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<ul><li><keyword id="44883" type="CITY" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword> has reported a drop in 24% in sales in September as compared to the same month last year.</li><li>Indian <keyword id="1108326" type="PERSON" weightage="20" keywordseo="auto-manufacturers">auto manufacturers</keyword> have reported a continuous decline in sales for over a year now. </li><li>Maruti Suzuki had also slashed prices to align with the Government’s plans to revive demand. </li></ul>There seems to be no end to the woes of the Indian auto industry. Maruti Suzuki reported a drop in 24% in sales in September as compared to the same month last year. It sold a total of 122,640 units in September 2019. Indian auto manufacturers have been reporting a consistent decline in monthly sales for over a year now. 
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 “My belief is that we are near the bottom of the downward cycle and the economy, and <keyword id="47168" type="COMPANY" weightage="20" keywordseo="Car-sales">car sales</keyword> should start to accelerate in the near future,” Marutii Suzuki’s chairman RC Bhargava <a href="https://www.thehindu.com/business/Industry/auto-industry-is-near-bottom-of-downward-cycle-maruti-suzuki-chairman-bhargava/article29267803.ece">said at the company’s annual general meeting earlier in August.</a> However, the situation doesn’t seem to have changed in spite of steep discounts and a festive season around the corner. Maruti Suzuki slashed 3,000 contractual jobs in August. Earlier in September, Maruti Suzuki also slashed prices to align with the government’s plans to revive demand. It reduced the price of select models like Alto 800, Alto K10, Swift Diesel, Celerio, Baleno Diesel by ₹5,000. “This reduction of price will be over and above the current promotional offers for the company’s vehicle range,” Maruti Suzuki said.

Maruti Suzuki car sales see no respite for the festive season, decline by 24% in September

New Delhi, May 4 () Auto stocks on Monday plunged up to 12.5 per cent after top carmakers, including Maruti Suzuki reported zero monthly domestic sales for the first time ever in April after the nationwide lockdown halted output and shut sales network. Shares of Motherson Sumi Systems plummeted 12.51 per cent, Tata Motors tanked 9.88 per cent, Maruti Suzuki India 8.75 per cent, Apollo Tyres 7.69 per cent and Hero MotoCorp 7.61 per cent on the BSE. Bajaj Auto dropped 7.12 per cent, Eicher Motors 6.45 per cent, Ashok Leyland tumbled 5.73 per cent, TVS Motor Company 5.20 per cent and Mahindra &amp; Mahindra 2.66 per cent. The BSE Auto index fell by 6.88 per cent. Maruti Suzuki India, Hyundai Motor India Ltd, Mahindra &amp; Mahindra, Toyota Kirloskar Motor and MG Motor India reported nil sales as they suspended operations even before the imposition of lockdown on March 25, to check the spread of coronavirus. Maruti Suzuki, which produces more than half of the cars running on Indian roads, said it did not sell any vehicle in the domestic market in April. Homegrown automaker M&amp;M also reported zero sales of passenger and commercial vehicles in the domestic market. In two-wheeler segment, niche bike maker Royal Enfield said it had zero sales in the domestic market. Bajaj Auto on Monday said it did not sell any two-wheelers or commercial vehicles in the domestic market in April. The company, however, shipped 32,009 two-wheeler units to overseas markets last month, Bajai Auto said in a statement. SUM SHWSHW

Auto stocks slump up to 12.5 pc as lockdown-hit automakers score nil domestic sales in April

New Delhi, May 4 () Auto stocks on Monday plunged nearly 12 per cent after top carmakers, including Maruti Suzuki reported zero monthly domestic sales for the first time ever in April after the nationwide lockdown halted output and shut sales network. Shares of Tata Motors tanked 12.45 per cent, Motherson Sumi Systems shares plummeted 12.27 per cent, Apollo Tyres 9.45 per cent, Hero MotoCorp 8.34 per cent, Maruti Suzuki India 8 per cent on the BSE. Ashok Leyland tumbled 7.83 per cent, TVS Motor Company 7.16 per cent, Mahindra &amp; Mahindra 6.95 per cent, Bajaj Auto 6.66 per cent and Eicher Motors 6.30 per cent. The BSE Auto index fell by 6.33 per cent in early trade. Maruti Suzuki India, Hyundai Motor India Ltd, Mahindra &amp; Mahindra, Toyota Kirloskar Motor and MG Motor India reported nil sales as they suspended operations even before the imposition of lockdown on March 25, to check the spread of coronavirus. Maruti Suzuki, which produces more than half of the cars running on Indian roads, said it did not sell any vehicle in the domestic market in April. Homegrown automaker M&amp;M also reported zero sales of passenger and commercial vehicles in the domestic market. In two-wheeler segment, niche bike maker Royal Enfield said it had zero sales in the domestic market. SUM DRRDRR

Auto stocks slump nearly 12 pc as lockdown-hit automakers score nil domestic sales in April

<ul><li>For the month of August, <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword> saw a massive decline of 58%, <keyword id="44883" type="CITY" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword>’s sales fell by 33%, Mahindra &amp; Mahindra fell by 25% while Honda’s fell by 51%. </li><li>Auto companies have all been cutting production to align with the tapering demand. </li><li>But the industry is hoping for better growth with the government’s recent push where any vehicle that is bought from now until March 2020 will be eligible for 30% depreciation.</li></ul>As talks about the slowing Indian economy simmers on social media, there is one sector that has been facing the wrath for over 11 months now – the <keyword id="34478" type="PERSON" weightage="20" keywordseo="auto-industry">auto industry</keyword>. Most auto manufacturers reported their worst sales for the first quarter in a decade, and the trouble seems to continue. Tata Motors, Maruti Suzuki, Mahindra &amp; Mahindra and Hero Motocorp have all cut production to align with the tapering demand. Falling sales for top manufacturers Indian auto manufacturers have reported a continuous decline in sales for over 11 months now. In August, Tata Motors saw a massive decline of 58%, Maruti Suzuki’s sales fell by 33%, Mahindra &amp; Mahindra fell by 25% while Honda’s fell by 51%. For Maruti, a 71% drop was seen in the sales of its mini car segment (Alto and old WagonR) in August alone. 
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 “My belief is that we are near the bottom of the downward cycle and the economy, and <keyword id="47168" type="COMPANY" weightage="20" keywordseo="Car-sales">car sales</keyword> should start to accelerate in the near future,” Marutii Suzuki’s chairman RC Bhargava <a href="https://www.thehindu.com/business/Industry/auto-industry-is-near-bottom-of-downward-cycle-maruti-suzuki-chairman-bhargava/article29267803.ece">said at the company’s annual general meeting earlier in August.</a> Maruti Suzuki also slashed 3,000 contractual jobs. Meanwhile, Tata Motors too agreed that it’s ‘challenging’ time for the industry. “Subdued demand sentiment due to poor freight availability, lower freight rates and general slowdown in economy continued to hamper the commercial vehicle demand. System stock reduction through retail focus and aligning production, will continue to be our approach, while cautiously monitoring the market, in these challenging times,” said Girish Wagh, President, Commercial Vehicles Business Unit, Tata Motors. 
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 Increased production costs with BS VI norms The troubles of auto manufacturers are far from over. Auto manufacturers also have to comply with BS-VI norms by March 2020. After this, the sale of older models will not be allowed, which is not good news for those holding onto huge inventory. It also means that the car companies have to invest in switching technologies. “The additional components and design changes will raise production costs by 10%-15%. This could squeeze automakers' profitability in FY21 if automakers are not able to fully pass on costs to buyers,” said a report by credit rating agency Fitch earlier in August. Festive season coupled with government’s push brings hope This month, Tata Motors sold just over 7,000 passenger vehicles. They are now desperately hoping that the upcoming festive season to revive sales with special offers, and several special editions to their current cars. Maruti Suzuki also launched its latest offering – XL6 in August. They are also trading sights on the government for help. Finance Minister Nirmala Sitharaman too recently <a href="https://www.businessinsider.in/finance-minister-nirmala-sitharaman-announces-relief-for-the-indian-auto-industry/articleshow/70806777.cms">announced</a> much needed changes for the auto industry. “BS-IV vehicles purchased until March 30, 2020 will be allowed to run on the roads for the duration of the registration," the Finance Minister said. Any vehicle that is bought from now until March 2020 will be eligible for 30% depreciation, double that of the current rate of 15%, she said. Added to that, the government itself made the first move and decided to replace their own old vehicles, throwing its own austerity measures to wind.

India's car makers are hoping for a miracle as festive season starts at a new low

<ul><li>India’s largest carmaker Maruti Suzuki trimmed over a third of its output, owing to the sales slowdown. </li><li>Suzuki, in a stock exchange notice claimed that it has produced 111,370 units in August. </li><li>The company’s domestic passenger vehicle sales also went down by 36.1% at 93,173 units. </li><li>Suzuki shed over 1,000 temporary employees due to the slump in sales.</li></ul>India’s largest carmaker Maruti Suzuki trimmed over a third of its output, owing to sales slowdown. It reduced the <a href="https://www.financialexpress.com/industry/as-sales-fall-maruti-suzuki-cuts-output-by-34-pct/1694285/">output by 34%</a> in August, the company said. While it has been trimming output since February. In August, it produced only 111,370 units, Suzuki said in a stock exchange notice. The 11-month auto slowdown has taken a toll on the automaker’s most lucrative segment. The small segment cars such as WagonR and Alto have been the worst hit with a 63% decline in output. It also trimmed the production of its mini segment cars Baleno and Swift by 34%. This slash is in line in dull demand. In August, its sales for the mini segment declined by a massive 71% as compared to last year. “Production is never steady in many industries and it depends on how the market behaves,” R C Bhargava, Chairman of Maruti Suzuki <a href="https://www.financialexpress.com/industry/as-sales-fall-maruti-suzuki-cuts-output-by-34-pct/1694285/">told </a>The Financial Express. The company’s domestic passenger vehicle sales also went down by 36% to 93,173 units. Suzuki shed over 1,000 temporary employees, and is planning to freeze hiring. Plant shutdowns Top players like Tata Motors, Hero MotorCorp and Mahindra too have cut down production due to demand so sluggish that many dealerships have shuttered down. Mahindra &amp; Mahindra shut its operations for 25-30 days over the last two quarters. Companies like Tata Motors, Honda Cars also shut its plants for nearly 4-10 days in the last few months, thanks to the declining demand. Homegrown automotive multinational <a href="https://www.businessinsider.in/the-maker-of-general-motors-and-toyotas-parts-in-india-is-folding-up-axing-thousands-of-jobs/articleshow/70603130.cms">Jamna Auto Industries </a>(JAI) and the third largest suspension spring manufacturer in the world suspended operations in August, Reuters reported. Some of its Indian and global clients include General Motors Co, Toyota Motor Corp, Tata Motors and Mahindra — all of whom are victims of a worldwide auto slowdown. See also: <a href="https://www.businessinsider.in/the-maker-of-general-motors-and-toyotas-parts-in-india-is-folding-up-axing-thousands-of-jobs/articleshow/70603130.cms">The maker of General Motors and Toyota's parts in India is folding up — axing thousands of jobs</a> <a href="https://www.businessinsider.in/auto-sales-continue-to-decline-in-august/articleshow/70941671.cms">Tata Motors August sales are lower by 49% as auto industry's stuck in the slow lane</a> <a href="https://www.businessinsider.in/suzuki-and-toyota-will-pool-money-in-a-tie-up-to-beat-global-auto-competition/articleshow/70872106.cms">Suzuki and Toyota have decided to pool money to beat competition in global auto industry</a>

Suzuki cuts WagonR, Alto and other small car production by a massive 63%

<ul><li><keyword id="19931193" type="General" weightage="20" keywordseo="Maruti-Suzuki-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Maruti Suzuki India" meta.hostid="261" meta.entityid="Maruti Suzuki India">Maruti Suzuki India</keyword> on Friday reported a 47.8% rise in <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> for the March quarter of <keyword id="19910780" type="General" weightage="20" keywordseo="FY24" source="keywords">FY24</keyword>.</li><li>The auto maker reported a net profit of Rs 3,877.8 crore, on account of higher sales volume and favourable commodity prices.</li><li> The auto major had reported a net profit of Rs 2,623.6 crore in the year-ago period.</li></ul>The country's largest car maker <keyword id="19909974" type="General" weightage="20" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword> India on Friday reported a 47.8 per cent rise in net profit for the March quarter of FY24 to Rs 3,877.8 crore, on account of higher sales volume and favourable commodity prices. The auto major had reported a net profit of Rs 2,623.6 crore in the year-ago period, Maruti Suzuki India said in a regulatory filing. "For the first time, the company surpassed annual total sales milestone of 2 million units in FY24. The company continued to be the top exporter for the third consecutive year, now contributing 41.8 per cent of total passenger vehicle exports from India," the company stated. Maruti Suzuki shares were trading at Rs 12,687.05 apiece at the day's close, down 1.7 per cent from its previous close on the BSE. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms" target="_blank">Ultraviolette F77 Mach 2 electric sports bike launched in India starting at ₹2.99 lakh</a><a href="https://www.businessinsider.in/tech/mobile/news/realme-c65-5g-with-5000mah-battery-120hz-display-launched-starting-at-10499/articleshow/109619597.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-c65-5g-with-5000mah-battery-120hz-display-launched-starting-at-10499/articleshow/109619597.cms" target="_blank">Realme C65 5G with 5,000mAh battery, 120Hz display launched starting at ₹10,499</a><a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a>

Maruti Suzuki Q4 net profit rises 47.8% to ₹3,877.8 crore

<ul><li>A report by credit rating agency <keyword id="125045" type="CITY" weightage="20" keywordseo="Fitch-Ratings">Fitch ratings</keyword> says that the challenges are likely to persist for Indian <keyword id="144197" type="PERSON" weightage="20" keywordseo="auto-manufacturing">auto manufacturing</keyword> companies. </li><li>As carmakers have to comply with <keyword id="2901172" type="PERSON" weightage="20" keywordseo="BS-VI">BS VI</keyword> norms, it will result in increased production costs. </li><li>Auto sector has been undergoing a massive slowdown, with the first quarter results leaving top companies worried.</li></ul>The Indian auto industry has been witnessing one of its worst ever phases with sales slowing down for over 10 months now. But their troubles are far from over. There is more pain ahead in the form of new emission norms. Now, they also have to comply with BS-VI norms by March 2020. After this, the sale of older models will not be allowed, which is not good news for those holding onto huge inventory. It also means that the car companies have to invest in switching technologies. “The additional components and design changes will raise production costs by 10%-15%. This could squeeze automakers' profitability in FY21 if automakers are not able to fully pass on costs to buyers,” said a report by credit rating agency Fitch. Automakers are already on the backfoot and offering heavy discounts ranging from 8% to 27% depending on the model. Their ability to pass on increased costs seems to be bleak. <keyword id="44883" type="CITY" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword> is leading the way with most ‘total cash discounts’ offered to consumers. While Alto models saw an 8% increase in discounts as compared to June, the Celerio Automatic and Dzire Diesel versions saw a steep increase of 23% and 27%. Most auto manufacturers reported their worst sales report for the first quarter in a decade. Auto companies like <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword>, Maruti Suzuki, Mahindra &amp; Mahindra and Hero Motocorp, have all been cutting production to align with the tapering demand. And these woes will continue. “Subdued demand conditions that led to weak performance by Indian automakers in the first quarter of the financial year ending 31 March 2020 (FY20) will likely persist, adding to the challenges from the implementation of stricter emission norms under BS6 from April 2020,” the report says. Maruti Suzuki’s profits fell by 27.3% for the first quarter. It sold 109,264 units in July 2019, registering a steep 33.5% fall in sales compared to the same month in the previous year. On a monthly basis, its July sales have fallen by 12.3% from its June. “My belief is that we are near the bottom of the downward cycle and the economy, and car sales should start to accelerate in the near future,” Marutii Suzuki’s chairman RC Bhargava <a href="https://www.thehindu.com/business/Industry/auto-industry-is-near-bottom-of-downward-cycle-maruti-suzuki-chairman-bhargava/article29267803.ece">said at the company’s annual general meeting.</a> Maruti Suzuki has also cut down on 3000 contractual jobs. Tata Motors’ sales in the domestic market dropped by 34% at 32,938 units compared to 50,100 units sold over last year as subdued demand continued in July 2019. The report said that the lowered sales was due to “the constrained liquidity at non-bank lenders reduced credit availability to buyers and the cost of ownership rose due to new regulations mandating enhanced vehicle insurance cover and additional safety features”.

Indian automakers are stuck between stricter emission laws and falling sales

<ul><li>The Indian auto industry is going through one of its worst phases with a 10-month slowdown in sales.</li><li><keyword id="6357252" type="UNKNOWN" weightage="20" keywordseo="Hero-MotoCorp">Hero MotoCorp</keyword> has joined <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword>, <keyword id="6357096" type="UNKNOWN" weightage="20" keywordseo="Mahindra-Mahindra">Mahindra &amp; Mahindra</keyword> and <keyword id="44883" type="CITY" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword> to halt production due to lack of demand. </li><li>The first quarter results of most auto companies saw falling sales and thus, declining profits.</li></ul>The Indian auto industry has been in a downward spiral with <keyword id="47168" type="COMPANY" weightage="20" keywordseo="Car-sales">car sales</keyword> for over 10 months now resulting in companies halting production. The two-wheeler market has been affected as well. As proof, Hero MotoCorp has become the latest automaker to halt manufacturing. The country’s largest two-wheeler manufacturer said that its facilities will be closed for four days (August 15 to 18) because of the “demand scenario”. Its sales declined by 12.2% in the first quarter of FY 20 to 616,526. "The overall economic and customer sentiments continued to be soft during the first quarter of this fiscal and their impact is clearly visible in the performance of the auto sector. The outlook for the rest of the year will be dependent on multiple factors, including the progress of monsoon and festive season offtake, as well as improvement in liquidity,” Niranjan Gupta, Chief Financial Officer, Hero MotoCorp had then said. Earlier this month, Mahindra &amp; Mahindra in a regulatory filing said that as part of aligning its production with sales, it would be observing ''No Production Days'' ranging between 8 - 14 days in the second quarter of FY 20. Another auto giant Tata Motors too <a href="https://www.business-standard.com/article/pti-stories/automakers-cut-production-to-align-with-tapering-market-demand-119080901294_1.html">confirmed</a> that it is aligning production with the low demand. India’s largest auto manufacturing company Maruti Suzuki has cut production for six months in a row. It announced that it has cut production by 25% in July. Maruti Suzuki’s profits fell by 27.3%. It total sales for the first quarter of FY20 fell by 17.9% as compared to the same quarter last year. Meanwhile, Tata Motors’ cumulative income which includes Jaguar Land Rover, included drop by 20%.

Hero MotoCorp, Tata, Mahindra and Maruti Suzuki are all cutting production as there’s no demand

<ul><li>Market research reports say that July is going to see car sales continue to remain weak across all segments.</li><li>This also means that discounts per car are increasing heavily, Maruti Suzuki is leading the monthly discounts race. </li><li>Most car manufacturers saw their sales decline in the Q1 of FY20, also affecting their profits.</li></ul>Car sales have been slipping for the last eight months, and experts are predicting a tepid July month as well. As expected, manufacturers are rolling in discounts every month, to help push sales. Maruti Suzuki is leading the way with most ‘total cash discounts’ offered to consumers. While Alto models saw an 8% increase in discounts as compared to June, the Celerio Automatic and Dzire Diesel versions saw a steep increase of 23% and 27%. Weak sales to continue July isn’t going to bring in any cheer for carmakers who are hoping for good sales, according to a research report released by Emkay Global. “Volume performance is expected to remain weak across segments due to a high-base effect, increasing cost of vehicle ownership, monsoon deficit and financing issues,” the report said. <table style="border-width: initial; border-style: none; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Expected YOY drop in Sales </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Maruti Suzuki </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">20.9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">M&amp;M Auto </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">7.4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Tata Motors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">12.1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Hero Motocorp </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">11.7% </td></tr></tbody></table> The quarterly earnings reports of auto manufacturers also spell doom for the industry. India’s largest car manufacturer Maruti Suzuki’s profits fell by 27.3%. It total sales for the first quarter of FY20 fell by 17.9% as compared to the same quarter last year. Meanwhile, <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword>’ saw its cumulative income (Jaguar Land Rover included) dropped by 20%. And, the manufacturers are beginning to blame the government. “There is no demand and no private investment, so where will growth come from? It doesn’t fall from the heavens. The auto industry is going through a very difficult period. Cars, commercial vehicles and two-wheelers are going through a rough patch,” Rahul Bajaj, Chairman and MD of Bajaj Group said at his company’s annual general meeting. See Also: <a href="https://www.businessinsider.in/Narendra-Modi-has-a-new-problem-big-corporates-and-moneybags-are-angry/articleshow/70450878.cms">Narendra Modi has a new problem – big corporates and moneybags are angry</a>

Deep discounts fail as car sales are set to fall for the ninth straight month in July

<ul><li>The company has announced non-working days for 5 of its manufacturing plants “due to continued weak demand”.</li><li>The number of non-working days in a plant is as high as 18 days. </li><li><keyword id="44883" type="CITY" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword>, Mahindra &amp; Mahindra, <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword> and Hero Motocorp had all announced no production days owing to the weak demand.</li></ul>Ashok Leyand is the latest auto manufacturer to announce a production cut. The company said that five of its manufacturing plants have non-working days “due to continued weak demand”. Its plants in Ennore, Hosur and CPPS, Alwar, Bhandara and Pantnagar will have many holidays in September. The number of non-working days in a plant being as high as 18. In August, <keyword id="6357085" type="PERSON" weightage="20" keywordseo="ashok-leyland">Ashok Leyland</keyword> saw a drop of about 50% in total. Its truck sales alone came down by 70% as compared to the year before. The truck manufacturer isn’t the only one to cut production. In fact, the company joins a long line of automakers – Maruti Suzuki, Mahindra &amp; Mahindra, Tata Motors and Hero Motocorp –who announced no production days. In August, Tata Motors’ sales declined by 58%, Maruti Suzuki’s fell by 33%, Mahindra &amp; Mahindra’s fell by 25% while Honda’s fell by 51%. Passenger vehicle sales in India saw their worst ever month, registering its worth ever month in the last two decades. The first quarter results of most auto companies were equally dismal as their revenues and profits both fell. See Also: <a href="https://www.businessinsider.in/business/auto-sales-in-august-see-highest-ever-de-growth-in-19-years-as-it-drops-18-7/articleshow/71045315.cms">Auto sales in August see highest ever de-growth in 19 years as it drops 18.7%</a>

Ashok Leyland joins the club of ‘No Production Days’ as its August sales fall by 50%

<ul><li>With car sales being woefully slow, Indian <keyword id="1108326" type="PERSON" weightage="20" keywordseo="auto-manufacturers">auto manufacturers</keyword> are going to see the weakest Q1 results in a decade, say analysts. </li><li>A CLSA report has said that Q1 EBITDA is going to fall by an average of 28% for all auto companies.</li><li><keyword id="44883" type="CITY" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword> cut production for the fifth consecutive month in June due to lack of demand.</li></ul>Indian automakers have been witnessing a massive slowdown in sales and that has resulted in stock analysts calling it the first quarter, their toughest quarter in a decade. CLSA, the capital markets research firm, has said that first quarter results for FY 20 is likely to be the weakest in a decade for the auto sector because of depressed volumes and margin pressure. The report further mentions that for the first quarter, pre-tax profits would fall by 28% year-on-year for the entire industry. While Maruti and Ashok Leyland could see their quarter’s profits decline by 35-43%, Eicher, <keyword id="45224" type="CITY" weightage="20" keywordseo="Mahindra">Mahindra</keyword> and Motherson Sumi could see a 14-21% decline. “We remain cautious on the sector and have sell ratings SELLs on 70% of our stock coverage; on a relative basis, we continue to prefer Maruti , Eicher, and Motherson,” said the report. <keyword id="424067" type="PERSON" weightage="20" keywordseo="Car-sales-in-India">Car sales in India</keyword> have been falling for the last past few months. In May 2019, passenger car sales declined by 20.5%. One of India’s biggest car manufacturers, Maruti Suzuki had reported a decline by 21% in its car sales for May. In June, it fell again by 14%. In fact, the auto manufacturing giant cut production for the fifth consecutive month in June due to lack of demand. Its shares fell too, shedding ₹7,000 crore in market value in early July.

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Maruti Suzuki car sales see no respite for the festive season, decline by 24% in September

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Auto stocks slump up to 12.5 pc as lockdown-hit automakers score nil domestic sales in April

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Auto stocks slump nearly 12 pc as lockdown-hit automakers score nil domestic sales in April

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India's car makers are hoping for a miracle as festive season starts at a new low

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Suzuki cuts WagonR, Alto and other small car production by a massive 63%

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Maruti Suzuki Q4 net profit rises 47.8% to ₹3,877.8 crore

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Indian automakers are stuck between stricter emission laws and falling sales

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Hero MotoCorp, Tata, Mahindra and Maruti Suzuki are all cutting production as there’s no demand

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Deep discounts fail as car sales are set to fall for the ninth straight month in July

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Ashok Leyland joins the club of ‘No Production Days’ as its August sales fall by 50%

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A global investment firm has 'SELL' rating on 70% of Indian car makers because sales may not pick up speed

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