Major automobile manufacturers like Maruti Suzuki, Hyundai, Mahindra & Mahindra, Tata Motors and Toyota Kirloskar on Tuesday reported decline in domestic passenger vehicle sales in May compared to the previous month as a spike in COVID-19 cases and lockdowns across various states hit production and dispatches. The country's largest carmaker Maruti Suzuki India (MSI), which shut production from May 1 to May 16 so as to divert oxygen from industrial use for medical purposes, reported domestic dispatches to dealers at 35,293 units last month, down 75 per cent from 142,454 units in April. The company said sales of its mini cars, comprising Alto and S-Presso, declined by 81 per cent to 4,760 units in May as against 25,041 units in April this year.
More and more women are making their presence felt in jobs related to sciences, technology, and engineering across organisations.
The country's largest carmaker Maruti Suzuki India (MSI) on Monday reported a 11.8 per cent increase in wholesales to 164,469 units in February. The company had sold 147,110 units in February last year, Maruti Suzuki India (MSI) said in a statement. Domestic sales increased 11.8 per cent to 1,52,983 units last month, as against 1,36,849 units in February 2020, it added.
The limited availability of flexible (flex)-fuel vehicles in the Indian market and the slow rollout of ethanol-blended petrol by oil-marketing companies (OMCs) remain major obstacles to achieving widespread use of biofuels in the transportation sector in India. Recently, two Union ministers have emphasised India's biofuel potential, arguing that it has the capacity and potential to lead a transition towards widespread biofuel adoption. Road Transport Minister Nitin Gadkari signalled that this transition is well underway and urged car manufacturers to quickly adapt and introduce new biofuel-run vehicles, lest the government resort to taxing diesel vehicles.
Higher disposable incomes, rural push and infra push to boost auto sector
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No capital came in through the approval route, while the rest of $9,86,681 was by way of issuance of rupee denominated bonds.
Senior Tesla executives including those from its supply chain are planning to come to India on Wednesday and Thursday for meetings with government officials, including those in the Prime Minister's Office, according to sources. Prashant R Menon, director of Tesla India, did not respond to a specific query on the meetings. Sources say that the executives are coming to see how they can expand and develop local sourcing of components from India for the Tesla car.
The wait for the world's cheapest car could soon be over as Tata Motors could commence limited commercial production of the Rs 100,000 Nano from alternate locations so that the first car could roll out towards the end of March 2009 from Pantnagar till the mother plant came up in Sanand near Ahmedabad.
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Raamdeo Agrawal of Motilal Oswal Securities believes that the scope for surprises in the market in 2007 is limited; he expects 17-18% returns. Moreover, he says that there is no major concern at Sensex valuation of 17-18x.
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About 1,556 shares have advanced, 1,211 shares declined, and 182 shares are unchanged.
Tata Motors has launched an introductory limited period price-off offer of Rs 25,000 on the new 1.2 litre engine option to the Indica V2 Xeta range.
What has hit sentiment further is a draft proposal by the government to increase vehicle insurance premiums for financial year 2022-23 (FY23). Third-party motor insurance premiums have not been increased over the last two years and if this is approved, insurance costs for specific segments could rise by a fifth. The worst impacted is the 350cc and above two-wheeler segment, where premiums are up 21 per cent. Royal Enfield (Eicher Motor) is the market leader in the segment. The premiums in the 150-350cc two-wheeler category are also being inc
Model 3 received 180,000 orders worldwide.
Sales of diesel-powered utility vehicles have been declining in the past six months as the differential between petrol and diesel prices narrowed.
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It epitomises a significant opportunity lost, just when the state was beginning to shed three decades of leftist inhibitions in favour of economic reform.
Auto stocks will be in focus
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After land survey, field survey would start and on completion of that process, the land owners would receive their respective lands
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The investment will be made through a joint venture with Toshiba and Denso. The battery is the most expensive single part of an EV.
Indian two-wheeler majors Hero MotoCorp and Bajaj Auto are the biggest beneficiaries of this surge and, between the two, they are estimated to control about half of the local market there
India Inc's cash pile was up 13.8 per cent last fiscal year, thanks to a combination of higher profits in sectors such as IT and fund raising by top companies such a Reliance Industries, Bharti Airtel and Tata Motors, among others.
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India Inc raised $2.78 billion from overseas markets in October this year, up 44 per cent from a year ago, according to the Reserve Bank data released on Friday.
According to research by IHS Markit, for an ecosystem still grappling with infrastructure issues -- the high cost of EVs and a greater OEM (original equipment manufacturer) focus on electrifying two-wheelers and commercial vehicles first -- the share of such vehicles is expected to be 4 per cent by 2030, reports Pavan Lall.
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The Bombay Stock Exchange 30-share index resumed better at 21,278.08
The Duke of Edinburgh has been pictured back behind the wheel of a new Land Rover on Saturday afternoon on the Sandringham estate, the royal family's Norfolk retreat near to which the Thursday's accident took place, the Telegraph reported.
Higher input cost is likely to weigh on Auto sector's Q4 numbers.
The dealers operating in the space have jumped nearly three times over the past two years.
A number of private companies have contributed to the development of ISRO's Chandrayaan-3 spacecraft which successfully landed near the south pole of the Moon on Wednesday evening.
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Automobile companies are worried about challenges from electric mobility, automation and connected vehicles.
Midcap stocks continued to remain on buyers' radar with BSE Midcap index up 0.1%.
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