Compact sedans (Maruti Dzire, Hyundai Aura, Tata Tigor)' share in the overall sedan category grew from 68% in 2021 to 74.6% in 2024. Mid-sedans' (Honda City, Maruti Ciaz, Volkswagen Virtus) share declined from 26.2% in 2021 to 20.2%.
The Indian government has initiated the process of procuring All-Terrain Vehicles (ATVs) for deployment along the northern borders for the Indian Army. The Ministry of Defence has issued a Request for Information (RFI) seeking vendors who can supply the vehicles. The RFI outlines operational and technical specifications for the ATVs, including a minimum seating capacity of four personnel, disc brakes, automatic transmission, and heliportability by Chinook/Mi26 helicopters.
Overall, volume growth is likely to be in the range of 3-8 per cent for two-wheelers and 5-7 per cent for passenger vehicles owing to healthy demand from urban and rural areas and pending order books.
The country's largest airline IndiGo on Friday saw its profit after tax slide 18.3 per cent to Rs 2,448.8 crore in the three months ended December 2024 due to foreign exchange loss even as revenue jumped on higher capacity and passenger traffic. The carrier, which had a fleet of 437 planes at the end of December, is planning to induct wet leased planes for long range flights and expects the number of grounded aircraft to come down to 40s by the start of next financial year from the current level of 60s.
Passenger vehicle retail sales in India witnessed a 5 per cent on-year decline in August on account of delayed customer purchases, poor consumer sentiment and persistent heavy rains, industry body FADA said on Thursday. The overall passenger vehicle (PV) registrations last month stood at 309,053 units, as compared to 323,720 units in August 2023.
Retail sales of vehicles across categories in India grew by 11.21 per cent at 32,08,719 units in November, as compared to 28,85,317 units in the same month last year riding on two-wheeler demand, Federation of Automobile Dealers Associations said in Monday. Retail sales of two-wheelers were at 26,15,953 units last month, as compared to 22,58,970 units in November 2023, a growth of 15.8 per cent buoyed by the festive spillover.
Major two-wheeler (2W) manufacturers in India witnessed a single-digit decline in domestic sales in November after dispatches had picked up in October for the festive season when wholesales went up by 14 per cent and retail also grew by 36 per cent.
'We are seeing one of the highest discounts in recent years across companies.' 'October is a crucial month with several festivals coming up.'
Maruti Suzuki, Tata Motors, Mahindra & Mahindra, Hyundai and MG Motors are gearing up to introduce EVs in India.
Auto manufacturers have focused on launching CNG variants of their popular models to meet consumer demand for vehicles with lower running costs.
Two passengers died and 75 others were rescued after a speed boat crashed into a ferry off the Mumbai coast. The ferry, carrying 80 passengers and five crew members, was on its way to Elephanta Islands when the speed boat circled it before crashing into it. The Navy and Coast Guard launched a massive rescue operation, with 11 Navy boats, three Marine Police boats, and a Coast Guard boat deployed. Four helicopters were also involved in the search and rescue operation. Police, Jawaharlal Nehru Port Authority personnel, and local fishermen are assisting in the rescue efforts. Chief Minister Devendra Fadnavis said that seven to eight passengers remain missing.
Passenger vehicle retail sales in India witnessed a 10 per cent on-year jump in July driven by new model launches and enhanced discounts, industry body FADA said on Monday. Total passenger vehicle retail sales rose to 3,20,129 units in July, as compared to 2,90,564 units in July 2023. "Dealers reported benefits from good product availability, attractive schemes, and a wider range of products," the Federation of Automobile Dealers Associations (FADA) vice president C S Vigneshwar said in a statement.
For the first time in history, the luxury car market is poised to cross the sales mark of 50,000 units in 2024, with Mercedes leading the way
Automobile (auto) retail sales in India grew by an impressive 14 per cent in July compared to the same period last year, driven by a surge in the rural economy, good product availability, and product launches. While passenger vehicles (PVs) saw a 10 per cent increase during this period, inventory levels have surged to a historic high of 67-72 days in PVs, equating to Rs 73,000 crore worth of stock, according to the Federation of Automobile Dealers Associations (Fada). This poses a risk to dealer sustainability. Inventory levels in July 2023 were only 50-55 days, equating to a stock worth Rs 49,833 crore. In June 2024, inventory was between 62 and 67 days, with a stock value of Rs 60,000 crore.
Passenger vehicle retail sales in India witnessed a 7 per cent on-year decline in June as severe heatwave conditions resulted in 15 per cent less showroom walk-ins, industry body FADA said on Friday. Overall passenger vehicle registrations stood at 2,81,566 units last month, as compared to 3,02,000 units in June 2023. "Despite improved product availability and substantial discounts aimed at stimulating demand, market sentiment remains subdued due to extreme heat resulting in 15 per cent less walk-ins and delayed monsoons," the Federation of Automobile Dealers Associations (FADA) president Manish Raj Singhania said in a statement.
In its first official engagement with the Indian government, Elon Musk-led Tesla and other global automotive (auto) manufacturers sought clarification on the new electric vehicle (EV) policy, specifically regarding investment guidelines and the timeline for the domestic value addition (DVA) requirement. Officials who attended the meeting told Business Standard that the original equipment manufacturers (OEMs) tried to understand whether the complete investment would be made within three or five years and the duration they would have to achieve the 50 per cent DVA. "The consultation meeting was convened to address queries from auto OEMs.
The production linked incentive scheme (PLI) for automobile and auto components has so far attracted a proposed investment of Rs 67,690 crore, said Economic Survey 2023-24 tabled in Parliament on Monday. A capital of Rs 14,043 crore has been invested till end-March 2024, it stated. Applicants have proposed employment generation of 1.48 lakh, against which 28,884 of jobs have been generated till March 31, 2024, the Economic Surevy 2023-24 stated.
Passenger vehicle wholesales in India declined 2.5 per cent year-on-year to 341,510 units in July, impacted by high base effect as well as companies reducing vehicle dispatches to dealers amid moderation in demand. The overall passenger vehicle (PV) dispatches from companies to dealers stood at 350,355 units in July 2023, automobile industry body Siam said on Wednesday.
'From data on enquiries, we can build what we call a data lake or a data warehouse where data is classified into various cohorts and then we use AI and ML tools to predict demand down the line.'
Passenger vehicle wholesales crossed the 10-lakh mark for the first time ever in the June quarter riding on the back of robust demand for utility vehicles, industry body SIAM said on Friday. Total dispatches of passenger vehicles in the first quarter stood at 10,26,006 units, up 3 per cent as compared with 996,565 units in April-June FY24. Utility vehicle sales rose 18 per cent to 645,794 units in the first quarter as against 547,194 units in the year-ago period.
The ministry of defence in September 2021 signed a Rs 21,935-crore contract with Airbus Defense and Space SA, Spain for supply of 56 aircraft.
You see the Thar is not just a Car.... It is The Thar.
From attractive EMIs to assured buyback guarantees, luxury carmakers have lined up a slew of offers to woo customers this festival season to address dwindling sales amid rising inventories.
Sales of electric vehicles (EVs) in July touched 178,948 units, marking the highest monthly sales this financial year. This represents a 27.9 per cent increase from June, which saw 139,905 units sold, according to the Vahan data from the Ministry of Road Transport and Highways. The strong performance in July contributed to more than one million being sold in the first seven months of the calendar year.
Passenger vehicle retail sales rose to a record high in January driven by robust demand for sports utility vehicles, dealers' body FADA said on Tuesday. Passenger vehicle (PV) sales rose to 3,93,250 units last month, registering a jump of 13 per cent from 3,47,086 units sold in January 2023. "SUV demand along with the introduction of new models, greater availability, effective marketing, consumer schemes and the auspicious wedding season underpinned this strong performance," Federation of Automobile Dealers Associations (FADA) president Manish Raj Singhania said in a statement.
Of the total proposed allocation, over Rs 1 lakh crore is meant for BSNL and MTNL-related expenses, including Rs 82,916 crore infusion in BSNL for technology upgradation and restructuring at BSNL.
Tech titan Google on Wednesday launched the Google Wallet app for Android users in India, allowing them to securely store essentials like boarding passes, loyalty cards, event tickets, and public transport passes. The digital wallet, which becomes operational in India from Wednesday, comes as a complementary service to existing payment app Google Pay, a top official said.
So far this year, around 839,545 electric vehicles have been sold, accounting for approximately 6.69% of the total 12,541,684 vehicles sold.
The Ministry of Heavy Industries (MHI) has debarred Hero Electric and Benling India, two defaulters under its flagship Faster Adoption and Manufacturing of Electric Vehicles in India Phase-II (FAME-II) scheme, from participating in any of its incentive programmes in future. This action follows the ministry's findings that the phased manufacturing programme (PMP) guidelines were violated by these two companies, senior officials told
Tata Motors on Wednesday said it remains confident about the long-term prospects of the electric vehicle segment and termed the fall in sales numbers a "short-term" issue. In an interaction with PTI at the launch of the company's first mid-sized electric SUV, Curvv.ev, at a starting price of Rs 17.49 lakh (with 45 kWh battery) Shailesh Chandra, managing director of Tata Motors Passenger Vehicle and Tata Passenger Electric, said that the company is looking to achieve one-lakh electric vehicle sales this financial year. Curvv EV is the second car based on the advanced Pure EV architecture - acti.ev, which marks Tata Motors' entry into the highly competitive mid-size SUV segment and will be competing with the likes of MG ZS EV, Hyundai Creta and Maruti Suzuki Grand Vitara, among others.
IndiGo share price today: IndiGo share price fell as much as 4.8 per cent to a low of Rs 4,275 per share on the BSE in Monday's intraday trade as investors booked profit in the stock post a its April-June quarter (Q1) results for financial year 2024-25 (FY25). The stock ended 1.36 per cent lower at Rs 4,430 as against a 23-points gain in the benchmark BSE Sensex. The selling also got exacerbated as the management commentary, post Q1FY25 results, highlighted that inflationary pressure could likely dent July-September (Q2FY25) performance.
Manufacturers of electric vehicles (EVs) have been lukewarm to the ad hoc subsidy scheme announced by the Centre for them. Sector majors have not been enthused by the lower level of incentives in the scheme, which has replaced the flagship Faster Adoption and Manufacturing of Electric (and Hybrid) Vehicles-II. Moreover, increased stringency in claiming subsidies and delays in disbursement have been cited by several original equipment manufacturers (OEMs).
The margins of tyre manufacturers could come under pressure given the rise in rubber prices and the moderating demand for tyres. In the past three quarters, the revenue growth for listed tyre companies has moderated from low to mid-single-digit on account of factors such as lower demand in replacement segments, weak export markets and the decline in the average selling prices to car makers (OEMs). Demand trends could remain muted in the near term, given the weak passenger vehicle replacement demand, assuming a typical replacement cycle of 3-5 years, and demand moderation in the OEM segment.
The new four-wheeler (4W) electric vehicle (EV) policy may spur the entry of global majors. The manufacturing policy cuts Customs duty to 15 per cent, given a minimum investment commitment. It calls for a minimum investment of Rs 4,150 crore (about $500 million) for making electric four wheelers (e-4Ws), with manufacturing to commence within three years of approval.
In seeking visa approvals for engineers from China, the company has reasoned that India lacks the expertise to set up such a solar facility.
Fintech major PhonePe on Wednesday announced the launch of its homegrown Indus Appstore specifically for the Indian market, in a bid to compete with global incumbents like Google Play Store and Apple's App Store. The Indus Appstore is PhonePe's attempt at creating a more competitive and localised mobile app store economy for India, which is already the world's largest market for mobile apps.
Smart devices maker Samsung continued to lead the smartphone market in the country for the fourth consecutive quarter in July-September with a 17.2 per cent market share, market research firm Counterpoint said on Wednesday. Shipments of iPhone maker Apple crossed 2.5 million units in the reported quarter thereby registering an all-time high in a quarter, according to the Counterpoint's Monthly India Smartphone Tracker report. "Samsung maintained its leading position for the fourth consecutive quarter with a 17.2 per cent share driven by the success of its A and M series.
Can the launch of smartphones under its own brand name by Finnish company HMD Global - despite having a licence to use the Nokia brand which it bought from Microsoft - help it regain its once dominant position in the mobile phone sweepstakes in India, where it was once routed? In 2009, Nokia was the country's largest MNC with revenues of $4 billion and a market share touching 80 per cent in 2010. After this, its fortunes fell. Although it had been the first global player to set up an assembly plant, not only to assemble phones for the local market but for exports, it had to shut down operations in 2014.
Seven electric two-wheeler companies have suffered a cumulative loss of over Rs 9,000 crore on account of unpaid dues and loss of market after their subsidies were stopped last year, the Society of Manufacturers of Electric Vehicles (SMEV) said on Wednesday. These companies have also been directed by the govt to refund the subsidies availed by them. The audit by SMEV's chartered accountants indicates the total, cumulative damages to affected companies could account for over Rs 9,000 crore on a conservative basis, it noted.
A computer with NPU can handle a wide range of tasks directly on personal devices without relying on a Cloud service.
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