Audi plans to focus the Indian market, including deepening market penetration and increasing sales volume.
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.
'Today, we have 2 million active drivers earning through our platform every month.'
Siam argues that a 2040 ban could destabilise ongoing and future investments and threaten millions of jobs in the automotive value chain.
The Cyberster is currently sold in the UK for about Rs 63 lakh and is expected to be priced between Rs 65 lakh and Rs 70 lakhs.
However, the company has not provided a timeline for the launch of the small electric car.
While sedan sales have declined in the mass-market segment in recent years, demand remains strong for BMW sedans, which account for 45 per cent of its sales in India.
Tata Motors, India's largest electric passenger vehicle manufacturer, has signed an agreement with ride-hailing company Uber to supply 25,000 electric vehicles (EVs), the company said. The agreement is the largest EV commitment between an automotive manufacturer and a ride-sharing platform in India. Under the agreement, Uber will deploy Tata Motors' XPRES-T EVs by partnering fleet operators in Delhi National Capital Region, Mumbai, Kolkata, Chennai, Hyderabad, Bengaluru, and Ahmedabad.
Swedish luxury car maker Volvo is planning to launch its fullly electric small SUV EX30 in India this year as part its plans of launching one electric model in the country every year in line with its global ambition of achieving 90-100 per cent sales from electrified cars by 2030, according to a senior company official. Besides, Volvo Car India is also looking at bringing the new XC60 SUV in India this year, its Managing Director Jyoti Malhotra told PTI.
Major two-wheeler manufacturers in India witnessed a double-digit increase in domestic sales in October, driven by the festival fervour.
At a time when fuel prices across the country are going through the roof with no sign of it moderating, electric vehicles seem the likely choice for car buyers who are looking at saving fuel costs. And add to it the negligible maintenance of electric vehicles. Continuing with this revolution with their 2nd offering in the EV segment, Tata Motors now offers the 2021 Tigor EV to its customers. Tigor petrol with its style-back design has always been a stunner since its launch and it still is.
State governments need to focus on building charging infrastructure to realise the goal of transitioning a large proportion of their sales to EVs, reports Ishaan Gera.
Life Insurance Corporation of India's (LIC) annualised premium equivalent (APE) growth remained weak in the fourth quarter of the financial year 2024-25 (Q4FY25) and flat in FY25, but management expects growth to rebound in FY26. The focus remains on improving product mix by increasing share of non-participating or non-par products in the individual APE.
India and the UK on Thursday inked a landmark free trade agreement (FTA) that will cut tariffs on British whisky, cars and an array of items, besides boosting bilateral trade by around $34 billion annually.
The stock of auto component major Bosch was up 2.5 per cent on Wednesday and in the process hit its 52-week high. Expectations of higher volumes of medium and heavy commercial vehicles' (M&HCV), rise in content supplies on account of BS VI stage 2 implementation from April, and improved profitability are some of the positives for the stock. In addition to this, the company appointed a new managing director and joint managing director last week, which will come into effect from July 1.
Why is Shailesh Chandra, managing director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, not worried about the competition?
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.
Passenger vehicle retail sales witnessed 3 per cent on-year decline in May with customers delaying purchases in several states due to India-Pakistan conflict and further softening of demand for entry-level models, dealers' body FADA said on Friday. The passenger vehicle registrations last month stood at 302,214 units, as compared to 311,908 units in May 2024.
Clearly, some of the bullishness of the early days has gone missing. Ola's market share is slipping amid rising competition from incumbents like Bajaj Auto and TVS.
Firodia talked about his plans for the EV-components business, and the components business at large for the group
Kia India Unveils Sketches of Its Revolutionary new SUV
Automotive (auto) major Tata Motors posted a 51 per cent drop in consolidated net profit for the January-March quarter (Q4) of 2024-25 (FY25), to Rs 8,470 crore, due to a deferred tax asset of almost Rs 9,000 crore in the corresponding quarter of the previous financial year and an exceptional item of Rs 566 crore during the quarter. Revenue was up just 0.5 per cent year-on-year (Y-o-Y) at Rs 1.18 trillion for Q4FY25.
There is no impediment to normal operations as Tata Motors puts in place the demerger process of its commercial and passenger vehicles businesses. Instead, the demerger would provide greater manoeuvrability for both new entities to operate independently, according to Tata Motors management. While there may not be immediate value unlocking, it will give investors clarity about future growth and the financials across different segments.
The launch of a range of electric motorbikes (e-bikes) by Bengaluru-based Ola Electric, a first for the company, has disconcerted the industry because the low price the firm claims to be offering has the potential to disrupt the market. On August 15, Ola unveiled its Roadster series e-bike with a starting-price at Rs 74,999. This new pricing undercuts the previous lowest price in the category, which was Rs 110,000.
Tata Motors on Wednesday said it is repositioning its Nexon EV range in the market, with changes in pricing and the addition of new trims, to maintain the leadership position in the segment amid new launches by the competitors. The Nexon EV range now starts from Rs 14.49 lakh. The Nexon EV Prime has now tagged between Rs 14.49 and Rs 16.99 lakh (all prices ex-showroom). Earlier, the starting price was Rs 14.99 lakh for the range.
With India's EV penetration at just 2.5 per cent, the market presents an opportunity -- provided Tesla gets its pricing right.
'We handle close to 3 million rides daily, making us one of the largest players in this segment'
Tata Motors on Tuesday launched its second electric vehicle -- Tigor EV, catering to the personal segment in the domestic market, priced between Rs 11.99 lakh and Rs 13.14 lakh (ex-showroom). The model comes in three variants, priced at Rs 11.99 lakh, Rs 12.49 lakh and Rs 12.99 lakh. A dual tone top-end trim is tagged at Rs 13.14 lakh. The auto major has already achieved success with its first electric model, Nexon EV and now commences deliveries of Tigor EV from around 150 sales outlets in 70 cities across the country.
Hero MotoCorp anticipates a big rebound in two-wheeler (2W) sales in rural India over the next four to eight quarters, driven by favourable factors such as a decent monsoon, rising crop prices, improved employment conditions, and increasing consumer confidence, its chief executive officer (CEO) Niranjan Gupta said on Wednesday. Amid tepid rural sales, he stated that there is a "strong case" for GST (goods and services tax) on entry-level two-wheelers, which are under 125 CC, to be moved down from 28 per cent to 18 per cent as they are used by "masses".
'Wherever the government has provided incentives for the purchase of two-wheelers, three-wheelers, cars, buses, and trucks, it gets a push for most of these alternate fuels. '
India's electric mobility goal, which has so far been riding on two wheels, is all set to graduate to four wheels. At least, the journey has begun. Hyundai Motor India said it would invest Rs 4,000 crore till 2028 to launch half-a-dozen electric vehicles (EVs) in India. It would eventually straddle premium and mass segments. The first of these - the electrified version of an internal combustion engine (ICE)-powered model - will go on sale as early as next year.
Automobile retail sales grew 9 per cent year on year in 2024 riding on the back of robust demand for two-wheelers and passenger vehicles amid challenging business environment, dealers' body FADA said on Tuesday. Overall vehicle registrations stood at 2,61,07,679 units last year as compared to 2,39,28,293 units in the 2023 calendar year, recording a growth of 9 per cent.
Tata Motors on Wednesday said it remains confident about the long-term prospects of the electric vehicle segment and termed the fall in sales numbers a "short-term" issue. In an interaction with PTI at the launch of the company's first mid-sized electric SUV, Curvv.ev, at a starting price of Rs 17.49 lakh (with 45 kWh battery) Shailesh Chandra, managing director of Tata Motors Passenger Vehicle and Tata Passenger Electric, said that the company is looking to achieve one-lakh electric vehicle sales this financial year. Curvv EV is the second car based on the advanced Pure EV architecture - acti.ev, which marks Tata Motors' entry into the highly competitive mid-size SUV segment and will be competing with the likes of MG ZS EV, Hyundai Creta and Maruti Suzuki Grand Vitara, among others.
Maruti Suzuki chairman RC Bhargava has said that reducing carbon emissions does not require making a choice between hybrid and electric cars, and that both can play key and complementary roles if the government wants to achieve its aggressive emissions target. Responding to the fact that the sales numbers of hybrid cars have been higher than electric cars in the last quarter of 2024, Bhargava pointed out: "It has never been about electric versus hybrid. "Both have a clear role to play. By 2030 we expect electric car penetration to be around 20 per cent.
The EV industry is at an inflection point and batteries will play a critical role ahead -- batteries and related components typically constitute 35-45 per cent of an EV's costs.
'Every Indian should move to an EV, and the government should not buy any fossil fuel cars. The government should become the first driver of EV adoption.'
Some of the key names include: Maruti, M&M, Ashok Leyland, Britannia, Ultratech, JK Cement, Havells, Voltas, Amber, Metro, Trent, LemonTree, Indian Hotels, Niva Bupa, HDFC Life, IGL, Acme Solar, Suzlon, Swiggy, Delhivery, ICICI Bank, HDFC Bank, Bajaj Finance, Shriram Finance," according to a report by Motilal Oswal Financial Services.
as the FAME II deadline of March 31, 2024, nears, EV manufacturers are worried about their investments and future plans.
'Unless we consistently show up with the right cars, at the right time, priced fairly, we risk becoming irrelevant very quickly.'
From premium electric motorcycles to mass-market scooters, manufacturers are rapidly expanding their portfolios to capture a larger share of the booming market.
