{"id":9528,"date":"2024-10-24T11:22:34","date_gmt":"2024-10-24T11:22:34","guid":{"rendered":"https:\/\/shoonya.com\/blog\/?p=9528"},"modified":"2024-10-24T11:22:35","modified_gmt":"2024-10-24T11:22:35","slug":"automobile-industry","status":"publish","type":"post","link":"https:\/\/shoonya.com\/blog\/automobile-industry\/","title":{"rendered":"Automobile Industry exports jumped, domestic demand low ahead of festivals"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_87 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\"><p class=\"ez-toc-title\" style=\"cursor:inherit\"><\/p>\n<\/div><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/shoonya.com\/blog\/automobile-industry\/#Automobiles_Sector_in_the_Last_six_months\" >Automobiles Sector in the Last six months&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/shoonya.com\/blog\/automobile-industry\/#Factors_Affecting_the_Automobile_Sector\" >Factors Affecting the Automobile Sector<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/shoonya.com\/blog\/automobile-industry\/#Segment-Wise_Export_Performance\" >Segment-Wise Export Performance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/shoonya.com\/blog\/automobile-industry\/#Festive_Outlook_for_the_Auto_Sector\" >Festive Outlook for the Auto Sector&nbsp;<\/a><\/li><\/ul><\/nav><\/div>\n<div class=\"yoast-breadcrumbs\"><span><span><a href=\"https:\/\/shoonya.com\/blog\/\">Home<\/a><\/span> \u00bb <span><a href=\"https:\/\/shoonya.com\/blog\/latest-news\/\">News<\/a><\/span> \u00bb <span class=\"breadcrumb_last\" aria-current=\"page\"><strong>Automobile Industry exports jumped, domestic demand low ahead of festivals<\/strong><\/span><\/span><\/div>\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The automobile Industry and this festive season have a great tuning. Usually, demand picks up for automobiles during these festives. However, this year seems sluggish for the auto sector but automobile manufacturers are hopeful about the festive sales. Let&#8217;s see how the Indian automobile industry is performing and what factors are playing a significant role here.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-automobiles-sector-in-the-last-six-months-nbsp\"><span class=\"ez-toc-section\" id=\"Automobiles_Sector_in_the_Last_six_months\"><\/span>Automobiles Sector in the Last six months&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Domestic sales in the past six months of the year have also been slower with a significant 9.26% decline in September on a YoY basis.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td>Month<\/td><td>Sales Volume (units) 2024<\/td><td>Sales Volume (units) 2023<\/td><\/tr><tr><td>April<\/td><td>287746<\/td><td>284271<\/td><\/tr><tr><td>May<\/td><td>300795<\/td><td>288369<\/td><\/tr><tr><td>June<\/td><td>294233<\/td><td>280252<\/td><\/tr><tr><td>July&nbsp;<\/td><td>296785<\/td><td>302521<\/td><\/tr><tr><td>August&nbsp;<\/td><td>308779<\/td><td>313715<\/td><\/tr><tr><td>September&nbsp;<\/td><td>315689<\/td><td>316908<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">While in the first 3 months of FY25, the sales were marginally higher on a YoY basis, in the past three months, the units of automobiles sold were lower than the sales volume of FY24\u2019s same period.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">While the first six months of this fiscal show a decline in the overall sales volume, the exports in this period have risen on the contrary. The <strong>automobile exports <\/strong>have gone up by 14% during this period, while in FY24, the overall automobile exports declined by 5.5% owing to the monetary crises in different parts of the world.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-factors-affecting-the-automobile-sector\"><span class=\"ez-toc-section\" id=\"Factors_Affecting_the_Automobile_Sector\"><\/span>Factors Affecting the Automobile Sector<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Different factors have affected the demand in the <strong>automobile market<\/strong>. It is primarily owing to the geopolitical concerns that are driving the fuel prices volatile. Fuel prices have a significant impact on the automobile sector and thus sluggish demand was noticed during the previous months.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Apart from geopolitical concerns, and fuel prices, it is the weather conditions that also affect the sales. Heavy rainfall this year affected many sectors and the livelihood and income of people. This took a toll on auto sales too as the overall economy became sluggish.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On the contrary, the rising exports resulted from the higher demand for <strong>passenger vehicles, <\/strong>and key markets like Latin America, and Africa, which were in FY24 experiencing monetary crunches, have now rebounded. This has mainly added to the export sales number.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-segment-wise-export-performance\"><span class=\"ez-toc-section\" id=\"Segment-Wise_Export_Performance\"><\/span>Segment-Wise Export Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Export of passenger vehicles rose by 12% YoY during the first six months of FY25.\u00a0<\/li>\n\n\n\n<li>Two-wheeler exports surged by 16% YoY for the period April to September 2024<\/li>\n\n\n\n<li>Scooter shipments rose by 19% during the period\u00a0<\/li>\n\n\n\n<li>Commercial vehicle exports grew by 12% between April and September. 2024.\u00a0<\/li>\n\n\n\n<li>Three-wheeler sales witnessed a decrease of 1% for the same period on a YoY basis.\u00a0<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-festive-outlook-for-the-auto-sector-nbsp\"><span class=\"ez-toc-section\" id=\"Festive_Outlook_for_the_Auto_Sector\"><\/span>Festive Outlook for the Auto Sector&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">While demand for automobiles goes up during the festivals, in this fiscal, during Onam and Ganesh Chaturthi, which marks the beginning of the annual festive season in India, the demand didn\u2019t surge as expected by the <strong>automobile manufacturers<\/strong>.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The declining sale has made the inventory go up massively to an average of 80-85 days which means around 79000 vehicles are in the inventory. The automakers remain hopeful for growing demand and sales with the upcoming Diwali festival but if the sales do not pick up then with a time-high inventory, the automakers, and dealers, will be facing financial pressure.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Source: <a href=\"https:\/\/www.livemint.com\/market\/stock-market-news\/nifty-auto-plunges-7-7-in-just-5-sessions-tvs-motor-bajaj-auto-fall-up-to-113-11728288562186.html\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#d79b30\" class=\"has-inline-color\">Mint<\/mark><\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">______________________________________________________________________________________<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/shoonya.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#d79b30\" class=\"has-inline-color\">Disclaimer<\/mark><\/a>: Investments in the securities market are subject to 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Usually, demand picks up for automobiles during these festives. However, this year seems sluggish for the auto sector but automobile manufacturers are hopeful about the festive sales. Let&#8217;s see how the Indian automobile industry is performing and what factors are playing a significant role &hellip; <a href=\"https:\/\/shoonya.com\/blog\/automobile-industry\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Automobile Industry exports jumped, domestic demand low ahead of festivals&#8221;<\/span><\/a><\/p>\n","protected":false},"author":16,"featured_media":9529,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_members_access_role":[],"_members_access_error":""},"categories":[1082],"tags":[5647,5646,5648,4235,5649],"class_list":["post-9528","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","tag-automobile-industry","tag-automobile-industry-growth-in-india","tag-automobile-manufacturers","tag-indian-automobile-industry","tag-passenger-vehicle"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Automobile Industry having mixed demand ahead of festivals - Find out why<\/title>\n<meta name=\"description\" content=\"The automobile industry facing the pressure of inventory surge due to sluggish demand. However, exports rose during the first six months. All eyes are on the festive season sale.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/shoonya.com\/blog\/automobile-industry\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Automobile Industry having mixed demand ahead of festivals - Find out why\" \/>\n<meta property=\"og:description\" content=\"The automobile industry facing the pressure of inventory surge due to sluggish demand. However, exports rose during the first six months. 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