The new fiscal (2019-20) started off on a low note as leading auto makers posted de-growth in sales, owing to the ongoing elections, new regulations and unfavorable exchange rates. During April 2019, all car makers barring Honda has witnessed decline in their sales graph.
The country’s largest passenger car manufacturer, Maruti Suzuki India (MSI) has reported 19 percent decline in its total domestic sales at 133,704 units in April 2019. This is the highest dip faced by the company in monthly sales performance since December 2018.
The company sold 164,978 units in April 2018. Sales of passenger vehicles (PV) in the domestic market went down by 19.6 percent at 131,385 units as against 163,434 units in same month previous year. Within the PV segment, mini and compact cars, which include Alto, old and New Wagon R2, Swift, Celerio, Ignis, Baleno, Dzire, Tour S, saw sharp 22 percent dip at 94,912 units in April 2019.
Sales of utility vehicles (UV) registered a decent growth at 22,035 units last month as compared to 20,804 units in the April 2018. The commercial vehicle segment, however, witnessed a robust growth of 50.2 percent at 2,319 units in April 2019 as against 1,544 units in the year ago month.
During the month, the auto major also sold 364 units of Baleno to Toyota, which the later company has rebadged as Glanza. Maruti Suzuki’s overall exports grew 14.6 percent at 9,177 units in the first month of FY 2019-2020.
Poor domestic performance also dragged total sales (domestic + export) down by 17.2 percent at 143,245 units last month as compared to 172,986 units in April 2018.
The second-largest carmaker, Hyundai Motor India (HMIL) has witnessed the domestic sales of 42,005 units and exports of 16,800 units with cumulative sales of 58,805 units for the month of April 2019.
This story is from the May 2019 edition of Steel Insights.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the May 2019 edition of Steel Insights.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Steel's Net Zero mission
The country’s commitment to achieving Net Zero within a targeted timeframe will now propel its steel sector towards a sustainable future in line with global trends.
Fuel Price Hike, Supply Chain Disruption Hurt Festive Sales
Supply chain disruptions and fuel price hikes have hurt festive sales in a big way as most auto majors posted decline in sales in October.
Seaborne coking coal offers remain range-bound
Seaborne coking coal offers moved in a narrow range in October amid global supply tightness and healthy spot demand.
Global crude steel output down 8% in September
China manufactured 74 mt in September, fall of 21% y-o-y while India’s production went up by 7% to 10 mt.
MOIL embarks on expansion projects
“Even though our country is blessed with manganese ore reserves, we import 50% of the domestic requirement. We have to lower our import dependence and save precious foreign exchange.” Ram Chandra Prasad Singh, Steel Minister
Iron ore handled by major ports down 17% in H1
The 12 major Indian ports handled 27 mt of iron-ore during H1 of 2021, down by 17% from 33 mt recorded for the corresponding period of previous year.
Shrinking China output to boost India exports
“In the third quarter of 2021, the company actively responded to the pressure from external policies, such as production curtailment and dual control system on energy consumption and intensity, as well as coal resource shortage and surging prices.” Baoshan Iron and Steel Co Ltd
Indian Railways' iron-ore handling up 25% in H1
Indian Railways in April-September of 2021 (H1) transported 84 mt of iron ore, up by 25% over 67 mt during April-September 2020.
September crude steel production up 7.2% y-o-y
India’s crude steel production in September 2021 grew 7.2 percent to 9.547 million tons (mt) over September 2020 but was down by 3.2 percent from August 2021 output, provisional steel ministry data showed.
“Five enablers: way forward to sustainable cleaner steel”
Right and scalable technology, appropriate policy guidance by government, access to finance to fund transition, willingness of customers to pay for cleaner products and infrastructure for use of new technologies are the need of the hour for the sustainable and cleaner steel industry, according to Madhulika Sharma, Chief Corporate Sustainability, Tata Steel.
