Chinese electric carmaker BYD is focusing on launching vehicles in the Rs 25-45 lakh price range in India even as it continues to evaluate customer preferences and demand in more affordable segments, its Head of Electric Passenger Vehicles in India Rajeev Chauhan told Business Standard.
The increase in PV sales in September was driven by festive season purchases, with SUV models like Maruti Suzuki's Brezza, Hyundai Creta, Mahindra Scorpio, Ford Ecosport and Honda W-RV witnessing good traction
Hyundai Motors India has flown in over 90 robots from Korea to work on assembly lines in its factory near Chennai. The results are better than expectations
The price is expected to be around Rs 10 lakh, at par with competition.
Eighteen multi-national companies have been slapped show cause notices for alleged violation of Foreign Exchange Regulations involving over Rs 170 crore.
Passenger vehicle wholesale in India increased by 14.19 per cent to 3,10,294 units in October against 2,71,737 units in the same month last year as companies despatched more units to dealers to cater to enhanced demand in the festive season, auto industry body SIAM said on Wednesday. According to the latest data by the Society of Indian Automobile Manufacturers (SIAM), two-wheeler sales also rose 16.88 per cent to 20,53,814 units, compared with 17,57,180 units in the same month last year. Motorcycle sales were at 13,82,749 units as against 11,16,886 units in October 2019, up 23.8 per cent.
Carmakers Mercedes-Benz, Audi, Renault, Kia India and MG Motor on Wednesday announced plans to hike vehicle prices from January to partially offset the impact of rising input costs. They join the likes of market leader Maruti Suzuki India and Tata Motors, which have also made the year-end announcements to raise prices from next month. Audi India said it will increase prices of its entire model range by up to 1.7 per cent, while Mercedes-Benz India noted it will hike the prices by up to 5 per cent from January 1.
A clutch of automakers including Maruti Suzuki, Hero MotoCorp, Mercedes Benz India, Eicher Motors, TVS Motor, and Isuzu Motors India announced they had got the clearance from the governments of the states they operate in to resume operations.
The price of petrol variant of the Verna has been raised by Rs 3,500 (for the base model), while the diesel model has become dearer by Rs 10,000.
Amid slowing volume sales among India's major automakers, Toyota Kirloskar Motor (TKM) has defied the trend with strong growth, driven by demand for hybrid vehicles and a reliable product line up. The company expects this momentum to continue in 2025. "The overall response to our cars has been fabulous. So, we foresee the same momentum in 2025 as well," Sabari Manohar, vice-president, sales-service-used car business, TKM, said.
Bengaluru outpaced Mumbai, Delhi, and Pune in 2023 to become India's leading city for electric car registrations. The city's tech-savvy workforce, increased acceptability, zero road tax, subsidised electricity for EV charging, and a wide charging station network contributed to this surge. Electric car registrations in Karnataka's capital surged more than threefold in 2023 to 8,690 units, overtaking the growth witnessed in the other three cities, according to data from Jato Dynamics
Though both brands belong to the same parent company, Hyundai has issued strict directives to dealer partners to withdraw their applications
The new Santro, with a premium feel, is proof that when it comes to offering latest features and with it design at competitive prices, small cars are no longer shying away from entering a territory once occupied only by larger models, says Pawan Lall.
India's second-biggest carmaker Hyundai Motor India on Monday said it plans to increase prices by the next month.
Driven by strong demand, the overall passenger vehicle dispatches crossed 3.35 lakh units in February as automakers, including Maruti Suzuki India, Hyundai, Tata Motors and Mahindra & Mahindra, reported robust sales during the month. The dispatches of more than 3.35 lakh units last month marked an 11 per cent over February 2022. It was also the highest ever overall wholesales in the month of February. The country's largest carmaker Maruti Suzuki India on Wednesday said its domestic wholesales rose 11 per cent to 155,114 units in February as compared with 140,035 units in the same month last year.
In September, JSW MG Motor India, the newly minted joint venture between SAIC Motor, which is present in 100 countries, and Indian conglomerate JSW Group, launched the Windsor, an electric car that introduced battery as a service (BaaS).
Tata Motors is looking to consolidate its position in the SUV segment as it marks its entry into the highly competitive mid-size space which is currently dominated by South Korean and Japanese carmakers. The Mumbai-based auto major on Monday launched midsize SUV coupe Curvv with petrol and diesel powertrains with a price starting at Rs 9.99 lakh. The company has already unveiled the electric version of the model in August.
'Some of the launches may get deferred due to the semiconductor shortage, which is unlikely to get resolved before the second half of 2022.'
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.
With a slew of new players entering the Indian small car market, segment leaders like Maruti Suzuki India and Hyundai Motor India will face challenge to their domination.
The muted expectation of dealers come at a time when vehicle manufacturers such as Maruti Suzuki, Hyundai Motor, Mahindra & Mahindra and others reported a double-digit fall in wholesale dispatches to dealerships in July and August.
Zest buyers are forced to wait up to six weeks for the automated manual transmission version, available only on this car in the compact sedan segment.
Ford, which had announced to quit the Indian market last year, said it was exploring the possibility of using one of its plants in India to produce electric cars for exports.
What is driving the digital-first approach of traditional, legacy brands? Apart from the growing adoption of the internet in the country, brands are drawn to the agility of the medium.
These companies join the likes of other global firms Hyundai, Suzuki, Toyota, KFC, and Pizza Hut which have also apologised for social media posts by their business associates in Pakistan supporting Kashmir Solidarity Day following backlash in India and call for boycott of their products.
The Verna will be placed in the upper end of the segment priced between Rs 6.21 lakh and Rs 6.36 lakh for the petrol variant and Rs 7.35 lakh for the diesel variant.
The top six auto brands are: Maruti Suzuki, Hyundai, Tata Motors, Toyota, Kia and Mahindra & Mahindra.
Close to 50 models were launched in India in the past 12 months, but companies have not been able to realise their potential due to the pandemic.
In the US, the Hyundai i30 is marketed as the hatchback version of the Elantra sedan.
Strong festive demand in October helped carmakers register a seven-per cent volume growth in the domestic market, even as the largest player, Maruti Suzuki, reported low single-digit growth.
Tata Motors on Friday said it will hike the prices of its passenger vehicles, excluding the Nano, by up to Rs 36,000 from April 1, to offset rising input costs.
Besides their country of origin, General Motors, Ford Motor and Harley-Davidson have another trait in common: all three have failed in India, the world's fifth largest automobile market. All three of them took a tough call to de-prioritise India as a market amid disruption from heightened regulations and sharper focus on capital allocation by the parent.
The two petrol models of the Logan are priced between Rs 428,000 and Rs 644,000, while its diesel model's price range is Rs 547,000 to Rs 651,000. The range overlaps the pricing of the premium hatchbacks as well as of mid-size cars.
Leading carmaker Hyundai Motor India Ltd on Monday announced plans to roll out a CNG version of its bread-and-butter hatchback Santro by this year-end or early 2008.
Hyundai Motor India Ltd on Friday increased prices of all its car models in range of Rs 362 to Rs 2,816 on account of the increased cess announced in this year's budget.
Spiralling car loan rates continue to dent the passenger car market, as Tata Motors, Hyundai and Honda Motors reported slower sales in July over that in the corresponding month last year.
Under pressure after the instant success of Maruti's 'Swift', Hyundai Motors on Wednesday launched an offensive by reducing prices of its Santro Xing by over Rs 19,000.
