The company reported total sales of 2,15,034 vehicles, reflecting a 12 per cent decline compared to 2,43,024 units sold during the same period last year. The drop in sales was attributed to underperformance in both the commercial vehicle (CV) and passenger vehicle (PV) segments.
Total passenger vehicle sales in India declined 1.8 per cent in August to 352,921 units, as against 359,228 units same month last year, data released by the Society of Indian Automobile Manufacturers (SIAM) showed on Friday.
India's two-wheeler demand, which lagged behind passenger vehicles during FY21-23 due to the impact of the COVID-19 pandemic and rising regulatory costs, is now experiencing a resurgence.
India's auto retail sales experienced a significant decline in August 2024, primarily due to excessive rainfall during this monsoon season, according to a report by the Federation of Automobile Dealers Associations (FADA).
The domestic passenger vehicle industry volumes declined by low single digit in August 2024 as compared with August 2023, Kotak Institutional Equities says it is because of weak retail demand trends and higher inventory levels at the dealerships.
Maruti Suzuki has reported a 3.9 per cent decline in its total vehicle sales for August 2024, as per the filing by the company with the stock exchange on Sunday.
The total domestic Passenger Vehicles (PVs) sales have witnessed a decline of 2.5 per cent in July 2024, as compared to the same period last year 2023, according to the data released by Society of Indian Automobile Manufacturers (SIAM) on Wednesday.
The passenger vehicle sales in the month of July stood at 3,41,510 units, highlighting the sales data released by the Society of Indian Automobile Manufacturers (SIAM) on Wednesday.
Tata Motors one of the major automobile manufacturers in India, unveiled its new electric vehicle 'Tata Curve' on Wednesday at an official launch event in Mumbai.
Retail automobile sales in India saw double-digit yearly growth in July, with almost all vehicle categories witnessing an increase. To be precise, the sales jumped 13.84 per cent during the month.
Excluding Honda, the growth remains robust at around 14 per cent. Additionally, passenger vehicle (PV) volumes are likely to have increased, supported by improved retail activity and inventory accumulation.
The hybrid vehicles in India including CNG and other alternative vehicles will be more successful in the medium term as compared to the electric vehicles, highlights a report by UBS, an investment banking firm.