MNS workers will gather at every toll booth and ensure that four, three and two-wheelers are not charged tolls, Thackeray said.
New Delhi's timing couldn't have been worse, both for India's fledgling electric vehicle (EV) sector and prospective electric bike buyers. It was hard to miss the perfect storm brewing for India's EV industry since early 2022. On one hand, you had several accidents involving battery fires that unnerved consumers; on the other, uncertainty had crept in over subsidies.
Retail sales of passenger vehicles grew last month but the sales of two-wheeler and commercial vehicles remained low compared to the pre-COVID month of May 2019, according to automobile dealers' body FADA. On Monday, FADA said that overall auto retails stood at 16,46,773 units in May, down from 18,22,900 units in May 2019. "May 2022 retails when compared to May 2019 reveal that sales are still not on a growth trajectory as overall retails were down by 10 per cent.
Bajaj Auto Ltd has clocked a 3.1 per cent growth in two wheeler sales for the fiscal ended March 31 at 12,88,259 units compared to 12,49,104 units in 2002-03.
The S&P BSE Sensex and the Nifty50 have hit record highs amid the poll outcome-triggered bull frenzy at the bourses. Most analysts feel that the indices are on course to rise further over the next few months - till the general elections - albeit amid intermittent corrections - largely triggered by global developments. Bharatiya Janata Party's (BJP's) win in the three state elections of Madhya Pradesh (MP), Rajasthan and Chhattisgarh, analysts at Jefferies believe, reinforces the consensus expectations of a Modi win 2024 national elections with a greater likelihood of over 300 seats for the BJP.
Sensitising errant four-wheeler drivers and co-passengers will be the focus of Mumbai police as the rule to strap on seatbelts in cars in the city came into force from Tuesday, a traffic police official said.
Delhi's 24-hour average air quality index (AQI) stood at 248 on Saturday.
Automotive (auto) and auto ancillary stocks have been in the fast lane thus far in 2023-24 (FY24), with the National Stock Exchange Nifty Auto Index surging nearly 27 per cent, outperforming the Nifty50, which has gained roughly 11 per cent during this period. The top-gear performance of auto stocks at the bourses, according to A K Prabhakar, head of research at IDBI Capital, has been triggered by the premiumisation of products across vehicle manufacturers, which has seen vehicle sales remaining relatively stable. "It is not about higher sales figures now, but about premiumisation.
With a new chief executive officer (CEO) at the helm, the country's largest two-wheeler maker Hero MotoCorp is now looking to cut flab and move towards a leaner organisation. It has launched a voluntary retirement scheme (VRS) for its staff as it aims to make the organisation 'agile and future-ready'. Recently, the company's erstwhile chief financial officer (CFO) Niranjan Gupta was elevated as CEO.
India are hosting a motorsport event of this magnitude for the first time since the 2013 Formula 1 Indian Grand Prix, which was dropped from the calendar due to financial, taxation and bureaucratic issues.
Despite multiple headwinds at the start of 2023, the Indian markets delivered a strong performance, posting 19-20 per cent growth for the year. Even as new records were set, investor sentiment remains strong going into 2024, given the lower inflation, expectations of steady to lower interest rates, higher economic growth, and strong inflows. However, the overriding concern for most brokerages is valuations.
Auto Expo 2023 may not trigger a fresh rally in automobile stocks, say analysts, as this year's edition lacks participation from major listed players. It is also owing to the focus on electric vehicles (EVs), a segment where four-wheelers have minuscule market share. "In the passenger vehicles (PV) segment, Maruti Suzuki India and Tata Motors are the only listed players.
The ED officers are conducting raids at 15 places in the state during the day and Sajahan's house is one of them, an officer said.
The bus was on its way from Gujarat to Mathura in Uttar Pradesh when the accident occurred around 4.30 am, they said.
Delhi police sources on Sunday said a team of the crime branch in a joint operation with the Rajasthan police nabbed the duo from Chandigarh's Sector 22.
Domestic passenger vehicle (PV) sales saw a significant growth in October due to increased availability of semiconductor chips and rising consumer confidence. The sales figures during the month - which coincided with the first post-Covid festival season - released by the top ten carmakers saw a jump of 30.7 per cent to 322,885 units in October. Auto companies count wholesales - units dispatched to dealers - as sales.
Srinagar Senior Superintendent of Police Rakesh Balwal, who has expertise in handling terror-related cases, has been "prematurely" repatriated to Manipur cadre where a fresh bout of violence has worsened the already tense situation.
IGP Gill revealed that the Waris Punjab De chief's last location was in Haryana.
The Royal Challengers Bangalore struck a chord with their unique and purpose-driven cheer squad -- Ampere Take Charge Squad.
The stock of two wheeler maker Eicher Motors was the highest gainer among BSE 100 stocks, rising 6.6 per cent in trade on Friday. The gains came on the back of better than expected performance in the March quarter of the 2022-23 financial year (Q4FY23) and earnings upgrades by brokerages. Standalone revenues (Royal Enfield) were up 19.9 per cent year-on-year (YoY), led by an 18 per cent growth in volumes and a marginal uptick in realisations.
'Investors should look to incrementally allocate towards equity from a medium-to-long term horizon.'
Passenger vehicle wholesales in India declined nearly 4 per cent to 279,501 units last month, auto industry body SIAM said on Wednesday. Passenger vehicle (PV) dispatches from factories to dealerships in March 2021 stood at 290,939 units. As per the latest data by the Society of Indian Automobile Manufacturers (SIAM), two-wheeler sales also fell 21 per cent to 11,84,210 units as compared with 14,96,806 vehicles in March 2021.
Automobile dispatches from factories to dealerships across the country declined 23 per cent in February, as various supply-side challenges, including semiconductor shortage, and rise in vehicle prices due to the implementation of new regulations continued to impact demand scenario, industry body SIAM said on Friday. Wholesales of domestic passenger vehicles, two-wheelers and three-wheelers declined 23 per cent to 13,28,027 units last month, compared with 17,35,909 units in February 2021. Overall, passenger vehicle dispatches in February 2022 declined six per cent to 262,984 units, compared with 281,380 units in the same month of last year.
'Through volume numbers and unit sales one can see, we are not making a loss'
"He is being taken to Ghaziabad from Thane by road," the police official said.
Amphibious drones for maritime inspection... devices that extract pure oxygen from water for patients in need... self-balancing electric bikes...
Havelock should be your destination for 2024. It is love at every sight!
'Just because of my background and poor academic qualifications, most people disbelieve what I have done.'
To ramp up domestic battery manufacturing capacity and reduce the dependence on imports, the government has initiated talks with a few lithium-rich countries to supply the mineral to Indian companies, industry sources informed Business Standard. The Ministry of External Affairs (MEA) held a meeting with the ambassadors of countries, including Argentina, Chile, and Bolivia, among others, to put forth its request.
According to Society of Indian Automobile Manufacturers, domestic passenger car sales rose 8.99 per cent in January, while the two wheelers continued the downhill ride with 10.96 per cent decline in comparison to the corresponding month last year. Domestic passenger car sales in the country stood at 1,13,899 units as against 1,04,501 units in the same month last year, it said.
'There is a need for a national task force with a singular objective to increase automotive exports.'
From the customer point of view too, LFP batteries are safer and offer a longer life.
Petrol doped with 20 per cent ethanol was rolled out on Monday at select petrol pumps in 11 states and union territories as part of a programme to increase use of biofuels to cut emissions as well as dependence on foreign exchange-draining imports. At present, 10 per cent ethanol is blended in petrol (10 per cent ethanol, 90 per cent petrol) and the government is looking to double this quantity by 2025. Prime Minister Narendra Modi launched the higher 20 per cent ethanol blended petrol two months ahead of the planned rollout in April, at the India Energy Week (IEW) 2023 in Bengaluru.
A strong business update for the April-June quarter of the 2023-24 financial year Q1FY24 has led to a big jump of over 7 per cent in the share price of Bajaj Finance on Tuesday (July 4). The non-banking financial company's (NBFC's) new loan book grew 34 per cent with 9.9 million new loans booked in Q1FY24 from 7.2 million loans booked in Q1FY23. The company's total customer franchise rose to 72.98 million (as on June 30, 2023), compared to 60.30 million year-on-year (YoY) with the highest-ever quarterly increase of 3.84 million in Q1FY24. Assets under management (AUM) grew by 32 per cent to about Rs. 270,050 crore in Q1FY24 from Rs. 204,018 crore in Q1FY23.
Passenger vehicle wholesales in India rose to a record high in October as companies pushed dispatches to dealers to cater to the enhanced demand in the festive season. The overall passenger vehicle wholesales in October rose to 391,472 units, up 16 per cent from 336,679 units in the same month last year. Last month witnessed the highest-ever dispatches of passenger vehicles in the domestic market by Maruti Suzuki India and Mahindra & Mahindra.
A new regulation concerning the disclosure of family arrangements by listed companies is exacerbating rifts between feuding shareholders. The latest example is Bengaluru-based TD Power Systems (TDPS), currently enmeshed in a legal dispute before the Karnataka high court over ownership of its 16 per cent equity. Vijay Kirloskar, who is asserting a claim over the 16 per cent stake held by Mohib Khericha (chairperson of TDPS) and Nikhil Kumar (managing director of TDPS and nephew of Kirloskar), has sent a letter to the market regulator, Securities and Exchange Board of India (Sebi), and stock exchanges. He accuses TDPS of insufficient disclosure concerning shareholder agreements.
Passenger vehicle retail sales in the country rose 40 per cent in June indicating an improvement in semiconductor supplies even as demand, especially for SUVs, remained robust, auto dealer' body FADA said on Tuesday. According to the Federation of Automobile Dealers Associations (FADA), passenger vehicle (PV) registrations rose to 2,60,683 units last month, as compared to 1,85,998 units in June 2021, registering an increase of 40 per cent. "The PV segment continued to see robust growth. An increase in dispatches clearly shows that semiconductor availability is now getting easier," FADA president Vinkesh Gulati said in a statement.
Germany-based Mutares SE & Co will acquire 80 per cent controlling stake in Mahindra & Mahindra's French unit Peugeot Motocycles. In a statement, the Mumbai-based auto major on Thursday said Mutares has submitted an irrevocable binding offer to acquire 50 per cent of equity and a controlling stake of 80 per cent in France-based Peugeot Motocycles (PMTC). As part of the deal, Purple, a fully-owned entity of Mutares Holding, would invest 7 million euros in PMTC, which would entitle it to a 50 per cent shareholding and 80.01 per cent voting rights in the French firm.
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