While hybrids, CNG and biofuels found favour in 2018 among many carmakers including Maruti Suzuki, Mercedes-Benz, Toyota and Honda, others such as M&M and Tata Motors have shown full faith in electric vehicles.
Automobile exports from India recovered in the first quarter with all vehicle segments, including passenger vehicles and two-wheelers, witnessing growth following an improvement in the pandemic situation across various international markets. As per the latest SIAM data, total vehicle exports during the April-June quarter this fiscal stood at 14,19,430 units as compared with 436,500 units in the same period of 2020-21 which saw massive disruptions due to the COVID lockdowns across the country, hampering sales as well overseas shipments. SIAM director general Rajesh Menon told PTI that while two-wheeler shipments were better than previous three years, passenger vehicles, three-wheelers and commercial vehicles export numbers were yet to catch up with numbers in the first quarter of 2018-19 fiscal.
UK-based workers of JLR rejected a pay hike offer, saying that it falls short of their expectations, giving rise to a possibility of strike.
Indian consumers are likely to get respite from rising prices just before the festival season. Some consumer companies, including automakers, have indicated that they are planning to pause price hikes just before demand picks up in August, while keeping a close eye on volatile raw material prices.
JLR is the UK's largest carmaker, which has witnessed a complete turnaround in its fortunes since Tata Motors acquired the traditional British brands from Ford 10 years ago.
Of the 15 car manufacturing companies in India, eight have a market share of below 2 per cent, raising questions about their long-term future in a competitive market that has already seen Ford Motors and General Motors slam the door on India.
Companies expect recovery in second half of fiscal as BS VI approaches, claim banks and NBFCs showing greater interest in financing.
There are critics who say the Bommai's government was not able to counter the Congress narrative to paint his administration as corrupt, a factor that helped the Congress surge in the May 10 assembly elections.
Other losers included HCL Tech, Yes Bank, IndusInd Bank, TCS, ONGC, Bajaj Finance, PowerGrid, Vedanta, Asian Paints, NTPC and Hero MotoCorp, which shed up to 4.07 per cent.
The dealers operating in the space have jumped nearly three times over the past two years.
A steady climb in volumes has helped the company double its market share in the segment to 5 per cent in the first six months of the financial year from the year-ago period and it has now set its sights on a 10 per cent share in the next two years.
Ratan Tata, chief of Tata Group, on Friday said the ambitious Rs 100,000 car will be manufactured from three-four places, including West Bengal and Uttaranchal.
While Tata Motors will stop production of commercial vehicles at Pune for three days this week, Maruti Suzuki India will be having its week-long annual maintenance shut down from next week.
Maruti Suzuki India and Tata Motors reported decline in sales during June this year.
Leading automakers Maruti Suzuki, Hyundai and Tata Motors on Thursday reported robust sales in March as a shift towards personal mobility and pent up demand continued to help companies push dispatches to their respective retail partners. Toyota Kirloskar Motor, Honda Cars and Mahindra and Mahindra (M&M) also reported strong sales last month as compared to the year-ago period, when dispatches were adversely impacted due to the impending transition to BSVI from April 2020 and the nationwide lockdown to contain the coronavirus pandemic. The country's largest carmaker Maruti Suzuki India said its domestic sales stood at 1,49,518 units last month. The auto major had reported sales of 76,976 units in March 2020.
Tata Motors on Monday announced that the Tata Nano Standard version (BS2) will be priced at Rs 1 lakh (Rs 100,000) ex Factory Pantnagar (excluding transportation charges and VAT) thereby delivering on the promise made at the unveiling of the car at the Auto Expo in New Delhi last year on January 10th 2008.
The company started the three-day week schedule since December in the wake of a drastic drop in demand. Tata Motors, which had in the recent past resorted to multiple temporary block closures at its units in Jamshedpur, Pune and Lucknow, is also watching the market demand.
As much as 35 per cent to 40 per cent of all vehicles sold in the country across segments will be electric by 2030, up from a mere 2 per cent this year, says a Bain & Co report released today. This translates to 14-16 million new electric vehicles (EVs) selling in a year. The inflexion point, which is now being seen month on month in many segments (such as two-wheelers which hit around 4-5 per cent in December), will be more than visible in 2026, when 4-5 million EVs across segments are expected to be sold, accounting for 15-20 per cent of the total sales, says the report.
With automotive sales entering into a sluggish period, leading commercial vehicle makers are enticing buyers by doling out discounts and lucrative finance options. Tata Motors, for instance, recently run a scheme wherein commercial vehicle buyers would get three months' waiver on equated monthly installments on the vehicle loan. The response, according to the company, was very positive.
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.
Cyrus Mistry had put in place a strategy that would have pulled most of the Tata group's 'legacy hotspots' out of the financial mess from legacy issues and helped turn around the group's finances.
Jimny will be priced between Rs 12.7 lakh and Rs 15.05 lakh.
Reflecting the bearish mood, all sectoral indices, led by metal, teck and healthcare, ended in the negative zone.
Commercial vehicles witnessed a fall of 15-17% in November as buyers struggled to meet margin money requirements, reports Swaraj Baggonkar.
First time in 13 years the company has declined payment of dividend.
'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.'
Just before the 2008 financial crisis made headlines, Indian companies were on a global buying spree. In the fifth part of the series, Dev Chatterjee and Krishna Kant discuss how the crisis came as a black swan event for some, changing the mood from exuberance to despair.
Top gainers of the session included Bajaj Auto, Kotak Bank, M&M, Vedanta, IndusInd Bank, Asian Paints, HDFC Bank, Reliance Industries, HUL, HDFC, ITC, Tata Steel and Tata Motors, rallying up to 5 per cent.
This is largely on the back of Tata Steel's expansion at Kalinganagar, as well as JLR's in China and Brazil
Maurti and Hyundai recorded jump in sales in May.
Model 3 received 180,000 orders worldwide.
Despite superior margins, JLR hasn't had a smooth ride in China.
'Wherever the businesses are not up to the size of the Tata group, Cyrus Mistry initiated actions to move out of those businesses.'
The change in the way the world views India now is a reflection of how Indian industry has re-engineered itself over the past decade.
The company said it has begun intimating customers, who had retained their booking but are not among the first 100,000.
Some 100 component makers worked with Tata Motors for over 3 yrs.
Sally Slym told police they had fought so much that night that she could not talk to her husband any more.
'We aim at establishing India as an early talent hub on a global scale and are actively recruiting professionals in areas like cybersecurity, machine learning, data science, and other relevant fields.'
Bharti Airtel, HDFC Bank, Tata Motors and ITC among the top losers for the day.
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