Toyota India car sales dip 22% in November | WeForNews | Latest News, Blogs Toyota India car sales dip 22% in November – WeForNews | Latest News, Blogs
Connect with us

Auto

Toyota India car sales dip 22% in November

Published

on

Toyota car sales Down

Bengaluru, Dec 2 : Japanese car maker’s joint venture Toyota Kirloskar Motor (TKM) on Monday said it sold 8,312 units in November, registering a 22 per cent annual decline from 10,721 units in the same month a year ago in the domestic market.

“Exports, however, grew 39 per cent annually to 929 units of Etios model last month from 669 units in the like month a year ago,” said the city-based company in a statement here.

As a result, total sales for the month under review declined 19 per cent year-on-year to 9,241 units from 11,390 units in November 2018.

“We have lowered the volume of vehicles to dealers to have lean inventory and adjusted production to ensure we do not burden them before the shift to BS 6 in April 2020,” said TKM deputy Managing Director N. Raja in the statement.

During the festive month of October, the company’s domestic sales declined 6 per cent annually to 11,866 units as against 12,606 units in the same month a year ago as demand spiked during the Dassehra, Danteras and Diwali festivals.

“We are correcting inventory levels to liquidate stocks by December and make a smooth transition to Bharat Standard (BS)-6,” Raja added.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

three × two =

Auto

Auto component industry’s turnover falls over 10% in H1

Published

on

By

Auto sector slowdown

New Delhi, Dec 6 : The slump in vehicle sales adversely impacted the financial performance of India’s auto component manufacturing industry during the period between April and September 2019, industry data showed on Friday.

According to data furnished by the Automotive Component Manufacturers Association of India, the industry turnover during the period under review declined by 10.1 per cent to Rs 1.79 lakh crore ($26.2 billion) over the first half of the previous year.

The industry body cited factors such as subdued vehicle demand, recent investments made for transition from BSIV to BSVI emission norms, liquidity crunch, lack of clarity on policy for electrification of vehicles among others, that adversely impacted the expansion plans of the sector.

However, auto components’ exports grew by 2.7 per cent to Rs 51,397 crore ($7.5 billion) in H1 2019-20 from Rs 50,034 crore ($7.3 billion) in H1 2018-19.

“Europe accounted for 32 per cent of exports followed by North America and Asia, with 30 per cent and 26 per cent respectively,” the association said.

“The key export items included drive transmission and steering, engine components, body or chasis, suspension and braking etc.”

Continue Reading

Auto

Maruti Suzuki to raise vehicle prices from Jan 2020

Published

on

By

Maruti Suzuki

New Delhi, Dec 3 : Automobile major Maruti Suzuki will increase vehicle prices from January 2020.

According to the company, the price increase is necessitated on account of increase in input cost.

Besides, the auto major said the “price increase shall vary for different models”.

“Over the past year, the cost of the company’s vehicles has been impacted adversely due to increase in various input costs,” it said in a regulatory filing.

“Hence, it has become imperative for the Company to pass on some impact of the above additional cost to customers through a price increase across various models in January 2020.”

Continue Reading

Auto

Inventory adjustment, slowdown dent two-wheeler Nov sales

Published

on

By

100cc motorcycle TVS Sport

Mumbai, Dec 3 : Inventory adjustment along with economic slowdown continued to decelerate two-wheeler segment sales in November on a year-on-year basis.

Accordingly, two-wheeler major Hero MotoCorp sold 516,775 units of scooters and motorcycles in November from 610,252 units sold during the corresponding period of last year.

“Hero MotoCorp has scaled up the production of its BS-VI vehicles, while discontinuing the production of several BS-IV models in an effort to migrate completely to the new emission era,” the company said in a statement.

“The company has stopped production of more than 50 variants of its BS-IV range of products while rapidly increasing the production of BS-VI vehicles.”

Another, two-wheeler major Honda Motorcycle & Scooter India’s total sales in November 2019 stood at 396,366 units, down from 418,367 units sold during the corresponding month of the previous year.

Two-and-three wheeler manufacturer, TVS Motor Company registered sales of 266,582 units in November 2019 as against sales of 319,965 units in the corresponding month of last year.

“Shifting of Diwali season to the earlier month and planned adjustment of BS IV stocks is reflecting in the sales growth difference between November 2018 and November 2019,” TVS Motor said in a statement.

On the other hand, Suzuki Motorcycle India reported a rise in its domestic sale to 60,855 units during the month under review from 53,058 units sold in November 2018.

Continue Reading
Advertisement

Most Popular