The growth rate could continue for another seven years.
'If it is your second car (electric vehicle), you typically keep it for travel within the city.' 'And the first car (internal combustion engine-run vehicles) can then be used to travel to some other cities.'
The biggest losers in the Sensex pack were Vedanta, Tata Steel, M&M, Tata Motors, Maruti, Hero MotoCorp, PowerGrid, Bharti Airtel, SBI and Coal India -- falling up to 4.48 per cent.
While retail sales at dealerships have suffered the full impact of demonetisation, the growth in wholesale volumes comes as dealers had relatively lower inventory after Diwali in October.
The all-new ZS EV will be available in two variants -- Excite and Exclusive, priced at Rs 21.99 lakh and Rs 25.88 lakh, respectively. The company said it has initiated bookings for the Exclusive variant, while bookings for the Excite trim will commence from July 2022. The model comes with the largest in-segment 50.3-kWh (kilowatt-hour) battery with advanced technology, offering a 461-km certified range in a single charge.
For players like Toyota Kirloskar and Ford, the contribution of UVs to overall sales is now well over 60%.
Cumulative sale at India's top six passenger vehicle (PV) makers dropped 0.7 per cent to 267,000 units, from 269,000 a year before.
Among the stocks that have seen the largest cut by MFs, the DVR shares (shares with differential voting rights) of Tata Motors have seen a cut of 243 basis points (bps) in MFs' stake.
New electric and hybrid vehicles on display as manufacturers plug into environment-friendly segment.
This is the first decline since June this year when car sales declined by 11%.
Maruti sold 191 units of SX4 sedan in January 2014.
However, compared to August, vehicle sales increased by 15.25 per cent on the back of discounts. Maruti led the market in offering heavy discounts and incentives for buyers and dealers, reports Arindam Majumder.
India will not tailor its policies to suit US EV maker Tesla, and its laws and tariff rules will be formulated to attract all-electric vehicle manufacturers from across the world to set up a base in the world's fastest-growing economy, Commerce and Industry Minister Piyush Goyal said. Tesla has been seeking an initial tariff concession that would allow it to offset 70 per cent customs duty for cars priced less than $40,000, and 100 per cent for cars of higher value.
The government on Friday approved an electric-vehicle policy, under which duty concessions will be given to companies setting up manufacturing units in the country with a minimum investment of $500 million, a move aimed at attracting major global players like US-based Tesla. According to an official statement, the companies setting up manufacturing facilities for e-vehicles will be allowed to import a limited number of cars at lower customs duty. The policy seeks to promote India as a manufacturing destination for EVs and attract investment from reputed global EV manufacturers, it added.
The hatchback has been priced strategically at a notch above the Nano and way below the Tata Bolt.
Benchmark equity indices Sensex and Nifty closed higher on Friday after two days of fall, helped by buying in metal, telecom and auto stocks amid a firm trend in global markets. Automakers led by Maruti Suzuki India, Hyundai, Mahindra & Mahindra reporting robust wholesales of passenger vehicles and GST collections crossing Rs 1.50 lakh crore for the third straight month in May also added to the optimism. The 30-share BSE Sensex climbed 118.57 points or 0.19 per cent to settle at 62,547.11.
A strict enforcement of seat belt norms for rear passengers would be more effective than making an alarm go off when people do not belt up, according to officials at car manufacturers. Their comments came a day after Nitin Gadkari, the Union minister for road transport and highways, announced that seat belt alarms would be made mandatory for passengers in the rear seat of a car. "We have taken a decision that there will be a provision that the car seat belt alarm should beep when the rear seat rider is not wearing a seat belt. "We will impose fines if rear seat riders are not wearing seat belts.
Car sales in India surged by 12.87 per cent in December.
Several carmakers, including car market leader Maruti Suzuki India pulled the plug on diesel models citing higher costs for BSVI variants leaving buyers with limited options.
In the domestic market, the Tata Group has lost ground in the passenger car business.
Owing to the poor market conditions and tepid sentiments, the size of the show has shrunk compared to the last edition, which took place in 2018. A majority of the two-wheeler makers, and several car and commercial vehicle makers, have opted out of this year's show, which opens for the media on Wednesday.
'The decrease in the popularity of white cars and the rise in preference for darker colours like black, grey, and blue over the past three years reflect changing consumer attitudes.'
With Onam and Raksha Bandhan just around the corner, the festival season is ready to kick off in full swing. As people embrace the celebratory spirit, companies anticipate a surge in sales this year. Consumer durables firms are expecting strong growth of 40-50 per cent in the premium segment during the upcoming season. Appliance makers also foresee increased demand for cooling appliances - refrigerators and air conditioners - which were impacted by unseasonal rainfall.
Commercial vehicles however declined by 2.83%
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.
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
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
Maruti Ciaz and Ertiga are exempt from the infrastructure cess and so, there is no change in the prices of these models.
Maruti, Hyundai & Mahindra together had 72.5% market share in year's first half.
Apart from a pavilion of vintage cars, there will be a Bollywood corner
Hindustan Motors Limited of C K Birla group will launch multi-utility vehicle manufactured at its Uttarpara plant in the state.
The measures government takes next to push economic growth will be the key for automotive sector
However, notable absentees from the expo will be Honda, Toyota, Ford, BMW, Audi, Lexus, Volvo and Jaguar Land Rover along with two-wheeler majors Hero MotoCorp, Bajaj Auto and TVS Motor Co.
Trend researchers who come from design schools and have an art and sociology background are the latest foot soldiers in the struggle of auto companies to stay ahead in the competitive race.
Maruti will showcase its first concept electric vehicle, the e-SURVIVOR; M&M it's six new EVs, including two futuristic concepts
The new tax regime has also been fuelling sale of SUVs, particularly the compact SUVs
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
Sales of four- and two-wheelers almost halved in August, compared to the equivalent month last year.
The Tata Safari is an SUV which was the big brash brutish bully of the road in the early 2000s before the Toyota Fortuner snatched that crown. The car's styling still harkens back to the pre-Zest era of Tata Motors but there is still a whole lot more than what meets the eye. Therefore, the people at MotorBeam decided to induct the powerful Varicor 400 variant of the new Tata Safari Storme in their long term fleet to test out whether the big burly beast is still relevant or not.
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