read more