Tag Archives: sales

News

Hero MotoCorp In Hot Water Amid Alleged Diversion Of Funds

June 21, 2023 David

Over in the Indian market, Hero MotoCorp is one of the biggest motorcycle manufacturers in terms of sales volumes. In 2022 alone, the motorcycle giant sold more than five million motorcycles. On average, the company has been selling close to half-a-million motorbikes every month in India. More specifically, it sold 519,474 motorcycles in May, 2023, according to data from a Livemint report.

That being said, Hero, being the hero that it is, isn’t immune to issues. On June 15, 2023, anonymous sources told Reuters that India’s Ministry of Corporate Affairs has ordered an investigation be conducted on Hero MotoCorp. Specifically, this involves the brand’s relationship with a third-party vendor, wherein there has been an alleged diversion of funds.

According to the report, the investigation seeks to probe the ownership structure of Hero MotoCorp, and to see whether the company had any control over the third-party vendor. Meanwhile, the Ministry of Corporate Affairs deemed that the investigation be conducted in the “public interest,” given Hero MotoCorp’s high-ranking status in the Indian economy, as well as the global motorcycle industry.

As of this writing, Hero MotoCorp has yet to release a statement about the matter. It did, however, respond to a query by Reuters stating, “We will provide all information, if and when it is sought from us by any regulatory authority.” The investigation was ordered following a preliminary inquiry from India’s Registrar of Companies, and was seen fit for a further, more detailed investigation.

What this means for Hero MotoCorp is that the company’s operations will, for now, at least, be subject to the scrutiny of the Ministry of Corporate Affairs. The company must submit any and all documents, records, and statements that the ministry asks of them during the investigation.

It’s worth noting that this isn’t the only time in recent history that Hero MotoCorp has found itself in hot water with the Indian government. In 2022, the company found itself under close scrutiny of India’s income tax authorities. The investigation even reached a point where authorities visited Hero MotoCorp headquarters, and even the home of company CEO Pawan Munjal, as part of what was described as a “routine inquiry.”

In other news, Hero MotoCorp, in partnership with Harley-Davidson, recently unveiled the X440, branded with the Milwaukee company’s Bar and Shield. This bike marks the first fruit from the collaboration between the two companies, as well as the first single-cylinder, small-displacement model in Harley-Davidson’s modern lineup.

Citreon

ONLY A FEW MORE DAYS TO GO: CITROËN MY AMI BUGGY II WILL GO ON SALE ON TUESDAY 20 JUNE AT 2.00PM IN THE UK

June 15, 2023 David

Priced at just £10,495 OTR, UK sales open at 2.00pm on Tuesday 20 June
Limited run of 1,000 My Ami Buggy II to go on sale in ten countries*, including the UK
My Ami Buggy II features rugged good looks and colourful accents, as well as exclusive accessories
40 limited edition’ My Ami Buggy II will be available in the UK exclusively via the Citroën Ami website: https://www.citroen.co.uk/ami

The new Citroën My Ami Buggy II will be available for purchase on Tuesday 20 June at 2.00pm. There will be a total of 1,000 vehicles sold worldwide, with 40 of them available in the UK. The price of the My Ami Buggy in the UK will be £10,495 OTR.

The previous ‘Ultra-Limited Series’ My Ami Buggy, which was available in France last year, sold out all 50 units in less than 18 minutes. The My Ami Buggy emits zero emissions while in use and has a 5.4kWh battery that charges in four hours. It has a range of up to 46 miles (WMTC**) and a top speed of 28mph, making it an environmentally friendly and affordable mobility solution.

The My Ami Buggy features a rugged and adventurous design, with khaki exterior color and black protective elements such as reinforced bumpers, skid plates, headlamp surrounds, and wheel arch extensions. Yellow accents are prominently featured both on the exterior and interior, giving the vehicle a lively and playful character. The removable plastic covers and black waterproof fabric roof allow the driver and passenger to feel closer to nature.

Convenient storage spaces have been integrated into the design, including a yellow bag that fits into the center of the steering wheel and a specifically designed space for the Ultimate Ears Boom lightweight Bluetooth speaker. The My Ami Buggy will be available for sale exclusively at https://www.citroen.co.uk/ami.

* UK, France, Italy, Spain, Belgium, Greece, Portugal, Luxembourg, Morocco, and Turkey.

** World Motorcycle Test Cycle

Featured

Renault Achieves 10 Lakh Production Milestone in 16 Years

June 15, 2023 Prafful Singh

The carmaker also achieved the 9-lakh sales milestone in the same timeframe

Renault has reached a significant milestone by producing 10 lakh cars in India. The company had recently achieved the 9 lakh sales mark in over 16 years of operation in the country.

In 2005, Renault entered the Indian market and introduced its first car, the Logan, in 2007. However, the sedan was sold through a joint venture with Mahindra. In 2011, Renault launched its first independent car, the Fluence. This premium sedan was followed by models like the Koleos, Pulse, Duster, Scala, KWID, Lodgy, Captur, Triber, and Kiger.

Also Read: Renault And Nissan Planning On Entry-level EVs For India To Rival Tata Tiago EV

Renault and its joint venture partner Nissan plan to launch six new vehicles, including four new SUVs and two new compact EVs, by 2025.

Here’s the official statement from Renault:

Renault, the leading European brand in India, is proud to announce a production milestone of 10,00,000 vehicles in India. This achievement showcases Renault’s manufacturing capabilities and commitment to delivering high-quality vehicles to Indian customers.

Renault’s advanced manufacturing plant in Chennai has played a crucial role in this extraordinary accomplishment. With a production capacity of 480,000 units per year, the facility demonstrates Renault’s dedication to excellence and innovation. The company has made significant investments in manufacturing, technology, and talent to create a robust production infrastructure that ensures the highest standards of quality and efficiency. The Renault-Nissan alliance has committed a major investment of INR 5,300 crore to support the development of six products.

As Renault India celebrates this remarkable milestone, it reaffirms its dedication to delivering high-quality vehicles and exceptional customer experiences. All the models in the Renault range are equipped with advanced features and safety technology, along with exciting customer benefits. Renault also offers its existing owners an outstanding loyalty program, providing them with an opportunity to upgrade to a new Renault vehicle with enhanced benefits designed specifically for them. With a strong foundation, an expanding network, and a customer-centric approach, Renault is well-positioned for continued success and growth in the Indian automotive market.

Lamborghini Revuelto: The Birth of the First V12 Hybrid Plug-in

June 14, 2023 Prafful Singh

Federico Foschini, Chief Marketing and Sales Officer, shares the story behind Lamborghini’s first V12 hybrid plug-in, the Revuelto

Sant’Agata Bolognese, June 01, 2023 – On March 29, Lamborghini introduced the Revuelto, a groundbreaking V12 plug-in hybrid HPEV. Federico Foschini, Chief Marketing and Sales Officer at Automobili Lamborghini, provides insight into the project and the positioning strategy for the model in a series of three short films.

“The history of Lamborghini is truly magical,” says Foschini. “This iconic brand gained fame through revolutionary cars that pushed the boundaries of automotive innovation. These vehicles surpassed their time and left a lasting impact on the market. For us, innovation is essential, and with the Revuelto, we are embracing electrification while remaining true to our DNA of delivering thrilling driving experiences and exceptional performance. This car represents Lamborghini’s take on the electrification trend, hence the name HPEV: High Performance Electrified Vehicle.”

^[1] The Revuelto is not available for purchase yet and is therefore not subject to Directive 1999/94/EC. Fuel consumption and emissions data are still in the approval stage.

Featured

Hyundai Creta continues to dominate compact SUV sales, as Kia Seltos experiences a major decline

June 14, 2023 Prafful Singh

Maruti Grand Vitara records the largest growth in sales

In May 2023, compact SUV sales dropped by 4.8% compared to April 2023. Out of all the models, the Hyundai Creta was the only one to sell more than 10,000 units, while Kia Seltos had the highest decline of over 40% in monthly sales.

Here’s a breakdown of the compact SUV sales in May 2023:

Compact SUVs & crossovers

May 2023

April 2023

MoM Growth

Market share current(%)

Market share (% last year)

YoY mkt share (%)

Average sales (6 months)

Hyundai Creta

14449

14186

1.85

33.17

47.54

-14.37

12866

Mahindra Scorpio

9318

9617

-3.1

21.39

18.83

2.56

7921

Maruti Grand Vitara

8877

7742

14.66

20.37

7706

Kia Seltos

4065

7213

-43.64

9.33

25.79

-16.46

7921

Toyota Hyryder

3090

2616

18.11

7.09

3485

Skoda Kushaq

1685

2162

-22.06

VolvoCars

Volvo Cars global sales up 31 per cent in May

June 8, 2023 David

Volvo Cars reports global sales of 60,398 cars in May, up 31 per cent compared with the same month last year. The company’s fully electric cars were the main contributor to the growth, rising 196 per cent during the period. Furthermore, figures from May 2022 were negatively affected by lower production due to last year’s supply chain constraints.

For the first five months of the year, Volvo Cars sales reached 275,312 cars, up 14 per cent compared with the same period during 2022.

Sales of Volvo Cars’ Recharge models of fully electric and plug-in hybrid cars increased by 55 per cent in May, accounting for 40 per cent of all Volvo cars sold globally during the month. The share of fully electric cars stood at 18 per cent.

Sales in Europe for May reached 26,272 cars, an increase of 40 per cent compared with last year. The share of Recharge models reached 63 per cent of overall sales in the region and the share of fully electric cars ended up at 29 per cent.

US sales grew by 14 per cent in May to 10,723 cars. The share of Recharge models reached 28 per cent of overall sales and sales of fully electric cars increased by 66 per cent compared with last year.

In China, sales reached 14,121 cars, an increase of 49 per cent compared with the same month last year. Sales of Volvo Cars’ Recharge models grew by 116 per cent, accounting for 8 per cent of the total sales in China.

In May, the Volvo XC60 was the top-selling model with sales of 18,052 cars (2022: 15,117 units), followed by the XC40 with total sales at 17,596 cars (2022: 12,097 units) and the XC90 at 9,058 cars (2022: 8,790 units).

	May	May		Jan-May	Jan-May
	2023	2022	Change	2023	2022	Change

Europe	26,272	18,752	40%	119,747	103,731	15%
Recharge	16,481	8,813	87%	74,552	53,120	40%
– Fully electric	7,655	1,847	314%	34,130	12,171	180%
– Plug-in hybrid	8,826	6,966	27%	40,422	40,949	-1%

China	14,121	9,488	49%	63,121	53,765	17%
Recharge	1,181	547	116%	6,271	4,367	44%
– Fully electric	263	143	84%	1,531	768	99%
– Plug-in hybrid	918	404	127%	4,740	3,599	32%

US	10,723	9,372	14%	46,817	42,151	11%
Recharge	3,039	3,348	-9%	13,696	13,787	-1%
– Fully electric	1,342	807	66%	5,480	3,258	68%
– Plug-in hybrid	1,697	2,541	-33%	8,216	10,529	-22%

Other	9,282	8,340	11%	45,627	41,750	9%
Recharge	3,266	2,737	19%	17,479	12,042	45%
– Fully electric	1,566	855	83%	8,584	3,885	121%
– Plug-in hybrid	1,700	1,882	-10%	8,895	8,157	9%

Total	60,398	45,952	31%	275,312	241,397	14%
Recharge	23,967	15,445	55%	111,998	83,316	34%
– Fully electric	10,826	3,652	196%	49,725	20,082	148%
– Plug-in hybrid	13,141	11,793	11%	62,273	63,234	-2%

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