Company's domestic sales increased by 24.7 percent to 1.21 lakh vehicles and exports shot up 90.4 percent to 13,146 vehicles.
"The Renault Kwid has created a huge excitement since its launch and we are thrilled with the response it has received just at the onset of the festive season," Renault India Operations, Country CEO and MD, Sumit Sawhney, said in a statement.
Shares of country's largest carmaker Maruti Suzuki India have experienced some volatility of late, after a Jefferies report flagged concerns over its capital allocation policy, uncertainty with respect to its Gujarat plant and a lacklustre launch of premium vehicles such as S Cross.
The SUV-like Renault Kwid was first unveiled as a concept at the Auto Expo 2014. It will be priced between Rs 3 lakh and Rs 4 lakh.
The average hike in the ex-showroom prices, with effect from August 11, across models ranges from Rs 3,000 to Rs 9,000, a Maruti Suzuki India (MSI) spokesperson said. The price revision is on account of changes in dealer margin and a minor calibration in prices, the spokesperson added.
Launched in 2008, Maruti Suzuki DZire has been a category leader and has helped MSI strengthen its presence in the entry sedan segment.
The company, which sells various popular models including Alto and Swift, is looking to have a localisation content of around 85 percent on an average across its premium and volume products.
Mahindra & Mahindra said domestic tractor sales fell 21 percent to 18,245 units in May against 23,132 units in the same month last year while tractor exports grew by 25 percent to 1,012 units during the same period.
Renault unveiled its new entry level hatchback, KWID in Chennai last week. Aimed at the emerging markets, especially India, the KWID will be priced between Rs 3 & 4 lakh, ex-showroom Delhi & will compete with India‘s highest selling car, Maruti Suzuki‘s Alto. Watch the interview of Renault Groupe's Sr VP, Global Marketing Micheal Van Der Sande.
Auto companies kicked off the financial year 2014-15 on a strong note by reporting good sales growth in April. Auto shares rallied 2-6 percent intraday on Monday.
The company said its domestic sales increased by 27.3 percent during the month to 1,00,709 units against 79,119 units in April 2014.
Maruti Suzuki India continued its hold on the country's car market in 2014-15 with its models Alto, Swift, Dzire and WagonR retaining the top four positions. According to SIAM, Maruti's Alto sold 2,64,492 units in 2014-15 as against 2,58,281 units in the previous fiscal, retaining its numero uno position for the 10th year in succession.
The company had sold a total of 51,215 units of factory-fitted CNG vehicles in the previous fiscal. "The contribution of CNG vehicles to total sales increased to 5.4 per cent from 4.9 per cent in FY 2013-14," MSI said in a statement.
The company said its domestic sales increased by 8.2 percent during the month to 1,07,892 units as against 99,758 units in February 2014.
Tata's domestic passenger vehicles business has struggled over the past few years. But that may be changing now.
The increased prices after revision of central excise duty with effect from January 1, 2015, across all models ranges between Rs 7,850 on Omni van to Rs 31,600 on mid-sized sedan Ciaz, a company official said.
Currently, Lumax Industries‘ order book stands at Rs 6000 crore for projects in the next 3-5 years.
Domestic sales grew by 17 percent on yearly basis to 1 lakh units while exports surged 52.7 percent to 10,123 units during the the same period.
The company said its domestic sales rose by 1 percent during the month to 97,069 units as against 96,062 units in October, 2013.
Within companies, Asian firms (Maruti Suzuki, Hyundai, Honda and Nissan) continued their strong showing in the Indian market while American and European companies (Chevrolet, Ford, Renault, Volkswagen and Fiat) witnessed their market share come off, compared to a year ago.
Corroborating the trend of a pick-up in the auto sector witnessed recently, Maruti Suzuki India posted strong sales for the third consecutive month, with compact sales driving a bulk of the growth.
India's largest car maker sold 1,10,776 lakh units in August, up 27 percent compared to 87,323 units in same period last year and up 9 percent compared to 1.01 lakh units in previous month.
Credit Suisse maintains outperform rating on the stock with an increased target price to Rs 3,500 apiece (from Rs 3,020 earlier).
Gasoline prices in India have declined 4 percent since the beginning of FY15 after rising by 11 percent per annum during FY11-14. Deutsche believes this is a positive development for entry-level car (Alto/WagonR) demand.
The stock market may be unnerved about the Gujarat plant but the leader may be quietly redefining the business market.