Maruti Suzuki November sales up 12% at 1.35 lakh units
Maruti Suzuki India Limited, leader in passenger vehicles, sold a total of 135,550 units in November 2016, growing 12.2% over the same period of last fiscal. This includes 126,325 units in the domestic market and 9,225 units of exports. The company had sold a total of 120,824 units in November 2015. Read More
Hero MotoCorp clocks 479,856 unit sales in November
Hero MotoCorp Ltd., the world’s largest two-wheeler manufacturer, today reported sales of 479,856 units in the month of November 2016. Hero MotoCorp, which posted record festive sales this year, saw a drop in retail sales after the demonetisation initiative when the entire industry also witnessed decline in sales. With the slew of measures being implemented by the government, and several initiatives immediately undertaken by Hero MotoCorp to support its dealers and consumers, the Company expects the situation to steadily improve. In the month of November, the Company showcased the Dawn 125 motorcycle at the EICMA Motorcycle Show in Milan. As part of Hero MotoCorp’s market-specific product strategy, the Dawn 125 motorcycle has been developed specifically for the Africa region. Read More
Bajaj Auto Nov auto sales at 2.69 lakh units, down 13%
Bajaj Auto has registered a decline of 13% in total sales to 2,69,948 units in November 2016 against 3,09,673 units in November 2015. The sales of the motorcycles decreased by 12% and stood at 2,37,757 units in the month under review against 2,70,886 units in November 2015. The company has reported 17% fall in Commercial Vehicles sales, which stood at 32,191 units as compared to 38,787 units in month of November 2015. The company’s total exports stood at 1,15,425 units as compared to 1,37315 units sold in the corresponding month last year. Read More
TVS Motor Company clocks 224,971 units in November 2016
TVS Motor Company posted sales of 224,971 during the month of November 2016, as against 225,401 units registered in the month of November 2015. Due to the demonetisation exercise, the Company witnessed a short-term impact on November sales. However, we are seeing a sales pickup already happening and we believe, it is a very good move for the country in the long term. Read More
Mahindra’s auto sector sells 32,499 vehicles during November 2016
Mahindra & Mahindra Ltd. (M&M Ltd.), India's leading SUV manufacturer, announced its auto sales performance for November 2016 which stood at 32,499 vehicles compared to 41,590 vehicles during November 2015. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 13,217 vehicles in November 2016 as against 19,662 vehicles during November 2015. The company's domestic sales stood at 29,814 vehicles during November 2016, as against 39,383 vehicles during November 2015. Read More
Ashok Leyland total sales at 9,574 units, up 7%
Commercial vehicle major Ashok Leyland Ltd has registered 7% growth in total sales at 9,574 units during November, 2016 as against 9,574 units during the same month last year. The company today announced the sales of Medium and Heavy Commercial Vehicles (M&HCV) reported a growth of 10% at 6,928 units in November, this year compared to 6,297 units during November last year. The Light Commercial Vehicle (LCV) sales has experienced an decrease of 1%, to 2,646 units during November, 2016, from 2,674 units in November, 2015. Read More
News In focus
Indian ABS buffers cover near-term demonetisation impact: Fitch
Fitch Ratings believes that demonetisation could lead to a short-term liquidity stress in Indian auto ABS transactions. The stress is likely to be limited to a few months, in which case it would not result in pressure on ratings. India began to withdraw high-denomination bank notes - that account for 86% of the value of currency in circulation - earlier this month. The withdrawal has created a cash crunch that Fitch expects to hold back economic activity in the near term.
Fitch expects a liquidity squeeze in Indian auto ABS to result from a substantial drop in collections from small commercial vehicle (CV) operators - especially used-CV operators - in November and December. Cash collections typically account for 20-50% of total collections by Indian CV loan originators within Fitch-rated ABS transactions. The cash-collection percentage is especially high on loans for used CVs, as well as for new small CVs, light CVs and tractors. Smaller CV operators usually receive their income and pay expenses in cash. We expect the cash crunch caused by demonetisation to affect both the income of these borrowers and their repayment capabilities in the short term, due to the delaying of non-critical economic activities by their customers. Read More
Bharat Forge completes acquisition of Walker Forge Tennessee, PMT Holdings
Bharat Forge has completed acquisition of Walker Forge Tennessee LLC and PMT Holdings Inc., USA through its wholly-owned subsidiary, Bharat Forge America Inc., USA, on December 1, 2016, for a total consideration of $14 million. With the completion of this transaction, both Walker Forge Tennessee LLC and PMT Holdings Inc., USA have become indirect subsidiaries of Bharat Forge with effect from December 1, 2016. Walker Forge Tennessee LLC has been renamed as Bharat Forge PMT Technologie LLC and PMT Holding Inc. has been renamed as Bharat Forge Tennessee Inc. Read More
Honda 2 Wheeler hedges demonetisation impact in November
The two-wheeler industry faced a challenging November with demonetisation impacting demand in the lean month after the festive high ending October 2016. However, bucking the overall -5% de-growth in the industry. Honda 2 Wheelerssuccessfully closed the month with steady sales of 325,448 units. Elaborating more on the macro picture in the month of November 2016, Y.S. Guleria, Senior Vice President – Sales and Marketing, Honda Motorcycle and Scooter India Pvt. Ltd., said, “Compared to festival buying in November last year, this year the industry was prepared for an organic correction in November. However, demonetization announcement took everyone with surprize. Two-wheeler sales dropped by 50% in the first 3-4 days of announcement. But recovery started week 2 and by the end of month, Honda’s all India sales returned to almost 80% of normal level with South, West and East leading the recovery." Read More
VE Commercial Vehicles sells 3176 units in November 2016
VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) has sold 3176 units in November 2016 as compared to 3639 units in November 2015 recording a decline of 12.7%. However, on YTD basis, we continue to have a handsome growth of 18.5% with YTD sales of 37215 units as against last year YTD of 31409 units. This month 3176 units includes 3067 units of Eicher brand and 109 units of Volvo brand. Read More
Steel Strips Wheels zooms after November auto sales
Steel Strips Wheels Ltd is currently trading at Rs 631.95, up by Rs 86.05 or 15.76% from its previous closing of Rs 545.9 on the BSE. Passenger car segment grew 22% in November 2016 YoY. The company saw a turnover growth of 22% for the month of November led by a strong performance in the tractor and the commercial vehicle segment. While total wheel-rim sales grew 14% in the year-on-year period, a high base in the previous year led to the export segment seeing a degrowth of 24 percent this month. Read More
Tata Motors sales flat at 38,900 in November
Tata Motors passenger and commercial vehicle total sales (including exports) in November 2016 were at 38,900 vehicles, flat over 38,918 vehicles sold in November 2015. The company’s domestic sales of Tata commercial and passenger vehicles for November 2016 was at 33,274 nos., a decline of 6%, over November 2015. Cumulative sales (including exports) of the company for the fiscal was at 3,50,549 nos., higher by 8% over 3,24,966 vehicles, sold last year. Read More
Mahindra Tractors sells 15,918 units in India during November 2016
Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES), a part of the US$17.8bn Mahindra Group, announced its tractor sales numbers for November 2016. Domestic sales in November 2016 were at 15,918 units, as against 20,819 units during November 2015. Total tractor sales (domestic+ exports) during November 2016 were at 17,262 units, as against 21,717 units for the same period last year. Exports for the month stood at 1,344 units. Read More
Escorts Agri Machinery volumes up 2% in November
Escorts Ltd Agri Machinery Segment (EAM) in November 2016 sold 4,806 tractors with a growth of 2.1% against 4,706 tractors in November 2015. The domestic tractor sales for the month of November 2016 was 4,698 tractors against 4,691 tractors in November 2015. Exports for the month of November 2016 was up by 620 percent at 108 tractors against 15 tractors in November 2015. Read More
Atul Auto November auto sales decline 14%
Atul Auto has reported a sale of 3,450 units, showing a fall of 14% for the month of November 2016 as compared to 4,005 units sold in November 2015. The company’s total sales for the April-November 2016 stood at 27,854 units, declined by 5% as compared to 29,367 units in the same period last year. Read More
SML Isuzu Nov sales at 639 units, down 6% YoY
SML Isuzu has reported 6% drop in November sales. The company has sold 639 vehicles during November 2016 against 683 vehicles sold in November 2015. The cumulative sales for April-October 2016 stood at 9,283 vehicles, a rise of 21.57% as compared to 7,636 vehicles sold in April- October 2015. Read More
Steel Strips Wheels registers 22% turnover growth in November
SSWL achieved total wheel rim sales of 11.99 Lakh in November 2016 versus 10.52 Lakh in November 2015 representing a 14% YoY growth. The sales were heavily skewed towards the heavier wheels indicating better financial performance of the company. The impact of demonetisation seems limited and we expect normalcy to return in December 2016.
Jamshedpur plant operated at 102% capacity utilization in November 2016 and we expect the same performance till financial year end. Company is further debottlenecking the Jamshedpur plant to take the capacity utilization to 110% from December 2016. Read More
Balkrishna Industries Q2 FY17 PAT Rs 343 crore
Balkrishna Industries Ltd has announced the Unaudited Standalone results for the quarter ended September 30, 2016. The company has posted a net profit of Rs 243 crore for the quarter ended September 30, 2016 as compared to Rs 106 crore for the quarter ended September 30, 2015. The total income has increased from Rs 815 crore for the quarter ended September 30, 2015 to Rs 1050 crore for the quarter ended September 30, 2016. The Board of Directors has declared 2nd interim dividend of Rs 2 per Equity Share (100%) on the Equity Shares of Rs 2 each (face value) for the financial year 2016-2017. Read More
Maruti Suzuki trained 10,000 tribal youth in professional driving
Maruti Suzuki India Limited (MSIL), India's leading passenger vehicle maker, announced milestone achievement of training 10,000 tribal youth in professional driving in 'All Gujarat Institute of Driving, Technical Training and Research (AGIDTIR)' located at Waghodia, Gujarat.
Set up as a public-private-partnership between the Ministry of Tribal Development (Gujarat) and Maruti Suzuki in 2009, AGIDTIR has consistently focused on providing gainful employment opportunities to the tribal youth through comprehensive driver training programs. Read More
Triumph Motorcycles completes three years in India
Triumph Motorcycles, British luxury bike maker, with popular models such as Bonneville, Street Triple, Rocket III and Daytona to name a few, completes three years in India today. The iconic British brand has been delivering a complete riding experience in India since 2013 by creating motorcycles with a perfect balance of power, handling and style that involve the riders and bring out the best in them. Over 3,500 proud owners endorse the unique Triumph experience of bold design and purposeful engineering.
The Triumph family in India has grown from a single dealership in Bengaluru in 2013 to 14 dealerships currently across the country and 16 different motorcycle models across 5 categories of superbikes namely modern classics; adventure; roadsters; cruisers and super sports. Triumph India has also won 26 prestigious auto awards over the last three years. To celebrate the same the brand currently also has exclusive retail promotion schemes, social media contests and exciting offers going across all dealerships for the next one month...Read More
Ashok Leyland acquires LCV business from Nissan Motor Corporation
Ashok Leyland Ltd has now informed BSE that the Company have acquired all the shares held by Nissan Motor Co. Ltd., (NML) in the joint venture companies, Viz., Ashok Leyland Nissan-Vehicles Limited, Nissan-Ashok Leyland Powertrain Limited and Nissan-Ashok Leyland Technologies Limited formed between the Company and NML. Consequent to the acquisition of NML's stake in the joint venture companies, all the three joint venture companies have become wholly owned subsidiaries of the Company. Read More
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