In doing so, Bajaj has become the first internal combustion engine two-wheeler company to launch an all-electric two-wheeler in India.
The new car, which would come in four variants and two options, is priced between Rs 2.57 lakh and Rs 3.53 lakh.
The domestic car sales rose by a modest 6.7 per cent in August 2003 as market leader Maruti, Fiat and Hindustan Motors suffered a decline even as Hyundai and Tata Motors improved their performance.
Car sales likely to touch record 3-mn mark by the end of March.
Auto makers, who enjoyed a record-breaking sales run over recent months, are now bracing themselves for upheaval, led primarily by changing government policies and rising inflationary pressures.
The company is looking to exploit the upper B+ segment, which has seen high demand growth since the launch of Maruti's Swift, followed by several models like the Hyundai i20, Fiat Grande Punto, Maruti Ritz, Volkswagen Polo and Nissan Micra.
India's first home-grown mapping company MapMyIndia is looking to list in the public market by raising around Rs 1,200 crore at a Rs 6,000-crore valuation. Sources said the company is ready with its draft red herring prospectus documents and is likely to file as early as next week. While the money will be used for business expansion, it will also give MapMyIndia's early investors, including Qualcomm, PhonePe, and Japanese mapmaker Zenrin Co., a chance to exit. The Verma family, which founded the company, will continue to remain promoters.
From Alto to Audi, get car discounts of up to Rs 900,000
The hatchback market is getting very competitive with almost all big players flooding it with trendy models to get a piece of this lucrative pie.
Nano, the small car from the Tatas, is projected to become India's second best selling car next year, according to market research firm JD Power.
Will you ditch Honda City or Hyundai Verna for Maruti's latest offering?
Urban and rural FMCG sales growth data for the last five quarters show the latter outperformed the former consistently.
In the domestic market, the car has been well accepted and currently the company has over 80,000 bookings for the model.
Customers, instead of visiting showroms, now do most of their decision-making in the comfort of their drawing rooms using internet
Auto sales have been declining for 13 straight months as a broader slowdown in the economy has crippled demand across the country.
Fiat India Automobiles Ltd, a 50:50 joint venture between Italy-based Fiat SpA and domestic auto major Tata Motors, plans to position the car in the premium hatchback segment along with Maruti Suzuki's Ritz, Hyundai's i20, Skoda's Fabia and to be launched Honda Siel's Jazz, the company said.
Japanese automobile company Mitsubishi Motors may launch a compact car in the B segment in the country. The car is expected to hit the roads in three years. Though Mitsubishi sells Pajero SUV and Lancer sedan in India, they have not generated adequate volumes for the Japanese automobile company. The compact car will take on Maruti Swift, Hyundai Getz, Skoda Fabia, Fiat Palio, Chevrolet U-VA and Ford Fusion
Chennai and Ennore ports are set to become hub for car exports from South India. After Hyundai, the two ports have started attracting global manufacturers like Renault SA, Nissan, and Ford.
The lockdown in Maharashtra will have a catastrophic impact on April sales, as dealers will not be able to realise the potential of festivities like Ugadi, Gudi Padwa, Baisakhi and Poila Boishakh.
Prices of second-hand cars, mainly compact ones, have fallen 15-20% in the last few days. Dealers in the unorganised market fear a further price dip of 10 per cent when delivery starts and the Nano is seen prominently on roads. The Nano, expected to sport an on-road price of Rs 1.25-1.3 lakh for the no-frills, base version, will compete with the compact cars of Hyundai Motors, Maruti Suzuki, Tata Motors and General Motors.
Good sowing of kharif crops, better minimum support prices, and fewer Covid-19 cases (in villages) will help the rural growth story to continue, says Maruti.
However, it has an auditory feature that throws up a soft but audible whirring sound like a spaceship while driving as well as a different tone on the outside to let bystanders know a car is on its way, says Pavan Lall.
On the highway, it pulls along with ease and offers smooth commuter ride and drive experience, and also has little competition, says Pavan Lall.
Riding on the success of Ford Ikon and Ford Fiesta, in the mid-size sedan segment, Ford plans to roll out the new car by March.
'This is purely a brand sale. It includes the Ambassador with its variants. Peugeot is likely to relaunch the brand with multiple variants.'
For players like Toyota Kirloskar and Ford, the contribution of UVs to overall sales is now well over 60%.
After GM's India exit, Ford-Mahindra 'strategic alliance' under spotlight.
One can see the scale of recalls going up as the market expands.
The Italian car company Fiat's much-awaited launch of the year, Grande Punto hatchback, which is expected to take on Maruti Suzuki's Swift and Hyundai's Getz, will not be priced close to the two models.
The second-generation Tata Indica will be called Indica Vista. The car that was previewed for the public at the Auto Expo, New Delhi this year will carry the new tag to differentiate itself from the Indica that is currently in production.
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