BUSINESS
EV registrations hit a speed bump this year after record growth in 2023
In the electric passenger vehicle segment, the growth was slower still. Total e-car sales were up just 20 percent this year at 87,687 units versus 73,273 units sold in 2023. Last year, sales had skyrocketed 120 percent from 33,209 units. The proportion of EVs to total PV sales remained at around 2 percent for 2024 as well.
BUSINESS
Tata Punch leads PV sales chart in 2024, followed by Hyundai Creta and Maruti Ertiga
According to Ravi Bhatia from Jato Dynamics India, Maruti Suzuki Ertiga, Hyundai Creta, and Tata Punch dominate their respective segments by serving distinct buyer groups with specific needs
BUSINESS
Year-ender 2024 | Policies that will redefine future of mobility in India
While the second edition of Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India (FAME) scheme concluded on March 31, 2024, a slew of other policies were notified to give a renewed thrust on battery-driven vehicles
BUSINESS
Kia Syros SUV makes global debut in India, bookings to begin on January 3
The South Korean carmaker revealed that Kia Syros will be positioned between the Sonet and Seltos SUVs. Once launched, it will be taking on the likes of the Maruti Brezza, Tata Nexon, Hyundai Venue, Mahindra XUV 3XO, and and the soon-to-be launched Skoda Kylaq
BUSINESS
Auto component industry will continue to make investments on capex, R&D despite slowdown: ACMA President
As per industry watchers, Indian auto component manufacturers are expected to invest between $2.5–3 billion in the financial year 2025, primarily to increase capacity. According to Marwah, there are investments happening in physical infrastructure, design, R&D, people, automation, etc.
BUSINESS
We need to have a UPI moment for EV charging ecosystem, says Mercedes Benz India MD & CEO
According to him, this kind of convenience will take away some of the angst of charging EVs. He also cited the example of Mercedes Me App offered to overseas EV buyers.
BUSINESS
Auto component industry logs 11.3% growth in turnover at Rs 3.32 lakh crore in H1: ACMA
As per ACMA's findings, component supplies to OEMs in the domestic market grew by 11 percent year-on-year to Rs 2.83 lakh crore ($33,8 billion) during H1 FY 2024-25. The aftermarket, estimated at Rs 47,416 crore ($5.7 billion), also witnessed a growth of 5 percent year-on-year during that period, it added.
AUTOMOBILE
Ashok Leyland’s Switch Mobility aims to manufacture battery packs in-house
Switch Mobility, which specialises in electric buses and light commercial vehicles, sources a variety of battery packs from Tata Auto Component (TACO). At present, Switch-branded vehicles are assembled at Ashok Leyland facilities-e-buses in Ennore and e-LCVs at Hosur
AUTOMOBILE
Auto industry counts on rural markets for sales resurgence in H2
As per industry watchers, sales of four-wheelers in urban areas in the first half of the fiscal fell by nearly 3 percent over the previous year, while rural sales grew by almost 5 percent
BUSINESS
Carmakers to jack up prices in January 2025
While some carmakers like Maruti Suzuki have stated that price adjustments will vary depending on the model, others like Hyundai, M&M, BMW are echoing similar strategies to maintain profitability
BUSINESS
Honda Cars India to roll out hybrid and electric SUVs by FY27, says Prez & CEO
Takuya Tsumura was speaking on the sidelines of third-generation Amaze launch by HCIL. While the first generation of Amaze was introduced in 2013 followed by its next edition in 2018. HCIL sold 5.8 lakh units of the Amaze so far in the country.
BUSINESS
Honda Cars India rolls out 3rd gen Amaze at Rs 7.99 lakh
The third generation Amaze will be taking on the Hyundai Aura, Tata Tigor and the recently-launched Maruti Suzuki Dzire in the segment.
BUSINESS
Year-end push: Next-gen Honda Amaze, Kia Syros and Toyota Camry lined up for this month
Automakers across the spectrum are rolling out cars to cater to every segment starting from a subcompact Sports Utility Vehicle (SUV) at Rs 6 lakh to a high-end sedan priced at Rs 55 lakh.
AUTOMOBILE
E2W sales rise nearly 30% YoY to 1.18 lakh units in November
As per industry watchers, two-wheeler sales are usually weak in November as the festive season concludes by then
BUSINESS
Passenger vehicle sales accelerate 4% to 3.5 lakh units in Nov
Industry players reckon that the yearly growth in the domestic PV market was largely on the back of wedding season demand, continued rural traction and strong offtake of SUVs
BUSINESS
Mahindra gears up to challenge Tata’s EV dominance with premium e-SUVs
Auto analysts believe Mahindra’s new e-SUVs could offer competitive pricing, potentially narrowing the gap between the two automakers. However, views remain divided on whether Mahindra can achieve the necessary volumes to threaten Tata Motors’ market leadership.
BUSINESS
M&M unveils two maiden 'Born Electric' range e-SUVs
Both products are part of the all-new Born Electric range, and based on the 'INGLO' Architecture. Mahindra said the new platform creates better interior space and has a flat floor for passengers.
BUSINESS
Tata doubles down on EV ambitions amid market slowdown
While the company’s franchisee partners started retailing the electric variants of Punch, Tiago, Tigor and Nexon at its EV outlets, it recently accommodated Currv EV (also available in the ICE version) since November
BUSINESS
CNG vehicle sales up ~50% between Jan-Sep '24, poised to outsell diesel cars
While Pune leads in CNG sales (35,144 units), Delhi is second with 31,529 units, followed by Mumbai at 24,056 units (January-September ‘24).
BUSINESS
Expansion Drive: We are growing the portfolio across our brands — Niranjan Gupta, Hero MotoCorp CEO
The Pawan Munjal-led firm had earlier said that it is looking to sharpen its focus on ICE and e-scooters, and also widen its portfolio in the premium motorcycles space.
BUSINESS
Carmakers on an overdrive to clear stocks, hefty discounts stay on even after festive season
While no carmaker has officially announced any price cuts, a FADA source said buyers can expect 20-30 percent discount on ex-showroom price of most models until December 31
BUSINESS
MC Explainer: Why Piyush Goyal told auto firms to prioritise volumes over margins
Per data provided by SIAM, the sales of small cars declined 15.5 percent to 66,000 units between April-September 2024.
BUSINESS
Amid demand concerns, Piyush Goyal urges automakers to cut prices for sales boost
Seemingly referring to Hyundai, the minister said the auto industry is sitting on high margins and should look at more competitive pricing
BUSINESS
Despite festive jump in sales, car dealers grapple with inventory worth Rs 75,000 crore
As per auto retail body FADA, potential challenges such as inventory overstock and economic headwinds may affect sales momentum during November and December this year.
