NEW DELHI: Jaguar Land Rover India on Wednesday said its retail sales increased 31 per cent year-on-year to 1,371 units for the first quarter ended June 30, 2024. The automaker had retailed 1,048 units in the April-June quarter of last fiscal. Sales of both Defender and Range Rover Evoque grew by more than 50 per … Read more
Amid weakening demand and rising inventory, leading automakers Tata Motors and Mahindra & Mahindra (M&M) on Tuesday announced heavy discount on purchase of their select and popular SUVs. Mahindra XUV700 approaches its three-year anniversary in the Indian market, M&M has announced celebratory discounts of over Rs 2 lakh on its range-topping AX7 variants for the … Read more
Tata Motors Ltd. and Mahindra & Mahindra Ltd. are closing in on Hyundai Motor Co.’s No. 2 position in India, putting pressure on the South Korean automaker just as it prepares for a record $3.5 billion listing of its local unit. While Hyundai has long wrestled with Tata Motors for the second spot, Mahindra — … Read more
Sales of commercial vehicles – a barometer of economic activity – surpassed expectations last quarter driven by strong replacement demand and continued government spending on infrastructure. As per industry estimates, more than 234,000 trucks and buses were sold in the local market in the three months ended June, a 4.5% rise from 224,000 vehicles sold … Read more
ET Intelligence Group: Nifty 50 companies are expected to report double-digit growth in aggregate revenue and profit for the June quarter, driven by select companies from the automobile, banking and finance, and pharmaceutical sectors. According to ETIG estimates, the sample’s net profit is expected to grow 26.4% in the quarter. Cautiously Optimistic Outlook This growth … Read more
New Delhi: Automakers have taken the lead in salary increases among all sectors in India, handing out double-digit hikes to their employees for fiscal 2024 amid a robust growth in sales, a Deloitte survey shows. “Automotive OEMs are projecting the highest salary increments across all sectors in 2024, which is 100-140 basis points (or, 1-1.4 … Read more
Passenger vehicle sales in India stayed in the slow lane for the third straight month in June mainly due to a high base and easing of post-pandemic pent-up demand. June sales rose 3.7% from a year earlier but fell marginally from May. As per industry estimates, 340,784 cars, sedans and utility vehicles were sold last … Read more
New Delhi: Tata Motors on Monday reported an 8 per cent decline in total domestic wholesales to 74,147 units in June. The company’s domestic wholesales stood at 80,383 units a year ago. Sales of passenger vehicles, including electric vehicles, in the domestic market, were lower by 8 per cent at 43,624 units in June as … Read more
Nifty could extend its gains as momentum remains strong with technical charts suggesting a positive bias. If the Index crosses and sustains above the 24,200 level, the momentum could push it towards 24,500-24,600. Analysts recommend stocks such as Reliance, ICICI Bank, LIC Housing Finance, Grasim, Praj Industries, Biocon, Cipla, Apollo Tyres, Tata Motors, and BEL … Read more
Mumbai: Wholesale volumes across various segments of the automobile industry in June 2024 are anticipated to reflect a subdued trend, primarily attributed to the absence of wedding dates, according to Anand Rathi report. Analysts project a mixed performance with two-wheeler (2W) volumes showing resilience, while passenger vehicles (PVs) and commercial vehicles (CVs) are expected to … Read more
