Page 11 - Auto Sales

At up to 50%, cars in India suffer among the highest tax rates globally

Cars and two-wheelers attract 28% GST and a cess in the range of 3-22%, taking the effective tax rate to up to 50%

Moped sales see highest growth in segment in August since lockdown

Moped sales have turned around since June on the back of good monsoon and positive sentiment in the rural market

Auto sales rebound in August after nine months due to pent-up demand

Two-wheeler sales increased by 3 per cent to 1,559,665 units, while passenger cars grew 14 per cent YoY to 124,715 units

Suzuki Motor ups stake in Maruti to 56.37%, buys 284,322 equity shares

Prior to the transaction, Suzuki held a 56.28 per cent stake in Maruti Suzuki

China auto sales increase 6% in August, down 15.4% from year-ago period

China's car sales rose 6% in August over a year earlier as the industry's biggest market recovered from Covid-19, but purchases for the year to date were off more than 15%, an industry group reported

Auto retail sales down by 26.8% in August, jump in tractor segment by 28.7%

Dealers said that the overall demand is still not back to pre-Covid levels as banks and NBFCs continue to have a cautious approach towards funding

Auto component firms eye higher exports, low imports to become self-reliant

Top official at various auto component firms said exports, which anyways have been intrinsic to the overall strategy, will increase at a rapid pace over the next two to five years

Rising sales numbers not a reflection of ground reality, say auto dealers

Dealers say that with more job cuts and salary reduction, banks and NBFCs have become more cautious

Tata Motors starts Q2 on strong note, riding on passenger vehicles sales

During the month, the Tata group flagship sold 18,580 units as compared to 7,316 units a year ago

Hit hard by lockdown, three-wheeler makers stare at long road to recovery

Demand for the last-mile vehicle has collapsed amid restricted movement

Hyundai Motor names Ganesh Mani, Tarun Garg as whole-time directors

Appointments are for a period of three years, effective August 24, 2020

From PMI to auto sales, August numbers send mixed signals on recovery

E-way bills, after showing an uptrend since April, stagnated in August

Auto sales bounce back in August on low base effect, pent-up demand

Dispatches at India's top two car makers, Maruti Suzuki India and Hyundai Motor India, zipped past not only the pre-Covid phase but also the months preceding the pandemic

Kia Motors India reports 74% increase in August sales at 10,845 units

Kia Motors India on Tuesday reported a 74 per cent increase in sales at 10,845 units in August as compared with 6,236 units in the same month last year. Owing to recovery of demand in the domestic market since resuming operations after the lockdown, the company has been able to consolidate its position as one of the top five car manufacturers in the country, Kia Motors India said in a statement. Setting one more milestone in its India journey, the company also marked sale of 1 lakh units of Seltos in less than a year's time, it added. Sales of Seltos stood at 10,655 units last month, the company said. Kia Motors began its journey in India in August 2019 with Seltos. Within one year of commencement of sales in the country, the automaker has acquired almost 6 per cent market share in the passenger vehicle segment with only two products Seltos and Carnival, it said. The company is set to launch its third product, compact SUV Sonet, later this month. "Indian consumers have been very

Ashok Leyland's M&HCV sales decline by 52% YoY in August, LCV by 3%

Bus segments drags volumes with 93% drop

August sales: Mahindra's auto dispatches decline 13%, tractors up 69%

Volumes were dragged by medium & heavy commercial vehicles and three-wheelers. which fell 71 per cent and 94 per cent respectively

Mahindra's auto dispatches decline 13% in August, tractors up 69%

Mahindra's passenger vehicle segment that includes the utility vehicles and passenger cars was a saving grace and helped offset some decline in the overall auto sales

Despite Covid-19, Hyundai expects to cross yearly domestic growth threshold

Last month, the auto major's domestic sales volume reached 98 per cent of July 2019 level

Two-wheeler makers hold out for GST rate cut, stocks of most firms rally

Companies are optimistic that if the proposal does get accepted by the GST Council, it will certainly push demand ahead of the festive season and add heft to the recovery underway

Automakers expect demand to pick up in festive season despite Covid-19

If Covid-19 situation improves, it would lead to improved sales and if somehow the scenario deteriorates then the sales would also be impacted, Srivastava noted