BUSINESS
Robust PV and 2W demand puts auto retail sales in fast lane in Nov 2023: FADA
November 2023 saw an overall growth of 18 percent YoY in total retail sales. The two-wheeler, three-wheeler, and passenger vehicle categories recorded impressive YoY growth rates of 21 percent, 23 percent, and 17 percent, respectively.
BUSINESS
Swiggy-backed Rapido enters 4-wheeler cab-hailing segment; will take on Uber, Ola
The statrtup, which has rolled out the service in Delhi, NCR, Bengaluru, and Hyderabad said that it offers a "lowest price guarantee" and a “zero commission” model for its drivers, which differentiates it from the offerings currently in the market. .
BUSINESS
India’s E2W sales surpass 91K units in November as festive cheer continues
The rise in sales comes despite the reduction of the FAME subsidy from 40% to 15% in June of 2023
BUSINESS
Bumper Numbers: Domestic car sales remain in fast lane in November
The comparison with November 2022 might be a `little tricky' because this year’s numbers include the festive season bookings, which happened in October last year. Nonetheless, business has been good
BUSINESS
As Tesla, Fisker eye Indian EV pie, analysts upbeat on domestic companies
A better understanding of the market and established networks will work to the benefit of domestic auto players
BUSINESS
Open to the idea of exploring sub-Rs 20 lakh electric car segment: Tarun Garg, COO, HMIL
Garg revealed that while Hyundai has adopted a bottoms-up approach in the ICEV segment, its approach in EVs will be top-down
BUSINESS
Model Y could be the first model Tesla rolls out in India
While details of the products considered for India remain sketchy, sources associated with the company told Moneycontrol that the Model Y crossover will be the first model to be available in the country
AUTOMOBILE
Tesla's most affordable car for Germany, India likely to be called Model 2
If the development turns out to be true, this will be the second model to be considered by San Carlos, California-based EV maker for India, after Model Y.
BUSINESS
No impact of geopolitical tensions on Hyundai Motor’s Indian operations, says MD & CEO
On the growth outlook for 2024, Kim maintained that it is very optimistic for this calendar year but added that he could not predict the future due to the geopolitical tensions in the Middle East and war between Russia and Ukraine.
BUSINESS
MC Exclusive I Vietnam-based VinFast to enter Indian e-car market by H2 CY2024 amid govt's duty slash plan
Starting by importing completely built units, the company plans to set up a manufacturing unit in India in 2025, where it will assemble models initially and later build them with a higher level of localisation
BUSINESS
Carmakers witness sales bonanza during this year’s festive period
The passenger vehicle industry crossed the one million mark for the first time during the festive season. The easing of semiconductor supplies made it easier for OEMs to complete manufacture on time
BUSINESS
Ashok Leyland betting big on e-LCVs, garners 10,000 orders, says Executive Chairman Dheeraj Hinduja
To launch two e-LCVs in the fourth quarter of this fiscal; the firm is yet to find a strategic partner for its EV division.
BUSINESS
SUV sales in India poised to cross 2-million mark in 2023
Changing consumer preferences, better roads, increased income levels and customisation options are spurring demand for sports utility vehicles
BUSINESS
Challenge global players to invest in India's EV manufacturing, compete with us: M&M's Anish Shah
The central government is reportedly working on a new EV policy that would slash import taxes for global automakers, such as Tesla, which commit to some local manufacturing
BUSINESS
M&M continues to log 51,000 SUV bookings per month
The company has been the second-largest SUV maker for the last five quarters in a row and the number one in revenues over the last many quarters
BUSINESS
Lotus Cars makes India debut with Eletre e-SUV, lines up Emira for 2024
The British carmaker rolled out its first model Eletra, which has been priced at Rs2.55 crore ex-showroom for the base variant, Rs 2.75 crore ex-showroom for the Eletre S and Rs 2.99 crore ex-showroom for the Eletre R variant
BUSINESS
MC Exclusive: Tesla likely to import completely built up EVs from German facility to India
Reports are that Tesla will have to import from Germany because the Indian government is not keen on imports from the company’s China plant. Tesla also plans to launch a Rs 20 lakh EV in India. Importing from Germany is expected to benefit Tesla in terms of import duties too
BUSINESS
Strict action to be taken against E2W firms not complying with FAME2 norms: Dr Hanif Qureshi
Qureshi also highlighted on the significance of having stricter norms to curb auto exhausts, as well as implementation of a monitoring mechanism for the vehicles already sold amid the worsening situation of air pollution across most cities in the country.
BUSINESS
Ongoing war will drive up tyre raw material prices: JK Tyre MD Anshuman Singhania
He revealed that the Israel-Hamas war will impact crude oil prices, which are almost 55 percent of the cost of a tyre
BUSINESS
Will start building cars from our Sanand 2 plant by Q4 FY24: Tata Motors CFO
Already having an annual capacity of 55,000 units across its existing facilities, the new facility will add another 30,000 units per annum to its output
BUSINESS
India much more than consumption story; global leadership next step for Indian cos, says Anish Shah of Mahindra Group
During the interview, a business leader talked about the "Solar Challenge" or "Renewable Challenge" initiated by the Indian Prime Minister, which is helping companies like Mahindra to significantly increase their solar business.
BUSINESS
Domestic car sales hit record high in October on robust festive demand, SUV launches
Industry analysts reckon that carmakers despatched around 3,91,472 units in October, the highest ever monthly sales in the history of the domestic passenger vehicle (PV) market.
BUSINESS
Entry-level PV market indispensable for sustained growth in India: Maruti’s RC Bhargava
The Maruti Suzuki chairman sees hope in the hordes of two-wheeler owners who could become small-car customers as the economy picks up pace
BUSINESS
Reliance-backed Altigreen rolls out neEV Tez L5 E3W in Delhi
The company has collaborated with Exponent Energy to enable rapid charging for its vehicles
