Luxury car makers set to cross 50,000 sales mark
Despite slower growth in 2024, the Indian luxury passenger vehicle market is set to cross the 50,000-units sales mark for the first time. The segment has been growing for the last three calendar years on the back of robust demand. Key Points
The TribuneInnerwear sales indicate economic turnaround is here to come
Companies such as Page Industries and Arvind Fashions have reported a surge in inner wear sales, reflecting economic optimism. Increased footfall, better inventory management, and digital expansion contributed to this trend. With positive signs like slowing inflation and normal monsoon progress, the demand for men's underwear and overall inner wear hints at a broader economic recovery. Key Points
Economic TimesWhy is it raining car discounts? XUV700 to Safari, answer isn’t just the end of demand cycle
In mass-market cars, degrowth is in the hatchback and sedan segments where sales have cratered. For instance, sales of Maruti Suzuki’s Alto and S-Presso hatchbacks have slumped this year. Key Points
ThePrintTata Motors' passenger EV sales dropped 34 pc, overall PV sales dip 8 pc in June
New Delhi [India], July 1 (ANI): sales of Tata Motors’ passenger vehicles, including the electric vehicles, have slumped in the month of June and the corresponding quarter, data released by the automaker showed on Monday. The automaker sold 43,624 units in June, including the EVs, with an 8 per cent year-on-year decline. Coming to EV […] Key Points
ThePrintCar dealers may end up with 400K unit inventory
Carmakers in India are forecast to face a record stockpile of 400,000 vehicles worth ₹44,000 crore by the end of May, as demand cools after a three-year run of high sales. Passenger vehicle registrations are expected to fall by 5% in May from a year earlier, due to election-related uncertainties, the completion of marriage season, and heat waves in key markets, particularly Delhi NCR. Key Points
Economic Times
Oppo, Realme and OnePlus to have separate sales operations
China's BBK Group, the largest smartphone manufacturer, is breaking its sales structure for three brands, Oppo, Realme, and OnePlus, to de-risk the business under increased government scrutiny. The plan is to allow individual brands to have their own sales and marketing teams, ensuring they are not clubbed together in case of further government action. Key Points
Economic TimesSmall cars likely to stage a comeback by 2026 amid rising entry-level incomes, says Maruti Suzuki chairm
Maruti Suzuki chairman RC Bhargava anticipates a revival of small car sales by 2026, driven by rising income levels among entry-level consumers and the transition of scooter and motorcycle owners to cars. Despite a recent surge in SUV sales and a decline in small car demand, Bhargava believes that the affordability of small cars will become more manageable for buyers as their purchasing power increases. Key Points
Economic TimesEcommerce cart is half full as mass market crowds thin
Ecommerce sales grew 12-15% in Q1, slower than 2023. No major smartphone launches; fashion clearing inventory. Inflation affects online retail. Beauty brands show growth amidst sluggish market. Home furnishing and offline sales grow. Key Points
Economic TimesEcommerce growth slowing; Ola Electric’s debt funding
The decline was indicative of softer demand as order volumes shrunk, even as the uptake of expensive items helped keep up overall sales. However, month-on-month sales are improving, fueling hope that with the onset of summer, increased demand for certain categories could bolster full-year sales figures. Key Points
Economic TimesIndians’ electric love to power EV sales to a record
The sales surge would be propelled by falling battery prices and resultant product price cuts by some automakers, robust government support for eco-friendly vehicles, higher prices of fossil fuels and growing environmental awareness among consumers. Launch of new models by automakers is also helping attract new buyers into this segment. This years sales performance would mark a 67% jump from the 60,910 electric PVs sold in FY23. Key Points
Economic Times
4.2 million car sales may blast their way to record
Around 375,000-380,000 cars, sedans and utility vehicles are expected to be sold in India in March, up from 336,000 units a year earlier, making it the 15th consecutive month that PV sales have breached previous monthly records. For the first time, sport-utility vehicles are set to capture more than half of the passenger vehicle market in a year underscoring their growing popularity. Key Points
Economic TimesSmartphone sales may slow down on weak demand ahead of polls
Market trackers said tepid demand has dampened sales in the high-volume sub-₹20,000 price segment that was expected to revive this year led by budget 5G smartphones. According to Counterpoint Research, smartphone sales fell around 5% on year in January, with similar trends being observed for February. Key Points
Economic TimesE-Car sales fall to 5-month low in February despite steep price cuts
Electric car sales in India fell to their lowest level in five months in February despite price cuts. Lower acquisition cost alone is not enough to encourage buyers to shift to EVs. The government's FAME India scheme is set to end soon and may lead to further sales slowdown. Key Points
Economic TimesIT hardware sales may drop as govt pares expenditure
IT hardware sales in the commercial segment in the first half of the year are expected to be flat as compared to year-earlier levels of about 2.9 million units, a figure which was already comparatively weak. Key Points
Economic TimesPassenger vehicles industry to grow up to nine percent this fiscal, says ICRA
The report said that dealer inventories remain high despite strong retail sales, and the pace of growth is expected to taper off in the coming financial year. ICRA said that during the recently concluded festive season, retail sales grew six percent year-on-year. Key Points
Economic Times
FMCG cos think small to make it big during polls
Consumer goods companies in India are increasing stocks of small packs of biscuits, bhujias, chips, packaged water, and beverages costing ₹5 and ₹10 each by up to 10% across the country, anticipating a short-term spurt in sales during rallies and meetings coinciding with the upcoming general election. Senior executives at several fast-moving consumer goods (FMCG) companies are bullish of robust sales of small packs of such food products till elections. Key Points
Economic TimesHyundai sells 60,501 units in Feb: Records highest-ever Creta sales, SUV contribution nearly two-third
Hyundai Motor India sold 60,501 units in February 2024. Of this, domestic sales stood at 50,201 units, marking a notable 6.8 percent growth compared to the previous year. Exports, on the other hand, stood at 10,300 units. Hyundai Feb Sales: SUVs lead the charge Key Points
Times Of Indiasales of cars, sedans, utility vehicles see their best-ever February
As per industry estimates this is an increase of 11.3% over 335,324 units sold in the same period last fiscal. February 2024 was the third best month for passenger vehicle sales recorded in the domestic market ever. The highest-ever wholesale in a month was in January 2024 at 3,94,500 units, followed by October 2023 at 3,91,811 units. Key Points
Economic TimesUS stock markets: Best Buy shares soar nearly 8.1% on smaller-than-expected fall in Q4 sales
Best Buy reported sales at $14.65 billion for the fourth quarter, down from the $14.73 billion a year ago Key Points
mintTop brewer AB InBev hikes dividend, but no new share buyback
Anheuser-Busch InBev raised its annual dividend by 9% on Thursday, though analysts warned investors may be disappointed by the absence of a new share buyback and worse-than-expected U.S. sales. Key Points
Business Today
Mercedes-Benz says plug-in hybrids to 'stay relevant' amid EV demand slowdown
Mercedes-Benz said it now expects up to 50% of sales by the end of the decade to come from electrified cars. The carmaker has long said it was preparing for all-electric sales by 2030, but Chief Executive Ola Kaellenius cautioned towards the end of last year that even Europe would likely not be ready by then. Key Points
Economic TimesBajaj Auto, Hero, TVS, M&M, Tata Motor share price gain as Passenger Vehicles, Two-wheeler sales shine in January
Stock Market Today: Bajaj Auto, TVS, Hero MotoCorp, M&M share price gained more than 1% on Friday. Bajaj TVS, Hero reported 22-24% y-o-y growth in two-wheeler sales. M&M, Maruti, Tata Motors passenger Vehicle sales grew 12-30% y-o-y. Commercial Vehicles, Tractor however saw tepid sales growth. Key Points
mintPassenger vehicles see record wholesale deliveries
India Business News: The country's leading car manufacturers reported their best-ever monthly sales in the local market as wholesale volumes were up by more than 13% to 3,94,571 units in January. Top players such as Maruti Suzuki, Hyundai India, and Tata Motors reported strong sales in the month, indicating that demand continues to remain healthy. Key Points
Times Of IndiaCarmakers record best-ever monthly sales in January; Maruti, Hyundai & Tata lead from the front
Indian carmakers Maruti Suzuki, Hyundai Motor India, and Tata Motors reported their best-ever monthly sales in January, with volumes growing by over 13%. Maruti Suzuki sold 166,802 units, Hyundai Motor India sold a record 57,115 units driven by the newly launched Hyundai CRETA, and Tata Motors saw sales increase by 12%. Two-wheeler companies Honda Motorcycle & Scooter India and TVS Motor Company also reported significant growth. However, commercial vehicle sales were subdued, with Tata Motors experiencing a decline, and Mahindra Tractors reporting a 17% decline in sales. Key Points
Economic TimesSUV mania: Car companies poised for bumper January sales
Maruti Suzuki and Hyundai, the leading carmakers in the country, are set to achieve their best January sales driven by strong consumer demand, particularly for SUVs. Industry estimates suggest that over 375,000 vehicles will be dispatched this month, an increase of more than 8% compared to January 2023. The share of SUVs in the domestic market is expected to grow to 52-53% this year. The preference for SUVs has led to an increase in the average selling price of passenger vehicles in India. Maruti Suzuki and Hyundai are confident about the continued demand for the rest of the quarter. Key Points
Economic Times
Dr Reddy’s Q3 Results Preview: Profit may drop on lower Revlimid sales, higher costs
The drugmaker is expected to report a 1.1% YoY drop in consolidated net profit to Rs 1,247 crore, according to the average of estimates given by seven brokerages. The company is scheduled to release its quarterly earnings on Tuesday. Key Points
Economic TimesCar sales in India drive past 4-million mark in 2023
More than 4.1 million cars, sedans and utility vehicles were sold in the domestic market last year, an 8.2% increase from the 3.79 million vehicles sold in 2022, showed data from industry body Society of Indian Automobile Manufacturers (SIAM) issued on Friday. Growth was powered by demand for utility vehicles, which comprised 57.4% of total sales. Key Points
Economic TimesQ3 moped volumes up, UVs make up 62% of PV sales
Passenger vehicles and three-wheelers recorded record sales in Q3, while two-wheeler volumes rose 22.6%. Key Points
mintVehicle registrations zoom 21% in December
This growth in monthly registrations was a sharp pickup from the previous two years when the numbers had dropped - by 5.4% in December 2022 and 16.6% in December 2021. It has been driven by robust supply of vehicles, better promotional offers and increased consumer appetite to buy new cars, according to industry insiders. Key Points
Economic TimesIndia's fuel demand hits seven-month high in December
India's fuel consumption reached a seven-month high in December, reaching 20.054 million metric tons. Total consumption increased by 6.2% from 18.89 million tons in November, up 2.6% compared to the same period a year earlier. Diesel sales increased by 0.9%, while gasoline sales fell 4.5%. sales of bitumen, fuel oil, cooking gas, and naphtha also increased. Key Points
Economic Times
For Tata Motors PV business, vehicle registration data take driver’s seat for planning
Automakers in India have been following the practice of dispatching vehicles to their dealers on the basis of this retail performance, which doesnt always give the actual picture of on-ground sales. Since a vehicle is registered only when the buyer pays, registration numbers are the best indicator of the conclusion of the sales cycle, said people in the car retail business. Key Points
Economic TimesIndia's record car sales in 2023: Here's a look under the hood
The pandemic depressed the passenger vehicle market across the world. India emerged as the fastest-growing automobile market for a key reason. Semiconductor chips, important components for cars, went scarce due to the pandemic disrupting supply chains. And when the pandemic effect started waning, there was a big scramble for those chips. India was able to produce cars faster than other major markets because its cars have fewer chips. Key Points
Economic TimesCars and utility vehicles: 4,000,000 PV sales ride to a record high in 2023
Last month, carmakers reported a 4.4% rise in dispatches from factories at 287,904 units, the highest on record for December. Retail sales were substantially higher at 442,800 units, according to industry estimates, helping bring stocks down. The industry started the new year with an inventory of 176,500 units. Key Points
Economic TimesTaylor Swift rules the billboards again; gets the top four on the album sales chart for the first time
This achievement unfolds during a bustling week on the Top Album sales chart, reflecting the tracking period of Dec. 15-21, capturing the fervor of pre-Christmas shopping. The holiday season amplifies sales, buoyed by general festive purchases, retailer promotions, and special pricing. Key Points
Economic TimesIndian state banks to snap two-month streak of selling govt debt: Traders
These banks, typically the biggest buyers of government debt, have sold bonds worth Rs 14,380 crore ($1.73 billion) on a net basis so far in December, following sales of Rs 8,840 crore in November, clearing house data showed. Key Points
Economic Times
As year ends, apparel retailers flash sale signs to lure buyers
The fashion retail segment has been struggling with a demand slowdown since January this year due to inflationary headwinds. The overall growth slowed down to 6% in both March and April, according to the RAI, indicating the slowest sales expansion in more than 14 months and increasing marginally to 9% in August and September. Key Points
Economic TimesAuto companies log best-ever November sales on robust festive demand
The annual growth rate in wholesale despatches from factories to dealerships moderated to 3.7% compared with 15.9% growth in October, in absolute numbers, it hit a new high for November at 334,130 units, according to Society of Indian Automobile Manufacturers (Siam). Key Points
Economic TimesTaylor Swift's Eras tour could generate over $2 billion in revenue
Taylor Swift's 'Eras' Tour becomes the first billion-dollar grossing tour in music history, amassing $1.04 billion from ticket sales alone, aims for $2.0b. Key Points
Hindustan TimesIndia fuel demand falls 2% in November
Sales of diesel, which make up 40% of the overall volumes, contracted in November after rising by 6.6% in the April-October period. Diesel sales are driven more by commercial mobility as the share of diesel vehicles in passenger cars has significantly declined over the years. Key Points
Economic TimesAuto sector: A vroom story with room for more
High festive-season demand helped November notch up India’s largest monthly vehicle sales on record. Not just cars, two-wheelers too. Key Points
mint
18% on-year growth in November auto sales; Maruti Suzuki top PV seller, shows FADA data
As per FADA, 28.54 lakh vehicles were sold in November, creating a new record, surpassing the record of March 2020, when 25.69 lakh vehicles were sold due to the industry’s transition from BS-4 to BS-6 emission norms. Key Points
Business TodayJohnson & Johnson forecasts as much as 6% sales growth in 2024
Johnson & Johnson (JNJ.N) on Tuesday forecast revenue growth of 5-6% for the next year, as it banks on strong demand for cancer treatments Darzalex and Carvykti and resilient sales of blockbuster drug Stelara. Key Points
ReutersHero MotoCorp, Eicher Motors among key Nifty gainers as markets scale new highs. Two wheeler sales remain in fast lane.
Stock Market Today- Hero MotoCorp, Eicher Motors were amongst top Nifty gainers and Bajaj Auto saw gains post strong November volume numbers, on a day when Nifty scaled all time highs. Commercial vehicles and Passenger Vehicle sales remained a mixed bag. Key Points
mintNovartis raises sales growth target to 5% a year through 2027
Novartis (NOVN.S) has dialled up its sales growth target to 5% per year until 2027, citing demand for innovative drugs after the spin off of its generics business. Key Points
ReutersNMDC iron ore output jumps 17% in April-Nov 2023 period
India Business News: State-run iron ore miner NMDC Ltd delivered its best-ever November performance with a production of 3.38 million tonnes of iron ore and sales of 3.79 Key Points
Times Of India
At Balaji Wafers, get a taste of big things to come
The Rajkot-based company posted sales of Rs 5,010 crore for FY23, a 24% jump compared to Rs 4,034 crore a year earlier. In comparison, Jubilant Foodworks that operates Domino's pizza, Dunkin Donuts and Popeyes restaurants clocked Rs 5,158 crore in sales in FY23 while Nestle's prepared dishes and cooking aids division of Maggi noodles, sauces, seasonings, pasta and cereals had annual sales of Rs 5,300 crore. Key Points
Economic TimesVehicle registrations hit a festive record
Retail sales, indicated by vehicle registrations, surged by nearly 19% to a record 3.8 million units during the festive season, reflecting strong consumer demand. Federation of Automobile Dealers Association (FADA) data reveals 3,793,584 vehicles registered between Navratri and Bhai Dooj, a 19% increase from the 2022 period. sales growth was 21% in two-wheelers, 41% in three-wheelers, 8% in commercial vehicles and 10% in passenger vehicles. Key Points
Economic TimesEcommerce companies, brands line up for Black Friday rush
Online and offline markets in India are set to see sales growing by over 70% in the week of Black Friday this year when compared to business as usual (BAU) weeks, according to estimates from market research firm 1Lattice. In the US, Black Friday is the Friday after Thanksgiving. It's the busiest shopping day of the year and marks the start of the Christmas shopping season. The sale typically gets extended to the following Monday, called Cyber Monday. Key Points
Economic TimesBlack Friday sales: Desi fervour for a Western phenomenon a boost for Indian retailers
Black Friday is becoming a global phenomenon for brands to attract Indian consumers and boost sales. The rise in demand is particularly relevant for lifestyle products like consumer durables, IT products, garments, and wearable accessories. The Black Friday sales market in India is predicted to witness a CAGR of 37.4% by 2032. The push on Black Friday sales is largely driven by e-commerce, with companies witnessing higher traffic. Key Points
Economic TimesBTS’ Jungkook's GOLDEN surpasses Taylor Swift no. 1 spot on album sales chart
Jungkook's album 'GOLDEN' achieves 951,000 total equivalent sales, topping the sales chart. Taylor Swift's '1989 (Taylor's Version)' takes the runner-up spot. Key Points
Hindustan Times
India Vs Australia: With shots & deliveries, companies ready for World Cup Final
Bars and restaurants are creating Bleed Blue shots and Shami and Virat menus coupled with consumer promotions. Delivery platforms have asked companies to increase supplies of soft drinks and snacks in expectation of demand shooting up as fans gather at homes to watch the final together. Theatres, clubs and condominiums are hosting live screenings. Key Points
Economic TimesBig bullion sale: Gold shines amid festive fireworks
Demand for gold in the country increased about 7.7% by volume to an estimated 42 tonnes and 10% by value to ₹22,000 crore, according to the India Bullion and Jewellers Association (IBJA). Gold prices fell about ₹1,500 per 10 gm in two days to ₹60,400 per gm on Friday, helping drive sales. Key Points
Economic TimesAstraZeneca ups profit outlook on strong cancer drugs demand
AstraZeneca (AZN.L) raised its annual earnings forecast on Thursday, helped by strong demand for its cancer drugs, and reported third-quarter profit and revenue just ahead of analyst expectations even as COVID-19 vaccine sales evaporated. Key Points
ReutersHousing sales set to break three-year record this festive season
The October-December 23 quarter is poised to attract a substantial number of first-time buyers, with fence-sitting end-users expected to make decisions during the festive season,” said Anshuman Magazine, chairman & CEO-India, South-East Asia, Middle East & Africa, CBRE. “As the residential cycle matures amidst inflationary pressures, we have witnessed increasing demand in the mid-end and premium categories.” Key Points
Economic TimesIndia's Smirnoff vodka maker United Spirits Q2 profit rises on strong premium demand
India's United Spirits (UNSP.NS), which makes Smirnoff vodka, reported a 14.2% rise in second-quarter profit on Wednesday boosted by strong demand for its premium brands of alcohol. Key Points
Reuters
India's Barbeque-Nation posts second consecutive quarterly loss
India's Barbeque-Nation Hospitality (BARQ.NS) on Monday reported a loss for a second straight quarter, hurt by slowing demand and rising expenses. Key Points
ReutersWeak October car sales threaten inventory pile-up, warns Indian dealers' body
India's retail vehicle sales fell 7.7% from a year earlier in October, a dealers' body said on Monday, adding that a build-up of inventory of passenger vehicles (PV) was a cause for concern. Key Points
ReutersIndia's October auto sales rise 12.5% on month; Navratri sees record-breaking sales
In October, year-on-year auto sales in India declined by 8% due to the Shraddh period in the first half of the month. However, the Federation of Automobile Dealers Association (FADA) pointed out that this decline should not be a cause for concern, as sales increased by 13% from the previous month. Three-wheeler sales also reached a new high. Key Points
Economic TimesIndia's Tata Motors smashes Q2 profit estimates on strong JLR sales
India's Tata Motors (TAMO.NS) posted a bigger-than-expected second-quarterly profit on Thursday, as higher sales of its luxury Jaguar Land Rover (JLR) cars drove record revenue and boosted margins. Key Points
ReutersBritney Spears' memoir 'The Woman in Me' sells 1.1 million copies in the U.S. alone in first week-Entertainment News , Firstpost
The sales figures include pre-orders, print sales, e-books and audiobooks. “The Woman in Me,” released Oct. 24, has been praised by critics as a compelling account of her rise to global fame and her ongoing struggles Key Points
Firstpost