The industry needs stimuli to help revive consumer demand and conversions.
Honda Motorcycle and Scooter India (HMSI), India's second-largest two-wheeler maker, on Wednesday revealed its electric vehicle (EV) roadmap, which includes setting up a dedicated EV factory, launching the first two EVs in 2023-24, and establishing 6,000 battery exchange points in the country. HMSI plans to establish a specialised unit for the manufacturing of electric vehicles (EVs), named 'Factory E', at its Narsapura plant located in Karnataka. Factory E will be created by converting an existing production line that currently manufactures internal combustion engine (ICE) vehicles, said Atsushi Ogata, HMSI managing director and chief executive officer.
The S&P BSE Sensex ended up 129 points at 26,843 and the Nifty50 ended up 39 points at 8,220.
Maruti's sales of the compact segment comprising Swift, Estilo, Ritz, Dzire and Baleno went up by 9.9% to 45,579 units
Passenger vehicle wholesales in India increased by 17 per cent in the second quarter of the current fiscal year as buying sentiment improved and companies stocked up to cater to enhanced demand in the festive season, auto industry body SIAM said on Friday. According to the latest data by the Society of Indian Automobile Manufacturers (SIAM), passenger vehicles sales in the July-September quarter increased to 726,232 units from 620,620 units in the same period last year. Similarly, two-wheeler sales during the September quarter this fiscal rose marginally to 46,90,565 units as compared with 46,82,571 units in the same period last fiscal. However, commercial vehicles sales saw a dip of 20.13 per cent at 133,524 units in the quarter under review as compared with 167,173 units in July-September 2019.
Besides electric vehicles, some start-ups present are working in the area of bike customisation, motorsports, auto gaming arena, autonomous vehicle and so on
Have a Plan B in place if the tide turns against you.
Auto stocks led the rally with Tata Motors, Hero MotoCorp and Maruti Suzuki leading the gains.
In addition to new launches and restructuring across product segments, festival demand also aided growth.
A single application and a plethora of services for passenger cars - that is what myTVS, a brand that operates under Ki Mobility Solutions and is part of the TVS family, is set to bring to customers, in a bid to disrupt the concept of "super apps" in India. Starting July 15, myTVS will launch its connected car platform or super app called myTVS Life360 for aftermarket passenger cars. Through it, customers will be able to avail themselves of a range of services like maintenance, diagnostics, roadside assistance, accessories, payments, insurance, and so on.
Can Bhavish Aggarwal upend the electric two-wheeler market, which is now overwhelmingly in favour of scooters?
Two-wheeler exports from India fell by 17.8 per cent to 3.65 million units in 2022-23 (FY23), according to data released by the Society of Indian Automobile Manufacturers (Siam) on Thursday. This decline is due to a rise in global inflation and the weakening of economies and currencies in key export markets of Africa, Latin America (LatAm), and South Asia. In contrast to FY23, two-wheeler exports from India jumped 35.4 per cent to 4.44 million units in 2021-22 (FY22).
Maruti Suzuki, Hyundai, Mahindra and Toyota reported low single-digit sales growth for the month owing to weak market sentiment
At Prestige Polygon Towers in Chennai's Teynampet, hectic preparations are on for a mega global investors' meet under the aegis of Guidance Tamil Nadu (the state investment promotion agency) scheduled for January 2024. Asked about the key focus areas of the meet, the agency's managing director and chief executive officer, V Vishnu, said the state was betting big on electric mobility. This is no surprise, given that the state has signed electric vehicle (EV)-related memorandums of understanding (MoUs) with several companies in the recent past that may bring in investments worth around Rs 33,000 crore with the potential to create over 43,000 job opportunities.
The challenges of transition to stricter emission norm BS-VI from BS-IV and compliance to new safety norms thereby making vehicles costlier are lurking around the sector.
Companies like Yamaha Motor India, Honda Motorcycle and Scooter India, Suzuki Motorcycle India and TVS Motors are all geared up to launch bikes to shake-up Bajaj's stronghold -- the 150-250-cc segment
Market leader Maruti Suzuki India's passenger vehicles sales declined by 2.34 per cent last month at 133,702 units. Hero MotoCorp reported total two-wheeler sales of 480,196 units last month, down 20.05 per cent.
As competition hots up, more and more scooter manufacturers are turning their attention to the female buyers. Here are five scooters that are getting the desired attention.
A team of more than 60 people under Neeraj Mittal, an IAS officer, was instrumental in getting up the New Industrial Policy 2021 targeting investments of around Rs 10 trillion by 2025.
To be able to tide over the current crisis, automobile manufacturers have waged a war against all cost heads.
Domestic passenger vehicle sales declined 0.84 per cent to 2,63,773 units in November from 2,66,000 units in the year-ago period. Motorcycle sales, too, declined 14.87 per cent to 8,93,538 units. Vehicle sales across categories registered a decline of 12.05 per cent to 17,92,415 units from 20,38,007 units in November 2018.
The BSE Midcap index has declined 5.7% thus far in May 2018. In comparison, the S&P BSE Small-cap index has lost 5.6%
The $100-billion SAIC would have a dedicated manufacturing facility in India, and would be the first Chinese automaker to do so.
The list of companies skipping dividends in FY19 includes some of the country's largest firms and industry leaders such Tata Motors, Avenue Supermart, Future Retail and Vodafone Idea, among others.
The most important positive of India's stealth bull market is earnings growth across different sectors, explains Debashis Basu.
Even as domestic passenger car sales declined 29.4 per cent between April and August this year, exports grew 6.5 per cent, partially cushioning the blow from slowing sales.
In a rare face off, captains of the auto industry have hit out at the government for not walking the talk. At an industry event in the capital on Wednesday, R C Bhargava, chairman of India's largest carmaker Maruti Suzuki, and Venu Srinivasan, chairman of TVS Motor, questioned the government's intent to support the auto sector. Revenue secretary Tarun Bajaj sat in the audience listening, before his turn came to counter them.
Prices of all metals - from steel to copper, aluminium, zinc and lead - have shot up by about 5-11 per cent in the past month. Commodity inflation is raising its head, forcing companies to consider price hikes.
The 30-share Sensex ended higher by 30 points.
Now, you can own a two-wheeler for Rs 18.5 per day
Maruti will showcase its first concept electric vehicle, the e-SURVIVOR; M&M it's six new EVs, including two futuristic concepts
Industry representatives have said from the second half of the year, they hope to see revival because the rural economy is looking up and the projects the government has announced.
Broader markets underperformed indices with BSE Midcap down 0.43% while the Smallcap index fell 0.07%.
IT sector replaces auto sector after a 6-month gap.
Vehicle prices have gone up as manufacturers gear up for the transition to stricter emission norm BS-VI from BS-IV beginning April 1.
Maruti Suzuki, Hyundai and Mahindra failed to register significant growth.
New launches as well as upgrades to existing scooter models marked this year as manufacturers competed with each other to satiate the demand for new and interesting automatic scooters.
Passenger vehicle sales continue to drop in June; Maruti, Hyundai, Tata Motors, Toyota witness decline. Mahindra & Mahindra, however, reported a 4 per cent growth.
EV players suggest a reduction in the goods and services tax on batteries from 18 to 5 per cent as it would help push demand.
Markets surged in late trades to snap five-day losing streak led by bank shares.
