Latest news with #RajeshMenon
&w=3840&q=100)
Business Standard
a day ago
- Automotive
- Business Standard
PV dispatches fall for third straight month as demand stays subdued
Right ahead of the festive season, passenger vehicle (PV) dispatches remained on the slow lane in July, declining 0.2 per cent year-on-year (YoY) to 341,510 units as dealership inventory stayed elevated, prompting manufacturers to moderate supplies. This marks the third straight month of decline in PV dispatches. PV production in July was flat at 398,071 units (up 0.1 per cent), indicating that original equipment manufacturer (OEM) dispatches are being calibrated to retail demand. Within PVs, passenger car wholesales fell 0.5 per cent, while utility vehicles grew a modest 2.4 per cent. PV retail sales declined 0.8 per cent YoY in July, and the Federation of Automobile Dealers Associations (FADA) said urban demand was muted due to low enquiry levels and restrained customer sentiment. Inventory levels remain at around 55 days. PV dispatches have been under strain since the start of this fiscal. After growing 5.5 per cent in April, they fell 0.8 per cent in May and 6.3 per cent in June. For April–July, PV dispatches were down 0.7 per cent. India's largest PV maker, Maruti Suzuki, recorded flat dispatches in July at 137,776 units, data from the Society of Indian Automobile Manufacturers (SIAM) showed. Speaking to reporters earlier this month, Partho Banerjee, senior executive officer, marketing and sales, Maruti Suzuki, said the company was optimistic about the upcoming festive season, with Onam in Kerala and Ganesh Chaturthi in September likely to drive demand. 'Bookings in Kerala are already up 10 per cent in July, which is a strong festive indicator. A good monsoon and potential MSP hikes are also expected to support rural sentiment and further boost sales,' he said. Rajesh Menon, director general, SIAM, shared the sentiment: 'With the advent of the festive season beginning with Onam festivities in the latter part of August, the Indian auto industry remains cautiously optimistic for the demand momentum to pick up in the coming months.' Early signs are visible — retail PV sales grew 10.8 per cent in July compared to June. FADA said monsoon tailwinds and festival fervour should spur demand in August. Precision promotions, partnership-driven finance solutions, and dynamic rural–urban engagement will be critical to convert latent demand into sustained retail growth, it said. Industry insiders noted that rural growth has slowed from 10 per cent last year to 2–3 per cent, while urban demand shows improving bookings but deferred deliveries amid IT job concerns, AI-related uncertainties, and geopolitical factors. Analysts said their channel checks show buyer footfall and queries have fallen in recent months, partly due to job-market uncertainties, with people taking longer to finalise purchases. PV exports remained stable, growing 8.7 per cent in July, though the base was low at 67,292 units. Two-wheeler and three-wheeler dispatches rose in July — 8.7 per cent and 17.5 per cent, respectively. Within two-wheelers, scooters grew in double digits (16.2 per cent) while motorcycles rose 4.7 per cent. Within three-wheelers, passenger carriers grew 21.4 per cent, while goods carriers rose 10.6 per cent. E-rickshaw dispatches, however, fell 53 per cent.
Economic Times
a day ago
- Automotive
- Economic Times
Passenger vehicle sales fall marginally in July amid sluggish demand
Synopsis Domestic passenger vehicle sales experienced a slight dip of 0.2% in July due to persistent sluggish consumer demand. Despite this, the industry witnessed strong growth in three-wheeler and two-wheeler segments. Automakers are cautiously optimistic about a sales rebound during the upcoming festive season, anticipating increased demand as the market stabilizes. Getty Images "Growth in rural markets which stood at about 10% last year, has now come down to 2-3%." (Image for representation) Domestic passenger vehicle sales declined marginally by 0.2% in July, amid persistently sluggish consumer are cautiously optimistic that sales will pick up during the coming festive season, starting with Onam later this month. As many as 340,772 cars, sedans, and utility vehicles were dispatched from factories to dealerships last month, compared with 341,510 vehicles in July 2024, according to data released by industry body Society of Indian Automobile Manufacturers (SIAM).Rajesh Menon, Director General, SIAM said, 'All vehicle segments posted stable performance in July 2025, though overall sentiments in the passenger vehicles segment has remained subdued so far which de-grew marginally by (-) 0.2%, as compared to July of 2024.' July 2024 July 2025 % Change Passenger vehicles 3,41,510 3,40,772 -0.2 Three-wheelers 59,073 69,403 17.5 Two-wheelers 14,41,694 15,67,267 8.7 Domestic sales only. Source: SIAM Three Wheelers posted their highest ever sales of July in 2025 of 69,403 units, with a growth of 17.5% as compared to July 2024. Two-wheeler sales grew by 8.7% to 1,567,267 units last month, as compared to 1,441,694 units in the year-ago period. While sales of scooters went up by 16.2% to 643,169 units in the month under review, those of motorcycles rose 4.7% to 890,107 units. Moped sales fell 9.5% to 33,991 units. 'With the advent of the festive season beginning with Onam festivities in the latter part of August, the Indian auto industry remains cautiously optimistic for the demand momentum to pick up in the coming months', Menon informed. Partho Banerjee, senior executive officer (marketing and sales) confirmed earlier this month while Maruti has seen an uptick in bookings ahead of the festive season, starting with Onam in Kerala, conversions are slow.'Growth in rural markets which stood at about 10% last year, has now come down to 2-3%. In urban areas, with layoffs in the IT sector, buyers are cautious,' Banerjee said, adding, 'We have, however, seen an increase in bookings which is a positive sign.' 'With the advent of the festive season, as things stabilise, we expect the demand momentum to pick up,' said Banerjee. Maruti Suzuki has so far recorded a 10% increase in bookings in Kerala. Tarun Garg, chief operating officer, at Korean rival Hyundai too said, 'While the overall auto industry has seen some softness in recent months, we remain optimistic with the onset of the festive season and are fully geared up with robust supply and product offerings.'
Economic Times
a day ago
- Automotive
- Economic Times
Passenger vehicle dispatches dip marginally in July on muted demand
Synopsis In July 2025, passenger vehicle wholesales experienced a slight dip, totaling 3,41,510 units, as reported by SIAM. Despite this, the two-wheeler segment saw a robust 9% increase, driven by a surge in scooter sales which rose by 16%. The industry anticipates a demand upswing with the onset of the festive season, remaining cautiously optimistic for the coming months. Agencies Passenger vehicle dispatches from companies to dealers in the domestic market declined marginally year-on-year in July, hit by muted demand, industry body SIAM said on vehicle dispatches declined to 3,40,772 units in July, compared to 3,41,510 units in the same month last year. "All vehicle segments posted stable performance in July 2025, though overall sentiments in the passenger vehicles segment have remained subdued," Society of Indian Automobile Manufacturers (SIAM) Director General Rajesh Menon said in a statement. Two-wheeler dispatches rose 9 per cent year-on-year to 15,67,267 units last month from 14,41,694 units in the year-ago period. Scooter sales stood at 6,43,169 units last month, an increase of 16 per cent as compared with 5,53,642 units in July 2024, SIAM said. Motorcycle dispatches to dealers rose 5 per cent year-on-year to 8,90,107 units in saw a dip of 9 per cent year-on-year to 33,991 units last month, as against the same period last dispatches to dealers saw an increase of 17.5 per cent year-on-year to 69,403 units in July as compared with 59,073 units in the year-ago period."With the advent of the festive season beginning with Onam festivities in the latter part of August, the Indian auto industry remains cautiously optimistic for the demand momentum to pick up in the coming months," Menon noted.
Hindustan Times
a day ago
- Automotive
- Hindustan Times
Auto sales in July 2025: Exports save the day as local car sales enter slow lane
Car sales in India entered the slow lane in July 2025, only to be propped up by higher exports. The demand at dealerships is muted still. WagonR hatchbacks are seen parked at the manufacturing plant of Maruti Suzuki in Manesar. India's largest carmaker continues to restrict new car dispatches to dealerships amid a slump in demand and a rise in unsold inventory.(REUTERS) Indian carmakers shipped 3,40,772 units to dealerships last month as against 3,41,510 units in the year-ago period—registering a decline of 0.2%, according to wholesale data released by the Society of Indian Automobile Manufacturers on Thursday. Exports rose 8.7% year-on-year to 67,292 units during the same time. That compares with 3,98,071 cars produced last month. Essentially, at 4,08,064 units, local car sales and exports outstripped monthly production. 'All vehicle segments posted stable performance in July 2025, though overall sentiments in the passenger vehicles segment has remained subdued so far,' SIAM's Director General Rajesh Menon said in a statement. To be sure, SIAM's auto sales data isn't an indicator of demand on the ground but of how much inventory they stock at dealerships. In reality, the decline is steeper. Retail car sales—calculated as the number of vehicle registrations on the government's VAHAN portal—fell 0.81% year-on-year to 2,97,722 units in July 2025, according to data from the Federation of Automobile Dealers Associations. That's a yawning gap of 43,050 units between demand and supply. 'The Aashaada period and auspicious delivery days, combined with targeted schemes, new-model introductions and aggressive rural marketing, powered hinterland sales that picked up decisively towards month-end,' FADA President CS Vigneshwar said in a 7 August statement. 'Urban demand, however, remained muted due to low enquiry and restrained customer sentiment.' 'With inventory levels steady at around 55 days, calibrated discounting, streamlined finance facilitation and intensified urban outreach will be crucial for festive-season growth.'
The Hindu
a day ago
- Automotive
- The Hindu
Passenger vehicle dispatches dip marginally in July on muted demand
'Passenger vehicle dispatches from companies to dealers in the domestic market declined marginally year-over-year in July, hit by muted demand,' industry body Society of Indian Automobile Manufacturers (SIAM) said on Thursday (August 14, 2025). Passenger vehicle wholesales stood at 3,41,510 units in July 2024. Passenger vehicle dispatches rise 4%; two-wheelers see 17% dip in April: SIAM "All vehicle segments posted stable performance in July 2025, though overall sentiments in the passenger vehicles segment have remained subdued," SIAM Director General Rajesh Menon said in a statement. 'Two-wheeler dispatches rose 9% year-over-year to 15,67,267 units last month from 14,41,694 units in the year-ago period. Scooter sales stood at 6,43,169 units last month, an increase of 16% as compared to 5,53,642 units in July 2024,' SIAM said. Motorcycle dispatches to dealers rose 5% year-over-year to 8,90,107 units in July. Passenger vehicle wholesales marginally down at 3,44,656 units in May: SIAM Mopeds saw a dip of 9% year-over-year to 33,991 units last month, as against the same period last year. Three-wheeler dispatches to dealers saw an increase of 17.5% year-over-year to 69,403 units in July as compared to 59,073 units in the year-ago period. "With the advent of the festive season beginning with Onam festivities in the latter part of August, the Indian auto industry remains cautiously optimistic for the demand momentum to pick up in the coming months," Mr. Menon noted.
