Leading carmakers Maruti Suzuki and Hyundai on Thursday reported a dip in wholesales in July as companies reduced vehicle dispatches to dealers amid moderation in demand. Maruti Suzuki India said its total domestic passenger vehicle sales stood at 137,463 units in July against 152,126 units in the year-ago month, down 9.64 per cent.
Tamil Nadu -- often dubbed as India's own Detroit due to its thriving automobile manufacturing ecosystem -- is in no mood to miss the EV bus either. Recent developments attest to it. Vietnamese electric vehicle (EV) maker VinFast has promised a $2 billion plant in the southern state. And as promised earlier, the work on Tata Motors-JLR plant will kick off next week, on September 28, after the foundation stone laying ceremony.
'Price competition is fierce, with many companies selling at zero margin.' 'This pricing pressure is challenging smaller companies and will likely drive some out of the market over time.'
Consumer electronics maker Toshiba on Wednesday launched its new range of LCD television, Regza, in India priced between Rs 48,300 to Rs 2,24,990.
The way video is being watched and monetised is changing. This is the first thing that stands out as the penetration of smart TVs continues to rise.
On the other hand, mobile accessories, medical equipment energy efficient CFL lamps, set top boxes, compact disc, toys and books will be cheaper on account of some tax concessions offered on these items by Finance Minister Pranab Mukherjee in the Union Budget for 2010-11.
Under regulatory scanner, Bengaluru-based Ola Electric has witnessed an uptick in its sales after facing a decline during the last few months. The company's daily average sales rose to 1,154 units in October, according to Vahan data from the Ministry of Road Transport and Highways (MoRTH). With sales reaching 17,315 units between October 1 and October 15, the company has also boosted its market share to 34 per cent, up from 27 per cent in September, in the electric two-wheeler (e2W) segment.
Ahead of the festive season, several passenger and commercial vehicle manufacturers have agreed to offer discounts of 1.5-3 per cent on new vehicle purchase against scrapped old vehicles after a meeting with Union Minister Nitin Gadkari, an official statement said on Tuesday. The statement further said Mercedes Benz India has offered a flat discount of Rs 25,000, which will be over and above all existing discounts. Union Road Transport and Highways (RT&H) Minister Nitin Gadkari on Tuesday chaired a meeting with the SIAM delegation at Bharat Mandapam, where he addressed pressing issues in the automobile industry.
Targeting the 'popular' segment, India's leading two wheeler major TVS Motor Company on Monday launched a 100 cc four-stroke motor cycle, with variable timing intelligent (VTi) engines, claiming to give more mileage to consumers.
Recognised as one of the Stars of Asia by Business Week International, Venu Srinivasan, the chairman and managing director of TVS Motor Company.
Two-wheeler maker TVS Motor Co on Monday reported a 3.71 per cent sales rise in February 2004 to 96,408 units over 92,951 units in the same month last year and said it would launch a variant of Fiero motorcycle this month.
Congress chief Mallikarjuna Kharge said that if voted to power, the party would provide loans at three per cent interest rate for farmers, journalists, women's self help groups, potters, handloom weavers, fishermen and shepherds. All pending loans under the Ashraya and Awaz Yojana scheme will also be waived off.Free colour TVs and 25 kg of rice at Rs 2 for families living below the poverty line that is what the Congress manifesto promises.
TVS Motor Company's ambition to become the second largest two-wheeler player in the country is pegged on a twin strategy.
The Ministry of Heavy Industries announced on Tuesday that it has received bids from seven players for the re-bidding tender of the 10 gigawatt-hour (Gwh) tranche of the Advanced Chemistry Cell (ACC) manufacturing production-linked incentive (PLI). "The list of bidders (in alphabetical order) who have submitted bids in response to this tender are ACME Cleantech Solutions, Amara Raja Advanced Cell Technologies, Anvi Power Industries, JSW Neo Energy, Reliance Industries, Lucas TVS, and Waaree Energies for a cumulative capacity of 70 Gwh," the ministry said in a statement. After the re-auctioning for the manufacturing unit was announced in January, the pre-bid meeting was held on February 12, the ministry said.
'The combination of star power, compelling storytelling, and action-packed drama promises to set the box office ablaze and kickstart the new quarter on a spectacular high note.'
Srinivasan had moved the court yesterday seeking anticipatory bail in connection with an idol theft case.
AAERB's permission for RAPP-7 paves the way for the subsequent phases of reactor commissioning leading to its commercial electricity generation.
The environment ministry is likely to soon issue regulations that will mandate automakers to recycle a specified percentage of steel from old vehicles, starting from the next financial year, according to people familiar with the matter. "We recently held a meeting with members of the Society of Indian Automobile Manufacturers (Siam). "The final regulations are likely to be issued in the next 10 days," a government source informed.
Industry leaders on Thursday mourned the death of Ratan Tata saying with his demise India has lost a visionary who shaped its industrial and philanthropic landscape. Tata was a truly remarkable business leader who placed the country before business interests, and whose vision was truly transformational for a country and its people, TVS Motor Co Chairman Emeritus Venu Srinivasan said in a statement. "Mr Tata was a truly remarkable business leader, the likes of whom nations get only once in a century," he added.
Venu Srinivasan, CMD of TVS Motor, believes that margin pressures will continue due to raw material costs. He further states that the company hopes to maintain gross margins in FY07.
These are the top buyers of the scrapped electoral bonds, the data for which was released by the Election Commission on Thursday.
Rohan Murthy, the only son of his parents, has found his life partner in Lakshmi Venu, the 26-year-old daughter of TVS Motor co-chairman Venu Srinivasan. In no time after confirmation from the bride and the groom, the two families sealed the merger of souls with their engagement in Chennai on Friday evening.
Hitachi will spend Rs 12 crore (Rs 120 million) to advertise and promote its LCD and plasma TVs in India and plans to capture a 20 per cent market share in the high-end plasma TV market by 2007-08.
Citing unviable duty structure on key components like flat panels and open cell parts, Samsung had shuttered its TV assembly lines in Tamil Nadu in 2018.
Diesel fuel injection systems supplier Delphi-TVS on Saturday said it would invest Rs 500 crore (Rs 5 billion) to manufacture common rail fuel injection systems and set up a technical centre in Chennai for product development.
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.
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.
The move comes on the back of the potential for the conventional televisions in India. Industry watchers said high-end televisions were gaining popularity in urban markets, while first-time buyers and rural markets prefer conventional televisions. Globally, Sony has taken a strategic decision to exit from the CRT TV business from this month-end due to a slow demand. Sony had reduced LCD prices to align with Korean duo LG Electronics and Samsung a few months back.
TVS Motor Company on Tuesday said it would set up a Rs 500 crore plant at Nanjungud in Karnataka to make a foray into the fast growing three-wheeler market.
TVS Motor Company has reported a 30 per cent decline in its motorcycle sales during November 2003 at 48,052 units compared to 68,631 units in the same month last year.
It was expected that supplies from China will be back to normal by end-June as their factories are now operating at nearly 90 per cent of normal capacity. But the recent issue with shipments has placed an obstacle that manufacturers can't bypass.
The scope of services includes the suite of IT infrastructure and applications across the enterprise.
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.
Zetwerk is not exactly a household name, but this unicorn, boasting revenues of Rs 11,450 crore as of last year, is among the top four electronics manufacturers in India. The startup is capitalising on a notable trend in smart TV sales - fall in collective shipments from top brands like Xiaomi, Samsung, LG and an uptick in the market share of smaller, regional, and online brands. Emerging as a key Electronics Manufacturing Services (EMS) player, Zetwerk operates a plant in Haryana that caters to 10 per cent of the country's overall smart TV production capacity.
