Further, rise in input cost also forced manufacturers to raise prices, which has furthered the slowdown in sales.
A total of 260,162 units were sold in October 2021, down 22 percent as compared to 333,981 units in October last year.
Normally, festive sales account for almost 40 percent of the annual sales. Wholesales (sales from carmakers to dealers) in October 2021 stood at 258,774 units, down a substantial 21 percent as compared to 325,965 units in October 2020.
Maruti Suzuki
The country’s largest passenger car manufacturer Maruti Suzuki India (MSI) posted a total sales (domestic + exports) stood at 138,335 units, down by 24.2 percent as compared to 182,448 units in the corresponding month last year.
In October 2021, total sales include domestic sales of 112,788 units, sales to other OEM of 4,225 units and its highest ever monthly exports of 21,322 units.
While the shortage of electronic components continued to affect the production of vehicles during the month, the company took measures to minimise the impact helping it sell more vehicles than what was expected at the start of the month.
In the domestic market, the sales figures comprise 21,831 units from the mini segment, which includes the Alto and S-Presso. The compact segment registered sales of 48,690 units. The compact space includes the Baleno, Celerio, Dzire, Ignis, Swift, Tour S, and WagonR.
The company’s mid-size sedan Ciaz could find only 1,069 buyers in October. The utility vehicle segment, which comprises the Ertiga, Gypsy, S-Cross, Vitara Brezza, and XL6, registered sales of 27,081 units.
On the other hand, a total of 10,320 copies of the Eeco were sold last month.
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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.
