Carmakers calibrate dispatches amid inventory pile-up at dealerships
The passenger vehicle industry is estimated to have clocked wholesales of 350,000-355,000 units in August
The passenger vehicle industry is estimated to have clocked wholesales of 350,000-355,000 units in August
Passenger vehicle sales India's largest carmaker declined 9.6% year-on-year to 137,463 units in July 2024.
Tata Motors and Hyundai Motor India, the country's second-largest carmaker, saw a decline in total sales in June 2024.
The scheme to promote manufacturing of electric passenger cars in India will intensify competition in the industry, says Hyundai Motor India in its DRHP ahead of IPO.
The IPO will see Hyundai Motor India’s South Korean parent dilute its stake.
The company's exports in January declined by 13.7% YoY to 10,500 units, whereas February exports plummeted by 5% to 10,300 units, according to SIAM data.
Massive demand at the lower end of the market means the segment is key to government meeting its target of 30% electric car penetration.
The country's second-largest carmaker has committed to invest ₹6,000 crore in Maharashtra.
Maruti Suzuki sees highest-ever monthly sales volume at 199,217 units; Mahindra records highest-ever SUV sales growth at 36%
Hyundai Motor India says it has also received a 5-star safety rating for the Hyundai Verna from Global NCAP