Vehicle prices have gone up as manufacturers gear up for the transition to stricter emission norm BS-VI from BS-IV beginning April 1.
The exercise is in keeping with SIAM's voluntary code on vehicle recall
One of the challenges for those car graves is that Indian owners often find markets for their old cars rather than send them to scrapyards.
Last year it had entered Spain, China, Vietnam and Pakistan as well.
New participants included Chinese players such as Great Wall Motors and Haima Automobile along with Olectra.
Making a debut in India with an SUV, Citroen's products in the next couple of years will clearly chart and define its destiny in what has become both a vibrant but also a daunting market for foreign entrants, says Pavan Lall.
India's largest two-wheeler maker by volume - Hero MotoCorp (Hero) - posted a better-than-expected operating performance in the January-March (fourth quarter, or Q4) quarter of 2022-23 (FY23). Riding on higher average selling prices which were up 5 per cent year-on-year (YoY) and volume growth of 7 per cent, the company registered a 12 per cent growth in revenue to Rs 8,306 crore. The company sold 127,000 units in the quarter, largely driven by domestic sales which were up 11.6 per cent, while exports saw a sharp fall of 57 per cent over the year-ago quarter.
Demand for passenger vehicles has been driven by new models, especially in the SUV category with the likes of Maruti Vitara Brezza and Hyundai Creta clocking good numbers
India will have 30 per cent of its two-wheeler industry turning electric by 2030 as new manufacturers lead the shift, said a report on Monday. Passenger vehicles will be 15 per cent electric and the three-wheeler segment 75 per cent electric by 2030, said the report by BNP Paribas called 'India Autos-Electric vehicles: Minutes to midnight'. "We see FY22 as the year of inflection for the two-wheeler EV industry, with an accelerated EV adoption helped by incentives, wider availability, model launches, rise in crude prices and improved general awareness. We see 30 per cent of the 2W industry turning electric by 2030; the pace of incentive withdrawal presents an upside/downside risk," the report (India Autos - Electric vehicles: Minutes to midnight) said.
Car makers are trying hard to boost sales in India.
Vehicle sales across categories registered a decline of 8.62 per cent to 20,86,358 units from 22,83,262 units in May 2018.
Apart from the growing adoption of the internet in the country, brands are drawn to the agility of the medium, its targeted and data driven approach and the increasing cost of offline channels for sales and distribution.
The contractual workers at Halol were severed by 2016 as the contracts were not renewed, while the permanent workers were offered a separation package in the form of a voluntary retirement scheme
Only 36 per cent in Japan and 44 per cent in Germany were willing to use such vehicles.
Maruti Suzuki India Limited (MSIL), the country's largest car maker, has initiated a service campaign to inspect a probable fault and replace a part of the clutch operation system in the Ciaz, its mid-size sedan.
The industry players couldn't hide their disappointment.
Around 625 workers have been fasting since Monday; no disruption of production at the plant
Adani Enterprises' proposed Rs 20,000 crore (Rs 200 billion) fundraising via fresh issue of equity shares through a public offer would be the fourth biggest by Indian companies, excluding banks and non-banking financial companies.
While hybrids, CNG and biofuels found favour in 2018 among many carmakers including Maruti Suzuki, Mercedes-Benz, Toyota and Honda, others such as M&M and Tata Motors have shown full faith in electric vehicles.
India's top listed companies reported their best-ever quarterly net profit of Rs 2.39 trillion in the September quarter of FY22, up 46.4 per cent year-on-year. The earnings were driven by a big surge in the profitability of banks, non-banking financial companies & insurance (BFSI), oil & gas, and metal & mining firms. The combined net profit of these three cyclical sectors were up 87 per cent YoY to a record high of Rs 1.53 trillion, up from Rs 82,000 crore a year ago and Rs 1.08 trillion in Q1FY22.
Falling margins, high inflation pitting workers against management.
The need for larger investment in infrastructure that is the biggest shortcoming, says A V Rajwade.
The next edition of the country's leading automobile show, the Auto Expo, will be held from January 13-18 next year, having been cancelled this year due to the COVID-19 pandemic. The last edition of the biennial automobile show took place in February 2020 amid fears of the spread of the coronavirus across the world. It was supposed to take place in February this year at Greater Noida but was postponed due to the worsening COVID-19 situation.
Mitsubishi Motors on Thursday said it plans to launch its sedan Cedia and sports utility vehicle Montero by the first quarter of the next year in partnership with Hindustan Motors.
In April, MSI had recalled 1,03,311 units of its popular models -- Ertiga, Swift and DZire -- manufactured between November 12, 2013 and February 4, 2014 to replace faulty fuel filler neck.
Commercial vehicles however declined by 2.83%
The customised version could be of Phantom and Ghost series and will be available in limited numbers.
Sources claim that 68-70 per cent of the workers at Halol are permanent ones, while the balance is tilted towards contractual workers at Talegaon.
Just two days before Congress leader Rahul Gandhi-led Bharat Jodo Yatra is scheduled to reach Jammu, two back-to-back explosions rocked a busy locality on the outskirts of the city on Saturday, leaving nine people injured, officials said.
With just a month left in this financial year, electric two-wheeler sales, so far, are at just 62 per cent of the ambitious target of 1 million units set for 2022-23 by the NITI Aayog. According to VAHAN data, compiled by the Society of Manufacturers of Electric Vehicles (SMEV), 620,006 units of electric two-wheelers were sold across the country in FY23 until February 21. Though the industry may miss the 1-million target, sales in FY23 are already up 146 per cent from 249,621 units sold in FY22.
India's flagship automobile show Auto Expo will kick off on Wednesday with companies hoping that new models to be unveiled during the spectacle will help revive demand at a time when the sector is going through a prolonged slump.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries:
Car makers are cautiously optimistic, even as two-wheeler firms are clearly upbeat.
The company had sold 1,813 cars in 2011, JLR said in a statement.
Indian two-wheeler majors Hero MotoCorp and Bajaj Auto are the biggest beneficiaries of this surge and, between the two, they are estimated to control about half of the local market there
The price increase is marginal and the company is confident that the customers will appreciate its efforts to offer globally renowned products at affordable prices.
During April, Maruti Suzuki India's domestic car sales were up 2.72 per cent at 86,481 units, as against 84,188 units in the same month last year.
Joint crack team of Maruti, Tata Motors, M&M to develop hybrid cars in India
The Insurance Regulatory and Development Authority of India (IRDAI) has issued guidelines that will allow car dealers to become Motor Insurance Service Providers (MISP) and offer the policies of multiple general insurers, says Sanjay Kumar Singh.
