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Monthly analysis presents a decline of 5% in retail sales from June 2023 with the 3W segment being the only exception, which grew by 9%, while categories like 2W, PV and tractors registered decline of 6%, 4% and 8%, respectively
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According to Hero Motocorp, “The incessant rains and the floods caused crop damage in several states. It resulted in sharp decline in customer footfalls at the dealerships.”
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Tata Motors sold more passenger vehicles (PVs) in July, 2023, than, its counterpart Hyundai Motor India.
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In the last three years, two wheeler prices have gone up by 30 per cent to 40 per cent in India, said, Bajaj Auto, ED, Rakesh Sharma
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TVS Motor doesn’t plan to cut prices of e-scooter, TVS iQube Electric. Rather, the home grown two wheeler manufacturer would focus on premiumisation of products.
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The Centre is now contemplating steps to penalise about half a dozen companies that manufacture electric two-wheelers that were hauled up for claiming subsidies originally designed to encourage the adoption of electric vehicles
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Leasing a car makes life easier for the customer as he does not have to bother about the service and maintenance of the vehicle
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April and May have already given the industry a taste of the things that might unfold in the road ahead with sales figures that registered a growth of 16%
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In May, sales picked up some pace as retail sales grew 10%. Two-wheeler sales went up 9%, three-wheeler sales zoomed 79%. Meanwhile, Passenger vehicles had modest growth of 7% and CV also showed a similar trend by growing 7%.
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There is a sizable difference between the cost of a petrol-diesel car and an EV. For purchasing an EV, one has to pay almost double the amount of money.
