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Steepest dip in 8 years: Passenger vehicle sales slip 17% in April
Sales of passenger vehicles fell to 247,541 in April as against 298,504 a year earlier, data released by the Society of Indian Automobile Manufacturers (Siam) on Monday showed. Two-wheeler sales dropped 16.4 per cent to about 1.6 million vehicles.
Two-wheeler demand muted amid price hike due to new safety norms, high inventory
Analysts said purchase deferrals due to elections and high inventory with dealers led to weakness in wholesales volumes. Besides, price hikes due to new safety norms from April 1 weakened demand.
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High prices, liquidity crunch slow passenger vehicle sales growth to 2.7% in FY19
Despite new launches, sales failed to revv up during H2 of FY19, which had prompted SIAM to lower sales forecast.
Auto majors post muted passenger vehicle sales growth last fiscal
MSI, the country’s largest carmaker, sold a total of 18,62,449 units in 2018-19, its highest ever sales in a year. It, however, posted a growth of only 4.7 per cent from 17,79,574 units in 2017-18.
Weak buyer sentiment continues to hurt car sales
The two biggest passenger vehicle manufacturers in India Maruti Suzuki India (MSIL) and Hyundai Motors India (HMIL) posted a low 1 per cent and 4.8 per cent growth respectively in domestic sales during the month.
Cars to cost more in 2019 as they become BS VI-compliant
Depending on the engine capacity, the cost of diesel cars could be significantly higher by anywhere between Rs 1 lakh and Rs 2.5 lakh. Initial estimates show customers will need to pay somewhere around Rs 25,000-60,000 more for petrol cars.
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Vehicle loans: Low auto sales slow down festive demand at banks
According to dealers, sales during the Navratri period has been down by 10-20% this year. Sales have been dented by the new third-party insurance norms as well as the rise in fuel prices.
Weak consumer sentiment: No festive cheer for carmakers on rising fuel cost, interest rates
Industry players say that the investment and consumer sentiment are at a low and are hurting vehicle sales in the market.
Dull Diwali for auto sales
One big reason for the poor consumer sentiment is the crash in the stock markets and this has hit urban demand badly.
Hiring in auto sector to slow down, new skills needed: Report
The auto industry has been one of the top robot-buying industries for years, and this trend is expected to continue, it said.
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Cars To Become Expensive, How Will Budget 2016 Impact The Auto Sector
In his budget 2016 speech, the Finance Minster announced 1 per cent infra cess on all cars and an additional 2.5 per cent tax on diesel cars of all capacities. There’s an additional 1 percent tax on luxury cars and 4 per cent on SUVs.
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