Passenger Vehicles

Car dealer inventories rise despite retail sales of PVs up 4% in May

All vehicle categories, except tractors, post double-digit growth for March and the full financial year

Growth in sales and production in FY23 had come with some easing in the chip-supply situation and pent-up demand

Rural consumption will be crucial in the near-term for two-wheelers, while tractor sales have been healthy due to higher crop prices and adequate water reservoir levels

Kunal Behl, VP, Honda Cars India said that there are also plans to re-launch an SUV in the first half of the next fiscal year to ride on the booming segment in the country

Union Minister of State for Environment Ashwini Kumar Choubey on Sunday said the government has taken various steps to bring down pollution and will soon bring out a policy on the scrapping of private vehicles aged more than 15 years. He was addressing reporters at 'Meet the Press' in Nagpur. A policy is already in place for scrapping old government vehicles. Replying to a query on whether a similar policy will be brought for private vehicles older than 15 years, Choubey said, "A high-level joint meeting of the Ministry of Environment and nine other departments was held recently. The government is working on a policy to encourage private vehicles older than 15 years to go for scrapping after getting a (vehicle) health certificate. "The government will give a 25 per cent rebate on the purchase of new vehicles (to those) having the scrap certificates. Besides, new vehicles will be registered free," he added. Describing the proposed move as a "revolutionary step", the minister said .

Slowdown began showing up in Jan, though there has been some improvement in March second half

SIAM has said that BMW, Mercedes and Volvo Auto data is not available while Tata Motors data is only available for April-December

At the retail level, too, the industry posted 9.6 per cent YoY growth

SUVs are expected to nearly double their share in overall domestic sales to roughly 55% in fiscal 2024 from about 28% in fiscal 2018

Tata Motors on Friday said it will increase prices of its internal combustion engine-powered passenger vehicle range by 1.2 per cent on a weighted average basis from February 1. The company has been absorbing a significant portion of the increased costs on account of regulatory changes and a rise in overall input costs, and is hence passing on some portion through this hike, the auto major said in a statement. Effective February 1, 2023, the weighted average increase will be 1.2 per cent, depending on the variant and model, it added. The company sells various models like Nexon, Harrier, Safari and Punch in the domestic market.

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In December last year, the company had said it would hike prices of its vehicles to offset the impact of rising input costs

Data showed that passenger vehicle sales grew by 23 per cent in 2022 compared to the previous year to touch 3.79 million units

However, FADA had warned that retail sales could be hit in the current quarter, with stricter fuel efficiency norms aimed at reducing carbon emissions set to come into effect from April this year

"Our focus is on bringing all kinds of body styles and products at different accessibility points from the lowest possible to the highly aspirational"

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According to Siam, 4.13 million vehicles - including passenger and commercial - were sold in the country between January and November 2022

Clock 11% growth in the first 11 months of 2022