The company is comfortable with its current inventory level, which is around six weeks
High raw material prices and semiconductor shortage puts recovery in doubt for companies' plans
Commercial vehicle sales in the domestic market, however, grew by 13 per cent to 8,944 units compared to 7,901 units in the same month last year, Bajaj Auto said
Overseas shipments by volume of scooters and motorbikes hit the highest since FY16
SIAM President Kenichi Ayukawa noted that despite some recovery from a low base, sales of all four segments of the auto industry were below even the 2018-19 level
Domestic sales were also down 31.57 per cent at 3,31,462 units last month compared to 4,84,433 units in February 2021
The company had reported sales of 69,659 units in the same month last year
TVS had posted a total sales of 2,97,747 units in the same month last year, the company said in a statement
'Three consecutive years of decline will take two-wheeler sale volumes back to the fiscal 2014 level and it may take 3-4 years to reclaim the peak sales volume of 2.11 crore seen in 2019'
The key exports include the TVS Apache series, TVS HLX series, TVS Raider, and TVS Neo series.
The low year-on-year sales volume in January highlights the adverse impact of price hikes, fuel inflation, and Omicron-related concerns on consumer sentiments, says ICRA
The sales of two-wheelers plunged to lowest in nine years in 2021. Does the trend reflect the declining purchasing power of people in the middle and lower-income groups? Let's find out
YTD fiscal year sales plunge to the lowest in nine years, January remains muted
The 164.9-cc motorcycle generates 19.2 PS power and will be limited to 200 units
The new low-speed two-wheelers can run up to 25km/hour with a mileage of 70-100 Km
The Indian arm of the Japanese two-wheeler had sold a total 4,33,207 units, including exports, in November 2020, the company said
Domestic two-wheeler (2W) volume is expected to shrink by 1-4 per cent year-on-year this fiscal, impacted by relentless increase in 2W prices as well as record high petrol cost, ICRA has said
Darwin Platform Group of Companies (DPGC) on Monday announced its foray into the electric mobility space with plans to invest nearly Rs 450 crore on product development. As part of the initiative, the group's EV venture Darwin EVAT launched three electric scooters -- D-5, D- 7 and D-14 -- priced at Rs 68,000, Rs 73,000 and Rs 77,000, respectively. "Global automotive industry is in a transition phase and shifting towards electric mobility and in India, this transition has started to pick up pace. Darwin EVAT aims to contribute more to this electric revolution," DPGC Group CEO Raja Roy Choudhury said in a statement. Commenting on the group's plans for the EV venture, DPGC Director & Head Automobile Business Saurabh Mohan Saxena said, "The company and group would initially invest nearly Rs 450 crore in this transformation and is taking a comprehensive approach, ranging from research and development to production of green vehicles, which also includes strategic collaborations and ...
The company also said that it is looking to set up another plant, in South India, considering the potential of the domestic market
The company is targeting an annual revenue run rate of $3 billion in two years