After a year of pent-up demand and record volumes, India’s passenger vehicle sales growth is likely to moderate in the calendar year 2024 and financial year 2024-2025. A high-volume base along with weakness in the demand for small cars, and higher borrowing costs are expected to reduce the pace of growth in 2024. The domestic… Continue reading Automakers expect PV industry growth rate to moderate in 2024
Tag: Suzuki
Exclusive: Maruti Suzuki plots two new SUVs to further increase market share
Having grabbed the SUV leadership in the ongoing FY2024 despite being late in the game, Maruti Suzuki India is looking to aggressively fill the key gaps in its portfolio. The company, which currently has a 25% share in the utility vehicle market, plans to introduce an A-SUV as an alternative to entry hatchback buyers and… Continue reading Exclusive: Maruti Suzuki plots two new SUVs to further increase market share
Maruti Suzuki sees headroom for strong SUV sales growth till 54-55% penetration
India’s largest car maker Maruti Suzuki expects the sport utility vehicle segment to continue outpacing the passenger vehicle market growth and says there is headroom for strong growth till the segment’s share in overall passenger vehicles reaches the 54-55% mark. Currently, sports utility vehicles account for 48.7% of the total passenger vehicle sales. “It (SUV… Continue reading Maruti Suzuki sees headroom for strong SUV sales growth till 54-55% penetration
The five new SUVs lined up for January 2024
We have a bunch of new SUV launches lined up this month at both ends of the price spectrum to kick things off in 2024. At the top-end, Mercedes-Benz will be launching the new GLS facelift while at the other end, the compact SUV class will see updates to the Mahindra XUV300 and Kia Sonet. The Hyundai Creta – a crowd favourite… Continue reading The five new SUVs lined up for January 2024
Govt extends tenure of automobile, component PLI scheme by 1 year to FY28
The government today said it has amended the production-linked incentive scheme for automobile and auto components to extend the scheme’s tenure by one year to March 31, 2028. The Rs 25,938 crore output-linked incentive scheme aims to boost domestic manufacturing of advanced automotive technology products and attract investments in the automotive manufacturing value chain. Initially,… Continue reading Govt extends tenure of automobile, component PLI scheme by 1 year to FY28
Honda Cars India registers 12% growth with 7,902 units in domestic sales during December’23
Honda Cars India Ltd. (HCIL) registered domestic sales of 7,902 units with a growth of 12% and exports of 3,749 units with a growth of 170% during Dec’23 in comparison to same period in previous year. The company had registered 7,062 units in domestic sales and exported 1,388 units in Dec’22. Yuichi Murata, Director, Marketing… Continue reading Honda Cars India registers 12% growth with 7,902 units in domestic sales during December’23
Honda Cars India registers 12% growth with 7,902 units in domestic sales during December’23
Honda Cars India Ltd. (HCIL) registered domestic sales of 7,902 units with a growth of 12% and exports of 3,749 units with a growth of 170% during Dec’23 in comparison to same period in previous year. The company had registered 7,062 units in domestic sales and exported 1,388 units in Dec’22. Yuichi Murata, Director, Marketing… Continue reading Honda Cars India registers 12% growth with 7,902 units in domestic sales during December’23
Maruti Suzuki December 2023 despatches down by 6.5% in a stock-correction move
Maruti Suzuki India (MSIL) reported sales of 104,778 units in December 2023, registering a 6.5 percent Year-on-Year (YoY) decline over December 2022’s volume of 112,010 units. The company’s entry-level Alto and S-Presso models continued to be distressed, with volumes plummeting to a mere 2,557 units (December 2022: 9,765), and registered a YoY de-growth of almost… Continue reading Maruti Suzuki December 2023 despatches down by 6.5% in a stock-correction move
Maruti Suzuki sells 1.7 million vehicles in CY2023, SUVs and MPVs record 68% growth
India’s passenger vehicle market leader has sold a total of 17,07,668 units in the domestic market CY2023, which makes for 8.35% year-on-year growth (CY2022: 15,76,025 units). This India total, when added with sales of 35,012 units of the Super Carry LCV, sales to other OEM (Toyota Kirloskar Motor / 54,493 units) and highest-ever annual exports… Continue reading Maruti Suzuki sells 1.7 million vehicles in CY2023, SUVs and MPVs record 68% growth
Toyota Kirloskar Motor registers best-ever annual sales in CY2023: 221,356 units
Toyota Kirloskar Motor (TKM) has reported domestic market sales of 221,356 units, up 38% YoY (CY2022: 160,364 units). This is the car and SUV manufacturer’s best-ever annual sales performance. The company’s strong performance has been helped by the enhanced production capacity through three-shift operations, which has enabled TKM to meet sustained market demand for its passenger… Continue reading Toyota Kirloskar Motor registers best-ever annual sales in CY2023: 221,356 units