The automotive retail sales numbers for September 2024 show a decline in demand for two-wheelers, passenger vehicles and commercial vehicles. Barring three-wheelers with a flat growth and tractor segment with 14 percent growth, sales have declined both on a month-on-month basis as well as year-on-year basis.

The overall auto retails came at 17,23,330 units, which is a decline of 9.26 percent over last year. This includes 12,04,259 two-wheelers (-8.51% YoY); three-wheelers 1,06,524 units (0.66% YoY); 2,75,681 passenger vehicles  (-18.81% YoY); 62,542 tractors (14.69% YoY) and 74,324 commercial vehicles (-10.45% YoY).

C S Vigneshwar, President, Federation of Automobile Dealers Association (FADA) said, “The 2024 southwest monsoon recorded 8 percent above-normal rainfall—the highest in four years—which has boosted Kharif sowing by 1.5 percent YoY. This increase in agricultural productivity has positively impacted rural demand and economic sentiment. Despite the onset of festivals such as Ganesh Chaturthi and Onam, Dealers have reported that the performance has been largely stagnant. This suggests that overall market sentiment during these festive periods has been underwhelming, with a trend leaning towards flat or negative growth. The Shraddh period further impacted sales negatively, leading to a YoY decline in retail sales across various categories.”

He further stated that while discounts and offers have been introduced across segments to stimulate demand, but they have “yet to translate into a significant improvement in sales.”

Vigneshwar said that the two-wheeler sales decline can be attributed to low consumer sentiment, poor inquiries, and reduced walk-ins. Seasonal factors like the Shraddh period, Pitrapaksha, and heavy rains further impacted demand, resulting in delayed purchases and a subdued market environment.

The three-wheeler sales showed marginal growth of 0.99 percent MoM and 0.66 percent YoY, driven by positive customer engagement and increasing demand for e-rickshaw options. However, overall demand remained subdued as many customers deferred purchases in anticipation of the upcoming festive season and heavy rains impacted walk-ins and sales activity.

The commercial vehicle segment reflected a mixed performance, while there was positive sentiment and marginal growth in regions supported by infrastructure projects, overall demand remained weak due to low government spending, extended monsoon delays and seasonal challenges. Despite some improvement in fleet purchases, the market conditions remain subdued.

The passenger vehicle segment has been a case of worry with an alarming trend of declining consumer demand and deteriorating market sentiment. Seasonal factors such as Shraddh and Pitrapaksha, coupled with heavy rainfall and a sluggish economy, have exacerbated the situation, leaving dealers with historically high inventory levels of 80-85 days—equivalent to 7.9 lakh vehicles worth INR 790 billion.

“Given the critical festive season around the corner, FADA urges OEMs to take immediate corrective measures to avoid a financial setback. FADA also calls on the Reserve Bank of India (RBI) to issue an advisory to banks, mandating stricter channel funding policies based only on Dealer consent and on actual collateral, to prevent dealers from facing additional financial pressure due to unsold stock. This is the final opportunity for PV OEMs to recalibrate and support market recovery before it's too late!”

Going forward, FADA’s near-term outlook for automobile retail is cautiously optimistic as both Navratri and Diwali fall in the same month, creating strong expectations for a surge in vehicle sales.

With healthy water levels in reservoirs and improved crop yields supporting rural demand, the festive season is expected to drive a substantial boost in two-wheeler, passenger vehicle, and tractor sales with new launches been planned for the month. However, the passenger vehicle segment faces a critical situation due to high inventory levels at dealerships.

Vigneshwar cautions that if sales do not pick up as expected in October, dealers could face significant financial pressure from unsold stock piling up in their warehouses.

While dealers and OEMs are betting on robust festive sales, especially in rural markets where positive cash flow and better agricultural conditions are expected to spur demand, the outcome remains uncertain.

He states that a successful October is essential to clear out excess inventory and set a positive growth trajectory for the remainder of FY2025. With rising inquiries and optimistic dealer sentiments, the outlook leans towards optimism, but high stakes and dependency on October’s performance warrant a cautious approach.

“If the anticipated sales do not materialise, it could shift the outlook to pessimistic, putting dealers as well as OEMs in a difficult position heading into the new year,” he concludes.

AstaGuru will showcase some of the world’s most coveted vintage and classic cars at its upcoming ‘Classics of Motoring’ auction, which will take place from 20 to 22 November 2024.

The auction will offer an exclusive collection of rare and meticulously curated vintage cars, providing a unique opportunity for collectors and automotive enthusiasts to acquire iconic pieces of automotive history.

The auction will feature an impressive lineup of vehicles, including a 1934 Rolls-Royce 20/25 Limousine, a 1946 Singer Nine Roadster, a 1946 Bentley Mark VI, a 1947 Lincoln Continental V12 Convertible and a 1948 Jaguar Mark IV, among others. These stunning machines, each a testament to the engineering marvels of their era, promise to transport bidders back in time, celebrating the golden age of motoring.

A Growing Market in India

AstaGuru’s Vintage and Classic Car Specialist, Muzammil Kazi, shared his insights on the evolution of the vintage car market in India. “We did our first auction in 2018, and it was a surprising success,” Kazi noted. “At the time, these cars weren’t available online or marketed in the way they are now. You’d have to go to a dealer or connect with a seller directly, which made it hard to find these rare cars. But our first auction was a hit, with all lots selling successfully.”

The vintage car market in India, according to Kazi, is far from saturated. “The market is 100 percent growing. These cars were imported to India in limited quantities, and you wouldn’t find brands like Ford or General Motors here in the same way as abroad. Cars like the Fiat, Ambassador, or old Maruti SS80 were more common, but the rare vintage gems we are showcasing today are difficult to find.”

Kazi also emphasised that the scarcity of such cars means the market still has significant potential for growth. “The cars we have on display today are curated from various collectors across India, and it’s very rare to see them come together in one auction,” he explained.

Safeguarding Online Bidders

AstaGuru’s online auction platform also ensures that bidders are fully protected throughout the process. “We have a strong set of terms and conditions for the cars we sell,” Kazi explained. “We only auction cars with up-to-date paperwork and in proper running condition. Once a car is sold, we ensure the buyer receives it only after the seller submits a No Objection Certificate (NOC), making the transaction smooth and secure.”

Record-Breaking Bids

The auction has seen some impressive bids in the past. Kazi highlighted one of the highest bids to date: a Mercedes-Benz 111 230S, which was estimated at INR 2.1 million but eventually sold for INR 6.8 million. Another standout was a Rolls-Royce, which had an estimated value of INR 7-8 million but sold for a remarkable INR 18 million.

A Rare Opportunity for Collectors

For classic car enthusiasts and connoisseurs, the ‘Classics of Motoring’ auction represents an unmissable opportunity to acquire some of the rarest and most beautifully restored vehicles in the world. With its rich history and pedigree, each car in the auction is a testament to the artistry and engineering excellence that defined its era. Whether a seasoned collector or a newcomer to the world of vintage automobiles, this event promises a truly memorable experience for all involved.

As the vintage car market continues to grow in India, AstaGuru is setting the stage for an exciting future for collectors and car lovers alike. The ‘Classics of Motoring’ auction is expected to draw attention from around the world, offering a rare chance to own a piece of automotive history.

Tata Motors-owned British luxury car brand Jaguar has unveiled its new brand identity, which it says recaptures an ethos to Copy Nothing that traces its roots back to the words of its founder, Sir William Lyons. 

The new identify is based on Exuberant Modernism, a creative philosophy, which the company says underpins all aspects of the new Jaguar brand world. 

Professor Gerry McGovern OBE, Chief Creative Officer, Jaguar, said, “Jaguar has its roots in originality. Sir William Lyons, our founder, believed that ‘A Jaguar should be a copy of nothing’. Our vision for Jaguar today is informed by this philosophy.  New Jaguar is a brand built around Exuberant Modernism. It is imaginative, bold and artistic at every touchpoint. It is unique and fearless. This is a reimagining that recaptures the essence of Jaguar, returning it to the values that once made it so loved, but making it relevant for a contemporary audience. We are creating Jaguar for the future, restoring its status as a brand that enriches the lives of our clients and the Jaguar community.”

The four symbols of change – Device Mark, Strikethrough, Exuberant Colours and Makers Marks - each representing the future design philosophy for the luxury carmaker.

Device Mark celebrates modernism through the geometric form, symmetry and simplicity.

Strikethrough sees the linear graphic generate a unique presence and an immediately recognisable visual for Jaguar.

The Exuberant use of colours marks a cornerstone of Jaguar’s new brand identity.

Makers Mark consists of the newly reimagined Jaguar ‘leaper’, which the luxury brand said is part of its mark of provenance. 

On 2 December 2024, Jaguar will present its first global public installation under its new brand philosophy at the Miami Art Week.

Rawdon Glover, Managing Director, Jaguar, said, “To bring back such a globally renowned brand we had to be fearless. Jaguar was always at its best when challenging convention. That ethos is seen in our new brand identity today and will be further revealed over the coming months. This is a complete reset. Jaguar is transformed to reclaim its originality and inspire a new generation. I am excited for the world to finally see Jaguar.”

Nissan Motor India, one of the leading passenger vehicles manufacturers, has started exporting the new Nissan Magnite SUV to South Africa, which is part of the company’s bigger export plans from the country.

Since the launch of the refreshed SUV in October 2024, Nissan has exported over 2,700 units of the Magnite to global customers. Till date, the SUV has gone home to over 150,000 customers globally since it was launched in December 2020.

Nissan is also looking to expand its total export footprint to more than 65 international markets now including Left-Hand Drive (LHD) markets.

Frank Torres, Divisional Vice-President - AMIEO Region Business Transformation & President, Nissan India Operations, said, “Ever since the Nissan Magnite’s launch in 2020, we have seen a resounding acceptance and demand from customers in the South African market for the Made-in-India compact SUV. Our focus on the domestic and export market both are crucial parts of our strategy to deliver outcomes in line with ‘The Arc and India remains a key part of the growth strategy for the company. The export of the new Nissan Magnite will further enhance India's position as an export hub and drive Nissan's growth in the AMIEO region, exemplifying Nissan India ‘One Car, One World’ philosophy.”

Jordi Vila, President, Nissan Africa, said, “We are delighted to receive the shipment of new Nissan Magnite SUVs from India and glad that they will be available for the local customers. With its bold aesthetics, enhanced safety and advanced tech features, catering to a wide range of preferences and customer needs, our customers in South Africa and other African markets are sure to like the new Nissan Magnite B-SUV.” 

Škoda Auto India has launched the all-new Kylaq Club, a membership programme designed to engage potential Kylaq buyers throughout their journey, right from discovering to booking and purchasing the SUV. Based on the company’s MQB-A0-IN platform, the Kylaq is India’s first-ever sub-4m SUV, which was announced in February 2024 and was unveiled globally on 6 November. The SUV is slated to go on sale in January 2025.

Kylaq Club members will have the advantage of making reservations at a discounted rate compared to other clients. Additionally, members have access to priority booking, gaining a two-hour edge over standard reservations when it opens on 2 December 2024. They also benefit from extra webcast sessions, factory tours and vouchers for accessories and value-added items. Customers simply need to sign up for the Kylaq Club on the company’s website. The registrations are already open and ends on 30 November 2024.

Petr Janeba, Brand Director, Škoda Auto India, said, “The Kylaq heralds a new era for Škoda Auto in India and is set to democratise European technology on Indian roads. At the world premiere of the Kylaq last week, we committed to introducing some special benefits for our prospective customers of Kylaq. And today is our first announcement – the launch of the Kylaq Club. This is our endeavour to make our customers feel extremely special and privileged and at the same time at home with the Škoda family, with numerous exclusive benefits including exclusive content, special offers and deeper insights, before the Kylaq enters their garage. Only members of the Kylaq Club will have exclusive priority booking for Kylaq, with a limited-time special offer, when it opens on 2 December 2024.”