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Petrol vehicles have been the top sellers in recent years - increasing their market share to around 68.4% in January-July 2023 from 42.5% in 2014, according to data from automotive market intelligence provider JATO Dynamics. Cost-conscious Indians are preferring to buy petrol cars as they are cheaper than diesel, even though diesel cars offer better fuel efficiency. DIESEL VEHICLES:Tuesday's warning from minister Nitin Gadkari targeted diesel carmakers, whose market share has seen a steady decline to nearly 18% of passenger vehicles in January-July this year from 47.9% in 2014. But when it comes to luxury cars, diesel variants remain in vogue, with their market share rising to 33% so far this year from 31% in 2021. Among automakers, Mahindra and Mahindra (MAHM.NS) has the highest diesel car market share with 47% of unit sales so far this year, up from 28% in 2021.

Persons: Maruti Suzuki, Nitin, Tesla, Aditi Shah, Aditya Kalra, Mark Potter Organizations: Maruti, Tata Motors, Volkswagen, Society of Indian Automobile Manufacturers, JATO Dynamics, Mercedes, BMW, Audi, Mahindra, Hyundai, Kia, Thomson Locations: MUMBAI, China, United States, India

☆ India's top carmaker Maruti's profit doubles on strong demand
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Jan 24 (Reuters) - Maruti Suzuki India Ltd (MRTI.NS) beat quarterly profit estimates and reported improved margins on Tuesday as the country's biggest carmaker benefitted from strong demand for its passenger cars, helped by festive sales. Profit for Maruti, which has over 40% market share in the country's passenger vehicles segment, more than doubled to 23.51 billion rupees ($288.5 million) in the quarter ended Dec. 31, from 10.11 billion rupees a year ago. Analysts on average had expected a profit of 18.81 billion rupees, according to Refinitiv IBES data. Festive demand and improved availability of semiconductors pushed car sales up nearly 23% across companies last quarter, the Society of Indian Automobile Manufacturers has said. Maruti, majority owned by Japan's Suzuki Motor Corp (7269.T), said vehicle sales rose to 465,911 units in the quarter from 430,668 units a year ago.

☆ India's Maruti tops Q3 profit view on strong passenger car demand
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Jan 24 (Reuters) - Maruti Suzuki India Ltd (MRTI.NS) reported better-than-expected quarterly profit on Tuesday, as the country's biggest carmaker benefitted from strong demand for its passenger cars, sending shares up as much as 2.4%. Profit for Maruti, which has over 40% market share in the country's passenger vehicles segment, came in at 23.51 billion rupees ($288.53 million) for the quarter ended Dec. 31, compared with 10.11 billion rupees a year ago. Maruti, majority owned by Japan's Suzuki Motor Corp (7269.T), sold 465,911 vehicles in the quarter, up from 430,668 units the same quarter last year. The company said it had about 363,000 pending orders, out of which about 119,000 orders were for newly launched models. Analysts on average had expected the company to report a profit of 18.81 billion rupees, according to Refinitiv IBES data.

☆ India's utility vehicles sales rise in Dec, demand for entry-level cars muted
▼ + stars: | 2023-01-02 | by ( Nandan Mandayam | ) www.reuters.com time to read: +2 min

BENGALURU, Jan 2 (Reuters) - India's top automakers in December reported a double-digit rise in the sale of the more expensive utility vehicles, while entry-level cars saw muted demand despite discounts. Auto sales numbers are keenly watched as they are among the key indicators for assessing private consumption, which has more than 50% weightage in calculating the country's economic growth. Utility vehicles (UV), among the fastest-growing segments, saw a 22.3% rise in sales at Maruti Suzuki India (MRTI.NS) and 62.2% at Mahindra and Mahindra (MAHM.NS). Hero MotoCorp (HROM.NS), the world's largest bikemaker, reported a marginal fall in sales, while Bajaj Auto's (BAJA.NS) two-wheeler sales dropped 22%. The commercial vehicles (CV) segment reported a double-digit growth for December, with sales at industry leaders Eicher Motors (EICH.NS) and Ashok Leyland (ASOK.NS) rising 17.3% and 44.9%, respectively.

LONDON, Dec 20 (Reuters) - India has been one of the strongest sources of global energy consumption growth in 2022 as the country's economy rebounded from the disruption and lockdowns caused by the coronavirus pandemic in 2020 and 2021. Generation has rebounded so fast it is now less than 1.5% below the pre-pandemic trend for 2015-2019, based on data from India's Central Electricity Authority. Chartbook: India energy consumptionManufacturing production has been gradually declining since the second quarter, based on estimates published by the Reserve Bank of India. As the country's external environment becomes increasingly adverse, energy consumption is likely to grow much more slowly in 2023. Related columns:- India's electricity shortage erased by renewables growth(Reuters, Nov. 25)- Dollar shock threatens global economy (Reuters, Sept. 29)- India's coal and electricity supplies are more comfortable this autumn (Reuters, Sept. 28)- John Kemp is a Reuters market analyst.

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