Carmakers have started offering discounts and freebies this fiscal after a hiatus of three years, hoping to entice new buyers and clear record inventory levels. Car dealership stock reached an all-time high of 310,000 vehicles at the start of the financial year. This is leading companies into pushing sales by expanding into smaller towns and … Read more
Bajaj Auto, the third-largest motorcycle maker by sales, said it will disrupt the entry level domestic motorcycle market with the launch of the world’s first compressed natural gas (CNG)-run motorcycle, which it claims will halve the monthly fuel expense. Bajaj Auto is hoping this will shake up market leader Hero MotoCorp’s dominance in the entry-level … Read more
As per data available with industry body Society of Indian Automobile Manufacturers (SIAM), as many as 370,786 cars, sedans and utility vehicles were sold last month, which is an increase of 10.8% over 334,790 units reported in the same period last year. This was the third highest monthly sales on record, behind 3,94,500 units the … 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
Maruti Suzuki, Hyundai Motor, Tata Motors and Renault India posted the highest-ever share of sales from rural markets in calendar year 2023 amid improved consumer sentiments and better liquidity among the rural rich. However, inflationary pressures weighed on rural demand for fast-moving consumer goods and consumer durables. While the share of rural sales at Maruti … Read more
The total domestic Passenger Vehicle (PV) wholesales rose 4 per cent in December 2023 at 2,86,390 units as against 2,75,352 units sold in December 2022, data from Society of Indian Automobile Manufacturers (SIAM) showed on Friday. The automakers sold 12,11,966 two-wheelers in the last month of 2023, a growth of 16 per cent from December … Read more
