Page 16 - Auto Sales

Icra downgrades its outlook on automotive dealership sector to negative

The muted industry scenario has stressed credit profile of dealers, especially those of new entrants and, has forced some dealerships to shut down as well, he added.

Govt notifies scrapping policy, mandates discounts on junking old cars

OEMs, dealers to aid the collection of old vehicles, recyclable spares through the take-back scheme, or by setting up scrapping centres or through tie-ups with such facilities

Maruti Suzuki 'cautiously optimistic' over sales prospect in coming months

The country's largest car maker Maruti Suzuki India (MSI) remains 'cautiously optimistic' over sales prospect going ahead as many of the challenges that led to slowdown in the auto industry still exist, a senior company official has said. The company, which posted a growth in domestic passenger vehicle sales after seven months in October, said it would take at least few more months to get clarity if the industry is finally on a revival path. "We are cautiously optimistic. The reason why we are cautious is that we do not have a crystal ball. Many of the factors like high cost of acquisition, confusion related to BS-IV and BS-VI, issues related to finance norms and liquidity etc, continue to be there," MSI Executive Director (Marketing & Sales) Shashank Srivastava told PTI. He was replying to a query whether October sales were an indication of revival of the industry which has been grappling with demand slowdown for almost a year now. "We are optimistic a little bit because the ...

Parliamentary panel to study automobile industry slump, seek revival steps

Committee overseeing work of the Ministry of Heavy Industries and Enterprises to explore a new format.

Commercial vehicle makers unlikely to see festive cheer in October sales

Weighed down by an economic slowdown and increase in axle load - 30% additional capacity - major CV companies are expected to report a decline of around 20% in sales volumes in October 2019

Firms crack the Diwali code: Double-digit growth in consumer goods sales

Credit-driven sales were also high in consumer durables this Diwali, with around 70 per cent of sales in urban areas coming from finance schemes and cashbacks

Auto firms' warehouse leasing down amid vehicle sales slump: JLL India

According to JLL data, total warehousing leasing stood at 24.1 million square feet during January-September

Hyundai, Kia, MG Motor deliver over 15,000 units on Dhanteras

Market leader Maruti Suzuki India said the sales during the day were good, but did not share exact numbers

Retail sales of passenger vehicles skid 20% to 157,972 units in September

Sales of vehicles also remained in the red due to the Shraddh period during the month

China auto sales decline 5.2% in September, 15th month in a row

As recently as three years ago, automakers had enjoyed double-digit annual growth in China

Commercial vehicle sales declined 23% in the first half of FY20: SIAM

SIAM said the slowdown in the commercial vehicle segment might continue in Q3FY20 owing to the implementation of various regulations

Ashok Leyland's domestic sales drop 57% in September to 7,851 units

Domestically, sales of medium and heavy commercial vehicles (M&HCV) slumped 69 per cent to 4,035 units from the 13,056 in the past year

Toyota Kirloskar sales down 17% in Sept at 10,911 units; exports up 25%

Exports in September were at 708 units as against 566 units in the year-ago month

Mahindra & Mahindra total sales down 21% to 43,343 units in September

Homegrown auto major Mahindra and Mahindra (M&M) on Tuesday reported a 21 per cent decline in total sales at 43,343 units in September. The company had sold 55,022 units in the corresponding month last year, M&M said in a regulatory filing. In the domestic market, sales were down 21 per cent at 40,692 units last month as compared to 51,268 units in September 2018. Exports also registered a decline of 29 per cent at 2,651 units as against 3,754 units in the year-ago month. In the passenger vehicle segment, which includes utility vehicles, cars and vans, the company sold 14,333 units last month as compared to 21,411 units in the same month last year, down 33 per cent. In the commercial vehicle segment, the company sold 18,872 units as against 22,917 units in the same month a year ago, down 18 per cent. Reflecting on the sales performance, M&M Chief of Sales and Marketing, Automotive Division, Veejay Ram Nakra said,"we are positive that this festive season, with the onset of

Festival bonanza: Two-wheeler firms go full throttle to chase customers

This is the last-ditch effort by automakers to shore up sales in a financial year that has been marked by poor purchases and production cuts

Maruti Suzuki blames increase in ownership cost for declining car sales

Company indulging in heavy discounts to get customers back

Auto sales growth outlook revised to 5-7% for FY20, says report

The auto sales in the same period last year registered a double-digit growth at 14.5 per cent

Why the FM has a point about app-based taxis impacting car demand

With economic slowdown, financial sector woes, the wait for stricter emission norms also at play, why don't car makers who can afford to slash prices do so to keep sales ticking, asks T N Ninan

Auto slowdown: Ashok Leyland declares non-working days across units in Sept

Ashok Leyland has agreed to give 5.42% of the profit of 2018-19 as bonus to employees

Slowdown blues: Auto sales down 23.5%, worst slump in two decades

Maruti Suzuki India posted 36.14% decline in its August sales at 93,173 units