BUSINESS
Unable to expand capacity due to semiconductor crisis, says Rajesh Jejurikar, M&M
Production takes a 15-17% hit. The next wave of capacity increase will come 6-7 months later. That’s when M&M hopes to see the number of open bookings come down.
AUTOMOBILE
McLaren Artura hybrid supercar launched in India at Rs 5.1 crore
While the company didn’t share the sales target for the new car, it has confirmed that one unit of this model has already been delivered to a customer in Mumbai.
BUSINESS
Uber India to introduce 'Uber Green' in June, to go all-electric by 2040
The new electric vehicle or EV-specific offering will initially be available in Delhi, Mumbai and Bengaluru before being rolled out in other cities
BUSINESS
Simple Energy rolls out Simple One e-scooter for Rs 1.45 lakh
Simple One delivers a claimed range of 212 km in Indian driving conditions, making it the longest- range electric two-wheeler in the domestic market.
BUSINESS
Carmakers to pump in over Rs 1.2 lakh crore on capacity expansion, product development
A healthy order book driven by pent-up demand and higher incomes, especially of sport utility vehicles (SUVs), and better availability of semiconductors, will support domestic growth, though exports remain sluggish, the CRISIL report said.
BUSINESS
Anticipating double-digit growth on strong domestic market and softening commodity prices, says Anshuman Singhania, MD, JK Tyre
The current growth in the automobile sector should result in a 10-12% expansion in the tyre market, feels Singhania.
BUSINESS
Luxury carmakers set to drive in 10 e-SUVs by 2025
With the addition of SUVs in their EV or electric vehicle line-up, most high-end carmakers foresee 15-25 percent of their overall sales coming from non-ICE or internal combustion engine models
BUSINESS
Our uniquely differentiated e-motorcycle will have a strong Royal Enfield DNA: CEO
B. Govindarajan said that the company is currently collaborating with battery manufacturers, system integrators and other suppliers. The new electric Royal Enfields will be rolled out from the company’s Vallam Vadagal plant on the outskirts of Chennai in the initial phase, he said.
BUSINESS
Tata Motors hikes capex by about 27% to Rs 38,000 crore for JLR and PV biz
In a post Q4 earnings call, P B Balaji, Group CFO, said for JLR, the funds will be spent on fortifying the portfolio, launching new products, new platforms, and debottlenecking. On the outlook for the current financial year, Balaji said he remains “optimistic on demand”.
BUSINESS
ICE motorcycles to remain relevant and co-exist with E2Ws in the coming decade: Siddhartha Lal, MD, Eicher Motors
Capex for Royal Enfield to be around Rs 1,000 crore for FY 2024, which is 33% higher than in the previous year.
BUSINESS
`Creating an ecosystem for EVs is not just about building charging stations’, says Renault India MD
He emphasised that internal combustion engine vehicles will continue to coexist with EVs, and said that the company will bring its flex-fuel engine technology to India if there’s a demand.
BUSINESS
Gabriel India joins hands with Inalfa Roof Systems to roll out sunroofs for PVs
The demand for sunroofs in passenger vehicles has grown at a fast clip in the last few years. Per industry estimates, the automotive sunroof market in India could cross 7 lakh units this year, as against 5 lakh units in 2022
BUSINESS
Luxury carmakers eye 2X growth rate of PV market in 2023
Industry estimates put the number of luxury vehicles sold in India in 2022 at around 34,000 units. That’s up 50% from 2021. Yet, this segment accounted for just 1% of the overall PV market in 2022. In 2023, the figure may rise by 0.1-0.2%
BUSINESS
Passenger vehicle retail sales drop in April 2023: FADA data
The PV segment, which achieved record sales in FY23, slowed down in April, primarily due to last year's high base and on-board diagnostics 2A norms. This led to price hikes and advanced purchases in March, says FADA.
BUSINESS
Bajaj Auto capex this year to be largely on building E3W capabilities: CFO
The company’s electric three-wheelers (E3Ws) will be introduced soon in both the passenger and cargo categories in select locations in the first phase.
BUSINESS
Electric two-wheeler sales skid in April 2023 on subsidy withdrawal; Ola Electric bucks the trend
As many as 14 E2W manufacturers are reportedly under the government’s scanner for allegedly claiming FAME-II subsidies in violation of minimum localisation norms
BUSINESS
Two-wheeler sales rev up in April led by strong show in home market
Bajaj Auto reported a 95 percent jump in sales in the domestic market. TVS Motor saw domestic sales surge 29%, while Suzuki recorded 23% year-on-year growth. Hero MotoCorp, however, disappointed on all counts.
BUSINESS
Maruti foresees minimal cannibalistion between Fronx & Brezza
Srivastava said the consumer profiles of both the models are different, as is their design
BUSINESS
Maruti Suzuki, Hyundai lead zoom in April car sales, fight out chip crisis
Wholesale dispatches of passenger vehicles remained at healthy levels in April even amid concerns over moderation in demand on account of the rise in the cost of ownership, ICRA said.
BUSINESS
Exicom seeks to get 50% of revenue from EV charging business
Exicom is investing Rs 100 crore in a manufacturing facility for chargers in Hyderabad, which will more than double its production capacity.
BUSINESS
A responsible EV startup is for the betterment of E2W industry: Bajaj Auto’s Rakesh Sharma
The company’s executive director says such companies are good for legacy institutions like Bajaj Auto as ‘it keeps us on our toes’
BUSINESS
Six-airbag rule will lead to price hikes: Maruti Suzuki Chairman RC Bhargava
You can’t put in airbags without a price hike, says Bhargava. He says the company is fully equipped for that regulation and its competitive position would not get impacted. He acknowledged that the demand for smaller cars is stagnant and buyers are increasingly preferring SUVs.
BUSINESS
Morris Garages India rolls out Comet EV at Rs 7.98 lakh
The bookings for this model will commence on 15th May, 2023 followed by deliveries in the same month in select cities. Comet EV becomes the most affordable electric car in the Indian market
BUSINESS
Will Mercedes Benz India follow its global strategy and go all-electric by 2030?
According to media reports, Mercedes Benz has said it will commit $47 billion to the electrification of its lineup by 2030.
