BUSINESS
Luxury carmakers on course to hit record 45,000 units in annual sales; post double-digit growth in Jan-Sept 2023
Automakers including Mercedes, Audi, BMW, JLR and Volvo have sold around 33,000 units during the first nine months of this year as against 36,000 units sold in 2022
BUSINESS
Win Diesel: Why diesel cars will continue to burn rubber for a while
While the proportion of diesel vehicles is expected to come down in the long term, auto analysts do not foresee a complete wipeout of this powertrain. JATO Dynamics predicts the share of diesels will come down to 15 percent by 2024-end, and dwindle further to 7.5 percent by 2030-end
AUTOMOBILE
Grand Vitara SUV likely to be Maruti Suzuki’s first model to be equipped with ADAS
Midsize SUVs like the new Kia Seltos are ahead of the curve in terms of features, relative to Maruti Suzuki. The Grand Vitara quickly needs to upgrade to cater to the highly aspirational customers in this segment, for whom advanced driver assist system (ADAS) is a high priority
BUSINESS
Low rural incomes continue to impact sales of entry-level two-wheelers, cars: SIAM president
Another possible factor that is hurting entry-level segment sales is the preference for utility vehicles.
BUSINESS
PV sales touch all-time high in Q2; UVs account for nearly 60% of volumes
Vinod Aggarwal, President of SIAM, said that sales of entry-level cars continued to skid due to the constant stress in the rural economy
BUSINESS
Carmakers dole out discount offers to lure entry-level hatch and sedan buyers
While entry-level hatchbacks are offered at discounted prices of Rs 20,000-30,000, some high-end premium e-SUVs are available at Rs 2 lakh less than the prevailing ex-showroom prices. No discounts are available on high-end SUVs which have heavy demand
BUSINESS
EV players seek policy support after GST Council rejects demand to cut tax on lithium-ion batteries
Stakeholders say it is critical to lower the GST for a specific duration to entice consumers to wholeheartedly adopt electric vehicles until the market matures
BUSINESS
10,000 Indians could sign up for car subscription services this year
Since it is a new concept, conversions will be much better after consumers understand the concept, said one company executive. The number of subscribed cars may account for 10% of the total passenger vehicle market in the next couple of years, say industry players
BUSINESS
Revenue share more important for us than volume share in SUV market: M&M Automotive Division President
As Maruti Suzuki gains market share leadership, Veejay Nakra tells Moneycontrol that M&M's immediate priority is ramping up output of bestselling models, working on new products and variants, and expediting delivery of waitlisted models.
BUSINESS
Sept sales of electric two-wheelers register modest monthly growth at 62,692 units
Following the cut in subsidies on E2Ws in May, volumes plunged from 1,05,527 units in the same month to 46,057 in June. In the following months, volumes slowly started rising
BUSINESS
Buoyed by festive demand, domestic car sales hit historic highs in September
Carmakers said they will continue to sell aggressively in October, when the peak of the festive season sets in with Navaratri, till Diwali in November
BUSINESS
Torrential rains and income woes wash away tractor dreams of rural India
The fall in entry-level automobile products has also been caused by rising prices apart from plateaued incomes for farmers.
BUSINESS
No delay expected in Maruti Suzuki's 2025 EV entry due to low penetration: Chairman RC Bhargava
Bhargava also revealed that it was one of the first automakers which started focussing on EVs by developing the electric variant of WagonR hatchback. However, it didn’t commercially roll out the e-WagonR because the company didn’t find it a “viable proposition”
BUSINESS
Carmakers eye record sales of 1 million units this festival season
This year, the festival season kicked off in late August and will continue till the third week of November.
BUSINESS
Consumers are spending more on automobiles due to YOLO factor: FADA President
He added that about 95 percent of EV owners charge their vehicles at home and a widespread availability of charging infra will help grow the segment manifold
BUSINESS
SUVs to account for 50% of Lexus India's sales by 2024-end, says President
According to sources, the Indian unit of the Japanese luxury carmaker is exploring the feasibility of bringing other models from its global portfolio to India and one of them is expected to be LBX
BUSINESS
Connected cars witness widespread adoption; likely to account for more than half of PV market in 2023
With consumers increasingly opting for technology-equipped cars, all major carmakers in India are redrawing their strategies by rolling out models loaded with hi-tech features.
BUSINESS
Tata Motors to continue with diesel offerings as long as there is demand: MD Shailesh Chandra
According to Shailesh Chandra, MD of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, diesel vehicles could come under pressure after the implementation of BS-VII
BUSINESS
Tata Motors sees latent demand for EVs in rural markets: Shailesh Chandra, MD
Going forward, like with ICE, Chandra sees 40 percent of the demand emanating from rural markets as more affordable EVs enter the fray. He feels there will be a big shift because rural India is very sensitive to the lower running costs of an EV.
BUSINESS
Tata Motors rolls out facelift for Nexon, revamps electric variant
The company claims that the new avatars of the Nexon are expected to appeal to a wider audience of customers
BUSINESS
Need to create robust manufacturing ecosystem for batteries and green hydrogen: Amitabh Kant
Kant underscored the need for creating a robust battery manufacturing ecosystem that would not only reduce dependence on imports but also generate substantial employment opportunities
BUSINESS
Open to take retaliatory measures to curb auto component imports: Piyush Goyal
While Goyal didn't specify the names of the OEMs and their countries of origin, he had indicated early this year at the Asia Economic Dialogue that two South Korean auto manufacturers have cost India “billions of dollars” in trade deficit.
BUSINESS
Carmakers rev up models with Advanced Driver Assistance Systems for safety conscious Indians
MG Motor India, M&M, Hyundai, Honda, Tata Motors and Toyota Kirloskar Motor are among the carmakers betting on the growing market of a tech savvy and safety conscious Indian consumer, estimated to rise to $9.98 billion by 2032 from $2.12 billion now
BUSINESS
Honda Elevate midsize SUV rolled out for Rs 10.99 lakh
Currently, there is a waiting period of 5-6 months for the vehicle. Starting with Elevate, the company plans to launch five SUVs by 2030.
