Passenger vehicle sales in Q3 lowest in 5 years amid chip shortage
PV sales dropped 15% to 7,61,124 units in the third quarter, their lowest level in five years, says the Society of Indian Automobile Manufacturers (SIAM).
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Scrappage policy good for auto industry and buyers
But since it is voluntary in nature, it will require strong enforcement from state governments to ensure that its objectives are met.
BMW taps new customers in a bid to go past Mercedes
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.
Passenger vehicle sales to fall in FY21: ICRA
The ratings agency said that the passenger vehicle segment's FY21 volumes are expected to see a drop, as it is tied to GDP and overall consumer sentiment, both of which are at historic lows.
Auto retail sales grow 4% in October
Pushed by festive season offers, passenger vehicles showed the biggest growth: 11%. It grew from 223,498 units last year to 248,036.
Sales of passenger vehicles rise marginally in October
Total industry sales, however, fell nearly 13%, according to SIAM data.
Ford hitches a ride with M&M in India
Mahindra and Mahindra will pick up majority stake in a JV with Ford, manage the American carmaker’s operations in India, and collaborate on new cars and business in emerging markets.
By 2030, half of new sales will be natural gas vehicles
A study by the institute says the number of natural gas vehicles in India is expected to shoot up to 33 million by 2030 from 3.3 million in 2019—a 900% rise.
Passenger vehicle sales decline in December
SIAM says global factors such as a slow-growing world economy and the ongoing trade war between the U.S. and China will pose a major challenge to India’s automobile industry.
Passenger vehicle sales fall 3.43% in November
According to SIAM, low consumer sentiments and tight liquidity drove down vehicle sales in November.
