Notwithstanding robust demand, passenger vehicle (PV) sales in November remained in the slow lane. Semiconductor shortage continued to cripple production. With supply-side issues easing month-on-month, the worst seems to be behind, observe industry executives. They, however, remain noncommittal on the time frame for production returning to normal. Overall PV sales during the month declined 14 per cent to 286,000 units, compared with 246,000 units a year ago, reveal industry estimates.
PV sales rose 12.73 per cent YoY in November 2020 to 285,367 units, against 253,139 units in the same month in 2019.
Car market leader Maruti Suzuki India's (MSIL's) November sales in the domestic market slipped 19 per cent to 109,726 units, against 135,775 units in the same month last year, due to shortage of electronic components, the company said in a statement.
The overall sales in the PV segment were dragged down by the sale of the mini and compact models that saw volumes crimp to 74,492 units, against 98,969 units in the same month last year.
This story is from the December 02, 2021 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 02, 2021 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
FY24 credit card spends rose 27%
Increased to ₹18.26 trillion from nearly ₹14 trillion a year ago
DCB Bank Q4 profit rises 9%
Private lender DCB Bank's net profit rose by 9 per cent year-on-year (Y-o-Y) to 156 crore for the quarter ended March (Q4FY24) on the back of a modest rise in net interest income (NII) and a decline in provisions.
Axis Bank back in black with ₹7,129 cr Q4 profit
NII grew 11% to ₹13,089 cr, while fee income grew by 23% to ₹5,637 cr
Growth businesses hold the key for Tata Consumer
Tata Consumer Products reported Q4 results which were more or less in line with analyst consensus but disappointed the market.
Financialisation of savings drives up demat a/cs in Ladakh
Mizoram & Lakshadweep also see spike in demat account registrations
KRAS: Over 73% of KYC records are validated
Know-your-customer (KYC) registration agencies said on Wednesday that 73 per cent of the 108.3 million KYC records were validated as of March 31, 2024, and that the system was in place for the rest of the investors to validate their KYC.
Proxy advisory firms give TaMo DVR conversion plan the thumbs up
Move, they say, will simplify capital structure and eliminate price discount
Call for caution on micro, small, midcap stocks amid sharp run-up
Shares of smallcap companies continued their upward march from the March 2024 lows, with the S&P BSE Smallcap index hitting a new high of ₹46,958.21 on Wednesday in intraday trade.
Calcutta HC's SSC order heats up the election classroom
Political analysts believe cancelling of 25,753 appointments will have serious ramifications
Wanted: An executive to repair Boeing
When Boeing named Stephanie Pope to the new position of chief operating officer in December, the move was widely viewed as a sign that she might succeed the company's chief executive, Dave Calhoun, in the next few years.
