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Mahindra & Mahindra Ltd announced that its overall auto sales for the month  of August 2024 stood at 76,755 vehicles, including exports.  

In the Utility Vehicles segment, Mahindra sold 43277 vehicles in the domestic market, a  growth  of  16%  and  overall,  44670  vehicles,  including  exports. The  domestic  sales  for  Commercial Vehicles stood at 21092.  
 
According to Veejay Nakra, President, Automotive Division, M&M Ltd., “We sold a total  of 43,277 SUVs in August, a growth of 16% and 76,755 total vehicles. India’s  Independence Day holds a significant place for us at Mahindra and this year we celebrated  the day with the launch of the much-awaited THAR ROXX – ‘THE’ SUV.  With Thar ROXX,  we're setting our sights on making the Thar franchise the No. 1 SUV franchise (>12.5 Lakh segment) by volume within the next 3 to 5 years”.

Mahindra & Mahindra Ltd said on May 16 it will invest Rs 12,000 crore in its electric vehicle (EV) unit, Mahindra Electric Automobile, over a period of three years up to March 31, 2027.

Mahindra Electric Automobile Limited, a subsidiary of M&M, has been incorporated on October 25, 2022 in India. Total Income of MEAL for the year ended March 31, 2024 was Rs 56.96 crores.

Net worth of MEAL as on March 31, 2024 stood at Rs 3,207.14 crore. The revenue from operations of MEAL for FY24 was nil.

Mahindra Auto sells 43,277 SUVs, a 16% growth in August 2024

Despite a temporary slowdown, the Battery Electric Vehicles (EVs) sales are likely to hit the 10 million milestone this year, according to a report by Counterpoint. 

The report, "Global Passenger Vehicle Forecast" mentioned that growth in battery EVs will be supported by the revamping of the production process, partnerships with the manufacturers, and bolstering the supply chain.

<a href="https://www.storyboard18.com/quantum-brief/electric-vehicles-hit-15-percent-of-bmws-total-sales-across-the-world-26495.htm">Electric vehicles hit 15 percent of BMW's total sales across the world</a>

At present, China is the dominant force in the 'battery electric vehicle' market, with sales projected to be 4 times that of the US market in 2024, the research projected. 

Besides, China will maintain more than 50% share of global EV sales until 2027 and is expected to register more sales than the US and Europe combined in 2030. 

<a href="https://www.storyboard18.com/how-it-works/ea-sales-in-india-jumped-49-25-percent-year-on-year-to-1529947-units-in-2023-20005.htm">Electric vehicle sales zooms 49 percent to 1.52 million units in 2023</a>

"The EU’s new tariff rates for Chinese EVs aim to level the playing field for European EV manufacturers, which are struggling to compete with lower-priced Chinese imports. These tariffs might push Chinese automakers towards emerging markets like the Middle East and Africa, Latin America, Southeast Asia, Australia, and New Zealand. The outcome of EU-China talks, especially with Germany’s opposition, will shape future EV market dynamics, with Europe and the US driving growth from 2025 onwards," Liz Lee, Associate Director at Counterpoint said.


However, from 2025 onwards, Europe and the US will start emerging as a major growth driver in this segment, the research added.

The Counterpoint report predicted that China's BYD market share would overtake Tesla's EVs in 2024. 


However, research analyst Abhik Mukherjee said that automakers like Volkswagen, Ford, and General Motors are positioning themselves to compete with the market leaders by revamping supply chains and producing affordable EV prices below $35,000. 

The research also predicted that hybrid vehicles, including plug-in hybrid electric vehicles and hybrid electric vehicles, will continue to dominate the electrified segment in the near term.


EV sales may hit 10 million in 2024; China likely to remain dominant force until 2027: Report

Television ad volumes of Auto Sector was declined by 18 percent in 2023 over 2019. October 2023 had the highest ad volume share of 11.8 percent on TV for Auto Sector, as per TAM.

Cars was the top category on TV from Auto Sector with 50 percent share of ad volumes in Y 2023. Among top Advertisers, Maruti Suzuki India secured 1st position with 12 percent share of ad volumes in 2023.

Ad volumes for Auto Sector on Television had decreased by 23 percent, 16 percent, 30 percent and 18 percent during 2020, 2021, 2022 and 2023 respectively over 2019. Whereas, compared to Y 2022, there was growth of 17% in ad volumes for Auto Sector during Y 2023. While Analyzing Quarterly Trends of Y 2023, Q’2, Q’3 and Q’4 witnessed de-growth of 21 percent, 16percent and 22 percent compared to Q’1.

Auto Sector observed highest ad volumes’ share during Oct’23 and Mar’23 i.e. 11.8 percent and 11 percent respectively. Whereas, Dec’23 had the lowest share of ad volumes of 5.2 percent.

TVS Apache RTR 160 4V dominated the brand list in Y 2023 compared to its 308th position in 2022.The top 10 brands from Auto Sector collectively added 21% share of ad volumes on TV. Among the top 10 brands, 5 of them were exclusive and 3 were new entrants during Y 2023 over Y 2022. During 2023, Suzuki Avenis descended to 3rd position after dominating the brand list in 2022.

News was the most preferred Channel Genre by the Auto Sector advertisers with 58 percent share of ad volumes in 2023. News and Movies Channel Genre together added 75 percent share of ad volumes.

News Bulletin genre was highly preferred for promoting Auto brands on Television during 2023. Top 2 program genres i.e. News Bulletin and Feature Films covered 62 percent to the total ad volume share of Auto sector on TV.

News Bulletin genre was highly preferred for promoting Auto brands on Television during 2023. Top 2 program genres i.e. News Bulletin and Feature Films covered 62 percent to the total ad volume share of Auto sector on TV.

News Bulletin genre was highly preferred for promoting Auto brands on Television during Y 2023. Top 2 program genres i.e. News Bulletin and Feature Films covered 62 percent to the total ad volume share of Auto sector on TV.

Cars become top category on TV from auto sector with 50 percent ad volumes in 2023

Two-wheeler maker Hero MotoCorp on November 16 announced that it has recorded its highest-ever festive sales during the 32-day period between the first day of the Navratras and Bhai Dooj this year.

The homegrown auto company clocked more than 14 lakh units in retail sales during the festive period, a 19% growth over the previous year. This was above the previous highest sale of 12.7 lakh units in the corresponding festive period of 2019.

According to the company, the growth was supported by robust demand across rural markets, and steady retail off-take in key urban centers. In the previous year, Hero MotoCorp reported a retail growth of 20 percent, during the 32-day festive period.

"The record retail number was achieved due to the strong customer traction across markets, with good double-digit growth in the Central, North, South and East Zones. With this robust retail sales, our post-festive channel inventory has now come down to its lowest level in more than three years. This has set us on a steady growth path for the rest of the fiscal year," said chief business officer Ranjivjit Singh.

Hero MotoCorp also rolled out the second edition of Hero Grand Indian Festival of Trust encompassing new model refreshes, eye-catching color schemes, exciting benefits and attractive finance schemes for customers.

"As part of this mega campaign - with ‘Iss Tyohar, Nayi Raftaar’ as its theme – customers could avail of an exciting range of motorcycles and scooters with attractive finance schemes and low interest rates that enabled the customers to bring home iconic Hero products," the company said in a release.



Hero MotoCorp records highest-ever festive sales, sells 14 lakh units

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Over the past few months, Metaverse has received a lot of attention. Some brands are viewing marketing in the metaverse as an opportunity to reach a larger audience in an engaging manner. Increasingly, automakers are getting onto the metaverse bandwagon to enhance their customer experience.

Mindshare India recently conceptualised and enabled the first ever electric vehicle (EV) launch in the metaverse for Volvo Cars in a space called Volvoverse. This is a first-of-its-kind collaboration across WPP agencies.

Watch to find out how and why they did it. 

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