Sluggish sales and high dealer inventory have not stopped carmakers from gearing up for a major product offensive in the upcoming festival season. As many as 20 new passenger vehicle models — including 12 entirely new offerings — are set to hit Indian roads by October end, with automakers pinning their hopes on the launches … Read more
PURI: Excitement filled the air in Puri town on Sunday as people eagerly awaited the unveiling of what’s inside the Ratna Bhandar, the sacred and spiritual treasury of Lord Jagannath, which is surrounded by many legends. The atmosphere was charged with a mix of apprehension and enthusiasm among the devotees during the opening of the … Read more
Carmakers expect to face a record stockpile of 400,000 vehicles worth ₹44,000 crore by this month-end as demand cools in India after a 3-year run of scorching sales. With car despatches to dealers outpacing demand, passenger vehicle registrations, taken as a proxy for retail sales, are also expected to fall by 5% in May from … Read more
Fisker is in a state of disarray right now. The company continues to inch closer to bankruptcy, and the only car it sells right now, the Ocean EV, just had prices on its remaining inventory heavily slashed as the automaker attempts to move more metal in the face of falling stock prices. What’s been going on … Read more
Oil prices ticked higher on Wednesday, as growth in U.S. oil production is expected to remain largely steady through 2025, easing worries of excess supply. Brent crude futures rose 38 cents, or 0.5%, to $78.97 a barrel as of 0013 GMT, while U.S. West Texas Intermediate crude climbed 41 cents, or 0.6%, to $73.72. Both … Read more
“As a result, you will always find that December wholesales are low, retails are high. That is what happened in December and January therefore, the inventory pipeline is normally empty,” says Shashank Srivastava, Senior Executive Officer (Marketing and Sales), Maruti Suzuki India. Let us discuss the sales numbers because the Jan sales have been higher … Read more
Vehicle registrations – a proxy for retail sales – rose 9% to 1,818,647 units last month on healthy customer demand in the run-up to the festive season. The Federation of Automobile Dealers Association (FADA) is cautiously optimistic of momentum sustaining on the back of new vehicle launches and early signs of revival in rural markets. … Read more