Auto News
Surge in Q2 FMCG, phone, car sales may bring festive cheer
Sales of FMCG, cars, smartphones, and household appliances surged in the September quarter, driven by lower inflation, improved monsoon, price cuts, and offers. Passenger vehicle makers had their best-ever quarter, while the FMCG market grew 8-12% boosted by rural demand and price cuts. Sales of high-value items like televisions and refrigerators also increased. However, sales of mass segment and entry-level products have yet to recover. Rising crude oil prices are reversing the benefits of lower input costs, putting pressure on production costs.
Indian auto industry breaks records: 363,733 cars and SUVs sold in September
In percentage terms, sales rose by a modest 2% during the month, hemmed in by a high year-earlier base which saw robust post-pandemic pent-up demand. Companies mostly report wholesale dispatches from plants to dealerships and not retail sales to customers.
PV sales rise to record high in September amid festive demand
Sales rose by a modest 2% during the month, hemmed in by a high year-earlier base which saw robust post-pandemic pent-up demand. While demand for SUVs remained robust amid new launches, there continued to be some pressure on sales on entry-level cars. Senior industry executives, however, are optimistic that the demand momentum will sustain and lift sales this festive season.
Carmakers raise prices, cut offers on best-sellers amid strong demand
Several automakers in India, including Kia, Mahindra, Hyundai, and Honda, have raised prices on popular models such as the Kia Seltos, Mahindra XUV700, Honda City, and Hyundai Venue due to strong demand and rising input costs. The price increases range from ₹7,900 to ₹81,000. Some carmakers cited higher input costs, while others mentioned product enhancements and the introduction of new features as reasons for the price hikes.
General Motors India’s retrenched workers to sit on an indefinite chain hunger strike
Workers of the former General Motors India are threatening to go on an indefinite hunger strike starting October 2. They are protesting against their alleged non-absorption by Hyundai Motor India, the proposed new owner of the car manufacturing plant near Pune. The workers, under the banner of General Motors Employee Union (GMEU), are demanding to be absorbed by the new owner. Hyundai.
General Motors Employees Union calls for chain hunger strike from Oct 2
The employee union of General Motors India is calling for a chain hunger strike to demand the transfer of all workers to Hyundai Motor, which plans to acquire the manufacturing facility in Talegaon. The union accused the government of not taking the unemployment issue seriously. General Motors stopped selling cars in India in 2017 and is selling its Talegaon plant to Hyundai.
Festive demand steers passenger vehicle wholesales to record high in September
Passenger vehicle wholesales in India reached a record high in September as automakers supplied dealers to meet strong demand during the festive season. The industry dispatched 363,733 units last month, the highest ever recorded. The increase in dispatches can be attributed to dealers preparing for the festive season and the stabilization of chip supplies.
Tata Motors September sales up by 2% in domestic market
Tata Motors reported a 2% increase in overall domestic vehicle sales in September compared to the same month last year. Domestic passenger car sales, including electric vehicles, declined by 6% last month. However, sales of electric vehicles, including those in foreign markets, increased by 57%.
Maruti Suzuki records highest ever monthly sales in September at 1,81,343 units
In September, the company said the sales of its entry level cars -- Alto and S-Presso -- stood at 10,351 units, down 65 per cent from 29,574 units in the year-ago period. Sales of compact cars also declined to 68,552 units last month from 72,176 units in September 2022.
Hyundai reports highest ever monthly sales in September at 71,641 units
The ongoing festive season has resulted in strong sales momentum, helping the automaker achieve 9 per cent growth, he added. "Our strong SUV portfolio has received a further boost with the exceptional customer response to the newly launched Exter," Garg said.
Tesla launches updated Model Y in China, keeps starting price unchanged
Tesla unveiled a restyled Model 3 with a longer driving range, manufactured at its Shanghai factory, in China and other export markets in early September. The changes include a new wheel design, according to a post by Tesla's official WeChat account. The starting price in China for the Model Y, the company's global best-seller, was unchanged at 263,900 yuan ($36,146).
Full speed ahead: Vehicle sales set to touch a new high in April-September period
This period has also seen significant changes in powertrain share, with hybrid, CNG and electric vehicles showing gains. This change is being driven by rising fuel prices, concerns about air pollution and government incentives, said Ravi Bhatia, president, Jato Dynamics.
British brand Aston Martin sees high growth opportunities in Indian market
Aston Martin is aiming for significant growth in the Indian market by targeting the increasing number of high net worth individuals. Aston Martin currently sells 10-15 units per year in India and aims to expand its sales through the introduction of electric vehicles, sports cars, hybrid supercars, and SUVs.
Maruti Suzuki receives show cause notice from GST authority
Maruti Suzuki India has received a show cause notice from the GST authority for the period between July 2017 and August 2022. The notice demands interest, penalties, and the appropriation of Rs 139 crore in tax that has already been paid. The company plans to file a reply to the notice and has stated that it will not have any impact on its financial or operational activities.
Toyota plans third India plant, new SUV as domestic sales surge
Toyota plans to build a third car plant in India to expand its production capacity, with a proposed initial capacity of 80,000-120,000 vehicles per year. The plant would increase Toyota's existing manufacturing capacity in India by up to 30%. The company is also developing a new SUV for the Indian market, which will be launched in early 2026 and serve as a flagship product for the new factory.
No country can match India's potential for growth in car market: RC Bhargava, Maruti Suzuki
"Whether it is the United States, whether it is Europe, whether it is Japan, whether it is China — all these countries have now become saturated in terms of their ability to absorb more cars. And all these countries really are not having any growth in their market. Their production is a replacement kind of situation."
