Strong demand for SUVs helped India's passenger vehicle sales reach an all-time high in the fiscal year 2022-23, with over 3.9 million units sold, while sales of entry-level vehicles faced difficulties.
FADA said the three-wheeler (3W) segment witnessed the highest growth rate last month posting 83.14 per cent increase at 56,313 units, up from 30,748 units in the same month a year ago.
The festive season, which usually witnesses a spike in automobile sales, begins this year on August 11 with Rakshabandhan stretching up to Diwali on October 25.
All the segments were hit last month as showrooms across various states were forced to down shutters amid the pandemic led restrictions. Total registrations across categories in May dropped to 5,35,855 units as compared to 11,85,374 units in April this year.
Base effect along with a rebound in domestic demand led major automobile players to report healthy year-on-year and sequential sales numbers for September. Analysts cited factors such as healthy monsoon, pent up demand and preference for personal mobility over public transport due to the pandemic as other key reasons for the upswing.
Coronavirus pandemic has brought the life as we know it to a standstill. Things on the automotive front are no different. As we move into May, it has been over a month since all manufacturing plants have been shut for operations. This has led to an unprecedented month in terms of sales figures. As the numbers come out for the month of April, it is highly probable that not even a single car was sold in India.
The coronavirus outbreak and inventory correction before the transition to BS-VI emission norms are expected to pull down aggregate revenue of some of the auto and auto ancillary companies by 26 per cent in March quarter even as the near-term weakness in demand is likely to continue as COVID-19 persists, a report said on Monday.
The run-up to BS VI transition along with the general economic slowdown and truncated production led to the decline in sales of automobile majors in February, market watchers said on Monday.
Maruti Suzuki, India's biggest car manufacturer has managed to give its sales numbers a boost in the Diwali festive season. Maruti, which was struggling because of the overall slowdown in the auto sector has managed to rack up some solid numbers.
The steps taken to reverse the economic slowdown, along with the upcoming festive season offers, might have the potential to accelerate the automobile sector's sales growth, industry insiders opined.
The Central government might bring in a proposal to lower GST rate on automobiles which is currently in the highest 28 per cent tax bracket. Alternatively, the cess over GST slab rate applicable on automobile may be lowered.
Car sales in April have dipped by almost 20 per cent while the sale of passenger vehicles also plunged by 17 per cent in comparison to the same period last year. Motorcycle sales last month declined by 11.81 per cent.
Weak consumer sentiment, along with a rise in borrowing costs and increased fuel prices dented domestic automobile sales last month, a research note said on Wednesday.
Monthly automobile sales growth rate in India slipped to a 16-year low in December with total vehicle sales declining by 18.66 per cent as demonetisation hits the industry hard.
Frankfurt: The Chief Executive Officer of the embattled German auto giant Volkswagen has said that the company is giving up on its ambition to become the world's biggest carmaker and beat Japanese rival Toyota in
Mumbai: India Ratings and Research (Ind-Ra) has revised its FY16 sales volume expectations for passenger vehicles upwards by 4-7%, and 5-8% downwards for light commercial vehicles.The rating agency further said it has revised motorcycles outlook
New Delhi: Domestic passenger car sales increased 3.14% to 1,69,300 units in January 2015 as compared with 1,64,149 units in the year-ago month.Motorcycle sales last month declined 5.85 per cent to 8,68,507 units as compared
Mumbai: The BSE benchmark Sensex today rebounded from 3-week lows to end over 137 points up as investors cheered the lower-than-expected June quarter CAD number and encouraging September sales for automobile firms. The stock markets
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