BUSINESS
E2W market surges to 62,000 units in August, Ola Electric retains numero uno spot despite dip in nos
The surge in sales happened despite a 25 percent cut in subsidies in May, which resulted in a massive decline in volumes in June. However, the August numbers are lower than the figures prior to the cut in subsidies
BUSINESS
August PV sales hit record high on new SUV models, better semiconductor supply
Maruti Suzuki India reported its highest-ever monthly wholesales at 1,89,082 units in August, up 14 percent YoY.
BUSINESS
Royal Enfield rolls out next-gen Bullet at starting price of Rs 1.73 lakh; to be equipped with J-series engine
Positioned between the Hunter 350 and the Classic 350, the bookings for the all-new Bullet will start from today and deliveries will start from September 3
BUSINESS
Hero MotoCorp revives ‘Karizma’ brand, aims for wider play in premium segment
The new-generation Karizma will take on Suzuki Gixxer SF 250, Yamaha R15, and Bajaj Pulsar RS 200
BUSINESS
Reliance AGM 2023: RIL to establish end-to-end battery gigafactory by 2026
The factory will be involved in the production of the entire supply chain in the space — from battery materials to cells, to packs and battery management systems — and deliver `safe and reliable’ batteries with `high energy density’ and `fast charging capabilities’
BUSINESS
Battery swapping gains traction but still lacks government support
India needs around 4,50,000 battery swapping stations, which entails an investment of about $100 billion. Though the segment is growing rapidly, it currently has only about 1,000 stations
BUSINESS
MORTH rolls out Bharat NCAP, India’s own crash-testing norms for cars
Apart from improving road safety and curbing pollution, the programme is expected to enhance the global competitiveness of Indian vehicles
BUSINESS
Mercedes Benz India rolls out 2nd gen GLC SUV priced at Rs 73.5 lakh
Bookings have touched nearly 1,500 units for this model, for which the company has spent almost Rs 100 crore to retool a production line at its manufacturing facility in India
BUSINESS
Auto component industry clocks $69.7-bn topline in FY23, EVs contribute 2.7%
Auto parts trade deficit narrows to $200 million as exports surge and imports shrink; industry sees double-digit growth this fiscal.
BUSINESS
Mahindra garners 2.81 lakh open SUV orders, to ramp up production to meet demand
The huge volume of pending orders has led to prolonged waiting periods extending up to a year-and-a-half. The company hopes to mitigate this by ramping up production by the end of the financial year
BUSINESS
Royal Enfield ready to take on competition in premium motorcycles: Eicher Motors MD
Royal Enfield is no stranger to competition since it really “started succeeding” 10-15 years ago when it had a lot of growth, said Lal
BUSINESS
E2W sees an uptick at 54,232 units in July 2023, Ola Electric continues to lead the race
Electric two-wheeler manufacturers have seen a resurgence in sales in July and are expecting to do better as the festival season approaches, after the dent in sales in June following subsidy cuts
BUSINESS
Utility vehicle rollouts perk up car sales in July
A gradual easing of the chip shortage, sustained demand for SUVs, and shorter waiting periods for certain models further boosted car sales last month. Industry estimates suggest that 3,52,492 passenger vehicles were sold in the domestic market in July 2023.
BUSINESS
Maruti Suzuki’s Q1 net profit more than doubles to Rs 2,485 crore on robust volumes, price hikes; revenue up 22%
Shortage of electronic components in the quarter resulted in over 28,000 vehicles not being produced. The pending customer orders stood at about 3,55,000 vehicles at the end of the quarter.
BUSINESS
Bajaj Auto will follow Chetak e-scooter playbook to develop e-motorbikes: CFO Thapar
However, Thapar clarified that the availability of electric motorcycles is still some years away due to the challenge in housing the large battery that long-range e-bikes will need.
BUSINESS
Lectrix EV unveils LXS G2.0, 3.0 electric scooters
The company hopes to garner a market share of 3-5 percent in the first year
BUSINESS
Tata Motors Q1 Results: Automaker swings back into profit of Rs 3,203 crore on JLR boost
Revenue from operations increased 42 percent to Rs 1.02 lakh crore in the quarter under review.
BUSINESS
Bajaj Auto Q1 results: Net profit rises 42% to Rs 1,665 crore; revenue up 29%
The rise in net profit for the first quarter is on the back of a favourable product mix, healthy volumes and an increase in the average selling price of its lineup.
BUSINESS
TVS Motor’s Q1 profit up 46% on solid sales and margin growth
The growth in sales and net profit were in line with analyst expectations. TVS Motor expects the growth momentum to continue this year and foresees the premium bike and scooter segments growing on a rise in exports and higher penetration of electric two-wheelers.
AUTOMOBILE
Ashok Leyland Q1 net profit soars 747% YoY to Rs 576 crore
The results were aided by a focus on performance and costs, the company said in a statement. Its shares jumped 3.3 per cent to Rs 181.45 on the BSE after the announcement.
BUSINESS
MG Motor to encompass multiple technologies under 'New Energy Vehicles' to tackle emissions
Even as its focus on EVs and hybrids sharpens, MG Motor will continue to emphasise on the coexistence of ICEs, EVs, and other emergent technologies
BUSINESS
Our newly-launched Exter has set the cat among the pigeons, says Hyundai Motor India COO
On the back of the Exter and other SUVs in it stable, HMIL is confident of growing its overall sales to about 6,00,000 units in CY2023. It hopes that by then the contribution of SUVs, which is 54 percent currently, will go up to 60 percent of its total sales
BUSINESS
Automobile sales continue to ride the momentum in Q1
This comes on the back of product launches, huge order backlog (mostly of SUVs), bullish consumer sentiments, and an acceleration in economic activity.
BUSINESS
Hyundai rolls out Exter micro-SUV at Rs 5.99 lakh, logs 11,000 bookings
The South Korean carmaker claims an ARAI-tested mileage of 19.4kmpl for the manual variant, 19.2 kmpl for the AMT and 27.1km/kg for the CNG version. While the manual trims are priced between Rs 5.99 lakh and Rs 9.31 lakh, the automatic variant is tagged at Rs 7.96 lakh. (All ex-showroom, Delhi).
