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
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 – 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
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 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
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
Passenger vehicle makers in February are estimated to dispatch 360,000 units to their dealers, the highest ever for February in any year. Sustained demand, coupled with new model launches, is likely to notch up sales by 8% year-on-year, as per industry estimates. It would be the first time in seven years when February will see … Read more
Vehicle registrations – a proxy for retail sales – increased 21% last month as consumers closed purchases across categories availing of year-end discounts and anticipating a price hike in the new year. This growth in monthly registrations was a sharp pickup from the previous two years when the numbers had dropped – by 5.4% in … Read more
In the 1980s, owning a car in India was considered a luxury. With just two options available, the Fiat and the Ambassador, the idea of a new, modern car seemed far-fetched. However, a small, little car called the Maruti 800 arrived and changed the game. It revolutionized the automotive industry in India. The Maruti 800 … Read more
