BUSINESS
Punch EV will not cannibalise our other electric car sales but will be category creator: Tata Motors MD
Punch EV: The new car aimed at an entirely different segment of buyers, says Shailesh Chandra, who also adds that the overall pace of EV sales growth is expected to begin slowing
BUSINESS
Interim Budget 2024: Auto industry seeks policy consistency, focus on EV
The industry also expects greater support for hybrid vehicles, lower GST on EV spares, and skilling initiatives for the EV workforce
BUSINESS
Entry level two-wheeler segment will bounce back in the coming quarters: Hero MotoCorp CEO
While Hero MotoCorp will continue to bet on the commuter segment in the long run, the overall market will start looking up as government spending and the resulting jobs and incomes push up demand for two-wheelers.
BUSINESS
Why the commuter segment will continue to be the sweet spot for CEAT
As per SIAM, domestic sales in the entry-level scooter segment (75cc-125cc), have dropped from 6.66 million units in 2018-19 to about 4.8 million units in 2022-23. CEAT believes the mass market will continue to be the biggest in the future
BUSINESS
Hero MotoCorp unveils Mavrick 440 roadster, gears up for Feb rollout
Estimated to be priced in the range of Rs 2,10,000-2,20,000 (ex-showroom), the roadster will be available in three variants- base, mid and top
BUSINESS
Mahindra, Maruti battle it out for top spot in SUV market
Both Mahindra and Maruti have been neck to neck in the SUV market race and are vying to keep the top spot. Maruti is hoping to claw its way back to the top after a setback in October-December period of 2023
BUSINESS
No plans for hybrid cars in India as BEVs are 'ultimate destination', says Hyundai Motor India COO
According to Tarun Garg, while Hyundai cars based on hybrid technology are doing very well in the US and Europe, in India, based on the tax structure, the government’s focus is very clearly on electric vehicles
BUSINESS
Hyundai India rolls out facelifted Creta SUV at Rs 10.99 lakh
Since 2nd January, 25,000 units of the refreshed Creta have been booked with 60 percent of the orders being generated from manual transmission version and the remaining 40 percent from automatic transmission one
BUSINESS
PV sales race past 1 million mark in Q3 FY24, up 8.26% YoY, shows SIAM data
While domestic auto sales across all segments grew 19.48 percent YoY, PV exports slipped slightly to 1,69,463 units against 1,70,458 units during this period.
BUSINESS
BMW India against preferential treatment to any brand or tech, seeks duty rationalisation on imported models
BMW Group India President Vikram Pawah's remarks assume significance as the US-based electric car maker Tesla has demanded a reduction in import duties on EVs in India
BUSINESS
Not ditching diesel vehicles as customer demand is strong: Mercedes Benz India VP of sales
Lance Bennett, vice president of sales and marketing, Mercedes Benz India, said that well-heeled customers prefer diesel versions and such vehicles contribute 55 percent of total sales at the company
BUSINESS
Mercedes Benz India records highest-ever sales in 2023, up by 10% at 17,408 units
Mercedes Benz also affirmed that Increased focus on the electric car segment reflected in the growing customer preference for Mercedes-Benz BEV portfolio, that grew by 3X with 4 percent contribution in CY 2023 sales
BUSINESS
December PV sales record 2.65% YoY growth, up 10.61% for CY23: FADA
While giving the near-term outlook, FADA President maintained that the focus will be on clearing pending bookings and launching new 2024 models.
BUSINESS
Vietnam’s VinFast to set up global EV manufacturing hub in Tamil Nadu
VinFast's plant in India will entail an investment outlay of Rs 200-250 crore and will have a capacity of 1.5 lakh units per annum
BUSINESS
CV makers brace for sluggish demand in the fourth quarter
Volumes are expected to remain subdued in the fourth quarter on a YoY basis, driven by the pause in infrastructure activities as the model code of conduct kicks in before the Lok Sabha elections.
BUSINESS
India’s E2W sales post 36% jump in 2023, crossed 8-lakh mark as adoption rates go up
As per VAHAN data, total electric vehicle retail sales in 2023 accounted for around 7% of total automobile sales in India despite a reduction in FAME subsidy
BUSINESS
Car sales breach 40 lakh mark in 2023, up 4.4% YoY in traditionally lean December
During the calendar year 2023, the total sales were 41,08,000 units, up 8.3 percent from 37,92,000 units sold in 2022
BUSINESS
Ola Electric first e-scooter company to get PLI nod
Industry experts estimate that incentive payout under the scheme will be up to 18 percent of the sales value
BUSINESS
Tata Motors, Mahindra betting big on electric SUVs to take on rivals like Tesla
Electric SUVs accounted for 1.3 percent of the overall electric passenger vehicles in CY 2018, and the share has risen to 40.8 percent in CY 2023.
BUSINESS
Tata Motors to focus more on expanding EV category than on retaining market share, says top official
The company expects to sell about 100,000 electric cars in the current financial year, about double the sales of 50,443 units in the previous year.
BUSINESS
Indian auto component industry logs 13% growth to $36.1 billion in H1FY24
The automobile components industry saw turnover grow 12.6% to $36.1 billion for the first half of 2023-24 (April-September 2023), compared with $33.9 billion earned in the corresponding period of FY23, according to a ACMA report
BUSINESS
Kia gearing up to roll out its made-for-India EV by 2025
The company aims to price it close to the Nexon EV, but with a longer range, and will target selling about 10,000 cars a year. However, it is facing challenges localising the battery system.
BUSINESS
Kia India unveils revamped Sonet, deliveries to start by January-March
While the pre-bookings of the revamped Sonet will commence on December 20, the deliveries will kick off by the first quarter of the next calendar year.
BUSINESS
Gogoro India unveils its locally built CrossOver e-scooter, lines up hefty investments for battery swapping ecosystem
Will initially focus on fleet operators to attain critical mass for swapping stations
