Passenger vehicle retail sales rose to a record high in January driven by robust demand for sports utility vehicles, dealers' body FADA said on Tuesday. Passenger vehicle (PV) sales rose to 3,93,250 units last month, registering a jump of 13 per cent from 3,47,086 units sold in January 2023. "SUV demand along with the introduction of new models, greater availability, effective marketing, consumer schemes and the auspicious wedding season underpinned this strong performance," Federation of Automobile Dealers Associations (FADA) president Manish Raj Singhania said in a statement.
Haryana has done well in terms of economic growth over the last couple of decades. For it to continue to lead the growth ladder, the new government has to work hard on multiple dimensions, recommend Shishir Gupta and Rishita Sachdeva.
Manufacturers of electric vehicles (EVs) have been lukewarm to the ad hoc subsidy scheme announced by the Centre for them. Sector majors have not been enthused by the lower level of incentives in the scheme, which has replaced the flagship Faster Adoption and Manufacturing of Electric (and Hybrid) Vehicles-II. Moreover, increased stringency in claiming subsidies and delays in disbursement have been cited by several original equipment manufacturers (OEMs).
Based on discussions with stakeholders, the ministry is proposing to allocate Rs 26,400 crore for FAME-III subsidy alone with electric two wheelers getting around Rs 8,158 crore, electric buses Rs 9,600 crore and electric three-wheelers Rs 4,100 crore, according to sources in the know. Along with some other components like setting up an innovation fund and money for testing , the total allocation could cross Rs 33,000 crore, estimates suggest.
Domestic passenger vehicle wholesales rose by around 4 per cent year-on-year in November, driven by robust demand for utility vehicles, industry body SIAM said on Tuesday. Passenger vehicle dispatches from companies to dealers rose to 334,130 units last month, the best ever figure for the month of November, from 322,268 units in same month last year. Two-wheeler sales rose to 16,23,399 units last month, a growth of 31 per cent as compared to 12,36,282 units in November 2022.
After selling brands like Pulsar, Boxer, Platina and RE in over 70 countries, Bajaj Auto plans to enter Thailand this year followed by Brazil next year.
The India meteorological department (IMD) on Wednesday evening issued a red alert for Mumbai and its neighbouring districts, predicting "extremely heavy rainfall".
Kinetic on Wednesday relaunched the iconic two-wheeler Luna in an electric avatar, addressing the demand for affordable electric vehicles (EVs), more than two decades after its initial introduction. e-Luna will be available at an introductory ex-showroom price of Rs 69,990, as announced by Sulajja Firodia Motwani, founder and chief executive officer of Kinetic Green, after Union Road Minister Nitin Gadkari launched the vehicle. Motwani pointed out that the current top 10 electric two-wheelers in the country are priced between Rs 1.05 lakh and Rs 1.49 lakh, making them a "luxury" that is not "practical and accessible" for most people in India.
The Rs 6,145-crore initial public offer of electric two-wheeler company Ola Electric Mobility got fully subscribed on the second day of bidding on Monday, driven by demand from retail investors and non-institutional investors. The initial share sale received bids for 49,43,63,610 shares against 46,51,59,451 shares on offer, translating into 1.06 times subscription, according to the NSE data.
The Indian Medical Association has announced a 24-hour nationwide withdrawal of non-emergency services from 6 am on August 17 to protest against the alleged rape and murder of a trainee woman doctor at the state-run R G Kar Medical College and Hospital in Kolkata and the subsequent vandalism at the facility.
Simple to follow and effective ways to get cheaper two-wheeler insurance
Navratri and Onam saw flat sales, but industry hopes to turn the corner with a cracker of a Diwali.
As part of the celebrations, Govindas or Dahi Handi participants form multi-tiered human pyramids to break 'Dahi Handis' (claypots filled with curd) suspended in mid-air.
Two motorcycle-borne persons, who allegedly opened fire outside Bollywood superstar Salman Khan's house in Bandra, Mumbai, had rented a house for a month in Navi Panvel in Raigad district, some 40 km from Mumbai, where he has a farmhouse, an official said on Monday.
Two-wheeler maker TVS Motor Company Ltd will enter the three-wheeler segment in an year's time, its chairman Venu Srinivasan said on Friday.
The incident took place amid midnight protests by women against the horrific rape-murder of the doctor at the hospital.
Wrestler and Congress candidate Vinesh Phogat on Sunday said she expects to win each battle with the blessings of people as kicks off her campaign for the upcoming assembly election.
Sales of electric vehicles (EVs) in July touched 178,948 units, marking the highest monthly sales this financial year. This represents a 27.9 per cent increase from June, which saw 139,905 units sold, according to the Vahan data from the Ministry of Road Transport and Highways. The strong performance in July contributed to more than one million being sold in the first seven months of the calendar year.
Nearly a decade ago, the first fully electric vehicle (EV) caught fire on the road in the US. It was a model from Tesla, the world's most admired EV maker. A metal fragment punctured the underbelly of the vehicle, penetrating its battery pack, leading to a fire. Indian lawmakers and automakers have had nine years to study the incident (in fact, three Tesla Model Ss caught fire in two months in 2013) but seem to have learnt little.
Aided by robust demand, automobile retail sales in India rose by 11 per cent last year as compared to 2022, dealers' body FADA said on Monday. The overall domestic automobile retail sales stood at 2,38,67,990 units in the 2023 calendar year as compared to 2,14,92,324 units in 2022. Passenger vehicle sales stood at 38,60,268 units last year, up 11 per cent from 34,89,953 units in 2022.
The new scheme may link the incentives to the battery power - higher the power, higher the incentive and most electric two-wheelers running on Indian roads use low power and fast charging batteries.
Two-wheeler prices are likely to rise by 10-25 per cent on account of higher premiums on insurance and commodity prices, mandatory safety regulations and BS-VI emissions that kick in from April 1, 2020.
When the IO and other police personnel started fumbling with answers, the magistrate passed a copy of the BNS and asked them to go through the section in question.
Pradeep Nakhwa, the husband of Kaveri Nakhwa who was killed in BMW car hit-and-run incident in Mumbai, on Monday demanded stringent punishment for the driver, saying his wife could have been saved if he had stopped the car.
The Audi car, which hit several vehicles in the Ramdaspeth area in the early hours of Monday, had five occupants, including Sanket Bawankule, who was not at the wheel at the time of the crash, which left two persons injured, according to the police.
Passenger vehicle wholesales in India increased by 1.87 per cent year-on-year to 361,717 units last month, industry body SIAM said on Monday. The passenger vehicle dispatches to dealers stood at 3,55,043 units in September 2022. Similarly, two-wheeler sales increased to 17,49,794 units last month from 17,35,199 units in the year-ago period, Society of Indian Automobile Manufacturers (SIAM) said.
In Nashik, around 200km from Mumbai, two groups clashed during a bandh called by the Sakal Hindu Samaj in protest against atrocities on minority community members in the neighbouring country, leading to tension in the Bhadrakali area, where police lobbed tear gas shells to disperse the crowd.
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.
Ola Electric, the SoftBank-backed electric vehicle (EV) maker, is likely to pursue a valuation of approximately $4.5 billion in its upcoming initial public offering (IPO), marking about 18 per cent decrease from its last funding round valuation of around $5.5 billion, according to industry sources. The Bhavish Aggarwal-founded firm aims to file for the IPO by next month, according to people familiar with the matter. "The strategy is to price the IPO attractively for investors, fostering long-term growth and wealth creation," said a source.
When compared to a one-year insurance, here's why it makes sense to buy a three-year policy
Automobile retail sales in India rose to a record high in November, aided by the best ever monthly performance across passenger vehicle and two-wheeler segments, dealers' body FADA said on Wednesday. The overall retail sales stood at 28,54,242 units last month, 18 per cent higher over 24,09,535 units in November 2022. Passenger vehicle (PV) retail sales rose to 3,60,431 units as compared to 3,07,550 units in the year-ago period, registering a growth of 17 per cent.
In March 2021, Ola Electric founder Bhavish Aggarwal was seen surveying an empty 500-acre land surrounded by shoe factories, temples, bakery shops, coconut trees and dusty roads in Pochampalli town of Krishnagiri district, Tamil Nadu. Many excavators and workers were busy at the construction site to build the Ola Futurefactory for electric vehicles.
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 is likely to grow by 7.5 per cent in the first quarter of the current financial year, driven by rising aggregate demand and non-food spending in the rural economy, according to an article in the RBI's May Bulletin released on Tuesday. The Indian economy has demonstrated marked resilience in the face of geopolitical headwinds impacting the supply chain, said an article on the state of the economy published in the May Bulletin.
Amid rising petrol prices, two-wheeler makers such as Mahindra & Mahindra, TVS Motors, Hero MotoCorp and Bajaj Auto are stepping up research to develop engines run on diesel or other fuels.
Irdai has proposed to increase the Motor Third Party premium rates for cars below 1000 cc to Rs 2,120 from the existing Rs 1,850 for the fiscal 2019-20.
The teen, who the police claim was drunk and driving the luxury car when it hit a two-wheeler in the early hours of May 19 killing two techies, including a woman, is lodged at an observation home in Pune.
When you purchase a two-wheeler, the dealer usually takes care of the hassles of registering the vehicle and getting it insured. However, you should know the types of insurance policies available and the features of the policies.
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