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Economic Times
6 days ago
- Automotive
- Economic Times
No U-turn yet, vehicle sales keep sliding
Agencies While two-wheeler sales fell 6.5% on-year to 1.36 million units in July this year, passenger vehicle sales declined by about 1% to 328,613 units. Total retail sales of passenger vehicles, two-wheelers, three-wheelers, tractors, and commercial vehicles in India fell 4.31% year-on-year in July to 1.96 million units, on a high base, and reflecting sluggish consumer demand. Retail sales of both passenger vehicles and two-wheelers fell during the month while commercial vehicle sales remained flat. The only exception was a double-digit increase in tractor sales, thanks to plentiful rains and robust crop sowing. Retail sales are counted as vehicle registrations. Data collated by dealers lobby group Federation of Automobile Dealers' Associations (FADA) from the VAHAN portal of the Ministry of Road, Transport and Highways (MoRTH) showed about 2 million vehicles across categories were registered in July 2024. While two-wheeler sales fell 6.5% on-year to 1.36 million units in July this year, passenger vehicle sales declined by about 1% to 328,613 units. Commercial vehicle sales were largely flat at 76,439 units last month, while three-wheelers grew 0.8% to 111,426 units. Tractors beat the subdued industry trend, posting a 11% sales increase to 88,722 units. "After three consecutive months of growth, India's auto retail sector applied the brakes in July, with overall retails declining by 4.31% YoY," said C S Vigneshwar, president, FADA. "This pullback largely stems from a high-base effect in July 2024, when an extreme heat wave was immediately followed by excessive rainfall, constraining volumes before a rebound later that month."In the two-wheeler segment, crop-sowing activity and prolonged heavy rains dampened rural footfalls more sharply than urban. Dealers are nevertheless confident of a post-monsoon uptick, with several purchase decisions deferred to August ahead of the festive season, said the passenger vehicle segment, rural markets outperformed urban. Dealer inventory is currently at around 55 days. While Maruti Suzuki kept its leadership of the domestic car market, Hyundai Motor India beat Mahindra & Mahindra to reclaim the second slot. Hyundai's retail sales stood at 43,009 units last month, ahead of M&M's 42,207 units. CV sales inched up by 0.2% in July led by some momentum in urban markets. Dealers said new-model launches, aggressive marketing support, bulk institutional orders, and timely stock availability helped drive sales. "Rural haulage demand, however, remained fragmented amid heavy rainfall, seasonal softness in cement, coal and construction logistics, and slower financier disbursements, prompting many buyers to defer purchases to the post-monsoon period," said sales grew by a robust 11%, helped by timely release of enhanced farm subsidies and favourable monsoon rains.
Time of India
10-07-2025
- Automotive
- Time of India
India on track for 500GW renewable energy by 2030, EV shift key to climate goals: MoS Harsh Malhotra
New Delhi: India is aiming to achieve 500 gigawatts (GW) of renewable energy by 2030, and the push towards electric mobility will play a key role in meeting the country's climate, energy security, and economic resilience objectives, Minister of State for Road, Transport & Highways and Corporate Affairs Harsh Malhotra said on Thursday. Speaking at the India Energy Storage Week (IESW) 2025 session on 'India's Roadmap for Vehicle Electrification' at Yashobhoomi, Delhi, the minister said, 'The transition to electric mobility is not merely a technological shift but is a national imperative to achieve climate goals, maintain economic resilience and energy security.' He highlighted the government's support for the electric vehicle ecosystem through policies such as the PM E-Drive scheme and FAME-II. He also mentioned initiatives like EV retrofitting regulations and toll tax exemptions for electric vehicles aimed at making transport systems more sustainable. Malhotra said that Multi-Modal Logistics Parks being developed by the Ministry of Road, Transport and Highways — which integrate road, rail, and warehousing — are being equipped with green energy features and EV-friendly facilities. These initiatives, he said, will help reduce logistics costs and emissions. He called on stakeholders to develop a transport future that is 'not just electric—but safe, inclusive, and environmentally responsible,' and emphasised the need for battery storage technologies that suit India's climatic and mobility needs. 'We must recognize that battery storage technologies which are tailored to India's climate and mobility needs—will be crucial for our future,' he said, urging industry leaders to invest in R&D, manufacture locally, and adopt circular solutions like battery recycling and reuse. Malhotra said India had witnessed remarkable industrial and business growth in the past 11 years, and this momentum is now being channelled towards achieving the 2070 Net Zero target set by Prime Minister Narendra Modi.
