Toyota Kirloskar domestic sales drops 63% in June to 3,866 units
Toyota Kirloskar Motor (TKM) on Wednesday reported 63.53 per cent decline in domestic vehicle sales to 3,866 units in June against 10,603 units in the same month last year. In May this year, the company had sold 1,639 units in the domestic market.
Auto sales pick up in June, but down y-o-y
Major automobile manufacturers see big dip in June sales, though fared better as compared to May .
Toyota to move teams to low-rental offices
The automaker wants to spend less on real estate due to dwindling auto sales, and sedate market co...
Auto dealers now hit RTO hurdle
Dealers are not only stuck with commercial vehicles and two-wheelers conforming to phased-out BS4 emission norms, they’re not even able to get BS-6 vehicles registered.
Global PEs, auto parts majors look to buy ZF’s stake in TVS JV
Even though TVS could buyout the partner, global private equity players, international and a select set of home-grown auto component players are expected to join the fray to grab a large piece of India’s largest privately held auto components company that clocked over Rs 5,000 crore in sales in FY19.
Toyota Kirloskar Motor partially resumes retail & after-sales operations
The company announced the partial reopening of 171 dealership outlets, which are now functional.
Working closely with dealers to re-stimulate demand: Toyota
"As with many other sectors, with the closure of dealerships and manufacturing, the operation of the automotive value chain has come to a grinding halt," TKM Senior Vice President (Sales and Marketing) Naveen Soni said. These are critical times and the company was aware that there would be no wholesales in the month of April 2020, he added.
Auto majors struggle to convert online bookings to sales
Dealers are far from convinced about the digital strategy. While online enquiries have increased in the past few weeks, they’re not getting converted into sales, dealers said. “Web enquiries have overtaken walk-ins and are likely to continue post-Covid,” said Shashank Srivastava, ED, marketing & sales, Maruti Suzuki.
Covid-19 cases at factories don’t deter manufacturers
Several other manufacturers too said that even if there was an eventuality of employees testing positive, they will follow the standard operating procedures (SOP) and inform the local authorities, but production will continue.
Auto companies may roll out incentives to draw customers
Dealerships are set to reopen this week amid relaxations in parts of the country since a nationwide lockdown was imposed on March 25.
COVID-19 impact: Major automakers see demand for personal vehicles going up
Honda Cars India Ltd (HCIL) Senior Vice President and Director, Marketing and Sales, Rajesh Goel said that considering people will be extra careful against COVID-19, personal mobility will gain much more significance than shared mobility or public transport, and hence can contribute to sales.
Tata Motors, Ashok Leyland pitch for incentive-based scrappage policy to revive CV segment
Tata Motors and Ashok Leyland have said a well-defined and financial incentives-based scrappage policy can help create demand in the commercial vehicles (CV) segment which has come come to a grinding halt.
Toyota Kirloskar comes up with manual for resumption of industry operations post lockdown
The maker of Innova and Fortuner said that with possibility of manufacturing operations commencing from April 20, it has devised a comprehensive 'restart manual' as a guide for industries to follow post the withdrawal of the nationwide lockdown.
India's automakers warn of up to 45% sales drop as economy slumps amid pandemic
India's auto industry is already reeling, with sales of cars, SUVs, trucks and motorbikes falling 18% last fiscal year to 21.5 million vehicles due to an economic slowdown. The pandemic, which has seen businesses shuttered and people told to stay at home all over the world, is set to make things worse.
Fuel price hike dampens sales of diesel vehicles
The rise in diesel price has wiped out the gains from the lower running cost of diesel vehicles.
Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service