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<ul><li>Overall passenger vehicle segment crossed the 20 lakh units sales mark for the first time-ever in the first half this year.</li><li>Toyota Kirloskar Motor reported a double-digit growth in dispatches to dealers, while Kia saw a dip in wholesales last month.</li><li>MG Motor India also reported a double-digit increase in retail sales in June 2023 compared to the same month last year.</li></ul>New Delhi, Maruti Suzuki India (MSI) and Hyundai posted single-digit growth in domestic sales in June, even as the overall passenger vehicle segment crossed the 20 lakh units sales mark for the first time-ever in the first half this year. Toyota Kirloskar Motor reported a double-digit growth in dispatches to dealers, while Kia saw a dip in wholesales last month. MG Motor India also reported a double-digit increase in retail sales in June 2023 compared to the same month last year. Maruti Suzuki India, the country's largest carmaker, said its domestic passenger vehicle sales rose 8 per cent to 1,33,027 units in June against 1,22,685 units in the year-ago period. Sales of mini cars, comprising Alto and S-Presso, fell marginally to 14,054 units compared to 14,442 units a year ago. Similarly, sales in the compact segment, models such as Swift, Celerio, Ignis, Baleno and Dzire, slumped 17 per cent to 64,471 units from 77,746 cars in June 2022. Utility vehicle sales, including Brezza, Grand Vitara and Ertiga, however, surged over two-fold to 43,404 units compared to 18,860 vehicles in the year-ago month, MSI said. MSI Senior Executive Officer (Marketing and Sales) Shashank Srivastava said the automaker grew faster than the industry in June, enabling it to scale up its overall market share by 2.4 per cent to 41 per cent. The overall passenger vehicle industry dispatches grew by 1.9 per cent to 3,27,700 lakh units from 3,21,600 lakh units in the year-ago period, he said. MSI, on the other hand, dispatched 1,33,027 lakh passenger vehicles last month, up 8 per cent from 1,22,685 lakh units in June 2022. Srivastava noted that the domestic passenger vehicle segment has crossed 20 lakh sales-mark in the first half of the year, a 10 per cent growth over 18.31 lakh units dispatched in the January-June period of 2022. MSI dispatches to dealers during the period stood at 8,61,000 units over 7,87,000 units in the corresponding period a year ago, he added. He noted that the company's SUV market share rose to 21 per cent in the April-June quarter this fiscal, compared to an 8.5 per cent market share in the same period of the preceding fiscal. Srivastava noted that with the addition of new models like Jimny and Fronx, the company remained hopeful of attaining around 25 per cent market share in the segment to take the top slot in the segment by the end of the current financial year. On supply chain shortages, he said the situation is expected to get better in the current quarter. MSI currently has a pending order backlog of 3.55 lakh units, he stated. When asked about challenges, Srivastava said that high-interest rates and chances of an erratic monsoon were some of the factors, which the company was closely monitoring. Rival Hyundai Motor India reported a 2 per cent rise in its domestic sales at 50,001 units last month from 49,001 units in June 2022. "There is a positive customer traction for all our products and Verna, Creta and Tucson have attained leadership positions in their respective segments in the first half of CY23," HMIL COO Tarun Garg said. Toyota Kirloskar Motor also said its total wholesales increased 19 per cent to 19,608 units in June compared to 16,512 units in the year-ago period. Its domestic dispatches stood at 18,237 units while overseas shipments were at 1,371 units. "Ever since the launch of Urban Cruiser Hyryder and Innova Hycross, we are witnessing continued high acceptance by our customers," TKM Vice President (Sales and Strategic Marketing) Atul Sood said. On the other hand, Kia India said its domestic wholesales declined 19 per cent to 19,391 units in June. The company dispatched 24,024 units to dealers in June 2022. "We have kept our performance steady with healthy growth, despite the realignment of our manufacturing process to accommodate the development of the new Seltos this month," Kia India National Head (Sales &amp; Marketing) Hardeep Singh Brar said. With the launch of new Seltos, the automaker aims to be one of the top mid-SUV segment leaders again and hopes for a strong sales surge, he added. Another automaker, MG Motor India reported a 14 per cent increase in retail sales at 5,125 units in June 2023 against 4,504 units in the same month last year. "Supplies were disrupted in the wake of cyclone Biparjoy though customer demand should now gain momentum following the monsoon as India gears up for a long festive season," the company said.

Maruti, Hyundai post single-digit rise in June PV sales; industry crosses record 20 lakh units in H1 2023

<ul><li>The auto industry has laid off nearly 350,000 working employees in the last four months, according to a Reuters report. </li><li>Car and motorcycle makers have axed 15,000 jobs while roughly 100,000 jobs have been lost in the auto parts manufacturing units. </li><li><keyword id="44883" type="CITY" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword> India has shed over 1,000 temporary employees, and is planning to freeze hiring as a cost cutting measure.</li><li>The sector employs nearly 32 million workers across the country.</li></ul>The auto sector slowdown has cost the sector hundreds of thousands of jobs. The industry has laid off nearly 350,000 employees in the last four months, according to a <a href="https://in.reuters.com/article/india-autos-jobs/exclusive-tens-of-thousands-losing-jobs-as-indias-auto-crisis-deepens-sources-idINKCN1UW1XK">Reuters report</a>. Car and motorcycle makers have axed 15,000 jobs, while 100,000 jobs were lost at auto parts manufacturing units. Added to this, as many as million contract jobs are on the line as well. Overall, the sector employs <a href="https://www.businessinsider.in/budget-2019-proposal-lower-tax-likely-on-cars/articleshow/69723060.cms">nearly 32 million workers</a> across the country, both directly or indirectly. The slowdown impact For the last nine months, auto sales have been falling and heavy discounting have not pulled customers in. So much so that auto dealerships have been shuttering down, which has resulted in top car manufacturers like Maruti Suzuki, Nissan, Bajaj Auto and Tata Motors cutting production. The largest auto company Maruti Suzuki alone shed over 1,000 temporary employees, and is planning to freeze hiring. It witnessed a decline of 33.5% in its total sales, including exports for July. In fact, the company has decided to <a href="https://www.moneycontrol.com/news/technology/hit-by-sales-dip-maruti-suzuki-planning-to-run-just-one-shift-at-each-of-its-plants-4288951.html">work in a single shift</a> at all its manufacturing plants as a cost cutting measure. The sector employs a high percentage of contractual workers to match the dynamic nature of demand in the sector. Employers hire contractual staff at the time of growth while <a href="https://www.livemint.com/auto-news/slowdown-in-auto-sales-10-15-people-lost-jobs-in-auto-component-industry-1563960909599.html">nearly 20% jobs</a> are lost during production cuts, explained Vinnie Mehta, director general, ACMA. "Temporary employees are the first to get impacted and the same has happened in this case too," IANS reported citing industry sources. Japanese multinational Nissan is also considering laying off 1,710 of these jobs in India. Tata Motors and Mahindra have had factory shutdowns. This comes in the back of the ongoing job crisis in India. The country’s unemployment rate stood at 7.91% as on June 2019, according to the Centre for Monitoring Indian Economy (CMIE). And particularly in the auto sector, the hiring has dropped by 2.5% in 2018 fiscal. See also: <a href="https://www.businessinsider.in/nissan-may-lay-off-over-1700-employees-in-india/articleshow/70389996.cms">Nissan may lay off over 1,700 employees in India as car sales slow down</a> <a href="https://www.businessinsider.in/auto-sector-slowdown-puts-one-million-contractual-jobs-at-risk/articleshow/70373751.cms">Auto sector slowdown puts one million contractual jobs at risk</a> <a href="https://www.businessinsider.in/budget-2019-proposal-lower-tax-likely-on-cars/articleshow/69723060.cms">With 32 million jobs at stake in India’s auto sector, the Modi government may ease tax burden on cars</a>

Indian auto manufacturers axed 350,000 jobs in four months — and there are more to go

<ul><li>The drop in automobile sales will cost India nearly a million jobs. </li><li>The auto sector employs roughly 5 million workers in India, including 3.5 million contractual roles. </li><li>The auto sector saw a 17% drop in passenger vehicles sale in April. </li><li>Employers hire contractual staff at the time of growth while nearly 20% jobs are lost during production cuts.</li></ul><keyword id="46211" type="ORGANIZATION" weightage="20" keywordseo="Auto-sales">Auto sales</keyword> have been going down for over a year now, and it has resulted in production cuts. So much so, many dealerships have shut down too. The trickle down effect for the sector has started— as a <a href="https://economictimes.indiatimes.com/auto-component-industry-fears-loss-of-10-lakh-jobs-due-to-prolonged-slowdown/articleshow/70362395.cms">million contractual workers are at risk of losing their jobs</a>. This accounts for nearly 10%-15% layoffs per company. What’s worse is that the industry pegs this number much higher, owing to its tepid sales. The passenger vehicle sales in India saw a dip in April at 17% — the lowest in the last eight years, shows the data by Society of Indian Automobile Manufacturers (SIAM). This unprecedented decline has impacted both contractual and permanent employees. The <keyword id="6369865" type="UNKNOWN" weightage="20" keywordseo="job-loss">job loss</keyword> is largely due to the slowdown in sales in Gurugram-Manesar belt of Haryana, Pune, Jamshedpur and some parts of Madhya Pradesh, according to Automotive Component Manufacturers Association of India (ACMA). The auto sector employs roughly 5 million workers in India — including 3.5 million employed contractually. The sector employs a high percentage of contractual workers due to vagaries in production and demand in the sector. Employers hire contractual staff at the time of growth while <a href="https://www.livemint.com/auto-news/slowdown-in-auto-sales-10-15-people-lost-jobs-in-auto-component-industry-1563960909599.html">nearly 20% jobs</a> are lost during production cuts, explained Vinnie Mehta, director general, ACMA. “The industry needs urgent government intervention. There is an immediate need to stimulate vehicle demand and also sustain it post BS-VI implementation, as vehicles will become significantly expensive thereafter,” Ram Venkataramani, President, ACMA <a href="https://www.thehindubusinessline.com/economy/auto-component-industry-fears-loss-of-10-lakh-jobs-due-to-prolonged-slowdown/article28697949.ece">told</a> BusinessLine. “Whenever there is production cut of 20% by OEMs then there is job losses across the value chain of component manufacturers," he added. The exports in the sector also dropped to 17% during the last fiscal, which accounts to roughly ₹1 trillion. The industry exports nearly 26% of its components and products. See also: <a href="https://www.businessinsider.in/mahindra-mahindra-joins-maruti-suzuki-to-announce-a-car-price-hike/articleshow/69868857.cms">Car sales are woefully slow in India but prices are rising due to new green norms</a> <a href="https://www.businessinsider.in/maruti-mahindra-had-the-toughest-quarter-in-a-decade-as-car-sales-are-slow/articleshow/70287195.cms">A global investment firm has 'SELL' rating on 70% of Indian car makers because sales may not pick up speed</a> <a href="https://www.businessinsider.in/cellestial-e-mobility-has-raised-funds-to-launch-electric-tractors/articleshow/70344435.cms">A Hyderabad-based startup has raised funds to launch its electric tractors</a>

Auto sector slowdown puts one million contractual jobs at risk

New Delhi [India], July 12 (ANI): The <keyword id="20025828" type="General" weightage="20" keywordseo="two-wheeler-sales" source="keywords">two-wheeler sales</keyword> in India in June registered a growth of 21.3 per cent year-on-year (Y-o-Y), highlights the sales data released by the <keyword id="20163832" type="General" weightage="20" keywordseo="society-of-indian-automobile" source="keywords">Society of Indian Automobile</keyword> Manufacturers (SIAM) on Friday. The data highlighted that in June the total sales of the two wheelers were recorded at 16,14,154 units which is a 21.3 per cent increase from 13,30,826 two wheeler sold in June 2023. The sales of the scooters also surged to a record 42 per cent Y-o-Y in June to 5.4 lakhs, last year in June it was at 3.8 lakhs. The sales of Bikes also registered two-fold growth with sales increased by 11 per cent in June to 10.3 lakhs as compared to 9.1 lakh last year during the same period. The <keyword id="20028264" type="General" weightage="20" keywordseo="passenger-vehicle-sales" source="keywords">passenger vehicle sales</keyword> also registered a growth of 3 per cent Y-o-Y in June. The total passenger vehicle sales during June stands at 3,37,757 units, it was 3,27,788 units during June 2023. The sales of <keyword id="20412606" type="General" weightage="20" keywordseo="three-wheelers" source="keywords">three-wheelers</keyword> surged twofold by an increase of 12.3 per cent, according to the data total 59, 544 units of three wheelers were sold in June 2024 as against 53, 025 units sold in June 2023. The sales data for June demonstrates a positive outlook for the Indian <keyword id="20081560" type="General" weightage="20" keywordseo="automobile-industry" source="keywords">automobile industry</keyword>. The substantial growth in two-wheeler sales, particularly scooters and motorcycles, along with the steady increase in passenger and three-wheeler sales, reflects a resilient and expanding automobile market in India. Earlier in May, the sales of passenger cars dropped by over 11 per cent, according to the data by the Society of Indian Automobile Manufacturers (SIAM). The domestic sales of passenger cars also slipped 11 per cent from 1,20,364 units in May 2023 to 1,06,952 units in May 2024. The auto companies also reduced the production of passenger cars by 13 per cent, from 1,63,619 units in May 2023 to 1,42,367 units 2024. Export of passenger cars too saw a drop of about 20 per cent from 35,806 units in May 2023 to 28,802 units in May 2024. However, the sales number of June showed the positive signs of growth in the automobile industry.

Auto sales see a positive trend in June, two-wheeler sales register 21% annual growth: SIAM data

<ul><li><keyword id="4306161" type="PERSON" weightage="20" keywordseo="Cars24">Cars24</keyword> has announced its first franchisee in Surat. </li><li>The startup plans to breakeven by December 2019. </li><li>It plans to invest ₹1-1.5 million into a franchise depending on the location. </li></ul>Indian used cars startup Cars24 is adopting the franchise model to expand across the country. This will help them set-up 300 outlets in tier 2, 3 and 4 cities over the next two years. The startup plans to breakeven by December 2019, and the franchising model could help ramp up operations. Strengthening its presence in tier 2 cities, it also opened a franchisee branch in Surat – the second largest automobile market in India. It plans to invest ₹1-1.5 million into a franchise, depending on the location. It is shortlisting partners after putting them through a lens, and clearing only one from every 200 applications. “Our key objective is to address the challenges that are faced by sellers and buyers in non-metro cities. We are filling the vast gap of a dependable partner in the used car segment and associating the entrepreneurial spirit and local talent of non-metro cities with our platform for seamless execution,” said Mehul Agarwal, Co-founder and COO, CARS24. Cars24 sells over 13,000 cars every month through its platform. In over four years, it sold 1.6 lakh cars. It is now present in 35 cities with 150 branches, Cars24 plans to be in 70 cities with 230 branches, by 2019. “We only have 2% market share of the $30 billion used car market. In India, 5 million used cars are sold every year. Our objective is to take this 2% to 20% over the next 5 years,” Vikram Chopra, co-founder and CEO of Cars24 had said in an earlier interview with Business Insider. This development from Cars24 comes at a time when the Indian auto industry is witnessing a slowdown in the sales of new cars. The country’s largest car maker <a href="https://www.livemint.com/auto-news/maruti-suzuki-sales-down-14-in-june-at-124-708-units-1561984801149.html">Maruti Suzuki </a>too reported a 14% decline in sales in June. Passenger vehicle sales have been suffering for the last eight months. <a href="https://www.businessinsider.in/june-monthly-car-sales-data-points-to-a-severe-slowdown-in-india/articleshow/69985355.cms">Consumer sentiment has suffered due to</a> cost increases amid strict safety regulations, delay in monsoon, rural stress, slowing economy and liquidity constraints. See Also: <a href="https://www.businessinsider.in/news/auto-sales-continue-to-slip-for-eight-straight-months-making-revival-tough/articleshow/70034595.cms">Auto sales continue to slip for eight straight months, making revival tough</a>

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Maruti, Hyundai post single-digit rise in June PV sales; industry crosses record 20 lakh units in H1 2023

PTI

Indian auto manufacturers axed 350,000 jobs in four months — and there are more to go

Prerna Sindwani

Auto sector slowdown puts one million contractual jobs at risk

Prerna Sindwani

Auto sales see a positive trend in June, two-wheeler sales register 21% annual growth: SIAM data

ANI

EXCLUSIVE: Cars24, a startup selling used cars, wants outlets in 300 cities and is looking for potential franchisees

Sanchita Dash

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