Car Sales

Tesla sets record with 422,875 car deliveries after slashing EV prices

Tesla Inc. delivered 422,875 cars worldwide in the first quarter, setting a record after it cut prices to appeal to consumers buffeted by rising interest rates and faster inflation

Maruti Suzuki sales dip marginally in March; highest ever sales in FY23

Maruti Suzuki India on Saturday said its total sales declined marginally to 1,70,071 last month as compared with 1,70,395 units in March 2022. Total dispatches to dealers in the domestic market declined 3 per cent to 1,39,952 units as compared with 1,43,899 units in March 2022. Exports last month however increased 14 per cent to 30,119 units from 26,496 units in the year-ago period. For the last financial year, the company reported its highest ever wholesales till date at 19,66,164 units, up 19 per cent from 16,52,653 units in 2021-22. Domestic dispatches stood at 17,06,831 units in 2022-23 as against 14,14,277 units in 2021-22. Exports rose to 2,59,333 units from 2,38,376 units a year ago.

Hyundai March sales up 11%; records highest ever dispatches in FY23

Hyundai Motor India on Saturday logged 11 per cent increase in wholesales at 61,500 units last month as compared with 55,287 units in March 2022. Domestic dispatches in March 2023 rose 13 per cent to 50,600 units as compared with 44,600 units a year ago. Exports rose to 10,900 units from 10,687 vehicles in the same period a year ago. Total sales in last fiscal year stood at 7,20,565 units, up 18 per cent from 6,10,760 units in 2021-22. It is the company's highest-ever sales in a financial year since commencing operations in the country. Domestic dispatches last month rose to 5,67,546 units from 4,81,500 units in 2021-22. Exports were higher 18 per cent year-on- year to 1,53, 019 vehicles. "FY 22-23 has been a phenomenal year for Hyundai Motor India, as we introduced seven segment defining products like the all-new Hyundai Tucson, new Venue, Venue N Line, all electric IONIQ 5, new Grand i10 NIOS, new AURA and the all-new Verna catering to different segments thus giving a strong p

Toyota Kirloskar Motor sales increase by 9% to 18,670 units in March

Toyota Kirloskar Motor (TKM) on Saturday said its sales increased by 9 per cent year on year to 18,670 units in March. The company had sold 17,131 units in the domestic market in March 2022. For the 2022-23 fiscal, the automaker reported a 41 per cent increase in wholesales at 1,74,015 units from 1,23,770 units in 2021-22 fiscal. "We are extremely pleased to close this fiscal year on a positive note and expect continued momentum and growth in the fiscal of 2024-2025. "The passenger vehicles segment witnessed a steady growth last year, and TKM was prepared to ride the wave by making deeper inroads into the market to meet the varied mobility needs," TKM Vice President, Sales and Strategic Marketing Atul Sood said in a statement. The company's new product launches, introduction of newer, greener and advanced technology options and reaching closer to customers, enabled it to successfully sustain the continued growth momentum, he added. "Given the strong customer demand for all our ..

Automaker Kia India sales fall by 5% to 21,501 units in March 2023

Automaker Kia India on Saturday said its sales wholesales declined by 5 per cent to 21,501 units last month, as compared to 22,622 units in March 2022. The company dispatched 8,677 units of Sonet, 6,554 units of Seltos, and 6,102 units of Carnival last month to dealers. For the 2022-23 fiscal, the automaker sold 2,69,229 units, a growth of 44 per cent over 1,86,787 units in 2021-22. "Our focus on offering futuristic design, combined with cutting-edge technology, has helped us in winning the Indian market and new-age customers alike. "With additional features and improvements in engine and transmission combinations in RDE-compliant vehicles, we are confident that we will continue our winning spree," Kia India VP and Head of Sales & Marketing Hardeep Singh Brar said in a statement.

MG Motor India reports best retail sales in March at 6,051 units, up 28%

MG Motor India on Saturday reported a 28 per cent year-on-year increase in its retail sales at 6,051 units in March, its best ever so far in a month. The strengthening of semiconductor supplies through various localisation initiatives and the easing of logistical bottlenecks have been key factors in achieving the highest ever sales, the automaker said in a statement. This momentum is expected to sustain and improve in the near future as well, it added. The company had retailed 4,721 units in March 2022. "The Next-Gen MG Hector, India's first internet SUV maintains its strong uptake in the market and has recorded its second-highest lifetime sales, since its launch, in the month of March," MG Motor India Senior Director Sales Rakesh Sidana noted. Similarly, the ZS EV has been registering good traction across market segments, he added. The automaker said it is gearing up for the launch of its forthcoming electric vehicle 'Comet'.

TMS Ep394: Car sales in India, BCI's new rule, OMC stocks, G-SIBs

Are car sales moving to the slow lane? How will BCI's new rule change Indian legal landscape? Is it the right time to buy OMC stocks? What are Global Systemically Important Banks? Answers here

Honda Cars reports 15% decline in sales at 6,086 units in February

Honda Cars India on Wednesday reported a 15 per cent year on year dip in sales in the domestic market at 6,086 units in February. The company had sold 7,187 units in the domestic market in February 2022, Honda Cars India Ltd (HCIL) said in a statement. Exports declined to 973 units last month as compared with 2,337 units in the year-ago period, it added. "Our sales performance in the month of Feb'23 has been as per our plan towards seamless transition of our models to new emission norms," Honda Cars India Director Marketing and Sales Yuichi Murata said. The company is currently gearing up for the launch of the new City, he added. "We are confident that it will generate new excitement and appealing options for customers," Murata noted.

In the fast lane: At 335,269 units, car sales create a February record

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

Maruti Suzuki total wholesales up 5% in February at 172,321 units

Maruti Suzuki India on Wednesday said its total wholesales increased 5 per cent to 1,72,321 units in February. The country's largest carmaker had dispatched 1,64,056 units to its dealers in February 2022. Domestic wholesales rose 11 per cent to 1,55,114 units as compared with 1,40,035 units in February last year, the automaker said in a regulatory filing. Total exports last month however dropped 28 per cent to 17,207 units from 24,021 units in February 2022.

MG Motor India Feb sales fall 7% to 4,193 units, to ramp production

MG Motor India on Wednesday reported 7 per cent drop in retail sales at 4,193 units in February over the same month a year ago. The company had sold total 4,528 units in February 2022. The carmaker said that while booking for the Next-Gen Hector is positive, the supply situation of select variants is impacted. MG Motor India is also focused on ramping up the production of premium SUV MG Gloster to cater to the SUV demand, the company said.

Tesla cuts vehicle prices in bid to boost flagging demand

With its sales slowing and its stock price tumbling, Tesla Inc. slashed prices dramatically Friday on several versions of its electric vehicles, making some of its models eligible for a new federal tax credit that could help spur buyer interest. The company dropped prices nearly 20% in the United States on some versions of the Model Y SUV, its top seller. That cut will make more versions of the Model Y eligible for a $7,500 U.S. electric vehicle tax credit that will be available through March. It also reduced the base price of the Model 3, its least expensive model, by about 6%. Far from pleasing investors, the sharp price cuts sent Tesla shares sinking about 4% in early trading Friday. Since the start of the year, the stock has plummeted more than 65%. Many investors fear that the sales slowdown will persist and have grown concerned about the erratic behavior of CEO Elon Musk and the distractions caused by his $44 billion purchase of Twitter. Itay Michaeli, an industry analyst at .

Electric vehicles look poised for slower sales growth this year: Report

We expect 13.6 million plug-in passenger vehicle sales in total for this year, with around 75% of those being fully electric

As India's EV market picks up, rich states lead the race in sales

Electrics and hybrids account for 1 per cent and 5.7 per cent share of total car sales, respectively

Jaguar Land Rover reports 5.9% jump in retail sales in Q3, wholesale up 15%

The company owned by Tata Motors said that it reflects gradual improvement in chip supplies

Auto retail sales dip 5% in December after two-month cruising: FADA

The Indian auto industry's domestic PV sales in December 2022 were 276,000 units, 8.3 per cent higher than in December 2021, according to company numbers

Volkswagen group's India sales rise 85% to 101,270 units in 2022

German automotive group Volkswagen's sales in India grew 85.48 per cent to 1,01,270 units in 2022, KODA AUTO Volkswagen India Pvt Ltd said on Wednesday. The group's sales in India stood at 54,598 units in 2021. The strategy of the group, which is present in India through brands SKODA, Volkswagen, Audi, Porsche and Lamborghini, is spearheaded by SKODA AUTO Volkswagen India Pvt (SAVWIPL). "While challenges around the ongoing chip shortage and increasing input costs continued, we successfully re-calibrated, taking action with agility and speed to minimise the impact of these," SAVWIPL Managing Director and CEO Piyush Arora said in a statement. On the strategic importance of India for the VW Group, he said it is an important market for the group's global expansion plans. "There is a story of sustainable progress emerging for the group in India and from India," he said, adding the country is also emerging as a key manufacturing hub for the group. Arora further said,"Exports remain a .

Top Headlines: Record car sales in 2022, 3rd highest GST collection in Dec

Business Standard brings you the top headlines at this hour

Top Headlines: Record car sales in 2022, 3rd highest GST collection in Dec

Business Standard brings you the top headlines at this hour

Hyundai Motor India sales rise 18.2% to 57,852 units in December 2022

Hyundai Motor India Ltd on Sunday reported an 18.2 per cent increase in total sales at 57,852 units in December 2022. The company had sold 48,933 units in the same month in 2021, Hyundai Motor India Ltd (HMIL) said in a statement. Domestic sales grew by 20.2 per cent last month at 38,831 units as compared to 32,312 units in the year-ago month. Exports also increased by 14.4 per cent at 19,021 units as against 16,621 units in December 2021, the company added. For the calendar year 2022, HMIL said it recorded its highest-ever domestic sales at 5,52,511 units with a growth of 9.4 per cent over 5,05,033 units posted in 2021. Cumulative sales in 2022 stood at 7,00,811 units as against 6,35,413 units in 2021, a growth of 10.3 per cent. Exports grew by 13.7 per cent last year at 1,48,300 units as compared to 1,30,380 units in 2021, it added. HMIL Director (Sales, Marketing & Service) Tarun Garg a strong product portfolio aligned with consumer trends has led to HMIL recording its ...