BUSINESS
June auto sales up 10% YoY; PV and tractor sales at all-time high
Data released by the Federation of Automobile Dealers Associations indicated that three-wheelers, passenger vehicles, tractor segments saw a growth of 75 percent, 4.79 percent and 41 percent, respectively.
BUSINESS
Maruti Suzuki rolls out Invicto hybrid MPV at Rs 24.79 lakh
The badge-engineered version of the Toyota Innova Hycross, comes with 7- and 8-seat configurations. It will be sold across nearly 470 Nexa retail outlets. Bookings began on June 19. Deliveries have also commenced
BUSINESS
Kia India remains committed to diesel models, will stay away from hybrids
According to Hardeep Brar, Kia India Marketing and Sales Head, the South Korean carmaker will have an electric car ready for India by 2025. So, for the one-and-a-half years until then, introducing a hybrid model "doesn't make any sense"
BUSINESS
Kia India unveils refurbished version of Seltos midsize SUV
The bookings will commence on July 14, and is expected to be available by September this year.
BUSINESS
SUV sales continue to drive demand for PVs in June
Launches, gradual easing of the chip shortage, reduced waiting periods for some models, and production ramp-ups by carmakers are expected to sustain the growth momentum in July as well
BUSINESS
E2W sales tank 60% to 42,124 units in June as prices surge
The price of an E2W has gone up by 15-20 percent as most manufacturers have upped prices, impacting sales. But if manufacturers pass on benefits resulting from lower battery costs following a moderation in lithium prices, then demand for E2Ws may rebound
BUSINESS
No plan to go for sub-Rs 1 lakh electric scooters, says Simple Energy founder & CEO
The company, which recently launched Simple One for Rs 1.45 lakh, is gearing up to launch more e-scooters, an e-motorcycle and an e-car
BUSINESS
BluSmart Mobility to double fleet size to 10,000 e-cars by 2023-end
The Gurgaon-based EV startup, which commenced business in December 2019, has inducted 4,500 electric cars in its fleet so far.
BUSINESS
Startups eye EV play, invest in charging solutions
At least 15 EV startups, with varying technologies and business models, are working on various charging solutions, including stations, equipment and software.
BUSINESS
Omega Seiki Mobility rolls out e-autorickshaw for urban markets
Available in two variants, the electric three-wheeler’s price starts at Rs 1.85 lakh.
BUSINESS
Japanese automakers bank on uptake of hybrid cars
Hybrid vehicles are seen as a stepping stone to carbon-neutral mobility as they are more fuel-efficient and generate less noise than conventional vehicles.
BUSINESS
Volvo Car India introduces C40 Recharge; bookings to begin in August
While the Swedish carmaker didn’t reveal the price points of the C40 Recharge, it indicated that the product will be a bit more expensive than the XC40 Recharge (priced at Rs 56.90 lakh, ex-showroom)
BUSINESS
Maruti Suzuki looking to crack Rs 20 lakh+ segment with Invicto Hybrid MPV
The cross-badged Toyota Innova Hycross will be a testbed for the company’s strategy to move more upmarket in tandem with its Nexa branding
BUSINESS
Electric 2W set for a scooter ride into fast lane for 5-7 years: Hero MotoCorp CEO
Niranjan Gupta said the company will establish a chain of 100 exclusive outlets for Vida e-scooters by March 2024.
BUSINESS
Maruti Suzuki rolls out Jimny at a price tag of Rs 12.74 lakh
With this launch, Maruti is aiming for a 25% share of the SUV market in FY24 with volumes close to 475,000 units.
BUSINESS
Honda's SUV Elevate makes global debut in India
For Honda Cars India, Elevate will be the mainstream product, and the upcoming models will be in the premium segment.
BUSINESS
No plans to phase out diesel engines, says Toyota India top official
Diesel is an important powertrain option for SUVs, for which demand persists. Besides, according to the company, the fuel is no longer considered `dirty.’
BUSINESS
EVs account for 8% sales of total vehicle sales in May: FADA report
Manish Raj Singhania, President of FADA believes that with the RBI expected to hold rates, vehicle demand would remain strong, going forward. But supply chain issues, demand-supply dynamics, and regulatory changes could surprise negatively.
BUSINESS
Auto on Turbo: Carmakers see a rise in sales of automatic, semi-automatic cars
Car buyers are preferring the driving comfort, mileage, and performance of non-manual cars in spite of their somewhat higher price tag.
BUSINESS
Electric two-wheeler sales cross 1 lakh mark in May as subsidy cut sparks buying rush
Sales rose 147 percent year on year to hit a record of 104,845 units in May, as the government announced a subsidy reduction effective June 1
BUSINESS
Car sales continue on uphill drive in May
The momentum expected to carry on to June as chip shortage eases and waiting period reduces
BUSINESS
FAME II subsidy impact: Ola, Ather increase prices, others E2W players expected to follow
While the companies have not shared the impact of the price revisions, industry observers says there will be marginal impact on sales growth over the next two to three months
BUSINESS
E2W companies brace for marginal hit on numbers post cut in subsidy
However, players say the segment should learn to live independent of subsidies. They point out that customers are now increasingly opting for EVs over ICE vehicles.
BUSINESS
CV makers beef up operations to leverage record industry volumes during FY24
According to ICRA, total investments made by the CV industry were estimated at nearly Rs 3,200 to Rs 3,500 crore during last fiscal, and a similar amount is expected for FY24 as well
