
May auto sales: From Maruti to Kia, here's how automakers performed
Maruti Suzuki, the country's largest carmaker, reported a 10.3% year-on-year (YoY) surge in its sales to 1,78,083 units as against 1,61,413 units in the same period last year.
Maruti Suzuki, the country's largest carmaker, reported a 10.3% year-on-year (YoY) surge in its sales to 1,78,083 units as against 1,61,413 units in the same period last year.
Since the business started in 2016, Ahmad Nabil has built strong relationships with some of the world's most popular and influential people.
MG Gloster Blackstorm is powered by the BS-VI 2.0-litre diesel engine, including a first-in-segment twin-turbo diesel engine that delivers 158.5 kW of power.
The company continued to retain the top position in the SUV segment for the 5th consecutive quarter, with a market share of 19.6%.
The increase in passenger vehicle sales has been attributed to a smooth transition to BS VI Phase I emission norms from April 1.
While share prices of leading automobile manufacturers such as Maruti Suzuki, Tata Motors and Mahindra and Mahindra surged as much as 3.5% on Monday, the Nifty Auto index surged 1.53% to 12,430.90.
The rating agency expects operating margins of auto ancillaries to improve by 100-150 basis points (bps) year-on-year (YoY) in FY24, thus returning to pre-covid-19 levels of 11-11.5%.
According to the company, the decision has been necessitated mainly due to cost increases on account of the "OBD 2 transition."
The decision has been taken in line with the company’s efforts to comply with the move to more stringent BS6 Phase II emission norms.
Between April 2022 and February 2023, passenger vehicle sales stood at 34,61,716 units, whereas the production stood at 40,76,780 units.