PV Sales

Higher incomes and a strong order book driven by pent-up demand, especially for SUVs, will support domestic growth even as exports remain sluggish helping vehicle sales touch a record of 5 mn units

On a daily basis, consumption of gasoline rose marginally in December compared to the previous month

Catch all the live updates from around the world here

This is mainly on pent-up demand and better semiconductor chip supply

Passenger vehicle wholesales in India rose 28 per cent year-on-year in November, aided by robust demand for both utility vehicles and cars, industry body Society of Indian Automobile Manufacturers said on Tuesday. Overall passenger vehicles dispatched from companies to dealers stood at 2,76,231 units last month as compared to 2,15,626 units in November 2021. Utility vehicle wholesales rose 32 per cent to 1,38,780 units in November against 1,05,091 units in the year-ago period. Similarly, passenger car dispatches increased 29 per cent to 1,30,142 units from 1,00,906 units in November 2021. Van sales, however, dropped to 7,309 units last month from 9,629 units in November 2021. "Positive consumer and business sentiments have reflected in the better sales in the month of November 2022, compared to the previous year," Society of Indian Automobile Manufacturers (SIAM) President Vinod Aggarwal said in a statement. There is a sequential decline in wholesales over October 2022 attributab

Entry-level cars, two-wheelers remain in slow lane; two-wheeler exports jump

Domestic passenger vehicle retail sales in March declined by 4.87 per cent to 271,358 units, as compared to the same month last year, automobile dealers' body FADA said on Tuesday.

The demand for passenger vehicles (PVs) will witness moderate growth over the next few quarters with complete unlocking of the economy and revival of demand, particularly in the rural areas, according to Acuite Ratings & Research. However, it said the volumes may remain partly constrained due to the continuing supply challenges in semiconductors and also the sharp increase in retail fuel prices. The domestic PV sales registered a healthy growth of 14.7 per cent year-on-year in FY22 despite the supply challenges in semiconductors that led to longer waiting periods and production cuts for certain models, Acuite said in a statement. The growth print was also supported by a low base factor, given the protracted lockdown in FY21, it added. "Acuite believes that the demand for PVs will witness a moderate growth over the next few quarters with complete unlocking of the economy and revival of demand, particularly in the rural areas," it said. For two-wheelers, the rating agency said the .

Easing supply side constraints of semiconductors as well as healthy demand led many passenger vehicle manufacturers to report healthy wholesales during last month.

The industry body warned that the Russia-Ukraine conflict could further impact the production of semiconductors

A key reason for lower than expected inflation projections could be weak demand

Passenger vehicle exports from India increased 46 per cent in the first nine months of the current fiscal year, with Maruti Suzuki India leading the segment with dispatches of around 1.68 lakh units

Analysts fear that this time, it may take many years of double-digit growth for the industry to recoup the loss in sales volume

Low base effect along with pent up demand pushed India's domestic private vehicle (PV) sales higher on a year-on-year basis in August.

Though there was a recovery in the passenger vehicles segment sales

Analysts tracking the sector said that they expect auto sales to be strong in the second half of the financial year

At present, EVs account for 2 per cent of the company's passenger vehicle (PV) sales

Piaggio Vehicles on Tuesday said it has added 100 dealerships in both its commercial and passenger vehicle businesses across India in 100 days despite challenging times.

Mahindra & Mahindra (M&M) on Thursday said it has sold a total of 40,403 units in March. The company had dispatched 6,679 units in March 2020 amid sales disruptions due to COVID-19 pandemic. The Mumbai-based automaker sold 16,700 passenger vehicles last month in the domestic market. It had dispatched 3,383 units in March 2020. It sold 21,577 commercial vehicles in the domestic market last month. The company had dispatched just 2,742 units in March 2020 due to coronavirus-led lockdown. "At Mahindra we are witnessing very good momentum in demand and have a strong pipeline of bookings across our SUV range of Bolero, Scorpio, XUV300, All-New Thar and also the Bolero Pik-up," M&M Automotive Division CEO Veejay Nakra said in a statement. In fact Bolero volumes for March have been the highest in this financial year and despite supply constraints the company has been able to ramp up production of Bolero Pik-up significantly during the month, he added. "We expect supply challenges .

Total passenger vehicle sales last month stood at 29,654 units. The company had sold 5,676 units in March 2020