Page 2 - Car Sales

MG Motor India retail sales rise 53% to 3,899 units in December 2022

MG Motor India on Sunday reported a 53 per cent rise in retail sales at 3,899 units in December 2022. The company had sold 2,550 units in the same month in 2021. The twin challenges of the pandemic and logistical headwinds have had an impact on production, but the coming month could see an improvement across many of these parameters, the company said in a statement. MG Motor said it has continued to foster EV adoption in the country in the form of multiple industry partnerships such as those for charging station installations with JioBP and BPCL. A total of 150 chargers have been installed across the country as part of MG's drive to support the EV infrastructure in India. Sales of the company's ZS EV recorded a growth of over 60 per cent in 2022, it added.

Govt finalises rules for used car market, aims to resolve host of issues

Move to curb rise of fraudulent intermediaries, address disputes over third party damage liabilities

Nov car sales zoom to record high; Maruti, Hyundai post double-digit growth

Tata Motors saw its despatches jump 55 per cent to 46,425 units during the month

Toyota Kirloskar Motor reports 10% decline in sales in Nov to 11,765

Toyota Kirloskar Motor (TKM) on Thursday said its wholesales declined by 10 per cent to 11,765 units in November 2022. The company had sold 13,003 units in the domestic market in the year-ago period. TKM has discontinued compact SUV Urban Cruiser and also paused bookings for diesel version of Innova which impacted its overall dispatches last month, a company statement said.

Used car retailer Carvana lays off 8% workforce as interest rates rise

The layoffs add to an increasing number of tech-related job cuts in the face of rising interest rates, persistent inflation, and economic downturn fears

Hatchback sales lose momentum in India due to changing consumer preference

Hatchbacks like WagonR and Alto have seen a decline during the past few years due to changing consumer preference

Nissan Motor wholesales rise 45% to 10,011 units in Oct in festive season

Nissan Motor India on Tuesday said its total wholesales increased by 45 per cent to 10,011 units in October as compared to the same month last year. The company had dispatched a total of 6,917 units in October 2021. Last month the automaker sold 3,061 units in the domestic market and also exported 6,950 units, Nissan Motor India said in a statement. The company had dispatched 3,913 and 3,004 units in the domestic and international markets, respectively, last October. "Festive season has strong momentum of increased number of deliveries, with customer preference for early delivery and ease of finance. Preference of customers was for SUVs specially amongst the first time and replacement buyers," Nissan Motor India Managing Director Rakesh Srivastava noted. The company is confident that demand will continue to rise with an improvement in economic growth, customer sentiment and with improvement in supply, he added.

Maruti Suzuki's total sales rise 21% to 167,520 units in October

Automaker Maruti Suzuki India Ltd (MSIL) on Tuesday reported a 21 per cent increase in total sales at 1,67,520 units in October. The company had sold a total of 1,38,335 units in the same month last year, it said in a statement. Total domestic passenger vehicle sales were at 1,47,072 units in October as compared to 1,17,013 units in the year-ago month, registering a growth of 26 per cent. Sales of mini segment cars, comprising Alto and S-Presso, grew to 24,936 units as against 21,831 units in October 2021. Sales of compact cars, including Baleno, Celerio, Dzire, Ignis, Swift, Tour S and WagonR, rose to 73,685 units last month as compared to 48,690 units in the year-ago month. According to the statement, utility vehicles consisting of Brezza, Ertiga, S-Cross and XL6 clocked sales of 30,971 units last month as compared to 27,081 units in the same period a year ago. Last month, sales of Eeco were at 8,861 units as against 10,320 units in October 2021 while that of light commercial .

Mercedes-Benz reports 28% rise in sales in India at 11,469 units in Jan-Sep

German luxury carmaker Mercedes-Benz on Wednesday reported a 28 per cent rise in sales in India at 11,469 units in the January to September period this year, surpassing what it sold in the whole of 2021. The company had sold 8,958 units in the same period last year, Mercedes-Benz India said in a statement. "Our sales are at pre-pandemic level, having crossed CY 2021 sales numbers in the first nine months this year. The current market momentum gives us the confidence for striving to achieve our highest sales ever," Mercedes-Benz India Managing Director & CEO Martin Schwenk said. Mercedes-Benz India had sold a total of 11,242 units in 2021. The sales growth witnessed this year so far is despite supply shortages and has been on the back of a "young product portfolio, resurgent customer sentiment scaling up businesses and the ongoing festive period", the company said. The total order bank of Mercedes-Benz India as of September 2022 is over 7,000 units, it added. The company said high

MG Motor India expects to turn profitable next year on higher sales

MG Motor India expects its operations to turn profitable next year as it looks to double its volumes with higher production capacity in place, the company's President and Managing Director Rajeev Chaba said on Monday. The company, which has been impacted by acute supply chain constraints, is looking to close the current year with sales of around 55,000-56,000 units. "Next year, we are looking at doubling our volumes. If we do 56,000 units this year and we are targeting over one lakh units in 2023. So that is why we think next year is definitely going to be a big year for us," Chaba told PTI in an interaction. He noted that the company is in the final stage of completing capacity expansion at its Halol-based manufacturing plant in Gujarat which would help it scale up dispatches to dealers next year. MG Motor had bought the Halol plant from General Motors and has been able to ramp the annual production capacity from 65,000 units to 1.25 lakh units now. "Last year we sold around 40,0

Car prices to rise as auto cos gear to comply with stricter emission norms

Passenger and commercial vehicle prices are expected to rise as automobile companies invest in upgrading vehicles to meet stricter emission norms that kick in from April next year. The Indian automobile industry is currently working to make their products meet the second phase of Bharat Stage VI, equivalent to Euro-VI emission norms, in real time driving conditions. Four-wheeler passenger and commercial vehicles will need more sophisticated equipment to be added to meet the next level of emission standards. Industry players expect an increase in the overall production cost, which could be passed on to buyers starting next year. Vehicles will need to have an on-board self-diagnostic device to monitor the real time driving emission levels. The device will constantly monitor key parts for meeting emission standards such as the catalytic converter and oxygen sensors, to keep a close watch on emissions. In a scenario wherein the emissions exceed the parameters, the device will indicate

Audi India retail sales up 29% to 2,947 units during Jan-Sept period

German luxury carmaker Audi on Friday reported a 29 per cent growth in retail sales at 2,947 units in the January-September period of this year in India. Audi India had retailed 2,291 units in the same period last year. The growth was driven by the new A8 and Q7, coupled with continued demand for the e-tron range, A4, A6, Q5 and the RS performance range, the company said in a statement. In addition, Audi Approved: plus, the company's pre-owned car business, has grown by 73 per cent in the first nine months of 2022, it added. "Our performance in the first nine months has laid the foundation for a positive performance in the remainder of the year. "Robust growth, despite the semiconductor shortage and global supply-chain issues reiterates the customers' enthusiasm around the brand and our wide product portfolio," Audi India Head Balbir Singh Dhillon said. In the ongoing festive season, the automaker is expecting good growth on the back of sustained demand, he added. The automker n

Kia clocks highest ever monthly sales in India in Sept at 25,857 units

The Korean company said its 2021 domestic sales had been surpassed in the first nine months of 2022

Honda Cars' domestic PV sales jump 29% to 8,714 units in September

The company's product range includes Honda Jazz, Honda Amaze, Honda WR-V, Honda City and Honda City e:HEV

Hyundai's domestic sales increase by 50% to 49,700 units in September

The Korean carmaker sold 33,087 units in the country in September last year

India to outshine regional, global peers this year in car sales: Moody's

Robust car sales during the ongoing festive season amid the easing of chip shortage will help the Indian automobile industry outshine its regional and global peers this year, Moody's Investor Service said on Thursday. Aided by favourable aspects, the car sales volumes this year in the country are expected to increase by 12.5 per cent and another 4 per cent in 2023, it stated. "India remains the bright spot for car sales this year. So far in 2022, sales are steady and we expect a stronger fourth quarter with the onset of the festive season starting at the end of September," as per a note prepared by Moody's Investor Service. A relatively stronger macroeconomic environment, the easing of semiconductor shortages as well as restocking by dealers will help India outperform its regional and global peers, it added. APAC will be the strongest of the major regions in 2022, growing by 3.5 per cent driven by growth in China and India, Moody's Investor Service said. "We forecast 2022 auto sal

Over half of US car sales will be electric by 2030 fuelled by Biden's push

Just over half of passenger cars sold in the US will be electric vehicles by 2030, according to a report from BloombergNEF

Will post highest ever domestic sales in 2022: Hyundai's Tarun Garg

Says product portfolio in line with customer's choice for SUVs, non-committal about sales volume; Hyundai's best show so far was in 2018 at 550,002 units

Tata Motors' total sales rise 36% in August; domestic sales up 41%

Tata Motors on Thursday said its total sales increased by 36 per cent to 78,843 units in August. The auto major had sold 57,995 units in the same month of the previous year. Its total domestic sales increased by 41 cent to 76,479 units in August. The company had dispatched 54,190 units in August 2021. Passenger vehicle sales in the domestic market stood at 47,166 units last month, as against 28,018 units in August 2021, an increase of 68 per cent. Commercial vehicle sales in the domestic market were at 29,313 units last month, as compared to 26,172 units in the same month last year, an increase of 12 per cent, it added.

Kia India retail sales up 33.27% in Aug, helped by consumer sentiment

Company says its performance is a good sign for the Indian automotive market