Automakers are no longer staring at huge idle capacities, but are firing on all cylinders.
The festive season is here, and for the first time since 2012, auto manufacturers of all hues – especially passenger vehicle and two-wheeler makers – are celebrating. Already, September has yielded bumper sales and with the entire Navaratri period culminating in Dussehra, as well as Diwali, falling in October, this month and succeeding ones can only be better still.
Manufacturers are gasping to fulfil demand. All five of passenger car market leader Maruti Suzuki’s plants in the Gurgaon-Manesar manufacturing hub are working to full capacity. The company has delayed the launch of its new compact SUV Ignis to make more Balenos and Brezzas and thereby reduce the long waiting periods for these models. Hyundai’s Elantra sedan has booked 1,100 orders within a month of its debut in August, while its all new SUV Tuscan will hit the market in late October.
In two-wheelers, the industry achieved an all-time high production of 10 million units in the first six months of 2016/17, and expects the second half of the year to be still more buoyant. Overall sales rose 17 per cent in the first half of 2016/17. Sales were actually negative (-0.36 per cent)in the same period last fiscal. “Market sentiment has improved throughout the country,” says Pawan Munjal, Chairman and CEO of market leader HeroMoto Corp. “We will have 15 launches this year, three of them in the festive season.”
This story is from the Nov 06, 2016 edition of Business Today.
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 Nov 06, 2016 edition of Business Today.
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
Pension Scheme - Safety Net
The move to introduce the UPS has evoked mixed reactions. Analysts believe its funding will have limited impact on the fiscal math
The Reit Choice?
Real Estate Investment Trusts (Reits) Are Gaining Traction As Interest Rates Stabilise. But Returns Could Be Affected By Adverse Economic Conditions And Market Volatility
CORPORATE - Calling to Account
The sudden exit of Byju's auditor BDO marks the latest in a long series of setbacks for the edtech firm
EMPLOYMENT: Skills Push
The skill development ministry plans to partner with the UGC to improve the employability of undergraduates
Building on a Vision
L&T'S CHAIRMAN EMERITUS A. M. NAIK HAS BUILT A MAMMOTH ENTERPRISE THAT IS BUILDING A NEW INDIA, FROM ITS METRO RAIL SYSTEMS TO THE RAM TEMPLE
"KYS more important than KYC"
Vijay Kedia is a renowned equity investor; the value of his listed portfolio stands at around ₹1,750 crore
ROXX STAR
THE THAR ROXX COMBINES LUXURY WITH PERFORMANCE TO MAKE A STRONG STATEMENT IN THE MID-SIZE SUV SEGMENT
HIT THE GROUND RUNNING
Smartwatches have become indispensable tools for runners, offering real-time insights into pace, distance, heart rate, and more. Here are a few you can consider
TURNING THE TABLES
INDIA'S FURNITURE MARKET IS POISED FOR A GLOBAL TAKE-OFF. ALREADY, A HOST OF GLOBAL BRANDS HAVE MADE THE COUNTRY THEIR HOME, BUT INDIAN COMPANIES ARE NOT TOO FAR BEHIND
THE EVOLUTION OF ATHERA
IDENTIFYING OPPORTUNITIES IN ADVANCE HAS STOOD THIS BENGALURU-BASED VC FUND IN GOOD STEAD. NOW, WITH A HEIGHTENED FOCUS ON TECHNOLOGY, IT WANTS TO SUSTAIN THE SUCCESS