The entry of SoftBank-backed Ola into the electric scooter (e-scooter) segment is set to power up the overall market and perhaps fast-track the adoption of battery-operated vehicles. But for manufacturers of internal combustion engine (ICE)-powered two-wheelers, such as Bajaj Auto, Hero MotoCorp, and TVS Motor, it will be a double whammy. Not only will they have to contend with the aggressive pricing of Ola's scooter and incur a loss at each unit of the e-scooter sold, the volumes of their regular (ICE) models, too, could feel the squeeze, observed analysts. Ola is expected to price its e-scooter in the range of Rs 85,000-1.1 lakh.
IndusInd Bank was the top gainer in the Sensex pack, soaring around 7 per cent, followed by Axis Bank, Bajaj Finance, ONGC, Titan, Infosys and Tech Mahindra.
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.
Industry representatives have said from the second half of the year, they hope to see revival because the rural economy is looking up and the projects the government has announced.
Employees of public sector banks (PSBs) on Thursday went on two-day strike against the move to privatise public sector banks impacting normal banking operation across the country. Many branches across different parts of the country were shut as the United Forum of Bank Union (UFBU), an umbrella body of nine bank unions including All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW) had given two day strike call. As a result, services such as deposits and withdrawal at branches, cheque clearance and loan approvals might be affected due to the strike. But ATMs are expected to function as usual.
Barely a month after breaking covers, the models -- the Jawa, the Jawa 42 and the Perak -- were sold out, reports Shally Seth Mohile.
The company, however, said sales of the compact segment comprising Swift, Estilo, Ritz were down by 11.9 per cent to 13,882 in July this year as against 15,759 units last year.
Scooters, once the fastest growing sub-segment, also declined for the second consecutive month in September.
Rajesh Alva/Rediff.com reveals the good, bad and ugly of the latest MPV from the Mahindra stable.
Market leaders saw good traction for new cars, including the electric ones.
The strike, however, had no impact on production of auto majors Maruti Suzuki India, Hero MotoCorp, Honda Cars India, Mahindra & Mahindra, Tata Motors and Hyundai Motors India as their plants in various parts of the country functioned normally.
Maruti Suzuki, Hyundai, Mahindra and Toyota reported low single-digit sales growth for the month owing to weak market sentiment
Consumer sentiments have been dampened due to several factors like tight liquidity, high insurance, and high costs
Even as several SEZs are struggling to get off the ground, the Mahindras have managed to kick off their second SEZ at Jaipur, after their first one in Chennai.
In the two-wheeler segment, Bajaj Auto reported 31 per cent jump in total sales at 357,883 units in February against 273,513 units in the same month last year.
For automakers, the festive season is about raking it in through ramped up sales and attractive consumer offers. However, despite the robust demand, what may spoil the party this year is a global shortage of semiconductors.
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.
The government has appointed 10 merchant bankers including Goldman Sachs (India) Securities, Citigroup Global Markets India, and Nomura Financial Advisory and Securities India to manage the mega initial public offering of country's largest insurer LIC. Other selected bankers include SBI Capital Market, JM Financial, Axis Capital, BofA Securities, JP Morgan India, ICICI Securities, and Kotak Mahindra Capital Co Ltd, a circular on the divestment department website said. "Government has finalised the book running lead managers and some other advisors for the IPO of LIC," DIPAM Secretary Tuhin Kanta Pandey tweeted. The divestment department had invited applications for the appointment of merchant bankers on July 15.
Besides, Toyota and MG Motor also reported nil sales as they suspended operations even before the imposition of lockdown on March 25 to check the spread of coronavirus. In two-wheeler segment, niche bike maker Royal Enfield said it had zero sales in the domestic market but exported a total of 91 units last month.
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
Total sales of passenger vehicles, including Scorpio, XUV500, Xylo, Bolero and Verito, stood at 20,748 units as against 20,554 units in April 2012.
Analysts said the demand recovery in two-wheeler and car segments was skewed towards the semi-urban and rural markets.
Domestic passenger vehicle sales declined 0.84 per cent to 2,63,773 units in November from 2,66,000 units in the year-ago period. Motorcycle sales, too, declined 14.87 per cent to 8,93,538 units. Vehicle sales across categories registered a decline of 12.05 per cent to 17,92,415 units from 20,38,007 units in November 2018.
Among major Sensex gainers, ITC rose the most by 2.32 per cent, followed by TCS, M&M, SBI and Bharti Airtel.
As per SIAM data, vehicle sales across categories, including passenger vehicles and two-wheelers and commercial vehicles stood at 18,21,490 units last month as against 23,82,436 units in August 2018, a fall of 23.55 per cent.
After GM's India exit, Ford-Mahindra 'strategic alliance' under spotlight.
Auto companies are now grappling with a slowdown in sales, triggered by pent up demand due to the COVID-led lockdown easing a bit and supply-side issues for raw material.
IL&FS group would resolve debt of Rs 55,000 crore by March 2022, the board of the crisis-hit company has stated in its affidavit filed before the National Company Law Appellate Tribunal (NCLAT). While updating the progress of the resolution progress, the IL&FS board, led by Uday Kotak, said Rs 55,000 crore debt would be resolved through asset monetisation, restructuring and insolvency proceeding initiatives. Some of this has already been completed while the rest is at different stages of resolution, it said in a brief snapshot on the progress made in the ongoing resolution process till December 7, 2021, and suggested estimates of progress to be made by March 2022.
Sales of four- and two-wheelers almost halved in August, compared to the equivalent month last year.
After the easing of lockdown in mid-May, auto companies were able to resume production in a phased manner, but the ramp-up was slow due to a broken supply chain, and lockdown-induced restrictions.
Other major gainers were Tata Steel, Yes bank, Axis Bank, Maruti Suzuki, Tech Mahindra and TCS -- rising as much as 7.09 per cent.
Maruti Suzuki, Hyundai, Honda Cars and Tata Motors posted single digit growth during the period under review while M&M reported decline in sales.
The new SUV from the Tatas will compete with the likes of Jeep Compass, Hyundai Creta, Hyundai Tucson and the Mahindra XUV500.
The industry needs stimuli to help revive consumer demand and conversions.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'I have personally been very keen on investing in lithium ion battery technology for some time.'
Various factors, including robust demand in rural markets and good response to new models, helped in driving the sales.
What worked for Hyundai in India when so many other auto manufacturers have had to eat humble pie? Pavan Lall finds out.
Investors turned cautious weighing weak GDP numbers and continued drop in automobile sales, bringing banking and auto sector stocks under pressure.
Whether it is protecting its turf in its core utility vehicle segment through new model launches, or stepping up investment in electric vehicles, the Anand Mahindra-led firm is leaving nothing to chance
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