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.
In 1989 when Bajaj came out with their legendary and elegant Hamara Bajaj campaign, that looked more at apna India, rather than the scooter, and at all hues of scootered Indians, it drew millions of eyeballs and was brilliantly successful.
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The two-wheeler sector has been underperforming its peers on the volumes front for over five quarters now. Even in the March quarter, Bajaj Auto and Hero MotoCorp posted a 17-24 per cent YoY decline in volumes, the sharpest in the listed auto universe. The ongoing impact of frequent price hikes, all-time high fuel prices, and muted rural sentiment has led to the lacklustre showing by two-wheeler makers. What has aggravated the situation for two-wheeler companies, which get almost all their sales from the internal combustion engine or ICE-based units, is the traction for electric two-wheelers (EV).
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India has a history of jugaad, and retrofitting vehicles is one such manifestation of the legendary Indian skill. Not so long ago autorickshaws and small Marutis used to strap on subsidised LPG cylinders and power themselves to a cheap ride. There were the odd explosions, lives were lost, but the jugaad continued. Then compressed natural gas (CNG) was introduced in Delhi following a court order. Initially, customised CNG kits were fitted to conventional (internal combustion engine or ICE) autos cheaply, enabling commuting at less than half of what you would cough up for diesel. The industry is better organised now with Suzuki and Hyundai designing CNG-fired vehicles, and Mahindra and TVS manufacturing liquefied petroleum gas (LPG)-powered three wheelers.
Only a few thousand chargers dot the Indian landscape, some in working condition, others not, with some held hostage to the power supply vagaries of local utilities, reports S Dinakar.
Nanpakal Nerathu Mayakkam is a masterpiece, and like most masterpieces of the cinema, it's a great act of folly, observes Sreehari Nair.
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.
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This crisis has arisen just as demand in India's auto sector started seeing some sort of revival after the nationwide lockdown in March/April.
Uber CEO Dara Khosrowshahi says the younger generation doesn't dream of owning a car, but instead wants the freedom of having any service on demand.
The 30-share Sensex ended down 66 points at 28,438 and the Nifty ended down 15 points at 8,633.
The apex court bench, comprising Justices J S Khehar and Adarsh Kumar Goel, heard senior lawyers including U R Lalit for almost two hours before saying that the high court order "does not call for" any intervention.
If receipts from disinvestment, tax buoyancy and black money scheme offset shortfall in spectrum sale, higher expenditure due to pay commission's recommendations and capital expenditure, then the government would be able to meet the target of controlling fiscal deficit at 3.5 per cent of GDP this financial year.
'It has been a quick evolution.' 'That is because he saw the big names playing in the IPL and he played alongside them; that transformed him as a batsman.' 'I would say now he is perfect.'
'All those photographs I had seen before about Ladakh were not photoshopped.' 'Ladakh, truly, was nature's masterpiece.'
No tyres of any description have rolled out of its factories in Sahagunj (West Bengal) or Ambattur (Tamil Nadu) since 2011 and 2012, respectively.
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.
