The charging infrastructure expansion includes the setup of over 600 DC charging stations by 2030 (including company-owned and company-operated ones) in addition to partnerships with over 10,200 charging points, collaborating with operators like Shell, Charge Zone, and Statiq.
Leading automakers Maruti Suzuki, Hyundai and Tata Motors reported decline in wholesales in August as the companies curtailed vehicle dispatches amid drop in demand and to cut inventories at dealer level. Market leader Maruti Suzuki India said its total domestic passenger vehicle wholesales were at 143,075 units last month as compared to 156,114 units in the year-ago month, registering a dip of 8 per cent. Sales of mini segment cars, comprising Alto and S-Presso, declined to 10,648 units last month as against 12,209 units a year ago.
'It will take some more time because the affordability of these cars have changed drastically.'
German luxury carmaker Mercedes-Benz is considering assembling more electric vehicles at its plant in India not merely to gain cost advantage but also to meet its zero emission mobility and carbon neutral setup goals, according to a senior company official. Mercedes-Benz India, which currently assembles its flagship electric luxury sedan EQS at its Chakan unit, is considering localisation of other models depending on demand.
Honda Cars India (HCIL) net profit dropped by 52.8 per cent year-on-year (Y-o-Y) to Rs 661.4 crore in 2023-24 (FY24), primarily due to deferred tax of Rs 359.8 crore, according to the annual results submitted to the Registrar of Companies (RoC) and reviewed by Business Standard. In FY24, the company's production increased by 16 per cent Y-o-Y to 134,807 units.
Prices of various car models -- ranging from entry-level hatchbacks to high-end luxury offerings -- are set to rise as automakers have announced price hikes with effect from January. Carmakers cite an increase in input costs and operational expenses as the main reason to implement price increases from the next month. Industry experts, however, note that the exercise is also undertaken by automakers every year in December to shore up sales volume in the last month of the year, as customers postpone buyouts to later months to get the new year manufactured units.
The manufacturers are not only keen to introduce small cars in India but also luxurious sedans and stunning SUVs.
Stepping up the competition in the electric vehicle (EV) market, JSW MG Motor on Wednesday launched its electric crossover sport utility vehicle (SUV) Windsor with a new and 'aggressive' pricing model, an assured buyback plan, a lifetime battery warranty, and free public charging for one year. Under this new battery-as-a-service (BaaS) pricing model, customers can purchase the Windsor at a starting price of Rs 9.99 lakh (ex-showroom) and then pay a battery usage fee of Rs 3.5 per kilometre (km).
Car sales are experiencing a challenging phase with around Rs 60,000 crore worth of inventory lying unsold with dealers.
What explains India's love affair with SUVs? They are not exactly "value for money" -- the watchword for brands across segments -- nor always practical. Is it for the badge value? Or the butch imagery associated with SUVs? Maybe both, says Alokananda Chakraborty.
Maruti Suzuki India (MSIL) has ambitious plans to increase capacity. It is also seeking shareholders' approval for a complex swap transaction, which would acquire Suzuki Motor Gujarat (SMG), a subsidiary of Suzuki Motor Corporation (SMC) through a preferential offer. SMC already holds 56.37 per cent of MSIL's equity.
Hyundai Motor India Ltd has become the country's fifth most valuable auto firm by market valuation in its debut trade on Tuesday. Shares of Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, listed at Rs 1,931, reflecting a decline of 1.47 per cent against the issue price of Rs 1,960 on the BSE earlier in the day. The stock slumped 7.80 per cent to Rs 1,807.05 during the day and finally ended at Rs 1,820.40 apiece, down 7.12 per cent.
The diesel engine option for almost all SUVs cuts down the burden on commoners, thanks to low diesel price.
Maruti Suzuki, Hyundai and Tata Motors reported a decline in wholesales in September as the companies curtailed dispatches to dealers to reduce inventory build-up amid a decline in demand. Maruti Suzuki India reported a 4 per cent dip in total domestic passenger vehicle wholesales last month to 144,962 units compared to 150,812 units in the year-ago month. The auto major said sales of mini segment cars, comprising Alto and S-Presso, grew marginally to 10,363 units against 10,351 units in September 2023.
For players like Toyota Kirloskar and Ford, the contribution of UVs to overall sales is now well over 60%.
The average car price in India has increased rapidly in the last 5-6 years due to new emission regulations and demand for more spacious and comfortable cars loaded with advanced technology.
The iconic brand is considering petrol powertrains for its entire Indian portfolio, which includes the Jeep Compass, Meridian, Grand Cherokee and Wrangler.
The Maybach GLS 600 4MATIC is the first-ever SUV offering in the company's ultra-luxurious 'Mercedes-Maybach' range. It is the only second Maybach model to be rolled out in the Indian market, following the Mercedes-Maybach S-Class.
Passenger vehicle sales are expected to experience muted growth in the current financial year.
Force Motor planning to launch a Sports Utility Vehicle in the country.
'We participate in the design/development of components and systems for electric vehicles, internal combustion engines, and hybrid vehicles.'
koda Auto India is set to drive in a new car by the first half of next year to reach its target of 100,000 unit annual sales in the country by 2026. The compact sports utility vehicle (SUV) will be positioned against the likes of Maruti Brezza, Hyundai Venue, and Kia Sonet, and would be competitively priced, a senior company official said. koda will also export the car to right-hand-drive markets like Australia, New Zealand and the Asean nations.
The country's largest carmaker Maruti Suzuki India will not "walk away" and fight to get back to 50 per cent market share in the domestic passenger vehicle segment, according to company Chairman R C Bhargava. The auto major, which is commemorating 40 years of operations, has seen its market share drop to 43.38 per cent in FY22 from a peak of 51.21 per cent in FY19. In order to get back its dominant leadership, the company plans to drive in models catering to both urban and smaller cities and rural areas.
The stock of the country's largest passenger vehicle maker, Maruti Suzuki India (MSIL), has been hitting successive all-time highs over the past three trading sessions. The rally in the scrip has helped it notch over a 21 per cent gain since the start of February, outperforming the National Stock Exchange Nifty Auto Index. The gains for the leader of small passenger cars have been more recent, as the company still trails the Nifty Auto over one- and two-year periods.
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.
The company, which already has around 66 per cent market share in the hatchback segment and about 50 per cent in the overall domestic passenger vehicle segment, currently sells Vitara Brezza and S-Cross in the SUV segment. In an interaction with PTI, MSI managing director and CEO Kenichi Ayukawa acknowledged that there was some lag in launching new products due to the pandemic but the company is now on track regarding new model launches.
Alto, the Maruti brand synonymous with small cars, introduced the new generation K10 on Thursday, aiming to consolidate its position further amid shrinking demand for hatchbacks. With prices starting at Rs 399,000 and going up to Rs 533,500 (for manual transmission), the new model claims fuel efficiency of 24.90 km per litre. The Japanese car maker, which has been selling 100 Altos every hour for the last 22 years, had discontinued the model in February 2020.
Hyundai Motor India expects SUV sales to account for 65 per cent of its overall volumes in 2024, while it gears up to enter the EV segment early next year, aiming to garner 20 per cent of its total sales by 2030, its COO Tarun Garg said on Tuesday. The automaker, which got around 60 per cent of its overall volumes from sports utility vehicle (SUV) sales last year, plans to invest Rs 7,000 crore on its second plant at Talegaon, according to Maharashtra Deputy Chief Minister Devendra Fadnavis. The company officials however declined to comment on the matter.
Toyota Kirloskar Motor (TKM) has reported a consolidated net profit of Rs 4,787 crore for 2023-24 (FY24) - more than three times the earnings recorded the previous year. This growth can be attributed to robust demand for its vehicles, particularly hybrid models and cross-badged cars from the Toyota-Suzuki alliance.
To celebrate its 50 years of making SUVs, Ford invited MotorBeam all the way to the Philippines to drive their various offerings at different kinds of terrains to show off their true capabilities.
...But sales of domestic passenger vehicles dropped 2% to 3% year-on-year in August owing to low demand.
Higher exports will also drive up volumes, as the company seeks to avail of the benefits under the government's recently announced production linked incentive scheme.
Maruti to launch SX4 S-Cross while Hyundai will drive in ix25.
Czech automaker Skoda on Monday forayed into the midsize SUV segment in India with the launch of its new offering Kushaq, priced between Rs 10.5 lakh and Rs 17.6 lakh (ex showroom Delhi).
Lamborghini has sold 10,112 cars worldwide -- so India's 100 is certainly a big deal for them. But how big a deal is it for us to peg our consumption theories around, asks Rama Bijapurkar.
'The customer is fast changing, and she demands newer experiences that wealth can buy.'
Two years after winding up its India production, global automobile giant Ford Motor Company is in talks with the Tamil Nadu government to restart operations at Maraimalai Nagar near Chennai, where it will focus on exports. Chief Minister Stalin visited Ford headquarters in Michigan on Tuesday and held discussions with its top management, urging it to restart production. "Had a very engaging discussion with the team from Ford Motors.
The rise of startups and a thriving entrepreneurial culture in Tier-II and Tier-III cities is contributing to the increasing sales of high-end cars.
The stock of Mahindra & Mahindra (M&M) has been touching successive all-time highs on the bourses and, over the past year, gained 81 per cent. While the S&P BSE Auto Index has not performed poorly, registering gains of 73 per cent, it still trails the company by 800 basis points (bps) during this period. There are multiple reasons why investors are beating a path to M&M's counter.
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