Exports of passenger vehicle drop 1.51%; two-wheelers up 20% in FY18
The Dollar Business Bureau With focus of the industry shifting towards domestic market and lasting impact of GST refunds on exporters, the passenger vehicle exports from India dropped by 1.51% in 2017-18, witnessing a dip for the first time in the past seven years. In 2017-18 fiscal, 7.47 lakh units of passenger vehicles were exported as against 7.58 lakh units in the previous fiscal, as per the Society of Indian Automobile Manufacturers (SIAM). “This is the first decline in exports of passenger vehicles since 2010-11 when it declined 0.41%,” said Sugato Sen, Deputy Director General, SIAM. Citing the the reasons behind the decline in passenger vehicles export, Sen said that some key exporters have shifted their focus on the domestic market. In addition, the exporters ...
Maruti Suzuki becomes Indias top exporter of passenger cars
The Dollar Business Bureau Most popular car manufacturer in India, Maruti Suzuki India Ltd has become the largest exporter of passenger cars from the country in the first half of the current fiscal, replacing Hyundai Motor India Ltd. During the period April-September of the ongoing fiscal, Maruti Suzuki shipped 57,300 units of passenger cars, an increase of 6% compared to 54,008 units exported in the same period a year earlier, as per the recent data by apex industry body Society of Indian Automobile Manufacturers (SIAM). The number one exporter for a long time, Hyundai Motor India Ltd exported 44,585 units of passenger cars, witnessing a steep drop of 29.25% compared to 63,014 units shipped in the same period a year ago. The company ...
India to see sales of 30.81 mn electric vehicles by 2040: Amitabh Kant
The Dollar Business Bureau NITI Aayog Chief Executive Officer (CEO) Amitabh Kant said on Thursday that the strong push by the Government towards e-mobility is targeted towards making India an export hub for electric vehicles. “The vehicle penetration in the country is the lowest among the developing countries. At present, India has 20 cars per 1,000 people whereas the US has 800 cars,” Kant said while addressing the 57th Annual Convention of SIAM in New Delhi. “Other countries will have the problem to make the switch to electric but India has the advantage to become the leader because of its low penetration levels. We must make India the export hub for electric vehicles,” he said. He also said that the country may be slow ...
Auto sales fall almost 19% in Dec due to demonetisation
The Dollar Business Bureau Prime Minister Narendra Modi’s demonetisation drive has considerably impacted India’s automobile sector growth in December, as total vehicle sales in India fell by its sharpest in 16 years, by 18.66%. According to the industry analysts, the demonetisation initiative has generated weak sentiments amongst the domestic consumers, resulting in the industry’s weakest automobile sales since December 2000. Last month, automakers sold 12,21,929 vehicles, comprising of passenger and commercial vehicles as well as two and three-wheelers. In December 2000, total automobile sales were down 21.81%, according to data released by the Society of Indian Automobile Manufacturers. The only vehicle segment that registered a positive growth in December was light commercial vehicles (LCVs), which grew 1.15%, said Vishnu Mathur, Director General, SIAM. ...
Renault plans multiple product launches till 2021 in India
The Dollar Business Bureau French automobile manufacturer Renault plans to introduce at least one new vehicle every year in the Indian market till 2021, comprising vehicles in the high selling sub-four metre division, even as the company aims to cross 5% market share in the local passenger vehicle segment by the year-end. “We plan to launch at least one new product every year, over the next five years, beginning with some exciting product innovations starting this year,” Sumit Sawhney, Managing Director Operations Country CEO of Renault India told PTI. The French auto major will keep launching ‘game changing products’ in India as it has been doing over the last few years, he said. Currently, Renault sells five models in the domestic market including hatchback Kwid and SUV Duster. “India ...
Demonetisation halts auto sector growth, sales decline in Nov
The Dollar Business Bureau The demonetisation has affected almost every sector in the country. The rapidly-growing automobile sector in India has witnessed a drop of around 5% in the month of November, the first in this year. All the vehicle segments posted a decline, be it commercial vehicles, two-wheelers, or three-wheelers. This was the sharpest decline in the past 3.5 years. The sector had last witnessed a drop of 7.75% in March 2013. However, in December 2015, the sector posted a drop, when the volumes declined by just 0.17%. According to the data by Society of Indian Automobile Manufacturers (SIAM), around 1.56 million units of vehicles were sold in the local market in November, a drop of 5.48% compared to 1.65 million units in the same ...
Domestic passenger vehicle sales up 4.48% in October
The Dollar Business Bureau The passenger vehicle sales in the domestic market increased by 4.48% to 2,80,677 units in the month of October this year from 2,68,630 units in the same month in 2015. Domestic car sales were slightly increased to 1,95,036 units in October 2016 compared to 1,94,158 units in the same month last year, as per the data released by the apex Industry body, Society of Indian Automobile Manufacturers (SIAM). The sales of motorcycle last month rose by 7.37% to 11,44,516 units compared to 10,65,925 units in the previous year. Overall sales of two-wheeler in October grew 8.72% to 18,00,672 units against the 16,56,304 units in the corresponding month a year ago. Commercial vehicles sales were increased by 11.9% to 65,569 units in ...
Car sales up 9.53%, passenger vehicles up 16.68% in Aug: SIAM
The Dollar Business Bureau Things seem to be looking good for the automobile industry in India. The Society of Indian Manufacturers (SIAM) released optimistic growth figures of car and passenger vehicles sales in August. According to SIAM, Domestic passenger vehicle sales grew 16.68% to 2,58,722 units in August from 2,21,743 units in the same month last year. Car sales were also up by 9.53% to 1,77,829 units as against 1,62,360 units in August last year. Motorcycle sales also jumped last month by 22.19% to 10,05,666 units as against 8,23,051 units a year before. In all the two wheeler segment sales in August grew 26.32% to 16,48,883 units compared with 13,05,248 units in the same month a year ago. The sales of commercial vehicles rose by 1.53% ...
