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<keyword id="21999883" type="General" weightage="20" keywordseo="Passenger-vehicle-retail-sales" source="keywords">Passenger vehicle retail sales</keyword> in India witnessed a 5 per cent on-year decline in August on account of delayed customer purchases, poor consumer sentiment and persistent heavy rains, industry body <keyword id="20108734" type="General" weightage="20" keywordseo="FADA" source="keywords">FADA</keyword> said on Thursday. The overall <keyword id="762866" type="General" weightage="100" keywordseo="Passenger-vehicle" source="Orion">passenger vehicle</keyword> (PV) registrations last month stood at 3,09,053 units, as compared to 3,23,720 units in August 2023. "Even with the arrival of the <keyword id="19894908" type="General" weightage="20" keywordseo="Festive-season" source="keywords">festive season</keyword>, the market remains under significant strain... Inventory levels have reached alarming levels, with stock days now stretching to 70-75 days and inventory totalling 7.8 lakh vehicles, valued at an alarming Rs 77,800 crore," Federation of Automobile Dealers Associations (FADA) President Manish Raj Singhania said in a statement. Rather than responding to the situation, PV Original Equipment Manufacturers (OEMs) continue to increase dispatches to dealers on a month-on-month basis, further exacerbating the issue, he added. "FADA urgently calls upon all banks and NBFCs to intervene and immediately control funding to dealers with excessive inventory," Singhania said, adding that dealers must also act swiftly to stop taking on additional stock to protect their financial health. The OEMs, too, must recalibrate their supply strategies without delay, or the industry faces a potential crisis from this inventory overload, he said. "If this aggressive push of excess stock continues unchecked, the <keyword id="23047448" type="General" weightage="20" keywordseo="auto-retail-ecosystem" source="keywords">auto retail ecosystem</keyword> could face severe disruption," Singhania said. Commercial vehicle registrations saw a 6 per cent year-on-year dip in August, while tractor retail sales also witnessed a drop of 11 per cent as compared to the year-ago period. Two-wheeler sales, however, increased 6 per cent year-on-year to 13,38,237 units in August, as compared to 12,59,140 units in the same month last year, on the back of improved stock availability and the onset of the festive season, Singhania said. Three-wheeler retail sales also increased by 2 per cent to 1,05,478 units last month, as compared to 1,03,782 units in the year-ago period. Overall registrations last month saw an increase of 3 per cent year-on-year at 18,91,499 units, as against 18,38,501 units in August last year. On business outlook in the near term, FADA said it remains cautiously optimistic. While the festive season and improved rural demand present promising opportunities for growth, ongoing weather uncertainties and high inventory levels may temper the overall recovery, it stated. To navigate these challenges, strategic inventory management and targeted marketing initiatives will be crucial in maximising festive sales and mitigating risks from adverse weather conditions, it added.

Passenger vehicle retail sales dip 5% in August 2024; FADA raises alarm over rising inventory level

<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

In a thrilling showcase of skill and determination, India's <keyword id="20123154" type="General" weightage="100" keywordseo="Lakshya-Sen" source="keywords">Lakshya Sen</keyword> has made headlines at the <keyword id="20006192" type="General" weightage="20" keywordseo="Paris-Olympics" source="keywords">Paris Olympics</keyword> by advancing to the pre-quarterfinals of the men’s singles <keyword id="20012442" type="General" weightage="20" keywordseo="badminton" source="keywords">badminton</keyword> competition on Wednesday. The 22-year-old from Almora delivered a sensational performance, defeating Indonesia's world number 3 <keyword id="20132267" type="General" weightage="20" keywordseo="Jonatan-Christie" source="keywords">Jonatan Christie</keyword> in straight games. Sen, who clinched a bronze medal at the 2021 World Championships, displayed a blend of tactical brilliance and composure to overcome Christie, the reigning All England and Asian champion. This impressive victory came after a gruelling 50-minute match that saw Sen turn the tide in his favour, particularly with a remarkable behind-the-back shot at 20-18 in the first game. The encounter ended with scores of 21-18, 21-12. The win was a significant boost for Sen, marking only his second victory over Christie in their six clashes. The pair’s previous meetings had seen Sen fall short, but he turned the tables in this crucial clash, demonstrating his growth and resilience on the court. Sen’s journey to the pre-quarterfinals included a solid start in Group L, where he initially faced Kevin Cordon, a Tokyo Olympics semifinalist. However, Cordon had to withdraw due to an elbow injury, leading to the match being nullified. Sen’s subsequent victory over Belgium’s Julien Carraggi further solidified his path to the knockout stages. Looking ahead, Sen is poised to face compatriot HS Prannoy in the pre-quarterfinals, with Prannoy set to play Vietnam's Le Duc Phat later in the day. <div type="Article" hostid="261" msid="112102370" title="Who is Manu Bhaker, the first Indian woman to win a Bronze Medal in Shooting at the Olympics?" mstype="2" mssubtype="0"></div>In a parallel development, <keyword id="20114899" type="General" weightage="20" keywordseo="PV-Sindhu" source="keywords">PV Sindhu</keyword> <a href="https://www.businessinsider.in/sports/news/paris-olympics-pv-sindhu-advances-to-round-of-16-after-beating-estonias-kristin-kuuba/articleshow/112163148.cms" data-type="tilCustomLink" target="_blank">continued India’s strong performance</a> in badminton, securing her place in the women’s singles pre-quarterfinals. Sindhu, a two-time Olympic medallist, breezed through her match against Estonia’s Kristin Kuuba, winning 21-5, 21-10 in just 33 minutes. As the Olympic badminton tournaments progress, both Sen and Sindhu’s performances are setting the stage for a potentially historic badminton run for India in Paris. (With inputs from PTI)

India's Lakshya Sen stuns world number 3 to secure pre-quarterfinal spot in men's badminton at Paris Olympics

India shuttler <keyword id="20114899" type="General" weightage="100" keywordseo="PV-Sindhu" source="keywords">PV Sindhu</keyword> marched into the Round of 16 of the <keyword id="20012442" type="General" weightage="20" keywordseo="badminton" source="keywords">badminton</keyword> <keyword id="20931243" type="General" weightage="20" keywordseo="womens-singles" source="keywords">women's singles</keyword> event after beating <keyword id="22388886" type="General" weightage="20" keywordseo="Kristin-Kuuba" source="keywords">Kristin Kuuba</keyword> of <keyword id="20361165" type="General" weightage="20" keywordseo="Estonia" source="keywords">Estonia</keyword> in the final Group M match at the ongoing <keyword id="20006192" type="General" weightage="20" keywordseo="Paris-Olympics" source="keywords">Paris Olympics</keyword> on Wednesday. Sindhu dominated over Kuuba and won the match 21-5, 21-10 in a 34-minute contest at the <keyword id="22615945" type="General" weightage="20" keywordseo="La-Chapelle-Arena" source="keywords">La Chapelle Arena</keyword>. In the first game, Sindhu controlled the momentum and clinched a 21-5 win in just 14 minutes. Meanwhile, The Indian shuttler continued her form and won the second game 21-10 in 19 minutes. PV Sindhu could potentially face the People's Republic of China's He Bingjiao in her upcoming Round of 16 match. Earlier in the Tokyo Olympics, Sindhu beat He Bingjiao to secure her bronze. In Sindhu's previous Group M match, the Indian shuttler began her quest for her third Olympic medal with a straightforward win against the Maldives' Fathimath Nabaaha Abdul Razzaq in the women's singles event. Sindhu displayed grit and confidence and restricted her opponent to single digits in both games. She began her campaign with a 21-9, 21-6 win in a game that lasted for 29 minutes. In the hunt for her third Olympic medal, Sindhu didn't waste any time in establishing her dominance. She used every inch of the badminton court to her advantage and lured her opponent into playing a loose shot. This was the second time Sindhu and Razzaq had faced each other. The Indian shuttler breezed past the Maldives shuttler in their first encounter, and once again, history repeated itself in Paris. The first game began with both shuttlers going neck-to-neck against each other. Sindhu took a point lead, and Razzaq fought back to level the scoreline. The trend lasted till the scoreboard read 4-4. Sindhu upped her game and went on a spree, which saw her claim ten points in a row. Razzaq eventually managed to break Sindhu's 10-point spree, but the first game was almost out of her hands. An angled flick from Sindhu, showcasing her class, made the score line 19-6 in her favour. Razzaq fought back, fighting hard for a late comeback by winning three consecutive points. An exquisite drop shot made the scoreline 19-9. Sindhu eventually sealed the first game in 13 minutes with a scoreline of 21-9. The second game was a similar story for the Maldives shuttler. She failed to overcome Sindhu's technical prowess. Within a blink of an eye, the Indian shuttler clinched three consecutive points before her shot was stopped by the net. This opened a window of opportunity for Razzaq to make a comeback and she exploited it to its best. She won three consecutive points, making the scoreline 4-3, leaving her just a point behind Sindhu. However, the short-lived rallies didn't do any favour for Razzaq as she eventually started to trail just like in the first set. Razzaq's defence didn't do her any favour, allowing Sindhu to seal the match following a 21-6 win in the second game.

Paris Olympics: PV Sindhu advances to round of 16 after beating Estonia's Kristin Kuuba

Two-time Olympic medallist Indian <keyword id="20626605" type="General" weightage="20" keywordseo="shuttler" source="keywords">shuttler</keyword> <keyword id="20114899" type="General" weightage="100" keywordseo="PV-Sindhu" source="keywords">PV Sindhu</keyword> began her <keyword id="4833237" type="General" weightage="20" keywordseo="paris-olympics" source="Orion">Paris Olympics</keyword> campaign with a resounding straight games win over Maldives' <keyword id="22577064" type="General" weightage="20" keywordseo="Fathimath-Abdul-Razzaq" source="keywords">Fathimath Abdul Razzaq</keyword> in the <keyword id="20931243" type="General" weightage="20" keywordseo="womens-singles" source="keywords">women's singles</keyword> group stage match, here on Sunday. The gulf of class between the two players was evident as Sindhu, who is vying for a third Olympic medal, took just 29 minutes to dispatch her lower-ranked opponent 21-9 21-6 in the Group M fixture. "It was a good start, I am happy. I was able to get used to the court and the atmosphere. It has been a long time, coming back after three years, it's a very special one. 2016 (<keyword id="19933819" type="General" weightage="20" keywordseo="Olympics" source="keywords">Olympics</keyword>) was different and 2020 (2021) was completely different. It is a sort of mixture of both," said Sindhu about her Olympic journey. "I am enjoying and looking to the second match." After a couple of unforced errors, Sindhu was quick to assess the condition and took control of the proceedings, racing to a 11-4 lead. The world No 111 Fathimath was no match against the former world champion who finished the first game in a mere 13 minutes. The second game followed a similar manner with Sindhu claiming the first four points in the blink of an eye to take an early lead. However, Razzaq capitalised on Sindhu's error to bridge the gap to make it 3-4. But it became a one-sided contest once again as the Indian increased the gap to 10-3. In the end, Sindhu had as many as 14 match points but the world No 13 needed only one to seal the tie. The 10th seeded Indian, who won the silver medal in the Rio Games in 2016 and a bronze in the last edition in Tokyo, will take on World No 75 <keyword id="22388886" type="General" weightage="20" keywordseo="Kristin-Kuuba" source="keywords">Kristin Kuuba</keyword> of Estonia in her second group match on Wednesday. Sindhu has been mentored by the legendary <keyword id="20626607" type="General" weightage="20" keywordseo="Prakash-Padukone" source="keywords">Prakash Padukone</keyword> in the past few months, and she said the association has been beneficial to her. "I have been with Prakash sir for more than six months now and it's going on very well. Everything is coming together. We have to know each other very well to work together," she said. "Prakash sir is a legend, he is very experienced and he will come and tell me what is required, what I need to change." Asked about the aspects of her game which has improved since she started working with Padukone, she said, "Overall, it has not changed the way I feel but there have been add-ons. "When after I got injured It was getting difficult to move well on court and it was at times getting hard to get the momentum back. We worked on that, we worked on strokes, not just on net and defence but on overall game. You need to be at your 100 per cent in every big tournament or on every stroke." She said mental strength is very important for players, especially during a big event like the Olympics. "It is very important to be mentally strong. You at times don't know what is happening, everything gone from you. we worked on the mental things also. I tried to be positive, keep myself calm and do yoga."

Paris Olympics: PV Sindhu opens campaign with dominant win over Fathimath Abdul Razzaq

<keyword id="21991719" type="General" weightage="20" keywordseo="passenger-vehicle-exports" source="keywords">Passenger vehicle exports</keyword> from India rose by 2.68 lakh units in the last four financial years with <keyword id="19931193" type="General" weightage="20" keywordseo="Maruti-Suzuki-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Maruti Suzuki India" meta.hostid="153" meta.entityid="Maruti Suzuki India">Maruti Suzuki India</keyword> accounting for nearly 70 per cent of the <keyword id="21991720" type="General" weightage="20" keywordseo="incremental-shipments" source="keywords">incremental shipments</keyword> during the period. As per the industry data, passenger vehicle exports in the 2020-21 fiscal stood at 4,04,397 units. It rose to 5,77,875 units in the 2021-22 fiscal year and to 6,62,703 units in 2022-23 financial year. Last fiscal, exports stood at 6,72,105 units, an increase of 2,67,708 units since 2020-21. In the last three fiscal years, <keyword id="19909974" type="General" weightage="20" keywordseo="Maruti-Suzuki" source="keywords">Maruti Suzuki</keyword> has accounted for 70 per cent of the incremental 2,67,708 units across the industry which were shipped to overseas markets. The auto major's export shipment increased by 1,85,774 units between FY21 and FY24. When contacted, <keyword id="21223168" type="General" weightage="20" keywordseo="maruti-suzuki-india-executive" source="keywords">Maruti Suzuki India Executive</keyword> Officer Corporate Affairs Rahul Bharti said that factors like addition of more models, adherence to global production standards and tie-up with Toyota have helped in ramping up the exports' volume. He noted that the company is currently exporting models to around 100 nations across the globe. Top overseas markets for the company currently are South Africa, Saudi Arabia, Chile and Mexico. Other major markets include the Philippines, Indonesia and Ivory Coast. MSI exports models like Baleno, Dzire, Swift, S-Presso, Grand Vitara, Jimny, Celerio and Ertiga. As per SIAM data, overall <keyword id="21991650" type="General" weightage="20" keywordseo="PV-exports" source="keywords">PV exports</keyword> stood at 6,72,105 units in FY24, an increase of 1.4 per cent over 6,62,703 units in FY2023. MSI exported 2,80,712 units last fiscal, an increase of 10 per cent over 2,55,439 units in FY23. Rival Hyundai shipped 1,63,155 units in FY24 as compared with 1,53,019 units in FY23, an increase of 7 per cent.

Passenger vehicle exports rise by 2.68 lakh units in last 4 years; Maruti accounts for 70% of incremental shipments

The <keyword id="20647188" type="General" weightage="20" keywordseo="Indian-badminton-players" source="keywords">Indian badminton players</keyword>, including <keyword id="20114899" type="General" weightage="20" keywordseo="PV-Sindhu" source="keywords" meta.keywordsubtype="org" meta.entityname="PV Sindhu" meta.hostid="153" meta.entityid="PV Sindhu">PV Sindhu</keyword>, have secured five quotas for the <keyword id="20201477" type="General" weightage="100" keywordseo="Paris-2024-Olympics" source="keywords">Paris 2024 Olympics</keyword> as per a 'Race to Paris' Ranking List' published by the sport's governing body, the <keyword id="21132918" type="General" weightage="20" keywordseo="Badminton-World-Federation" source="keywords" meta.keywordsubtype="org" meta.entityname="Badminton World Federation" meta.hostid="153" meta.entityid="Badminton World Federation">Badminton World Federation</keyword> (BWF). Former world champion PV Sindhu, a silver medalist from 2016 <keyword id="19933819" type="General" weightage="20" keywordseo="olympics" source="keywords">Olympics</keyword> and a bronze medalist from Tokyo 2020 Olympics, got her quota as she finished in 12th spot in the list that was published on Tuesday, as per Olympics.com. Players in the top 16 (up to two per country) of the men's and women's 'Race to Paris' Rankings, secured a spot for their national sides in Olympics. The qualifying period for the marquee multi-sport event started on May 1 last year and ended on April 28. A total of 35 shuttlers secured quotas through this list, which included quota places for continental representation. In the men's singles competition, <keyword id="20143143" type="General" weightage="20" keywordseo="HS-Prannoy" source="keywords" meta.keywordsubtype="org" meta.entityname="HS Prannoy" meta.hostid="153" meta.entityid="HS Prannoy">HS Prannoy</keyword>, ranked ninth and <keyword id="19895708" type="General" weightage="20" keywordseo="commonwealth-games" source="keywords">Commonwealth Games</keyword> champion <keyword id="20123154" type="General" weightage="20" keywordseo="Lakshya-Sen" source="keywords" meta.keywordsubtype="org" meta.entityname="Lakshya Sen" meta.hostid="153" meta.entityid="Lakshya Sen">Lakshya Sen</keyword>, ranked 13th, got their quotas for India in the Paris 2024 Olympics. The other two quotas for India came in doubles competition, with <keyword id="20007741" type="General" weightage="20" keywordseo="Chirag-Shetty" source="keywords" meta.keywordsubtype="org" meta.entityname="Chirag Shetty" meta.hostid="153" meta.entityid="Chirag Shetty">Chirag Shetty</keyword> and Satwiksairaj Rankireddy securing the third spot in the men's doubles list and Ashwini Ponappa and Tanisha Crasto finishing 13th in the women's doubles. Last year, Chirag-Satwik became the first-ever Indian doubles pair to become the world number one following their gold medal win in Asian Games Hangzhou last year. Ashwini and Crasto, secured the Abu Dhabi Masters and Guwahati Masters, two Super 100 championship titles and finished as runners-up in the Syed Modi International BWF Super 300 tournament. With a total of seven badminton quotas in total, India could field their joint-biggest badminton contingent in the Olympics, having played with seven shuttlers back in 2016 at Rio Olympics. (ANI)

Five Olympic 2024 quotas for Indian badminton players

<ul><li>Two-wheeler sales in December were driven by weddings and harvest payments to farmers. </li><li>Increased marketing, elections, crop prices and potential fuel price reductions can drive the 2W market in the long-term, says FADA. </li><li>The personal vehicle category continues to face high inventory challenges even as SUVs see good traction. </li></ul>The two wheeler industry looks to be on the upshift mode after reporting a sharp rise in sales in December. The category grew 28% year on year, outpacing the entire auto retail for the month which grew at 21% in the same period as per a release by Federation of Automobile Dealers Association (FADA). Moreover, the first half of the year looks promising with multiple tailwinds. In December, the two-wheeler sales were driven by an abundance of wedding dates and the distribution of harvest payments to farmers, which enhanced purchasing power. “The availability of a wide range of models and variants, coupled with favourable weather conditions and a generally positive market sentiment, contributed to this robust growth,” said Manish Raj Singhania, president of FADA. Now, increased marketing efforts, buzz around general elections, possible good crop prices and potential fuel price reductions are short-term drivers that will push demand post mid-January. This as the inauspicious Kharmas period, that started on December 16 will end on January 15. In the long-term, festivals, robust wedding season in the first quarter of 2024, is also expected to push demand. “The sector expects a boost from new model launches, especially in the first half of the year, and an overall better economic condition coupled with higher EV participation. Improved customer sentiments, due to factors like lower fuel prices and crop payments to farmers, are likely to drive demand,” FADA says. All India vehicle retail data for December 2023 <table style="border-width: initial; border-style: none;"></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;overflow:hidden;overflow-wrap:break-word;">Category </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;overflow:hidden;overflow-wrap:break-word;">December 2023 </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;overflow:hidden;overflow-wrap:break-word;">% change YoY </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;overflow:hidden;overflow-wrap:break-word;">Two wheelers </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;overflow:hidden;overflow-wrap:break-word;">14,49,693 </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;overflow:hidden;overflow-wrap:break-word;">27.56% </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;overflow:hidden;overflow-wrap:break-word;">Three wheelers </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;overflow:hidden;overflow-wrap:break-word;">95,449 </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;overflow:hidden;overflow-wrap:break-word;">36.40% </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;overflow:hidden;overflow-wrap:break-word;">PV </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;overflow:hidden;overflow-wrap:break-word;">2,93,005 </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;overflow:hidden;overflow-wrap:break-word;">2.65% </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;overflow:hidden;overflow-wrap:break-word;">Tractors </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;overflow:hidden;overflow-wrap:break-word;">78,872 </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;overflow:hidden;overflow-wrap:break-word;">0.2% </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;overflow:hidden;overflow-wrap:break-word;">Commercial Vehicles </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;overflow:hidden;overflow-wrap:break-word;">73,896 </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;overflow:hidden;overflow-wrap:break-word;">1.31% </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;overflow:hidden;overflow-wrap:break-word;">Total </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;overflow:hidden;overflow-wrap:break-word;">19,90,915 </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;overflow:hidden;overflow-wrap:break-word;">21.14% </td></tr></tbody></table>Source: FADA PVs: The stress of inventory overhang The sales of passenger vehicles (PV) paled in comparison to 2Ws and three-wheelers, growing by 3% year on year in December. The PV category continues to face challenges with high inventory levels, despite a slight decline observed at the end of December. The average inventory for PVs ranges from 55-58 days, while the same stands at 15-20 days for 2Ws. “A significant concern was the high inventory levels, reflecting over-supply. This ongoing issue of high PV inventory, despite a slight decrease by the year's end, remains a critical area for OEMs to address, emphasizing the need for further moderation in inventory management," said Singhania. Within PVs however SUVs saw strong demand, with extended waiting periods for key models. This surge was fuelled by aggressive year-end promotions and the introduction of new models. In the short-term, the sector will have to focus on clearing pending bookings and launching new 2024 models. Despite concerns over high inventory levels and the impact of year-end discounts, positive market sentiments and the introduction of new models are likely to drive growth, FADA says. New launches, stable market sentiments and many OEMs launching their EVs should keep the PV market busy in 2024. “However, caution should be exercised regarding excess inventory as well as the need to match production with actual market demand,” says FADA.

Shifting gears: Election and crop payments to drive 2-wheeler sales in first half of 2024

<ul><li>The passenger vehicle wholesales in India rose to its highest level in any quarter so far in the July-September period.</li><li>The Overall passenger vehicles (<keyword id="163296" type="General" weightage="20" keywordseo="pv" source="Orion">PV</keyword>) dispatches from automakers to dealers rose to 10,74,189 units.</li><li>Total two-wheeler dispatches declined to 45,98,442 units in July-September 2023.</li></ul> The passenger vehicle wholesales in India rose to its highest level in any quarter so far in the July-September period riding on the back of robust demand for utility vehicles, industry body <keyword id="1577311" type="General" weightage="80" keywordseo="society-of-indian-automobile" source="Orion">Society of Indian Automobile</keyword> Manufacturers (<keyword id="108827" type="General" weightage="20" keywordseo="siam" source="Orion">SIAM</keyword>) said on Monday. The Overall passenger vehicles (PV) dispatches from automakers to dealers rose to 10,74,189 units in July-September 2023-24, up 4.7% from 10,26,309 units in the same period of 2022-23. It is also the first time ever that the domestic PV wholesales have crossed the 20 lakh mark in the first half (April-September) period of any financial year. "The sales growth in the PV segment is being fuelled by strong demand for the utility and sports utility vehicles. The vertical is now accounting for around 60% of the overall sales," Society of Indian Automobile Manufacturers (SIAM) President <keyword id="230167" type="General" weightage="80" keywordseo="vinod-aggarwal" source="Orion">Vinod Aggarwal</keyword> told reporters here. Sales of entry level cars however continue to dip, he added. The entry level car wholesales dropped to 35,000 units in the second quarter as compared to the peak of 1.38 lakh cars in July-September 2018-19, Aggarwal said. Similar trend is there in the entry level two-wheeler segment with rural demand yet to pick up fully, he added. In the first six months of the fiscal, total PV wholesales rose to 20,70,163 units from 19,36,804 units. Aggarwal said passenger vehicles, three-wheelers, and commercial vehicle segments continued to witness growth in the second quarter of 2023-24, although two-wheeler wholesale numbers posted a marginal de-growth, compared to the same period of last year. Total two-wheeler dispatches declined to 45,98,442 units in July-September 2023 as against 46,73,931 units in the year-ago period. Commercial vehicle dispatches rose to 2,47,929 units from 2,31,991 units in the year-ago period. Total three-wheeler wholesales surged to record 1,95,215 units in the second quarter as compared with 1,20,319 units in the same period last fiscal. In the September quarter, overall sales rose to 61,16,091 units from 60,52,739 units in the second quarter of 2022-23. "As we get into the festival season, all segments of the industry are optimistic and look towards posting good numbers in Q3 as well," Aggarwal said. This growth in the automobile sectors can be attributed to the all-round economic growth of the country, which is also enabled through the conducive government policies, he added. In September, PV dispatches increased by 2% year-on-year to 3,61,717 units as compared with 3,55,043 units in September 2022. Similarly, two-wheeler sales increased to 17,49,794 units last month from 17,35,199 units in the year-ago period, SIAM said. Total three-wheeler wholesales rose to 74,418 units last month from 50,626 units in September 2022. Total dispatches last month were up at 21,41,208 units from 20,93,286 units in September 2022. With inputs from PTI. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/samsung-galaxy-z-flip-5-vs-oppo-find-n3-flip-comparison-of-two-best-flip-mobiles-in-india/slidelist/104462471.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/samsung-galaxy-z-flip-5-vs-oppo-find-n3-flip-comparison-of-two-best-flip-mobiles-in-india/slidelist/104462471.cms" target="_blank">Flip-phone battle – Samsung Galaxy Z Flip 5 vs Oppo Find N3 Flip</a><a href="https://www.businessinsider.in/india/news/explained-how-to-lock-and-unlock-your-aadhaar-biometrics-to-prevent-frauds/articleshow/104462114.cms" target="_blank"></a> <a href="https://www.businessinsider.in/india/news/explained-how-to-lock-and-unlock-your-aadhaar-biometrics-to-prevent-frauds/articleshow/104462114.cms" target="_blank">Explained: How to lock and unlock your Aadhaar biometrics to prevent frauds</a><a href="https://www.businessinsider.in/tech/mobile/news/oneplus-open-foldable-phone-to-launch-in-india-soon-everything-we-know-so-far/articleshow/104338437.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-open-foldable-phone-to-launch-in-india-soon-everything-we-know-so-far/articleshow/104338437.cms" target="_blank">OnePlus Open foldable phone to launch in India soon – everything we know so far</a>

Passenger vehicle sales touch highest ever quarterly mark in July-Sep: SIAM

<ul><li>Overall <keyword id="46211" type="General" weightage="90" keywordseo="auto-sales" source="Orion">auto sales</keyword> decline 12.6% year-on-year in October, but sales surpass highs of 2017 <keyword id="48284" type="General" weightage="50" keywordseo="navratri" source="Orion">Navratri</keyword> by 18% in 2023, shows <keyword id="354719" type="General" weightage="80" keywordseo="fada" source="Orion">FADA</keyword> data.</li><li>The <keyword id="163191" type="General" weightage="60" keywordseo="two-wheeler-sales" source="Orion">two-wheeler sales</keyword> are up 15% in the same period. Strong rural demand and higher liquidity during elections to support demand in coming months.</li><li>The commercial vehicle segment experienced robust bookings and a positive uptake in retail sales, buoyed by festive cheer and strategic price support.</li></ul>Retail auto sales in October grew by a healthy 13% month-on-month but declined 12.6% year-on-year, according to data released by the Federation of Automobile Dealers Associations. Even though a like to like comparison is not correct as the first half of the month of October fell during the inauspicious Sharddh period. However, auto sales during the Navratri of 2023 have surpassed the peak sales seen during 2017 by 18%. While bookings portray a healthy trend, FADA has expressed concerns about the build up of inventory in the passenger vehicle segment, which now stands between 63-66 days. Commenting on October retail sales data, FADA President, Manish Raj Singhania, said: "The month commenced under the shadow of the inauspicious Shraddh period, persisting until the 14th. Consequently, a YoY comparison may not accurately reflect the actual trajectory of growth in the Indian Auto Retail sector. When compared month-on-month, auto retail sales flourished, achieving a 13% increase, with contributions from all categories. Two-wheelers, three-wheelers, passenger vehicles, tractors, and commercial vehicles expanded by 15%, 2%, 7%, 15%, and 10%, respectively, underscoring the sector's robust growth momentum.” The road ahead may be a tad slippery for passenger vehicles. A survey done by the industry association shows that the passenger vehicle segment is going through a tricky phase. While there may be a spike of bookings during the festive days, the shadow of year-end discounts looms over immediate sales. High inventory levels in PVs, at a critical 63-66 days range, demand urgent attention from OEMs. <div type="image" title="FADA Oct" msid="105005299" hostid="261" sizebytes="68292" caption="&amp;lt;p&amp;gt;&amp;lt;em&amp;gt;Data from F&amp;lt;/em&amp;gt;ADA October report&amp;lt;/p&amp;gt;"></div> The association has said that without substantial interventions and if Diwali sales don't rise to the occasion, the weight of unsold stock could lead to significant dealer distress, echoing FADA's concerns for potential industry-wide repercussions. Immediate and decisive action is imperative to counter the risk of a financial squeeze as the year closes. Despite the concerns expressed by dealers across India, the month of October has shown some positive signs. The two-wheeler category during the Navratri period holds promise as sales were buoyed by festive cheer and stronger rural demand. Enhanced availability of models, especially those in high demand from the previous year, along with better financial schemes, contributed to a solid market momentum. States going into elections also injected optimism into the market, leading to an increase in government spending and improved liquidity. Despite a shift in festival dates, with Diwali moving to November, the anticipation of the festive season stimulated purchase intent and dealers reported good stock preparation and robust ground efforts that led to an uptick in sales figures, showcasing a resilient and adaptive market. The 3W segment continued the uptick in demand during Navratri, largely driven by competitive finance options and a significant rise in e-Rickshaw interest, signalling a healthy move towards electrification. October continued this positive trend with robust market sentiments and festive celebrations contributing to increased customer bookings. The commercial vehicle segment experienced robust bookings and a positive uptake in retail sales, buoyed by festive cheer and strategic price support from manufacturers. The demand for light and small commercial vehicles surged, driven by infrastructure development activities and the need for vehicle replacement. Healthy demand was witnessed especially in segments like cement, iron ore and coal transport. The festive seasons, including Navratri, catalysed market activity, with customers taking advantage of favourable finance schemes. The PV segment navigated a complex landscape, marked by both enthusiasm and caution. During Navratri, despite regional variability, the industry witnessed a surge in bookings, buoyed by the introduction of compelling new models, particularly SUVs and the availability of attractive consumer offers. However, the impact of local elections and market saturation meant that the festive spirit didn't translate uniformly into sales across all regions. Throughout the month, the anticipation for Diwali in November and the launch of new models generated a steady demand. The period overall saw a resilient PV market, supported by a stronger product line-up unlike last year, when stock availability was a major issue."

Retail auto sales up 13% MoM in October, but high inventory levels in PV a concern

<ul><li>Sector watchers anticipate robust double-digit year-over-year revenue growth for most 4-wheeler companies </li><li>Analysts are optimistic about <keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword>’ profit margins due to strong JLR sales. </li><li>Sales volumes of two-wheelers (2W) have experienced a slight year-on-year decline. </li></ul>The <keyword id="46265" type="General" weightage="20" keywordseo="auto-sector" source="Orion">auto sector</keyword> has been recovering, albeit slowly, after the pandemic. The second quarter of the current financial year (FY2024) saw wholesale trends exhibit a mixture of outcomes, with most segments experiencing an increase in sales volumes. Three-wheeler (3W) sales showed a significant year-on-year (Y-o-Y) recovery, while passenger vehicles (PV) saw growth in the mid-single digits, according to the India Autos report by BNP Paribas. However, sales volumes of two-wheelers (2W) experienced a slight year-on-year decline. A closer look at retail volume market share shows that in the 2W segment, <keyword id="6359783" type="General" weightage="20" keywordseo="bajaj-auto" source="Orion">Bajaj Auto</keyword> lost 2.3 percentage points in market share when compared to the same period the year before, while Honda Motorcycle &amp; Scooter India lost 0.9% market share. Meanwhile TVS Motor Company and Suzuki gained market share by 1.7 and 1.1 percentage points respectively in the same time period. In the PV segment, <keyword id="50805" type="General" weightage="20" keywordseo="mahindra-and-mahindra" source="Orion">Mahindra and Mahindra</keyword>, Toyota and <keyword id="44883" type="General" weightage="20" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword> India gained market share of 1.6, 1 and 1 percentage points respectively year-on-year, while Tata Motors and Kia lost market share by 0.6 and 1.1 percentage points respectively. Experts anticipate robust double-digit year-over-year revenue growth for most companies, with the exception of Bajaj Auto and Hero MotoCorp Limited. Substantial volume growth in the last quarter has been observed, except for the 2W segments, which has allowed them to take advantage of operational efficiency and a favourable product mix. <cmsannotation type="cmsannotation" annotationid="Analysts are optimistic about Tata Motors’ profit margins" comment="Subhead" text="Analysts are optimistic about Tata Motors’ profit margins">Analysts are optimistic about Tata Motors’ profit margins</cmsannotation> Analysts at BNP Paribas are optimistic about Tata Motors' profit margins due to strong Jaguar Land Rover (JLR) sales. In regards to other companies, they expect mixed or in-line results when compared to consensus expectations. The analysts take a pessimistic stance on the two-wheeler (2Ws) sector, citing expectations of persistently low growth, subdued festive seasons, the disruptive influence of electric vehicles (EVs), and heightened competition that could negatively impact the sector's profitability. However, they express preference for passenger vehicle original equipment manufacturers (OEMs) such as Maruti Suzuki, Mahindra and Mahindra, as well as globally-oriented companies like Tata Motors. These companies are better positioned to achieve sales growth and maintain healthy margins during the economic upswing, particularly due to their disciplined pricing strategies. Price targets (TPs) for select stocks have been increased, taking into account the shift in their valuation basis to September 2024, recent demand trends, and the inclusion of valuation related to Hero MotoCorp's (HMCL) financing subsidiary. They highlight that Maruti remains their top choice among the investments. <cmsannotation type="cmsannotation" annotationid="Expectations for different automakers" comment="Subhead" text="Expectations for different automakers">Expectations for different automakers</cmsannotation> <cmsannotation type="cmsannotation" annotationid="Maruti Suzuki" comment="Subhead" text="Maruti Suzuki">Maruti Suzuki</cmsannotation> For Maruti Suzuki , analysts recommend a "BUY" with a target price set at ₹13,000, while the current price is at ₹12,700. This is based on a price-to-earnings (P/E) ratio of 29 times the estimated earnings per share (EPS) for September 2025. The target multiple remains the same, but it has been adjusted for the next quarter. The target multiple is based on the five-year average next twelve months (NTM) P/E, as per Bloomberg consensus estimates, to account for a gradual recovery in the demand cycle. The target price has increased due to the forward adjustment in valuation. <cmsannotation type="cmsannotation" annotationid="Mahindra &amp; Mahindra" comment="Subhead" text="Mahindra &amp; Mahindra">Mahindra &amp; Mahindra</cmsannotation> For Mahindra &amp; Mahindra, the recommendation is a "BUY" with a target price of ₹1,905 (current price: ₹1,930). The valuation includes a sum-of-the-parts (SoTP) approach, with a target multiple similar to that of Escorts for the Farm Equipment Sector (FES). In the automotive sector, the target multiple is also unchanged and rolled forward by a quarter. A holding company discount of 10% is applied, similar to Escorts. However, there's a 20% discount compared to peers Maruti Suzuki (MSIL) and Ashok Leyland (AL) due to concerns about automotive market share loss. The target price has slightly decreased due to earnings estimate cuts offsetting the roll-forward of the valuation. <cmsannotation type="cmsannotation" annotationid="Bajaj Auto" comment="Subhead" text="Bajaj Auto">Bajaj Auto</cmsannotation> For Bajaj Auto, the recommendation is "HOLD" with a target price of ₹4,900 (current price: ₹4,600). The valuation is based on a sum-of-the-parts (SoTP) approach using a 16x target multiple for Bajaj Auto's internal combustion engine (ICE) business in September 2025. The Electric Vehicle (EV) business is valued at 2.3x the estimated EV revenue for the same period. The target multiple for EV aligns with global EV companies' market cap/revenue multiples for December 2025. The target price has risen due to higher earnings estimates and a valuation base shift. Additionally, the value of Bajaj's stake in Pierer Bajaj AG, with holdings in PIERER Mobility AG, is included in the assessment. <cmsannotation type="cmsannotation" annotationid="Tata Motors" comment="Subhead" text="Tata Motors">Tata Motors</cmsannotation> Tata Motors gets a "BUY" recommendation with a target price of 770, mirroring the current price. The valuation relies on a sum-of-the-parts (SoTP) method, averaging various valuation methods, such as EV/Sales, EV/EBITDA, EV/EBIT, and P/E ratios. The multiples remain the same, but the valuation base is extended by a quarter. Different valuation multiples are applied to segments like JLR, China JV, Passenger Vehicles (PV), and Commercial Vehicles (CV), considering their estimated sales, EBITDA, EBIT, and EPS for September 2025. These multiples are benchmarked against similar companies, with target multiples discounted by 20% for JLR and China JV, and 50% for CV and PV. The Electric Vehicle (EV) business valuation is based on the last funding round average with a 30% discount, and the target price remains unchanged.

PV sales to shift gears courtesy festive season but 2-wheelers’ struggles to continue

New Delhi, Ace Indian shuttler <keyword id="501707" type="General" weightage="80" keywordseo="pv-sindhu" source="Orion">PV Sindhu</keyword> met <keyword id="6354427" type="General" weightage="80" keywordseo="apple" source="Orion">Apple</keyword> CEO <keyword id="191843" type="General" weightage="80" keywordseo="tim-cook" source="Orion">Tim Cook</keyword> at a launch event in California and shared photos of their interaction on social media. Apple unveiled its next-generation iPhones on Tuesday and the event held at the company's headquarters in Cupertino, US. The event was attended by none other than two -time Olympic medallist Sindhu. Taking to Instagram, Sindhu shared a selfie with Apple CEO and dubbed the moment "unforgettable" and also put up an offer to play <keyword id="30621" type="General" weightage="40" keywordseo="badminton" source="Orion">badminton</keyword> with Cook on his next visit to India. "An unforgettable moment meeting Tim Cook on keynote day at Apple Cupertino! Thank you for having me, Tim. It was a pleasure to see the stunning Apple Park and to meeting you! I will gladly take you up on the offer to play badminton when you visit India next," Sindhu wrote in a caption. In a separate post, the 28-year-old shared pictures from her interaction with Cook and wrote: "I find myself immersed in an #apple keynote event that promises innovation, excitement, surprises and of course a great conversation. Thank you Tim Cook". Apple on Tuesday debuted the new <keyword id="6354606" type="General" weightage="50" keywordseo="iphone" source="Orion">iPhone</keyword> series with four models -- iPhone 15, 15 Plus, 15 Pro and 15 Pro Max -- that come with industry-leading features. For the first time, the 'Make in India' iPhone 15 will be available from the day of the global sales (September 22). ALSO READ: <a href="https://www.businessinsider.in/tech/news/cameras-cars-and-octavia-spencer-all-things-fun-from-apples-wonderlust-event/articleshow/103623461.cms" data-type="tilCustomLink" target="_blank">Cameras, cars and Octavia Spencer – all things fun from Apple’s Wonderlust event</a> ALSO READ: <a href="https://www.businessinsider.in/tech/news/the-iphone-has-a-new-button-for-the-first-time-in-16-years-and-its-getting-rid-of-the-switch-its-had-since-day-1/articleshow/103617054.cms" data-type="tilCustomLink" target="_blank">The iPhone has a new button for the first time in 16 years and it's getting rid of the switch it's had since day 1</a>

You Searched For "pv" and got 12 results

Passenger vehicle retail sales dip 5% in August 2024; FADA raises alarm over rising inventory level

PTI

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

PTI

India's Lakshya Sen stuns world number 3 to secure pre-quarterfinal spot in men's badminton at Paris Olympics

BI India Bureau

Paris Olympics: PV Sindhu advances to round of 16 after beating Estonia's Kristin Kuuba

ANI

Paris Olympics: PV Sindhu opens campaign with dominant win over Fathimath Abdul Razzaq

PTI

Passenger vehicle exports rise by 2.68 lakh units in last 4 years; Maruti accounts for 70% of incremental shipments

PTI

Five Olympic 2024 quotas for Indian badminton players

ANI

Shifting gears: Election and crop payments to drive 2-wheeler sales in first half of 2024

Katya Naidu

Passenger vehicle sales touch highest ever quarterly mark in July-Sep: SIAM

BI India Bureau

Retail auto sales up 13% MoM in October, but high inventory levels in PV a concern

BI India Bureau

PV sales to shift gears courtesy festive season but 2-wheelers’ struggles to continue

BI India Bureau

PV Sindhu meets Tim Cook in California —offers badminton match to Apple CEO

IANS

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