BUSINESS
Passenger vehicle sales decline by 2% to 3.5 lakh units in August
Industry players reckoned that the the YoY sales figures are not comparable as the festive season came in early during August last year
BUSINESS
Hybrid cars surge ahead with 27% growth in India, outpacing electric vehicles
Popular models like the Toyota Innova Hycross and Maruti Grand Vitara Hybrid are driving a surge in hybrid car sales as consumers seek practical and eco-friendly options.
BUSINESS
Expect more laws to boost domestic vehicle scrapping market in coming years, says Maruti Suzuki's RC Bhargava
Stricter norms and enforcement will create a market for outdated vehicles, he said. The chairman also outlined Maruti's plans which include a bevy of EVs soon and a new 1-million-unit plant. Bhargava is also very clear that the small car is not dead, and will see a strong revival within a couple of years
BUSINESS
Bajaj Auto working on 100cc version of Freedom CNG motorbike
Industry analysts tracking the auto sector said that while it is technically feasible to build a 100cc CNG dual-fuel bike, there might be some teething troubles
BUSINESS
TVS Motor banks on rural markets to drive scooter sales
The homegrown two-wheeler manufacturer expects the scooter segment to grow further and account for around 40 per cent of its overall two-wheeler sales.
BUSINESS
Passenger vehicle dealers saddled with inventory worth Rs 73,000 crore countrywide, claims FADA
The auto retail body has said that the vehicle stockpile has climbed to 70-75 days now as against the ideal inventory of 30-35 days.
BUSINESS
Hero MotoCorp looking to sharpen focus on ICE and EV scooters, widen portfolio in premium motorcycles
CEO Niranjan Gupta says that the company's EV range will expand into the mid and affordable segment by the end of this financial year.
BUSINESS
Royal Enfield counting on new launches and first-time buyers to drive up volumes
The middleweight bikemaker is also betting big on Hunter 350, which was launched in August 2022, and is incidentally its most affordable motorcycle (priced at Rs 1.5 lakh)
BUSINESS
Mahindra looks to disrupt the SUV market with an aggressively priced Thar Roxx
Experts believe that M&M's aim to lead the Rs. 12.5+ lakh SUV segment is ambitious but not unrealistic.
BUSINESS
High-End Hesitation: Luxury automakers wary of new EV policy amid demand jitters
Luxury carmakers feel the Indian market has not yet evolved to a point that justifies investment in the local manufacture of premium EVs, which cost Rs 50 lakh and above.
BUSINESS
Mahindra rolls out Thar Roxx at Rs 12.99 lakh, to commence deliveries in early October
M&M has invested around Rs 1,100 crore in the development, including creating additional production capacity for the five door Thar, which was designed at the Mahindra India Design Studio (MIDS) in Mumbai
BUSINESS
With E-Class launch, Mercedes Benz expects sedan share to rise to 50% of total sales
Once launched, the E-Class LWB will be taking on the just-launched BMW 5 Series LWB and soon-to-be-launched Audi A6. Estimated to be priced upward of Rs 80 lakh (ex-showroom), the luxury saloon will be available in both petrol and diesel options.
BUSINESS
Government awaits FAME II dues worth Rs 300 crore from Hero Electric, Okinawa and Benling
To be sure, OEMs which are yet to repay the government, have contested the government’s claims and some of them have already taken legal recourse to resolve the issue.
BUSINESS
TVS Motor to spend Rs 2,200 crore on capex, product development, launches during FY25
The Chennai-based company is eyeing a double-digit growth in volumes during this fiscal, on the back of a revival in the rural markets.
BUSINESS
Amara Raja to scout for external funding for its EV battery business, may explore an IPO
Amara Raja Advanced Cell Technologies is building a 16 GWH lithium-ion cell production and battery pack assembly facility in Telangana. After attaining 50 percent of the desired output, it will look for stake dilution.
BUSINESS
India must focus on solutions like EVs to ensure energy independence: G20 Sherpa Amitabh Kant
Kant also said that transition to low carbon technologies relies hugely on Lithium-ion technologies which are crucial for powering Electric Vehicles and New Energy sectors
BUSINESS
Government welcomes FDI in auto sector, including from China, says Hanif Qureshi
Heavy industries additional secretary Hanif Qureshi says the FAME3 outlay has not been finalised as the ministry is gathering views from various quarters of the automobile industry
BUSINESS
JSW MG Motor India gears up to roll out Windsor e-CUV, anticipates 250% growth in EV sales in 2024
Positioned as an intelligent crossover utility vehicle, the company stated that the USP of this car will be the functionality of an SUV and the interior space of a sedan
BUSINESS
JSW MG Motor India rolls out charging superapp 'eHub' for EV owners
It enables access to the almost entire charging network of the country through partnerships with leading providers like Adani Total Energies Limited (ATEL), BPCL, Chargezone, Glida, HPCL, Jio-BP, Shell, Statiq, Zeon, and many others who shall be on-boarded soon
BUSINESS
Product development, capacity expansion plans for EVs on track, says JK Tyre’s Anshuman Singhania
JK Tyre doesn’t see much of a slowdown in the bus segment, where it is a big player, and the company has also bagged ‘sizeable orders’ across EV segments, Singhania has said
BUSINESS
Will never reduce our focus on buyers who cannot afford expensive cars: Maruti Suzuki Chairman
Bhargava stated that it is awaiting a government policy framework to promote all green technologies, including strong hybrids, to replace petrol and diesel vehicles and reduce carbon dioxide emissions
BUSINESS
PV sales hit a speedbreaker in July, fall 2.5% to 3.44 lakh units YoY
During the first four months of this financial year, PV sales stood at 13.75 lakh, just a shade higher from 13.5 lakh units during the corresponding period a year ago
BUSINESS
No plans to leverage EV policy for JLR, says Tata Motors CFO
Tata Motors believes that the EV policy is not aligned with Jaguar Land Rover's India strategy and it has no plans to utilise that policy to expand the British luxury brand's business in India
BUSINESS
Lacklustre EV volumes a temporary aberration: Tata Motors CFO
CFO Balaji attributed the decline in sales to a notable drop in demand after the FAME-II subsidy scheme concluded in March
