With nearly 100 launches and unveils, the Bharat Mobility Global Expo 2025, held in Delhi from January 17 to 22, made one thing clear to automobile enthusiasts: Electric vehicles (EVs) are the way ahead for the Indian auto market for years to come.
Domestic commercial-vehicle (CV) sales volume will witness significant growth over the next few years and the overall CV volume is likely to reach close to 1-million units by FY24, a report said on Wednesday. The report by credit ratings agency Fitch Ratings also expects growing demand and the resultant rise in operating leverage to boost the profitability of the domestic CV-focused original equipment manufacturers after FY22, despite elevated production costs. A recovery in medium and heavy CVs from multi-year lows, along with sustained growth in light CV categories, will help overall CV volume to reach close to 1-million units by FY24 - the level of the last cyclical peak recorded in FY19, it said.
The Ministry recently issued an order saying 'no authorisation from Petroleum and Natural Gas Regulatory Board is required for setting up of a CNG station.' PNGRB has been since 2009 issuing licences to entities for city gas distribution networks, essentially for retailing compressed natural gas to automobiles and piped cooking gas (piped natural gas or PNG) to households.
Modi said the push towards a gas-based economy where the share of environment-friendly fuel in the energy basket will be increased from 6.2 per cent to 15 per cent by 2030, will create lakhs of jobs and help meet India's COP-21 commitment of cutting emission intensity by 33-35 per cent.
Auto manufacturers have focused on launching CNG variants of their popular models to meet consumer demand for vehicles with lower running costs.
According to reports, by last year, the company has helped its customers save 15 per cent on costs -- around 5-6 per cent on fuel and 15 per cent on fleet utilisation through digital measures.
Almost all of these companies either unveiled their new electric vehicle or alternative energy-powered models.
CNG prices in Mumbai may have to be hiked by about Rs 16 per kg and piped cooking gas by Rs 10 after government decided to divert some of its cheaper domestic gas to Gujarat.
Union Railway Minister Suresh Prabhu flagged off the first CNG (Compressed Natural Gas) based from Haryana's Rewari station.
Bajaj Auto is gearing up to launch clean-energy vehicles including another motorcycle powered by compressed natural gas (CNG), showcase ethanol-powered motorcycles and three-wheelers next month, as well as launch a new Chetak platform early next year, as it closes in on hitting 100,000 monthly sales from clean-energy vehicles this festival season. In an interview with CNBC-TV18, Bajaj Auto managing director Rajiv Bajaj said these initiatives were part of the firm's broader goal to achieve monthly sales of 100,000 clean-energy vehicles this festival season.
The stock of the country's largest passenger vehicle maker, Maruti Suzuki India (MSIL) was down 1.06 per cent in trade on margin pressures in Q1FY24, mixed market share outlook, and earnings impact due to the buyout of Suzuki Motor Gujarat. While MSIL has decided to terminate the contract manufacturing agreement and acquire Suzuki Motor Gujarat, the quantum of payment and mode (cash/equity swap) has not been decided. If the cash option is opted for, there would be a 3.5-4 per cent hit to MSIL's FY25 earnings per share as the deal is expected to be completed by the end of the current financial year.
The likely solution that appears before the AAP government is to seek for a higher quota of domestic natural gas for Delhi, which would bring down auto and cooking gas prices.
Finance Minister Nirmala Sitharaman on Thursday announced a Rs 11.11 lakh crore spending on infrastructure and vowed to continue reforms as she resisted resorting to populist measures in Modi government's last Budget before general elections, instead choosing to stay on the path of cutting deficit while bolstering measures for focus groups.
Price has increased from Rs 41.90 to Rs 45.60.
10 largecaps stocks which stand to gain from the Budget.
Maruti Suzuki India (MSIL) has ambitious plans to increase capacity. It is also seeking shareholders' approval for a complex swap transaction, which would acquire Suzuki Motor Gujarat (SMG), a subsidiary of Suzuki Motor Corporation (SMC) through a preferential offer. SMC already holds 56.37 per cent of MSIL's equity.
Bajaj Auto, the king of the market for CNG-powered passenger three-wheelers, now wants to replicate this dominance in two-wheelers. The difference is that while the former is zooming - registrations for CNG-powered passenger three-wheelers nearly doubled during January-December 2023 - the latter, meaning a market for CNG-powered two-wheelers, does not exist.
Despite a 187 km, seven-line metro network carrying 2.4 million commuters every day, private vehicles rose 92% over the last 15 years
With the government's focus on environment-friendly fuel, Indraprastha Gas, Mahanagar Gas and Suzlon's earning prospects look bright
The stock of the country's largest passenger vehicle maker, Maruti Suzuki India (MSIL), has been hitting successive all-time highs over the past three trading sessions. The rally in the scrip has helped it notch over a 21 per cent gain since the start of February, outperforming the National Stock Exchange Nifty Auto Index. The gains for the leader of small passenger cars have been more recent, as the company still trails the Nifty Auto over one- and two-year periods.
Maruti Suzuki's contribution to the sales revenue of its Japanese parent, Suzuki Motor Corporation (SMC), has touched the highest-ever figure during April-December of FY23. According to SMC's results declared on Tuesday, Maruti's share in its global revenues jumped from 33.42 per cent in April-December of FY22 to 40.93 per cent in the corresponding period of FY23.
The social media platform will give real time information about available public transport in an area through the @TransportDelhi handle and #pollutionfreeDelhi hashtag
The Health and Family Welfare department had issued a detailed order on Sunday, notifying the lockdown in the whole of Delhi, stipulating various restrictions.
Experts say local demand, government policies in retail and refining sector are attracting foreign players.
Moving from pricing control to a free market means stiff competition.
Brokerages expect a further slowdown in Indian firms' revenue and earnings growth in Q4FY25, following low single-digit growth in the preceding three quarters, as factors like weak consumer demand and credit growth linger on.
Unlike the previous visit, where TDP MPs accompanied Naidu to meetings, sources termed the current visit as "low profile", with one-on-one meetings with key Union ministers.
Bajaj Auto Ltd is close to introducing two-wheelers that will use green fuels such as compressed natural gas or liquefied petroleum gas.
According to Siam data, Indian auto companies sold 982,456 units of utility vehicles in the first half of FY23, a 50.29 per cent growth over the corresponding period last year.
The party also attacked Jung over alleged inaction in the compressed natural gas fitness scam, irregularities in the Delhi & District Cricket Association.
It is the end of the road for diesel taxis including those run by aggregators like Ola and Uber in Delhi and National Capital Region.
The world's fastest growing CNG firm Indraprastha Gas Ltd's shares soared 130 per cent on their trading debut at the Bombay Stock Exchange on Friday.
The Supreme Court has directed a series of actions to clean the Taj, including bringing in compressed natural gas (CNG) to replace dirty coal.
India's net oil import bill could widen to $101-104 billion in current fiscal from $96.1 billion in 2023-24 and any escalation in the Iran-Israel conflict could impart an upward pressure on the value of imports, ICRA said on Tuesday. The domestic rating agency said based on its analysis, lower value of Russian oil imports is estimated to have led to savings of $7.9 billion in 11 months (April-February) of 2023-24, up from $5.1 billion in 2022-23.
The International Centre for Automotive Technology at Haryana will authorise usage of labels for each vehicle model and its variant.
There was no confirmation from the district administration of reports that the fire was apparently caused by a rupture in the 36-inch Uran-Mumbai gas pipeline.
Amid a shift in mobility trends and people increasingly opting for less polluting energy sources, sales of compressed natural gas (CNG) vehicles increased more than 82 per cent in the past five years. A total of 729,902 CNG vehicles were sold in 2022-23 against 400,825 in 2017-18, according to VAHAN Dashboard. Though the increase in sales of CNG-powered vehicles has been significant, their share in overall vehicle sales remains minuscule as is the case with EVs.
Larsen and Toubro has outbid Hyundai, Samsung and NPCC to win two major offshore platform contracts from the Oil and Natural Gas Corporation, aggregating over Rs 5,300 crore.
Delhi high court on Friday rejected a plea against exemptions granted to women and two-wheelers in the odd-even car scheme, scheduled to resume from April 15, terming it "premature".
British energy firm BG Group on Thursday said it along with its partners state-owned Oil and Natural Gas Corp and Reliance Industries Ltd will invest $140 million in Panna oil and gas fields
