![Passenger vehicle sales drop 1% in May](https://images.assettype.com/fortuneindia%2F2022-02%2Fe8ae38a6-5d58-4580-8687-4d2d9e399298%2FCar_Sales.jpg?rect=0,136,2700,1350&w=300&q=95)
Passenger vehicle sales drop 1% in May
Due to the extreme heat which broke records, the number of walk-ins to showrooms dropped by around 18%.
Due to the extreme heat which broke records, the number of walk-ins to showrooms dropped by around 18%.
The company has attributed the price hike to offset the residual impact of the past input costs.
Passenger cars marked the highest February sales figures ever, driven by new product introductions and enhanced vehicle availability, says FADA
Reacting to the demerger plan, shares of Tata Motors gained as much as 4.5% to scale a new peak of ₹1,031.70 on the BSE.
However, long-term fundamentals remain positive, with expectations of a post-election rebound as underlying industries resume tender processes.
Around 50% of long-haul trucks sold in India come without cabins.
The price hike comes weeks after India's largest commercial vehicle company hiked prices of its model range in October.
Passenger vehicles and two-wheelers set new all-time highs.
In October, the exports of VE Commercial Vehicles (VECV) declined by 43.5%.
The price increase is to offset the residual impact of the past input costs, the company says.