Tag: Auto industry

Toyota Kirloskar Motor sales rise 21% in January

01/02/2017 13:52

Toyota Kirloskar Motor on Wednesday reported a 21 per cent increase in domestic sales in January at 10,336 units.

The company had sold 8,511 units in the domestic market in January last year, Toyota Kirloskar Motor (TKM) said in a statement.

“Three months into demonetisation and we can slowly see that the market is reviving with increased footfalls and customer enquiries,” TKM Director and Senior VP, Sales and Marketing, N Raja said.

In fact, even with demonetisation in effect, the company still managed to record a 17 per cent growth in sales in the last three months when compared to the same period last year, he added.

“This has been possible due to the overwhelming response the new Fortuner and Innova Crysta have received and we would like to thank our customers for the same,” Raja said.

The company also exported 916 units of the Etios series in January compared to 745 units in the same month last year.

Sensex on firm footing; Auto, Bankex surge

16/09/2016 10:33

The key domestic benchmark indices continued to trade firm during the morning trading session amid firm cues from Asia and overnight gains on Wall Street, after weak US retail sales data dimmed the prospects of a rate hike by the US Federal Reserve at its meeting later this month.

At 10:25 hours, the 30-share benchmark index was trading at 28733.21 up by 320.32 points or by 1.13 per cent, while the NSE Nifty was at 8829.45 up by 86.9 points or by 0.99 per cent.

In the bullish trade so-far, Sensex touched intraday high of 28736.43 and intraday low of 28520.17 The NSE Nifty touched intraday high of 8835 and intraday low of 8780.25

Traders were getting some support with report that Prime Minister Narendra Modi targeting to roll out the ambitious GST on April 1 next year, has directed that all steps required in this direction should be completed before that date. He has also said that GST Council would need to have intensive meetings to be able to make timely recommendations relating to its mandate.

Further, a continued loose monetary policy regime in key developed markets also bolstered capital flows into emerging markets such as Asia’s third biggest economy. While the Bank of England on Thursday kept policy unchanged but signaled scope of a further rate cut in November, the Fed will meet next week to decide whether to hike interest rates, while the Bank of Japan could bolster monetary stimulus and slash its key rate deeper into the negative terrain.

The top gainers of the BSE Sensex pack were Hero MotoCorp Ltd. (Rs. 3624.55,+2.89%), Bajaj Auto Ltd. (Rs. 3013.40,+2.78%), Axis Bank Ltd. (Rs. 603.35,+2.48%), Adani Ports & Special Economic Zone Ltd. (Rs. 273.80,+2.47%), Maruti Suzuki India Ltd. (Rs. 5573.40,+2.39%), among others.

The top losers of the BSE Sensex pack were Housing Development Finance Corporation Ltd. (Rs. 1404.25,-0.34%), Tata Consultancy Services Ltd. (Rs. 2327.50,-0.02%), among others.

Among the sectors, Auto index was at 22731.4 up by 440.95 points or by 1.98%. Motherson Sumi Systems Ltd. (Rs. 322.30,+3.17%), Hero MotoCorp Ltd. (Rs. 3624.55,+2.89%), Bajaj Auto Ltd. (Rs. 3013.40,+2.78%), Maruti Suzuki India Ltd. (Rs. 5573.40,+2.39%), Tata Motors Ltd. (Rs. 566.95,+1.74%),.

In BSE, BSE_Bankex index was at 23109.61 up by 373.48 points or by 1.64%. Punjab National Bank (Rs. 142.60,+2.81%), Axis Bank Ltd. (Rs. 603.35,+2.48%), Bank of Baroda (Rs. 170.50,+2.34%), Federal Bank Ltd. (Rs. 73.15,+2.31%), State Bank of India (Rs. 260.75,+1.94%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2280 , shares advanced were 1628 while 538 shares declined and 114 were unchanged.

Nissan sales jump over two-fold to 5,918 units in Aug

Nissan sales jump over two-fold to 5,918 units in Aug

01/09/2016 16:15

Carmaker Nissan Motor India Ltd today posted over two-fold rise in domestic sales at 5,918 units in August,

The company had sold 2,809 units in the same period of the previous year, it said in a statement.

“This is the third straight month that Nissan Motor has sold over 5,000 vehicles in one month. Our robust performance continued in August thanks to the strong sales of the Datsun redi-GO and its positive reception across India,” Nissan India Operations President Guillaume Sicard said in a statement.

Nissan eyes 5% market share in India by 2020

31/08/2016 16:14

According to media reports, Japanese car giant Nissan is stepping up efforts in its bid to increase its market share in India, one of the world’s biggest automobile markets.

The company is targeting capturing 5 per cent of the Indian car market by 2020, up from currently 2 per cent.

Nissan has already started building a robust sales network in Asia’s third biggest economy as it plans to unleash atleast one product for the Indian market each year.

“We have understood now so we now need to put forth things in practice. I think we are in that intermediate state where we have understood the market and now lot of new things are in pipeline” Nissan India Operations President Guillaume Sicard said, the PTI reported.

The company is set to launch products such as Nissan Xtrail Hybrid, GTR in the country from 2018 onwards.

“The vision is to achieve 5 per cent market share by 2020. So it is something which is definitely possible,” Sicard added, the PTI reported.

The company’s new product pipeline includes some cars from Nissan and Datsun, and some SUVs while it plans to launch new variants of its recently launched hatchback RediGo and Terrano SUV to boost festive season sales.

Auto industry to grow to Rs 20 lakh cr in 10 years: Gadkari

Auto industry to grow to Rs 20 lakh cr in 10 years: Gadkari

30/08/2016 17:12

Automobile industry turnover is poised to grow over four times to Rs 20 lakh crore in 10 years and has the potential to occupy the top slot globally, Union Minister Nitin Gadkari said.

Urging automakers to “not to compromise with quality”, he said innovation and technological upgradation can boost exports.

“Automobile industry, which is of Rs 4.5 lakh crore at present, we will take it to Rs 20 lakh crore in 10 years. It has the potential to become number one in the world,” Road Transport and Highways Minister said while addressing the annual meet of Automobile Component Manufacturers Association of India (ACMA).

He said the industry registered a growth of 8 per cent and accounted for exports to the tune of Rs 70,000 crore.

Urging automakers to go for research and innovation and not to compromise on quality, the minister said, “It is the government’s endeavour to frame such economic policies, which boost employment potential. To enhance employment potential we will have to increase exports. Innovation and research is key to it.”

He said unfortunately, the number of patents registered by India are very low as compared to the US and China which shows “industry’s motivation is less towards research and innovation. Made in India and Make in India is the priority of our government. I will request you to give attention to quality… if not, we will miss out on opportunities.”

To boost automobile exports, he said, the government has initiated a number of steps, including providing facilities to ports for exports besides promoting waterways.

“Our priority is to boost exports. Change your mindset. Western countries pay much attention to quality. We should improve our research and quality,” he said.

The minister said 1,58,000 vehicles were exported from Mumbai Port Trust last year and this year it will be 2 lakh cars.

He said the government was harnessing its 7,500 km of seafront and 20,000 km of waterways that will reduce transportation cost drastically.

Maruti Ciaz achieves 1 lakh cumulative sales feat

Maruti Ciaz achieves 1 lakh cumulative sales feat

07/07/2016 15:37

The country’s leading car maker Maruti Suzuki India is celebrating the success of its mid-sized sedan, Ciaz, which has crossed the one lakh cumulative sales milestone in Asia’s third biggest economy.

Maruti Ciaz which hit the domestic market in October 2014, has sold a total of 100,272 units till June 2016, Maruti Suzuki India said in a press release.

The fast growing popularity of Maruti Ciaz has been attributed to its design and technologically advanced features including a SmartPlay touch screen infotainment system and smart hybrid technology (SHVS). Available in both petrol and diesel options SHVS, Ciaz is also equipped with contemporary safety features such as dual airbags and ABS as an option from the base variant onwards.

Commenting on the milestone, MSI Executive Director, Marketing and Sales, R S Kalsi said “Today, Ciaz is the largest-selling sedan in the A3 segment. It has enabled us to achieve a market share of 40 per cent in the premium sedan segment”, according to a filing in the Bombay Stock Exchange (BSE).

Maruti Ciaz has achieved average monthly sales of more than 5,000 units in the first five months of 2016.

Meanwhile, shares of Maruti Suzuki India fell by 0.70 per cent to trade at Rs 4,141 a piece on the BSE at 15:31 PM IST on Thursday.

Force Motors sells 1,614 units of SCV & LCV in June

Force Motors sells 1,614 units of SCV & LCV in June

05/07/2016 15:40

Force Motors on Tuesday announced in a filing to the Bombay Stock Exchange (BSE) that its output of small commercial vehicles (SCV) and light commercial vehicles (LCV) for the month of June 2016 stood at 1,770 units, while domestic sales of the same were 1,614 units.

It sold a total of 1,035 units of utility vehicles, sports utility vehicles and tractors in June 2016 in the domestic market.

Meanwhile, exports of SCV and LCV stood at 304 units last month.

Shares of Force Motors surged by 3.31 per cent to trade at Rs 3,125 apiece on the BSE as at 15:32 PM IST as traders gave thumbs up to the company’s June production and sales numbers.

Bajaj Auto sales dip 5% in June 2016

Bajaj Auto sales dip 5% in June 2016

04/07/2016 12:31

Bajaj Auto, the flagship of Bajaj group of companies has reported 4 per cent decline in total sales in June at 3,16,969 units.

The company had registered sale of 3,31,317 units in the same month of 2015, it said in a filing to the Bombay Stock Exchange.

Motorcycle sales during the month fell 5 per cent to 2,73,298 units from 2,87,582 in June last year, the company said in a BSE filing.

Bajaj Auto’s commercial vehicles sales during the month remained flat at 43,671 units compared with 43,735 in the year-ago period.

Exports in June this year were at 1,23,252 units against 1,56,074 a year earlier, down 21 per cent.

Meanwhile, shares of the company were trading at Rs 2662.35 apiece, up 0.25 per cent from the previous close at 12:28 hours on BSE.

Mahindra launches electric version of Verito sedan ‘eVerito’Mahindra launches electric version of Verito sedan ‘eVerito’

Mahindra launches electric version of Verito sedan ‘eVerito’Mahindra launches electric version of Verito sedan ‘eVerito’

03/06/2016 13:05

Homegrown auto major Mahindra & Mahindra Ltd (M&M) said that Mahindra Group’s electric mobility division, Mahindra Electric, has launched electric version of Verito sedan called ‘eVerito’, priced at Rs 9.5 lakh (ex-showroom Delhi).

In a filing to the Bombay Stock Exchange, the company said, “Mahindra launches eVerito, India’s 1st zero-emission, all-electric Sedan.”

This new car, which would be available in three variants, is priced at Rs 9.5 lakh, Rs 9.75 lakh and Rs 10 lakh. It can be charged in 1.45 hours and has a range of 110 kms.

Commenting on the launch, M&M, President and Chief (Automotive), Pravin Shah said, “eVerito is the first electric sedan in our portfolio. With issues like environmental degradation, pollution-related challenges, climate change and energy security there has never been a better time to switch to electric vehicles.”

The electric vehicle segment is poised for growth and the company would be introducing more models in the electric vehicle segment, he added.

“We will be adding more and more products across different segments to cater to various customer demands,” Shah said.

Bring more electric vehicles is a part of the company’s overall global product strategy, he said.

“One more product would be introduced soon in the e-vehicle portfolio,” Shah said without elaborating further.

He further said: “Going forward, we have laid out a clear roadmap for the electrification of our range.”

On the roll-out plan for eVerito, Shah said, “The vehicle would be first available in Delhi followed by introduction in other cities like Mumbai, Bengaluru , Hyderabad , Chandigarh , Pune , Jaipur and Nagpur.”

Meanwhile, shares of the company were trading at Rs 1,352.55 apiece, up 1.49 per cent, from previous close on BSE at 13:03 hours.

Yamaha 2-wheeler sales surge 36% in May 2016

Yamaha 2-wheeler sales surge 36% in May 2016

02/06/2016 16:49

India Yamaha Motor announced that it has posted a 36 per cent jump in domestic sales to 62,748 units in May 2016 as compared to 46,084 units in the same month a year ago.

India Yamaha Motor said in a statement, “The company continues to maintain an upward trend in sales on the back of its superb product line-up with the addition of the newly launched commuter bike Saluto RX and scooter Cygnus Ray-ZR.”

It added, “Yamaha’s increasing focus on expanding in Tier II and III cities, thus reaching out to larger groups of target population, has also been instrumental in boosting sales.”