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Auto sales recovery continued in August driven by festive push

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The retail of automobiles continued to recover in August and the deficit with last year’s sales levels came down significantly as demand improved during festivals like Ganesh Chaturthi and Onam, showed vehicle registration data.

Vehicle registrations in the country increased by 4% in August over July. While the registrations were 27% less when compared to August 2019, it was an improvement over July, when sales were down 36%.

“With the start of the festival season and the government’s continued effort to open up India, the month of August saw good numbers when compared to previous months,” said Vinkesh Gulati, president of the Federation of Automobile Dealers’ Associations (FADA), a lobby of vehicle retailers.

“Apart from the rural market which was showing revival signs until now, urban centres for the first time showed initial signs of demand pullback,” he said.

The sharpest recovery was for the passenger vehicles segment with sales of about 178,500 units – just 7% fewer than August 2019. Two-wheeler sales were down 29% compared to the previous year, while three-wheeler and commercial vehicle sales declined 70% and 58%, respectively.

Tractors sales continued to be higher than the previous year for the third straight month due to good monsoon rains and better rural sentiment.

The data were compiled by FADA from road transport and highways ministry’s VAHAN platform. The website captures vehicle registrations from 1,242 out of 1,450 regional transport offices in the country as some states are yet to migrate on to the platform.

The recovery may break momentum in September, cautioned Gulati, due to the Shraadh period this month which is considered inauspicious by some communities. During this period retailers would be focussing on following up on customer leads and generating an order book for October and November in anticipation of festivals like Navratri and Diwali.

Automobile manufacturers are planning record production for the months of September-November as they anticipate substantial demand recovery during these months, ET reported earlier this month.

Category Aug-20 Aug-19 Change July-20 Change
Two-wheeler 898775 1260722 -28.7 874638 2.8
Three-wheeler 16857 55293 -69.5 15132 11.4
Commercial vehicles 26536 62270 -57.4 19293 37.5
Passenger vehicles 178513 192189 -7.1 157373 13.4
Tractors 67406 52744 27.8 76197 -11.5
Total 1188087 1623218 -26.8 1142633 4.0


Source: MoRTH, FADA

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Lexus launches new variant of its flagship sedan LS at Rs 2.22 crore

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Luxury car maker Lexus on Monday launched a new variant of its flagship sedan LS – LS 500h Nishijin – priced at Rs 2.22 crore (ex-showroom Delhi). The company has also introduced updates to the LS 500h across its variant line-up, , Lexus India said in a statement. Operating convenience has been enhanced, including the ability to control the display screen and audio functions via smartphone, it added.

The updated LS 500h is available at a starting price of Rs 1.91 crore (ex-showroom Delhi), it added.

The new LS 500h Nishijin variant has interiors crafted with an expression of style and comfort featuring a unique collaboration involving traditional Japanese crafts, the company added.

Lexus India President P B Venugopal said the new Nishijin variant and improvements to the flagship model have been introduced following positive response of the LS 500h in India.

“These upgrades keep in line with the sophistication and craftsmanship of the Lexus LS 500h flagship luxury model,” he added. These will deliver optimum performance with cutting-edge technologies, while keeping in mind the environmental benefits and the sought-after comfort of our guests, Venugopal said.

The LS 500h has a V6 3.5-litre direct injection engine with two self-charging electric motors to deliver 264 kilowatt horsepower.


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Lexus LS 500h Nishijin: Lexus LS 500h Nishijin launched in India, priced at Rs 2.22 crore

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NEW DELHI: Lexus India on Monday launched a new variant of its flagship sedan LS in India. The LS 500h Nishijin comes with an enhanced interior reflecting the traditional Japanese arts.
The Lexus LS 500h Nishijin variant starts at Rs 2.22 crore (ex-showroom), while the standard variant costs Rs 1.91 crore (ex-showroom). The Nishijin variant costs Rs 30.77 lakh dearer than the standard variant.

The LS 500h Nishijin features unique ornamentation of ‘Nishijin and Haku’ inspired by a mysterious phenomenon of ‘path of moonlight on the sea’. The ornamentation is created by weaving silver threads of Nishijin brocade to represent shimmering waves and the Haku platinum metal foil representing moonlight shining on waves.

The LS 500h Nishijin comes with such exquisite craftsmanship to offer a comfortable and unparalleled in-cabin experience. Some of the key features include 12.3-inch touchscreen infotainment system that can be controlled with iPhone and Android smartphones. The controls on the steering wheel and the centre console have also received an uplift to offer better visibility. On the outside, the Nishijin variant comes with a modified bumper to enhance the sedan’s stance.
The LS 500h’s standard variant also comes with a new Gin-ei Luster colour scheme. The silver colour scheme reacts delicately to even the slightest amounts of light.

“Following the positive response of the LS 500h in India, we are delighted to unveil the new Nishijin variant and improvements to the flagship model. These upgrades keep in line with the sophistication and craftsmanship of the Lexus LS 500h flagship luxury model and will deliver optimum performance with cutting-edge technologies while keeping in mind the environmental benefits and the sought-after comfort of our guests. We are excited to see the response to this new and luxurious variant in the Indian market, ” said P.B. Venugopal, President, Lexus India.


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Tata Motors news: Tata Motors ties up with private lenders for commercial vehicles financing

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NEW DELHI: Homegrown auto major Tata Motors on Monday said it has entered into partnerships with leading private banks, including HDFC Bank, ICICI Bank and Yes Bank, to fund its commercial vehicles.

The tie-ups aim to enhance value offerings for customers of both new as well as pre-owned vehicles throughout the customer lifecycle, Tata Motors said in a statement.

The offerings arising out of these tie-ups will include ancillary financial provisions such as fuel financing, working capital financing, aggregate financing and service cost financing. It will enable customers to avail attractive financial schemes from all the partner financiers with minimal formalities, it added.

The other private banks include Equitas Small Finance Bank, AU Small Finance Bank, Union Bank of India and Punjab National Bank. NBFCs such as Cholamandalam Investment and Finance Co Ltd, HDB Financial Services, and Sundaram Finance are also part of the tie-ups.

“Our partnership will certainly add value and leverage our common strengths to meet the ever-evolving needs of our customers.

“We are confident of an increased reach in customer categories, product segments and geographies and hope that this will help us serve our customers in an efficient and delightful manner in the future as well,” said Tata Motors Vice-President (Sales and Marketing, and Commercial Vehicles Business Unit) Rajesh Kaul.

Tata Motors said its BS-VI offerings have garnered “an overwhelming response in the market, with the fleet owners appreciating the lowered total cost of ownership of the vehicles”.

It added that in the wake of such enthusiasm, these financial offerings promise customers easy access to financial schemes from leading banks in the country for the purchase and financing of the vehicles and services.

Some of these financing solutions will target large corporate and individual customers with large fleets in the medium and heavy commercial vehicle (M&HCV) space, with attractive offerings in terms of cost and high quality of service, the company said.

It added that some others will cater to small commercial vehicle (SCV) customers in semi-urban and rural locations, with special offerings dedicated to the customers of pick-up, the Tata Yodha.


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