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June sees first decline in SUV sales in India in over five years amid economic challenges

Economic Times

Economic Times · 23d ago

June sees first decline in SUV sales in India in over five years amid economic challenges

In June, India experienced its first decline in SUV sales in over five years, with a 2.1% drop to 175,000 units due to economic challenges like IT sector layoffs and geopolitical uncertainties. SUV sales, which usually dominate the passenger vehicle market, reached 55% of total vehicle sales. Despite this, SUV sales for the first fiscal quarter grew by only 5.6%, marking a significant slowdown. Automakers like Maruti Suzuki and Mahindra remain optimistic about future growth.

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Your next car could cost more as price pressure grips India’s auto industry

Economic Times

Economic Times · 23d ago

Your next car could cost more as price pressure grips India’s auto industry

Rising commodity prices, especially steel, are prompting Indian auto companies to implement small price hikes to offset increased costs. While automakers are trying to manage expenses through cost reduction and product mix changes, analysts warn that continued inflation in raw materials could challenge the industry's sustainability. Despite these pressures, the overall impact on auto makers' profits remains limited due to strategic price increases. Additionally, SUV sales in India experienced their first decline in over five years, indicating market fatigue.

Tata Motors aims to match ICE rivals’ prices to revitalize its EV sales with new Curvv SUV | Mint

Livemint

Livemint · 1y ago

Tata Motors aims to match ICE rivals’ prices to revitalize its EV sales with new Curvv SUV | Mint

Tata Motors, India's largest passenger electric vehicle maker, has adopted an aggressive pricing strategy for its electric vehicles (EVs), matching them with prices of competing conventional vehicles. The move aims to boost the sales of Tata Motors' EVs amid a recent industry-wide decline in EV sales. The company's latest offering, the electric Curvv coupe SUV, is the first step in the plan to introduce more electric vehicles and move up the premium SUV segment. Tata Motors attributes the competitive pricing to decreasing battery costs and cost-saving measures.

Lucid sales inch forward as EV maker pushes to ramp Gravity production | TechCrunch

TechCrunch · 1m ago

Lucid sales inch forward as EV maker pushes to ramp Gravity production | TechCrunch

Lucid achieved a new sales record, delivering 3,309 vehicles in Q2, marking a 6% sales increase, while producing 3,863 vehicles. This progress is crucial for the EV maker as it strives to meet its annual production goal of 20,000 vehicles, having produced 6,075 in the year's first half. Challenges remain, including production ramp-up for the Gravity SUV and resolving supply chain issues, amid ongoing efforts to transition sales towards general consumers.

Tesla registrations in Denmark fall 61.6% year-on-year in June - The Economic Times

Economic Times

Economic Times · 1m ago

Tesla registrations in Denmark fall 61.6% year-on-year in June - The Economic Times

Tesla's new car registrations in Denmark significantly declined by 61.57% in June compared to the previous year, dropping to 1,282 vehicles, as reported by Mobility Denmark. This decline reflects broader challenges for Tesla, with sales also decreasing in Sweden by 64.4%. The downturn in sales coincides with increased competition in the EV market and ongoing disputes involving Tesla CEO Elon Musk. Tesla shares also fell by 5.6% in Frankfurt trading amid these challenges.

Ola expects auto business to be free cash positive by FY26-end: Bhavish Aggarwal - The Economic Times

Economic Times

Economic Times · 1m ago

Ola expects auto business to be free cash positive by FY26-end: Bhavish Aggarwal - The Economic Times

Ola Electric's automotive division aims to become cash positive by fiscal year 2026, despite a 50% decline in year-on-year operating revenue in the June quarter due to competitive pressures. The business reported positive EBITDA in June and plans to consume only an additional ₹400-500 crore in cash. Ola Electric is focusing on expanding its distribution network and product offerings while anticipating sales of 325,000-375,000 units in FY26, amid challenges from market competitors.

Apple's iPhone China shipments in February look even worse than estimated

Business Insider

Business Insider · 1y ago

Apple's iPhone China shipments in February look even worse than estimated

Apple's iPhone sales in China continue to decline, with a 33% drop in shipments in February compared to the same month in 2023. This follows a 39% decline in January. Counterpoint Research had previously estimated a 24% decline in iPhone sales in China during the first six weeks of the year. Apple is facing strong competition from Huawei, as well as challenges from government bans on iPhones and an economic slowdown. The company's CEO, Tim Cook, recently visited China in an attempt to strengthen ties in the country.

Tesla's July China-made EV sales fall 8.4% - The Economic Times

Economic Times

Economic Times · 24d ago

Tesla's July China-made EV sales fall 8.4% - The Economic Times

Tesla's sales of China-made EVs fell 8.4% in July compared to a year earlier, following a modest increase in June. Deliveries of its Model 3 and Model Y, including exports, totaled 67,886 vehicles, down 5.2% from June. This decline reflects intensified competition from rivals offering more affordable models. Despite ending an eight-month losing streak in June, Tesla still faced quarterly sales declines globally, amid weak demand and backlash against Elon Musk's political remarks.

Luxury car sales enter the slow lane in H1

Economic Times

Economic Times · 1m ago

Luxury car sales enter the slow lane in H1

Luxury car sales in India experienced slow growth in the first half of 2025 due to market volatility and geopolitical issues, with only a 1.8% increase over the previous year. Mercedes-Benz reported low growth, while Audi sales fell by 14% amid economic challenges. However, BMW saw a 10% rise in sales, fuelled by strategic planning. Despite fluctuations, the luxury segment is projected for moderate growth in 2025, owing to India’s expanding ultra-high-net-worth population.

RBI sold foreign exchange worth $3.66 billion in spot market in June

Economic Times

Economic Times · 6h ago

RBI sold foreign exchange worth $3.66 billion in spot market in June

The Reserve Bank of India (RBI) reported net sales of $3.66 billion in the spot foreign exchange market in June. This follows purchases of $1.16 billion and sales of $4.82 billion during the month. Compared to May, when the RBI bought a net $1.76 billion, the June activity contrasts with a rupee decline of 0.2% amid a widespread dollar downtrend. The RBI's actions aim to stabilize exchange rate volatility.

Tesla's European sales slump for fifth month

Economic Times

Economic Times · 2m ago

Tesla's European sales slump for fifth month

Tesla's car sales in Europe dropped by 27.9% in May, marking a five-month decline, despite a 27.2% overall rise in fully-electric vehicle sales. Tesla's market share fell to 1.2% as customers opt for cheaper Chinese electric vehicles. While new car sales in Europe rose 1.9%, driven by plug-in hybrids and alternative-fuel vehicles, Tesla's Model Y has not yet revived its fortunes amid increasing competition from Chinese and traditional automakers.

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