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Have India’s air travel and hospitality industries recovered post-covid?

The <keyword id="23021375" type="General" weightage="20" keywordseo="domestic-passenger-vehicle-industry" source="keywords">domestic passenger vehicle industry</keyword> volumes declined by low single digit in August 2024 as compared with August 2023, because of weak retail demand trends and higher <keyword id="21396778" type="General" weightage="20" keywordseo="inventory-levels" source="keywords">inventory levels</keyword> at the dealerships according to Kotak Institutional Equities. The report suggests that the major reason for the sluggishness in sales of tractors is the uneven spatial distribution of rainfall, particularly in northern and eastern regions. It also highlights that growth will pick up in the coming months on the back of <keyword id="23021373" type="General" weightage="20" keywordseo="improved-monsoon" source="keywords">improved monsoon</keyword> conditions. The upcoming festive season will also improve the situation as traditionally it is a peak period for auto sales. Strong festive demand could help offset some of the losses experienced in the first half of the fiscal year. The weak wholesale figures in August were driven by private vehicles (PV), commercial vehicles (CV) and tractor original equipment manufacturers (OEM). Retail sales declined in single digits (yoy) for most of the companies. The PV segment saw a low single-digit decline in domestic wholesale volumes year-on-year (YoY) in August 2024, driven by weak retail demand and elevated inventory levels at dealerships, which stood at approximately 70 days. The retail sales fell by mid-single digits YoY during the month. Maruti Suzuki India Limited (MSIL), the largest player in the segment, reported a 4 per cent YoY drop in total volumes, including a 5 per cent decline in domestic sales but it was partially offset by a 6 per cent rise in the export volumes. MSIL's wholesale market share is estimated to have slipped by 250 basis points YoY to approximately 40.5-4 per cent says the report. Other major players also faced challenges in sales. Tata Motors recorded a 3 per cent YoY decrease in PV volumes, while Hyundai Motors reported an 8 per cent drop. However, Mahindra &amp; Mahindra (M&amp;M) bucked the trend with a 16 per cent YoY increase in PV volumes, and Toyota India posted a significant 37 per cent YoY growth on low volumes. Kia and MG Motors also experienced an uptick in sales. The two-wheeler (2W) segment showed resilience with high single-digit YoY growth in domestic wholesale volumes, largely driven by channel filling ahead of the festive season. Retail sales of the internal combustion engine (ICE) two-wheelers grew by mid-single digits YoY, while electric two-wheeler (EV 2W) sales surged by 41 per cent YoY, propelled by new mass-market EV launches and attractive discounts. Among the key players, Hero MotoCorp (HMCL) saw a 5 per cent YoY rise in volumes, and TVS Motor reported a robust 14 per cent YoY increase, with growth in both domestic and export segments. Bajaj Auto's volumes grew by 18 per cent YoY, driven primarily by domestic sales. However, Royal Enfield faced a 5 per cent YoY decline in volumes. Going forward, the report highlighted that the Commercial Vehicle (CV) segment underperformed during the month, with domestic volumes declining by low double digits YoY, primarily due to weakness in the Medium and Heavy Commercial Vehicle (MHCV) truck and Light Commercial Vehicle (LCV) segments. Tata Motors experienced a 15 per cent YoY drop in domestic CV volumes, with sharp declines in Small Commercial Vehicle (SCV) cargo (down 23 per cent) and MHCV trucks (down 15 per cent). Ashok Leyland also reported a 7 per cent YoY decline in CV volumes, while VE Commercial Vehicles (VECV) managed a modest 1 per cent YoY increase. In August, the domestic tractor segment remained flat YoY with volumes coming in 5-6 per cent. During this period, M&amp;M's tractor volumes grew by 1 per cent YoY, while Escort Kubota's volumes remained unchanged compared to the same period last year. The report says that strong festive demand could help offset some of the losses experienced in the first half of the fiscal year, particularly if economic conditions and consumer sentiment improve.

Auto Industry sales to surge on the back of improved monsoon, festive season demands: Report

<keyword id="20163833" type="General" weightage="100" keywordseo="Passenger-vehicle" source="keywords">Passenger vehicle</keyword> wholesales in India declined 2.5 per cent year-on-year to 3,41,510 units in July, impacted by high base effect as well as companies reducing vehicle dispatches to dealers amid moderation in demand. The overall passenger vehicle (PV) dispatches from companies to dealers stood at 3,50,355 units in July 2023, <keyword id="20081560" type="General" weightage="20" keywordseo="automobile-industry" source="keywords">automobile industry</keyword> body <keyword id="20185536" type="General" weightage="20" keywordseo="SIAM" source="keywords">SIAM</keyword> said on Wednesday. <keyword id="21653561" type="General" weightage="20" keywordseo="utility-vehicles" source="keywords">Utility vehicles</keyword> continued to drive sales of PVs, clocking 1,88,217 units last month, as against 1,80,831 units in July 2023, a growth of 4.1 per cent, as per the data issued by the Society of Indian Automobile Manufacturers (SIAM). Passenger cars, however, recorded a drop of 12 per cent at 96,652 units, as against 1,09,859 units in the same month last year. Industry observers pointed out that after high-paced growth witnessed in the past couple of years, the industry is witnessing moderation in demand. Besides, Original Equipment Manufacturers (OEMs) also undertook stock corrections in July to reduce inventory in the network. As per SIAM data, <keyword id="22783202" type="General" weightage="20" keywordseo="two-wheeler-wholesales" source="keywords">two-wheeler wholesales</keyword> grew by 12.5 per cent to 14,41,694 units last month, as compared to 12,82,054 units in July 2023. <keyword id="20067449" type="General" weightage="20" keywordseo="motorcycles" source="keywords">Motorcycles</keyword> wholesales were up 4.1 per cent at 8,50,489 units in July 2024, as against 8,17,206 units in the year-ago month, SIAM said. Scooters sales were up 29.2 per cent at 5,53,642 units last month, as against 4,28,640 units in the year-ago period. Three-wheeler wholesales also rose 5.1 per cent to 59,073 units from 56,204 units in July last year. "Though three-wheeler and two-wheeler segments are performing well, there has been some de-growth of passenger vehicles and commercial vehicles in July 2024, compared to July 2023," SIAM President Vinod Aggarwal said in a statement. He, however, said the above average rainfall coupled with upcoming festive season is likely to again propel growth in the short term. "In addition, enabling budget announcements which emphasise on overall economic growth with fiscal support for infrastructure and rural sector should augur well for the auto sector in the medium-term," Aggarwal said.

Domestic passenger vehicle wholesales dips 2.5% at 3,41,510 units in July: SIAM

<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> reported its <keyword id="20025887" type="General" weightage="20" keywordseo="highest-ever" source="keywords">highest-ever</keyword> <keyword id="20423741" type="General" weightage="20" keywordseo="monthly-sales" source="keywords">monthly sales</keyword> volume at 206,434 units. Total sales in the month include <keyword id="20025843" type="General" weightage="20" keywordseo="domestic-sales" source="keywords">domestic sales</keyword> of 163,130 units, sales to other original equipment manufacturers (OEMs) of 10,136 units and the highest-ever monthly <keyword id="19916774" type="General" weightage="20" keywordseo="exports" source="keywords">exports</keyword> of 33,168 units. Festival season and on top of that the deep discounts offered by various automakers have invariably helped dealers sell more cars this October. Here is a table listing out the <keyword id="19909974" type="General" weightage="100" keywordseo="Maruti-Suzuki" source="keywords">Maruti Suzuki</keyword> India car-wise sales figures in October: In October, total sales, domestic plus exports combined, were 3.6 per cent higher year-on-year. So far in 2024-25 - April to October, the total sales were 1.64 per cent higher year-on-year. Coming to exports, the shipments in October and April-October were 51 per cent and 17 per cent, higher year-on-year, respectively. In the fiscal year 2023-24, the company exported over 2.8 lakh units to more than 100 countries, holding a commanding 42 per cent share in the country's passenger vehicle exports. In other news, Maruti Suzuki India recently reached a significant milestone, with ist <keyword id="21943254" type="General" weightage="20" keywordseo="Manesar-facility" source="keywords">Manesar facility</keyword> crossing the 1 crore cumulative production mark. The Manesar plant achieved this feat in just 18 years, making it the fastest among Suzuki's global automobile manufacturing facilities to reach the 1 crore production milestone. The facility, which commenced operations in October 2006, is spread over 600 acres and manufactures a range of models, including Brezza, Ertiga, XL6, Ciaz, Dzire, Wagon R, S-Presso, and Celerio. These vehicles serve both domestic and international markets, with exports reaching regions such as Latin America, the Middle East, Africa, and neighboring Asian countries. Since its inception, Maruti Suzuki has produced over 3.1 crore vehicles, reinforcing its leadership in the Indian <keyword id="19945567" type="General" weightage="20" keywordseo="automotive-industry" source="keywords">automotive industry</keyword>. Maruti Suzuki India Limited also started the export of its acclaimed 'Made-in-India' SUV, the Fronx.

Maruti Suzuki India registers highest-ever monthly sales in festive-filled October

<keyword id="20214518" type="General" weightage="100" keywordseo="Hyundai-Motors-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Hyundai Motors India" meta.hostid="261" meta.entityid="Hyundai Motors India">Hyundai Motors India</keyword>'s IPO witnessed a muted debut on the bourses today. The share of the Indian subsidiary of South Korean automobile behemoth is listed at Rs 1,934 on the NSE, at a discount of 1.33% to its issue price of Rs 1,960. On the other hand, the share is listed at a discount of 1.48% to the issue price on the BSE. The IPO, touted to be India's biggest ever, was entirely an OFS (<keyword id="20209731" type="General" weightage="20" keywordseo="offer-for-sale" source="keywords">offer for sale</keyword>) worth Rs 27,870.16 crore and had set a price band of Rs 1,865 to Rs 1,960. As of 10:45 am today, the share was trading at Rs 1,907 on the NSE. On the BSE, the share was also trading at Rs 1,906, down by around 2.72%. The stock debuted on NSE at a price of Rs 1,934, before briefly inching up to its intra-day high of Rs 1,970. As of 10:50 am, the stock's intra-day low stands at Rs 1,844.65. With a <keyword id="19932516" type="General" weightage="20" keywordseo="market-cap" source="keywords">market cap</keyword> of Rs 1,51,376.41 crore, Hyundai Motors India (HMI) had opened for subscription between October 15th and 17th, 2024. Post this, the promoter's shareholding in the company has come down to 82.5%. The issue saw muted participation from <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">retail investors</keyword>, who subscribed 0.5x times to the IPO. However, QIBs (<keyword id="20240741" type="General" weightage="20" keywordseo="qualified-institutional-buyers" source="keywords">qualified institutional buyers</keyword>) had oversubscribed nearly 700% to the IPO. The company's GMP (<keyword id="19905703" type="General" weightage="20" keywordseo="grey-market-premium" source="keywords">grey market premium</keyword>) in the unofficial markets, as of this morning, was at Rs 48, which translates to the markets anticipating a potential listing gain of 2.45% per share. However, with a discounted listing, the stock continues to extend losses. <h2>Brokerages initiate buy coverage</h2> Experts are currently wary of the auto sector, given the ongoing slowdown in the passenger vehicle (PV) space, even as India approaches the festive season. Data from SIAM (Society of Indian Automobile Manufacturers) noted that during the first half of FY25, PV sales grew at a minimal 0.5%, much lower than the projected growth of 3-4%. Most automakers have forecast muted sales growth for the upcoming quarter as well, which has further dampened investor sentiment in this space. Even Hyundai had reported an 8% decrease in domestic PV dispatches made in August 2024, compared to the year-ago period. Brokerage firm Motilal Oswal initiated coverage on Hyundai Motors India with a "buy" tag. It noted that Hyundai has a robust, well-established PV ecosystem in India to its advantage, apart from having strong backing from the parent company. "We hence assign a 27x one-year FWD multiple to HMI, relative to our target multiple of 26x currently assigned to Maruti Suzuki. Therefore, we arrive at our target price of Rs 2,345 for Hyundai Motors India, based on 27x Sep’26E earnings. We initiate coverage on Hyundai Motors India with a buy rating," the broking added. Macquarie also initiated coverage of Hyundai Motor India at a target price of Rs 2,235, implying a 14% upside to the issue price. Per the firm, "HMIL deserves to trade at a premium PE multiple versus peers due to its favorable portfolio mix and premium positioning." Nomura initiated coverage with buy rating and target price of Rs 2,472, based on FY27F EPS. "We estimate HMI to deliver about 8% volume CAGR over FY25-27F driven by 7-8 new models (including facelifts) and its EBITDA margins to improve to 14% by FY27F from 13.1% in FY24. We believe this will be led by improving mix, cost reduction and operating leverage. Overall, we estimate HMI to deliver about 17% earnings CAGR over FY25-27F," it added. As research firm Master Capital Services Ltd notes, with an improved market share in key segments due to a favorable product mix, the brand has the potential for further growth. "Investors with a long-term perspective could consider holding the stock, as future performance will most likely be driven by the company's competitive market position and product enhancements," it explained.

Hyundai IPO listing: India's biggest ever IPO lists lower than issue price, brokerages issue buy rating

<ul><li>The overall <keyword id="20028264" type="General" weightage="20" keywordseo="passenger-vehicle-sales" source="keywords">passenger vehicle sales</keyword> declined in September 2024, the third consecutive month to record a decline.</li><li>After a close battle in August, <keyword id="20480977" type="General" weightage="20" keywordseo="Mahindra-and-Mahindra" source="keywords" meta.keywordsubtype="org" meta.entityname="Mahindra and Mahindra" meta.hostid="261" meta.entityid="Mahindra and Mahindra">Mahindra and Mahindra</keyword> has taken the third spot from <keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="261" meta.entityid="Tata Motors">Tata Motors</keyword>.</li><li><keyword id="19965528" type="General" weightage="20" keywordseo="Honda" source="keywords" meta.keywordsubtype="org" meta.entityname="Honda" meta.hostid="261" meta.entityid="Honda">Honda</keyword> has recorded the highest year-on-year decline in sales.</li></ul> The Indian passenger vehicles segment reported a decline in sales for the third consecutive month in September 2024, amid reports of rising inventory at dealerships. To address the issue, Car makers have started to reduce dispatches to dealerships. The total domestic PV sales slipped to 3,58,886 vehicles in September 2024, down from 3,62,876 vehicles in September 2023, registering a 1.1% year-on-year decline. <h2>Automakers report a decline</h2><keyword id="19909974" type="General" weightage="20" keywordseo="Maruti-Suzuki" source="keywords" meta.keywordsubtype="org" meta.entityname="Maruti Suzuki" meta.hostid="261" meta.entityid="Maruti Suzuki">Maruti Suzuki</keyword>, the country’s biggest automaker took a hit in September 2024, with 1,44,962 cars sold, down from 1,50,812 cars sold in September 2023, recording a 3.88% year-on-year decline in sales. <div type="Article" hostid="261" msid="113816837" title="PM E-DRIVE scheme with ₹10,900 crore outlay announced for electric vehicles" mstype="2" mssubtype="0"></div> Despite the decline in sales, Maruti Suzuki continues to enjoy a lion’s share in the Indian auto segment, with a 40% market share. <keyword id="19906087" type="General" weightage="20" keywordseo="Hyundai" source="keywords" meta.keywordsubtype="org" meta.entityname="Hyundai" meta.hostid="261" meta.entityid="Hyundai">Hyundai</keyword> is next with 51,101 cars sold during September 2024, down from 54,241 cars sold in September 2023, recording a 5.79% year-on-year decline in sales. <h2>Mahindra and Mahindra overtakes Tata Motors</h2>After emerging as a close fourth in August, Mahindra and Mahindra has managed to overtake Tata Motors in September 2024. The company received a boost in sales in September 2024, with 51,062 cars sold, up from 41,267 cars sold in September 2023, recording a 23.74% year-on-year growth. Tata Motors sold 41,065 vehicles in September 2024, down from 44,850 vehicles sold in September 2023, recording an 8.44% decline in sales. Toyota takes the fifth spot with 23,802 cars sold in September 2024, up from 22,168 cars sold in September 2023, recording a 7.37% growth. <keyword id="20034542" type="General" weightage="20" keywordseo="Kia-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Kia India" meta.hostid="261" meta.entityid="Kia India">Kia India</keyword> is next with 23,523 cars sold in September 2024, up from 20,022 cars sold in September 2023, recording a 17.49% increase in sales. Honda recorded the biggest decline, with 5,675 cars sold in September 2024, down from 9,861 cars sold in September 2023, registering a 42.45% year-on-year decline in sales. MG Motor recorded an 8.3% decline in sales, with 4,588 cars sold in September 2024, down from 5,003 cars sold in September 2023. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/kia-ev9-electric-suv-launched-in-india-at-1-3-crore/slidelist/113906569.cms">Kia EV9 electric SUV launched in India at ₹1.3 crore</a> <a href="https://www.businessinsider.in/business/auto/news/ola-electric-continues-to-lose-market-share-as-bajaj-auto-and-tvs-motor-gain/articleshow/113900252.cms">Ola Electric continues to lose market share as Bajaj Auto and TVS Motor gain</a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-october-2024/slidelist/113809612.cms">Upcoming cars launching in India in October 2024</a>

September Auto sales – Automakers report a decline, Mahindra and Mahindra overtakes Tata Motors

<ul class="summary-list"><li>Japan Airlines is offering free domestic flights to tourists from the US and other select countries.</li><li>Tourists must book round-trip international flights with Japan Airlines to qualify.</li></ul>Japan is a <a target="_blank" class="" href="https://www.businessinsider.com/japan-weak-currency-yen-boosts-foreign-tourism-luxury-purchases-travel-2024-4">popular spot for tourists</a>, and a new initiative will make it easier – and more affordable – to visit than ever before.Japan Airlines is offering free domestic flights to <a target="_blank" class="" href="https://www.businessinsider.com/things-american-wishes-she-knew-before-visiting-japan-mistakes-2024-9">tourists from the US</a>, Canada, Mexico, Thailand, Australia, and New Zealand, according to a recent <a target="_blank" class="" href="https://press.jal.co.jp/en/release/202409/008322.html">announcement</a> on its website.It will also be available for tourists from Vietnam, the Philippines Indonesia, India, China, and Taiwan.In order to claim the free tickets, passengers must book round-trip international flights with the same airline and the domestic flights must be booked in the same reservation as the international flights.A stopover fee of $100 will be charged to travelers from the US, Canada, Mexico, and China who plan to stay in their first destination for more than 24 hours.A spokesperson for Japan Airlines told Business Insider that "no end date has been set" for the initiative.The new initiative means lesser-known cities and towns will become more accessible.Grace Cheng, a travel blogger based in New York, <a target="_blank" class="" href="https://www.businessinsider.com/tips-for-going-to-japan-avoid-mistakes-travel-advice-2024-7">previously told BI</a> that tourists visiting Japan often make the mistake of only going to the capital, Tokyo, which doesn't fully represent how broad and versatile the culture is.<a target="_blank" class="" href="https://www.businessinsider.com/tokyo-confidential-bar-bartender-owner-foreigner-challenges-working-living-japan-2024-8">Tokyo</a> has become increasingly popular in recent years. In 2023, the number of international visitors to the city <a target="_blank" class="" href="https://www.statista.com/statistics/914251/inbound-tourist-numbers-tokyo-japan/">reached a record high of 19.54 million</a>, according to data tracking website Statista.That same year, the value of <a target="_blank" class="" href="https://www.statista.com/statistics/654349/japan-expenditure-by-foreign-tourists/">tourism expenditure</a> by international visitors was around 5.31 trillion Japanese yen, or around $37 billion, the website said."Tokyo is not Japan," Cheng said. "And you need to explore the other cities to actually have a sense of what Japan is like."Cheng recommends visiting Sapporo in the Hokkaido prefecture in the north of Japan. She said it is often more affordable than the capital and has friendly locals.Meanwhile, <a target="_blank" class="" href="https://www.harpersbazaar.com.sg/lifestyle/12-must-visit-places-in-japan-outside-of-tokyo">Harper's Bazaar Singapore</a> suggests visiting Kanazawa on the east coast of Japan's Honshu island for its Edo-era architecture, historic teahouses, and traditional Japanese artists, also known as geishas.The outlet also named several other popular locations, including Naoshima, an island town in the Seto Inland Sea.

Japan is encouraging Americans to visit with free domestic flights. Here's how to book.

Domestic passenger vehicle wholesales declined by about 2 per cent year-on-year in August as companies curtailed dispatches to reduce inventory at dealers amid a drop in demand. According to data issued by the industry body Society of Indian Automobile Manufacturers (<keyword id="20185536" type="General" weightage="20" keywordseo="SIAM" source="keywords">SIAM</keyword>), the total passenger vehicle dispatches in the domestic market stood at 3,52,921 units last month compared to 3,59,228 vehicles in August 2023, a dip of 1.8 per cent. Two-wheeler wholesales rose 9 per cent to 17,11,662 units last month against 15,66,594 units in the year-ago period, it added. Scooter dispatches last month climbed to 6,06,250 units from 5,49,290 units in August 2023, a growth of 10 per cent. Similarly, motorcycle dispatches from companies to dealers increased by 8 per cent to 10,60,866 units last month from 9,80,809 units in August 2023. The total three-wheeler sales grew 8 per cent to 69,962 units last month against 64,944 units a year ago. "Looking ahead, as the country enters the festive season, demand for vehicles is expected to grow, which will also be duly augmented by the recent announcements of PM E-DRIVE and PM-eBus Sewa Schemes of Government of India," SIAM Director General Rajesh Menon said. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/western-carriers-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113312196.cms">Western Carriers IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/stock-market/news/pn-gadgil-jewellers-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113302533.cms">PN Gadgil Jewellers IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-is-already-cheaper-than-the-iphone-15-pro-in-india-but-you-can-get-it-for-up-to-30000-cheaper/articleshow/113220789.cms">iPhone 16 Pro is already cheaper than the iPhone 15 Pro in India, but you can get it for up to ₹30,000 cheaper</a>

Passenger vehicle wholesales dip 2% in August as OEMs cut dispatches

<keyword id="19906967" type="General" weightage="100" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="261" meta.entityid="Tata Motors">Tata Motors</keyword> is looking to consolidate its position in the <keyword id="20027167" type="General" weightage="20" keywordseo="SUV" source="keywords">SUV</keyword> segment as it marks its entry into the highly competitive mid-size space which is currently dominated by South Korean and Japanese carmakers. The Mumbai-based auto major on Monday launched a midsize SUV coupe <keyword id="20400827" type="General" weightage="20" keywordseo="Curvv" source="keywords">Curvv</keyword> with petrol and diesel powertrains with a price starting at Rs 9.99 lakh. The company has already unveiled the electric version of the model in August. The model would be competing with the likes of <keyword id="2883300" type="General" weightage="20" keywordseo="Hyundai-Creta" source="Orion">Hyundai Creta</keyword>, <keyword id="7720018" type="General" weightage="20" keywordseo="Kia-Seltos" source="Orion">Kia Seltos</keyword>, Maruti Suzuki Grand Vitara, Toyota Urban Cruiser Hyryder, and Honda Elevate, among others. "Curvv is being positioned in the fast-growing, mid-size SUV segment, which is roughly 16% of the whole industry (passenger vehicle) size. If translated into numbers, it would be like 7 lakh units a year," Tata Motors Passenger Vehicle MD Shailesh Chandra told PTI in an interaction. The segment is very competitive with various brands having a product already in the market, he noted. Therefore, if one enters this segment so late, then it will have to think of coming up with a slightly differentiated approach, Chandra said. "And that was the thinking behind Curvv, which comes with an SUV coupe body style. We saw that this was gaining popularity globally, especially in the premium or luxury segment," he added. Further, he said: "So we thought, why don't we bring this into the crowded segment as a fresh, refreshing kind of a body style." When asked about sales expectations from the model, Chandra said: "We have come with this model, with the best in class features. It's a differentiated product in this and therefore we think it is going to perform well." He noted that Tata Motors currently has a market share of around 19% in the SUV segment and expects the new model to help it grow further. "We'll gain from where we are. The market leader in SUVs would be, say, 21-22 %, so it's a crowded segment. It's not that one player is holding the roost here. "All the top 3-4 players in SUVs are around the same market share figure," Chandra said. He noted that the company is also looking to enhance its dealer network by around 10-15 % in the next one year. "We have a very aggressive plan of expanding dealerships. We will need to have an enhanced network. We will have to make them bigger, also in size. And therefore, for EVs, we have started separation of the outlets. So there will be expansion in touchpoints, not only on the sales side, but big time on the service side as well," Chandra said. <keyword id="20400828" type="General" weightage="20" keywordseo="tata-curvv" source="keywords">Tata Curvv</keyword> comes with two petrol and a diesel engine option. "The introduction of the Curvv further enhances our SUV portfolio as a comprehensive mid-SUV product with multiple powertrains, several first-in-segment features, a brand new capable architecture - ATLAS and Level 2 ADAS," Chandra said. Besides Curvv, Tata Motors sells models like Punch, Nexon, Harrier and Safari in the domestic market.

Tata Motors eyes gains in SUV space as it drives in its Curvv

New Delhi, <keyword id="842113" type="General" weightage="20" keywordseo="Domestic-air-passenger-traffic" source="Orion">Domestic air passenger traffic</keyword> in the country recorded an annual growth of nearly 11 per cent to 1.26 crore in October, according to official data released on Thursday. The traffic stood at 1.14 crore passengers in October 2022 and at 1.22 crore passengers in September this year. The data released by aviation regulator DGCA showed that IndiGo carried 79.07 lakh passengers, garnering a domestic market share of 62.6 per cent in October. The market share was lower compared to 63.4 per cent registered in September. Last month, Air India's domestic market share climbed to 10.5 per cent from 9.8 per cent in September while that of Vistara and AirAsia India (renamed as AIX Connect) declined to 9.7 per cent and 6.6 per cent, respectively, in October. SpiceJet's market share grew to 5 per cent in October from 4.4 per cent in September while that of Akasa Air remained unchanged at 4.2 per cent. "Passengers carried by domestic airlines during January-October 2023 were 1,254.98 lakhs as against 988.31 lakhs during the corresponding period of previous year thereby registering annual growth of 26.98 per cent and monthly growth of 10.78 per cent," the Directorate General of Civil Aviation (DGCA) said. As many as 587 passengers were denied boarding by scheduled airlines in October, according to the data. A total of 30,307 passengers were affected by flight cancellations and 1,78,227 passengers were impacted due to flight delays last month.

Domestic air passenger traffic rises 11% in October

New Delhi, <keyword id="842113" type="General" weightage="20" keywordseo="domestic-air-passenger-traffic" source="Orion">Domestic air passenger traffic</keyword> touched a new high on Thursday as airlines carried 4,63,417 people. In November, the domestic <keyword id="64078" type="General" weightage="20" keywordseo="air-passenger-traffic" source="Orion">air passenger traffic</keyword> scaled new peaks at least four times. "Post-Covid, India's domestic aviation's turnaround story has not just been overwhelming but inspiring as well. "Positive attitude, progressive policies, and deep trust among passengers are taking it to new heights with every flight, every day," the <keyword id="58151" type="General" weightage="80" keywordseo="civil-aviation-ministry" source="Orion">civil aviation ministry</keyword> said in a post on X on Friday. As per official data, the total number of domestic passengers was 4,63,417 and the number of flight movements stood at 5,998 on Thursday (November 23). In a post on X, civil aviation minister <keyword id="29632" type="General" weightage="80" keywordseo="jyotiraditya-scindia" source="Orion">Jyotiraditya Scindia</keyword> on Friday said a new record has been set in Indian domestic aviation. Domestic air traffic had touched new peaks for three consecutive days -- November 18, 19 and 20.

Domestic air passenger traffic touches new high in November

India's domestic air passenger traffic rose 9% to more than 1.27 crore in November, according to official data released on Friday. Last month also saw daily air traffic touching new highs multiple times. <keyword id="6354706" type="General" weightage="20" keywordseo="indigo" source="Orion">IndiGo</keyword> remained the country's largest domestic carrier but its market share declined to 61.8% in November from 62.6% in October. However, none of the scheduled carriers had an On-Time Performance (OTP) score of more than 80% in November. Official data released by the Directorate General of Civil Aviation (DGCA) on Friday showed that airlines flew 1.27 crore passengers in November compared to 1.17 crore in the year-ago period. This marks a growth of 9.06% on an annual basis. "Passengers carried by domestic airlines during January-November 2023 were 1,382.34 lakhs as against 1,105.10 lakhs during the corresponding period of previous year thereby registering annual growth of 25.09% and monthly growth of 9.06%," DGCA said. The domestic market share of <keyword id="6358032" type="General" weightage="20" keywordseo="spicejet" source="Orion">SpiceJet</keyword> rose to 6.2% in November from 5% in October. Its OTP stood at 41.8% last month. <keyword id="2573" type="General" weightage="20" keywordseo="air-india" source="Orion">Air India</keyword>'s domestic market share remained unchanged at 10.5% in November while that of Vistara fell marginally to 9.4% last month. In November, the share of Akasa Air and AIX Connect remained unchanged at 4.2% and 6.6%, respectively. As per the data, Akasa Air topped the OTP chart at 78.2%, followed by IndiGo at 77.5% and Vistara at 72.8%. Air India's OTP was at 62.5% while that of AIX Connect and Alliance Air were at 69.7% and 66.1%, respectively. On-Time Performance (OTP) of scheduled domestic airlines is computed for four metro airports -- Bangalore, Delhi, Hyderabad, and Mumbai.

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