Auto industry volumes have grown by 2.5 per cent overall, led by domestic sales of three-wheelers, two-wheelers and passenger vehicles (PVs) in the first quarter of this financial year. Analysts predict an 18 per cent growth in revenues for automotive original equipment manufacturers (OEMs) and profit growth of 69 per cent year-on-year (YoY). However, on a sequential basis, a decline in revenues as well as earnings before interest, taxes, depreciation, and amortisation (Ebitda) margins is expected.
Hero Honda, the world's largest two-wheeler company, is scouting for a partner for its proposed foray into the four-wheeler segment.
Amid better semiconductor chip supplies, the Indian automotive industry posted an 8 percent growth in production of vehicles across categories for the month of May, with three-wheelers (20 per cent) and passenger vehicles (16 per cent) leading the pack. Exports, however, dipped 21 per cent at an industry level. The industry also recorded its highest-ever May wholesales of domestic passenger vehicles (334,802 units), riding on high demand for sport utility vehicles (SUVs) and better supplies of semiconductor chips.
TVS Motor Company plans to launch about eight two-wheeler models, including six motorcycles in the next 15 months in an aggressive bid to increase its share in the world's second largest two-wheeler market.
Passenger vehicle retail sales in India declined by 1 per cent last month as buyers preponed purchases to March in order to avoid enhanced prices on account of stricter emission norms kicking in from April 1, automobile dealers' body FADA said on Thursday. The passenger vehicle retail sales declined to 282,674 units last month as compared with 286,539 units in April 2022. "The passenger vehicle segment, which achieved record sales in FY23, slowed down in April... This was primarily due to last year's high base and the OBD 2A norms, which led to vehicle price increases and advanced purchases in March," Federation of Automobile Dealers Associations (FADA) president Manish Raj Singhania said in a statement.
The EV industry is at an inflection point and batteries will play a critical role ahead -- batteries and related components typically constitute 35-45 per cent of an EV's costs.
After identifying the duo, the police used human and technical intelligence to track them.
If you are a motorsport enthusiast, be sure to be there at the Somaiya grounds in Sion East, Mumbai, on Sunday, February 20. Some of the best two and four-wheeler drivers will be in action in an Autocross event, billed as RotoCross, organized by the Rotary Club of Deonar, Mumbai, along with Sportscraft, under the aegis of FMSCI.
Global ratings agency, Fitch Ratings, said the 180 days past due (dpd) two-wheeler loans (loans where EMIs are overdue for over 90 days) have reached as high as 6 per cent of original principal outstanding in some pools.
The island city, eastern suburbs and western suburbs recorded average 57.63 mm, 76.94 mm and 90.50 mm rainfall, respectively, between 8 am and 6 pm.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
Food delivery major Zomato has received a Rs 401.7 crore show cause notice from the Directorate General of GST Intelligence (DGGI) over 'unpaid taxes' on delivery charges collected from customers, the company said in a regulatory filing late on Wednesday. The company claimed that it is not liable to pay the penalty for the period from October 29, 2019, to March 31, 2022, as the amount collected from customers is "on behalf of the delivery partners during the referred period."
The K-shaped economic recovery in India from the pandemic slowdown shows in corporate results as well. The automobile sector, which represents big-ticket consumption, continues to do well and has increased its share in corporate revenues and profits while fast-moving consumer goods (FMCG) companies that sell low-ticket consumer goods are struggling with poor sales and earnings growth. The share of the automobile sector, including makers of auto ancillaries, in corporate net sales rose to a 10-quarter high of 10.05 per cent during July-September 2023 (Q2FY24) from 8.94 per cent a year earlier and 9.75 per cent in Q1FY24.
Honda Motorcycle and Scooter India (HMSI), India's second-largest two-wheeler maker, on Wednesday revealed its electric vehicle (EV) roadmap, which includes setting up a dedicated EV factory, launching the first two EVs in 2023-24, and establishing 6,000 battery exchange points in the country. HMSI plans to establish a specialised unit for the manufacturing of electric vehicles (EVs), named 'Factory E', at its Narsapura plant located in Karnataka. Factory E will be created by converting an existing production line that currently manufactures internal combustion engine (ICE) vehicles, said Atsushi Ogata, HMSI managing director and chief executive officer.
Automotive (auto) major Mahindra & Mahindra (M&M), which is readying to launch nine sport utility vehicles (internal combustion engine/ICE), seven Born Electric Vehicles (BEVs), and seven light commercial vehicles by 2030, has outlined an investment of Rs 27,000 crore in its auto business between 2024-25 (FY25) and 2026-27 (FY27). Over the next three years, the company will deploy Rs 37,000 crore, including its auto business, farm business (Rs 5,000 crore), and service business (Rs 5,000 crore).
Led by Ola Electric, which registered an industry record of 53,186 vehicles in March, electric two-wheeler (e2W) penetration hit a record at 8.91 per cent - the highest ever for a month (based on Vahan data).
Passenger vehicle wholesales rose 23 per cent year-on-year in the December 2022 quarter, aided by robust demand in the festive period, the automobile industry body Society of Indian Automobile Manufacturers said on Friday.
Violent protests over the death of two youths in Manipur continued till the early hours of Thursday with a mob vandalising the deputy commissioner's office in Imphal West and torching two four-wheelers, officials said.
The automobile sector is considered a good indicator of economic health. It has a very long value chain, from primary materials, like metals, glass and plastic, to value-added high-end electronic components, specialised alloys, and software.
The Apollo Hospitals launched the country's first two-wheeler ambulances called Apollo First in Chennai, Delhi, Kolkata and Hyderabad on Saturday.
Apollo Hospitals has launched India's first two-wheeler ambulances in Chennai, Delhi, Kolkata and Hyderabad on Saturday.
Japanese auto giant Honda on Thursday said it will set up a third two-wheeler manufacturing facility in India at Narsapuram, in Karnataka, with an installed annual capacity of 12 lakh units by 2013.
The extraordinary spurt in two-wheeler sales over the last year and a half seems to have set tyre companies rolling. JK Tyre, like Apollo and Ceat, is entering the two and three-wheeler tyre market.
Apprentices get at an average of Rs 10,000 to Rs 12,000 per month which can double after one year of on-the-job training.
A huge contingent of police personnel, including a Rapid Action Force (RAF) team, was deployed in the area to avoid any untoward incident.
Passenger vehicle wholesales rose 17 per cent in January to 298,093 units driven by robust offtake of utility vehicles, including the fast-growing sports utility vehicles, industry body SIAM said on Monday. The overall passenger vehicle dispatch from companies to dealers was 254,287 units in January 2022. Utility vehicle sales rose to 149,328 units last month from 116,962 units in January last year.
Passenger vehicle wholesales in India rose 29 per cent to 291,113 units in October aided by robust demand in the festive season, the Society of Indian Automobile Manufacturers (SIAM) said on Friday. Total passenger vehicle dispatches from companies to dealers were 226,353 units in October 2021. Total two-wheeler dispatches last month increased 2 per cent to 15,77,694 units as compared to October 2021.
A 25-year-old rape survivor was seriously injured when she was shot at and attacked with a sharp-edged weapon by a man accused of raping her and his two accomplices in Kotputli-Behror district of Rajasthan.
'He would love that the world is talking about how talented he was. And he really was very talented.'
Layoffs, corporate restructuring, governance and most importantly profitability: The 14 Indian startups that plan IPOs this year are pulling out all the stops to ensure successful market debuts.
TVS Motor Company has been one of the best-performing two-wheeler stocks in the current financial year (FY24), enriching investors with gains of 24 per cent. Among listed two-wheeler stocks, only Hero MotoCorp has done better in this period. New launches, market share gains, steady margins and expectations that its performance will continue in FY24 are expected to support TVS Motor's stock.
Here's a chance for motorsports enthusiasts to parade their driving skills. On Sunday, January 29, the Rotary Club of Deonar, in association with Sportscraft, will stage a Rotary Rotocross for two and four-wheelers at the Somaiya grounds in Sion East, Near Chunabhatti Rly Station, Sion, Mumbai.
Plug-in hybrids have two engines and the electric part has a much larger battery than in the regular hybrids. Car companies, led by the Japanese, are pushing the Indian government to look at hybrids in the interim if it wants to reduce carbon emission.
While the Nano is priced at Rs 1.12 lakh, Bajaj Auto's RE petrol variant costs about Rs 90,000, while its diesel variant is pegged at Rs 1.2 lakh. Analysts also say Bajaj can drop prices without any problem. "Bajaj Auto has been in the three-wheeler segment for 60 years. Which means their plants are fully depreciated and they can afford to lower the prices, which other manufacturers can't do," says a top executive from a competing three-wheeler brand.
An anonymous caller informed the hospital staff on Sunday morning that a time bomb was planted underneath a scooter and would go off within 15 minutes, Kakinada Deputy Superintendent of Police Surya Rao told PTI.
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.
Ola Electric has finalised its second phase of expansion, under which it will increase its plant capacity fourfold - from 1 million two-wheelers per annum to 4 million. This will also include motorcycles, said a top executive of the company. It will also build a plant with a 5 Gwh of advanced chemistry cell battery storage capacity in the same super factory located on the outskirts of Bengaluru.
The 2013-14 Budget continues to focus on growth in predominantly primary sectors like agriculture, infrastructure and education. This growth will in turn support the growth in other sectors including the automobile industry.
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