
Car sales shoot up despite rise in petrol prices
Auto retail sales in February are showing signs of recovery with automakers reporting rise in sales, although petrol prices have crossed ₹100 per litre. Reason: the shift towards personal mobility.
Auto retail sales in February are showing signs of recovery with automakers reporting rise in sales, although petrol prices have crossed ₹100 per litre. Reason: the shift towards personal mobility.
Safety and affordability concerns among commuters have given a fillip to shared mobility, with subscription-based models gaining traction. Will the industry realise the true potential of these models?
The German auto major sees a significant contribution of over 50% coming from the locally produced sports utility vehicle range including the X1, the X3, and the X5.
In a candid chat with Fortune India, Zoomcar's co-founder and CEO talks about the booming car rental industry, and how the company is looking to exploit the opportunities thrown up by the pandemic.
The extension, which takes the total day-count of the lockdown to 54, will add to the challenges that the economy was already facing before Covid-19 took the shape of a pandemic.
The growth largely came on the back of two-wheeler sales. The industry sold 152,000 two-wheelers, 3,400 cars, and 600 buses.
Though an uptick in demand is expected in the October-November festive season, experts do not see an immediate revival for the sector.
Overall sales of the auto industry, which has been facing headwinds for more than a year, fell 12.34% to 1,997,952 units in June from 2,279,186 units a year ago.
Passenger cars—the largest segment by volumes—were the worst hit. Sales fell 19.93% to 160, 279 units in April from 200,183 a year ago.
The country’s largest carmaker announces a dividend of ₹80 per share and says it will phase out diesel cars from April next year.