Are you planning to buy a car this festive season? Over the past couple of months, car sales have been on a downward trend. But automakers are banking on some hefty discounts and enticing promotional offers tied to the festive season to finally shift those sales into high gear. The Indian automobile market, once driven … Read more
Kumar Rakesh, Associate Director, Equity Research, BNP Paribas says one should expect a much weaker set of auto sales numbers in September as half of the month came under the inauspicious Pitru Paksha where new purchases are nor made. Within that, the passenger vehicle industry has been moving towards low single-digit, flattish, sort of a … Read more
Rising inventory across sales channels and lack of competitively priced new models that can attract buyers are beginning to weigh on the wholesale volumes (dispatches to dealers) of the passenger car industry. For the first time in 30 months, the volume of the passenger car industry is expected to decline 2.5-3% on a year-on-year basis … Read more
Mumbai: Sluggish sales and high dealer inventory have not stopped carmakers from gearing up for a major product offensive in the upcoming festival season. As many as 20 new passenger vehicle models – including 12 entirely new offerings – are set to hit Indian roads by October end, with automakers pinning their hopes on the … Read more
(NewsNation) — U.S. home sales in May dropped to the third-lowest level in a decade as homebuyers continue to face elevated mortgage rates, record-high prices and low inventory. Last month, 407,959 homes were sold, down roughly 3% from a year ago, according to real estate brokerage Redfin. To put that in perspective, only two months … Read more
Mumbai: Passenger vehicle makers have approached auto financiers requesting them to extend the credit cycle for dealers to 90 days from 60 at present, indicating the pressure building up in the retail channels amid slowing sales, which is leading to stock piling up at car dealers. This trend was last seen in FY19, said multiple … Read more
Vehicle registrations – a proxy for retail sales – went up by a modest three percent to 2.09 million units last month with consumers delaying purchases due to election-related uncertainties and extreme heat. Passenger vehicle registrations dipped marginally during the month under review by 0.96% to 303,358 units. As per data collated by industry body … Read more
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
B Thiagarajan, MD, Blue Star, says the AC industry, as well as Blue Star, had a great FY24 though the summer of FY23 was not a good one for the AC industry. March saw an unexpected growth in the last week. The industry for the month of March alone would have grown by over 40%. … Read more
Vir Advani, CMD, Blue Star, says “room air conditioners had a fantastic Q4. April, of course, has been very strong for the industry as well as for us, as has our commercial refrigeration products, deep freezers, water coolers, etc. I think that the outlook for the summer is, of course, strong. In May and June, … Read more
