Maruti Suzuki, Tata Motors, Mahindra & Mahindra, Hyundai and MG Motors are gearing up to introduce EVs in India.
From watches and sunglasses to trekking/fitness bicycles, online shoppers seem ready to loosen purse strings.
The five-year (2015-16 to 2020-21, or FY21) compound annual growth rate (CAGR) of the overall auto industry is now negative at 2 per cent, against 5.7-per cent growth it saw in the previous five years (from 2010-11 to 2015-16).
Pandemic-hit auto majors are likely to set aside these time-tested strategies for now, and, instead, focus on attractive finance schemes and an enhanced digital experience.
Right now, the 'Lower D' or LD segment -- which the industry defines as a sedan that costs between Rs 1.5 million and Rs 2 million, is longer than 4.5 metres, and powered by an engine of 1.8 litre or larger -- has barely three cars, all of which have been around for over a decade in India. Nevertheless, at least one foreign auto player is looking to bet big on the segment.
Prices of two-wheelers, passenger and commercial vehicles are set to rise 15-25%
According to research by IHS Markit, for an ecosystem still grappling with infrastructure issues -- the high cost of EVs and a greater OEM (original equipment manufacturer) focus on electrifying two-wheelers and commercial vehicles first -- the share of such vehicles is expected to be 4 per cent by 2030, reports Pavan Lall.
The German luxury automaker has already seen its online traffic increase 10-fold this year. Though that has not always translated into sales, Mercedes-Benz says it is continuing to build on what it calls its "touch-free" experience to stay plugged into its consumer base. Under the used car business, more than 150 cars were sold online in January and February.
For Hero MotoCorp, India's largest two-wheeler company, it's a calculated gambit to revive Harley-Davidson whose ride in India has been anything but easy since it got here.When automotive firms embark on alliances, it's a roll of the dice on how such marriages will play out.
Mercedes-Benz India, BMW India and Audi India have lined up over 50 new model launches as they seek to recoup previous year's loss in volumes, reports Shally Seth Mohile.
What will it take for Tesla to plug and play in India? Sector pundits say it's a mix of strategy, getting the price right, timing, the right talent, and above all, patience.
Maruti being the market leader with a disproportionately high share of the passenger car market helped its component makers grow as an industry all these years and hence, the exit from a segment is a jolt if not a big setback.
'More than one brand in a showroom is too risky because customer loyalty in this market is low. Most people don't drive different cars made by the same manufacturer for a lifetime, they experiment.'
Co-founders of India's latest unicorn expected Covid-19 to be a speed breaker; instead it accelerated sales. Cars24 now enjoys more than 90 per cent market share among all other similar online transaction platforms. Dhruv Munjal traces the birth of this used-cars platform.
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