Industry executives say the government could help in lowering prices of green vehicles by encouraging domestic research and development.
A host of passenger and commercial vehicle manufacturers displayed 'green' vehicles at the Auto Expo. Maruti Suzuki, Hyundai and Tata Motors displayed 100 per cent plug-in electric car concepts, while commercial vehicle manufacturers like Ashok Leyland displayed concept hybrid buses, fuelled both by electricity and diesel.
'Price competition is fierce, with many companies selling at zero margin.' 'This pricing pressure is challenging smaller companies and will likely drive some out of the market over time.'
Dealers say that the full-year outlook remains negative with a projected contraction in retail sales of 15-35 per cent across segments, save tractors, which look set to clock a positive annual growth.
Dealers said the discounts this March are higher than the same month in the previous year.
'In FY23, PV sales are expected to end the year at a record 3.8 million units, up 26 per cent. In FY24, however, the industry is expecting 5-7 per cent volume growth'
Electric vehicle retail sales in the country witnessed over three-fold jump last fiscal with two-wheeler offtake leading the segment, according to data compiled by automobile dealers' body FADA. Total electric vehicle (EV) retails reached 4,29,217 units in 2021-22, a rise of three-fold from 1,34,821 units in the financial year 2020-21, the industry body said. Total EV sales had stood at 1,68,300 units in the 2019-20 fiscal, it noted.
It came on the back of tepid dispatches in the March quarter as consumer sentiment took a knocking, owing to uncertainty ahead of the general election.
The International Monetary Fund (IMF) has slapped 11 new conditions on Pakistan for the release of the next tranche of its bailout programme and warned that tensions with India could heighten risks to the scheme's fiscal, external, and reform goals, according to a media report on Sunday.
Tata Motors' 2022-23 (FY23) January-March quarter (fourth quarter, or Q4) results were better than Street estimates, with strong showing across Jaguar Land Rover (JLR), as well as commercial and passenger vehicle businesses in the domestic market. The company posted its highest consolidated top line and operating profit, with growth of 35 per cent and 46.5 per cent, respectively, over the year-ago quarter. While the top line was aided by a 49 per cent growth in the JLR unit, all key segments reported margin expansion.
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.
In terms of success rate, the PSLV rocket has an enviable record of 57 successful missions out of 58 commercial ones.
Top executives from Siam and major carmakers recently met with Heavy Industries Secretary Kamran Rizvi to discuss the matter. Officials from NITI Aayog were also present.
In a double-dose bid to boost growth and employment prospects, the Union Cabinet on Tuesday approved a Rs 2.07 trillion outlay for a research development and innovation (RDI) Scheme to fund private sector innovations, and an employment-linked incentive (ELI) to create over 35 million new jobs over the next two years.
M&M is in talks with BAE systems to develop mine protected vehicles for India.
While Elon Musk's political influence continues to grow, his business empire is witnessing headwinds.
I am happy I didn't knock anyone down, driving recklessly or trying to show off. However, in one instance of road rage (the consequence of arguing with a driver who disrespected my right to cross the road peacefully) I did find a man in a SUV taking his anger out on me by driving his vehicle over my feet, recalls Shyam G Menon.
Passenger vehicle wholesales crossed the 10-lakh mark for the first time ever in the June quarter riding on the back of robust demand for utility vehicles, industry body SIAM said on Friday. Total dispatches of passenger vehicles in the first quarter stood at 10,26,006 units, up 3 per cent as compared with 996,565 units in April-June FY24. Utility vehicle sales rose 18 per cent to 645,794 units in the first quarter as against 547,194 units in the year-ago period.
Passenger vehicle retail sales in India witnessed a 10 per cent on-year jump in July driven by new model launches and enhanced discounts, industry body FADA said on Monday. Total passenger vehicle retail sales rose to 3,20,129 units in July, as compared to 2,90,564 units in July 2023. "Dealers reported benefits from good product availability, attractive schemes, and a wider range of products," the Federation of Automobile Dealers Associations (FADA) vice president C S Vigneshwar said in a statement.
When Gensol Engineering made its public market debut through a small and medium enterprises (SME) initial public offering (IPO) in September 2019, its promoters held a commanding 96 per cent stake. Now, that figure has shrunk to a "negligible" fraction.
Retail sales of automobiles in the domestic market saw a 7.73 per cent year-on-year decline in October this year at 21,17,596 units, mainly due to dip in two-wheeler uptake with the inauspicious period of Shraddh affecting new purchases, the Federation of Automobile Dealers Associations (FADA) said on Monday. Retail sales of automobiles in the domestic market stood at 22,95,099 units in October 2022, FADA said in a statement. Two-wheeler retail sales were at 15,07,756 units last month, as against 17,25,043 units in the year-ago period, down 12.60 per cent, as per the latest data by FADA.
The Lucknow-born Shukla, former NASA astronaut Mission Commander Peggy Whitson, Slawosz Uznanski-Wisniewski of Poland, and Tibor Kapu of Hungary are part of the Axiom-4 mission that marks the return to space for the three nations.
It marked a "milestone" in India's journey towards technological self-reliance in military operations, the ministry said on Operation Sindoor.
Indian Space Research Organisation's (ISRO's) heaviest rocket LVM3 will launch British start-up OneWeb's 36 broadband satellites from the spaceport in Andhra Pradesh's Sriharikota on October 23, marking the launcher's entry into the global commercial launch service market.
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.
The Indian Space Research Organisation (ISRO) is all set to make its maiden commercial launch of 36 broadband communication satellites on board the space agency's heaviest rocket LVM3-M2, the countdown for which began early on Saturday at Sriharikota spaceport in Andhra Pradesh.
Tata Motors on Wednesday said it has extended warranty and free service period by one month for those commercial vehicle customers whose tenures are due between April 1 and June 30 amid the second wave of COVID-19 pandemic. Bajaj Auto, too, extended the free service period of all its brands in the country till July 31. In view of the restrictions announced by several state governments across the country to curtail the spread of the COVID-19 virus, Tata Motors has extended warranty and free service period for all its commercial vehicles that were scheduled to expire in the period of April 1 to June 30, 2021.
Shares of auto component major, Samvardhana Motherson International, has gained 11.5 per cent on the bourses after the company approved the qualified institutions placement (QIP) issue and announced the calculation methodology for its compulsorily convertible debentures, or CCDs, into equity shares. Analysts cite strong investor response to the issue that has kept the sentiment positive for the stock. Brokerages, however, have a mixed view on the outlook for the auto parts supplier.
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.
India's largest truck maker, Tata Engineering & Locomotive Co Ltd, said on Wednesday its total vehicle sales in April jumped 55 per cent from a year ago to 14,979 units, despite a truckers strike.
Tata Motors said it may invest about Rs 600 crore (Rs 6 billion) to develop Futuristic Infantry Combat Vehicles (FICV) and set up a manufacturing plant for rolling out FICVs for the Indian Army.
New electric and hybrid vehicles on display as manufacturers plug into environment-friendly segment.
Automobile retail sales in India rose 11 per cent in September as better supplies from manufacturers enabled dealers to ramp up customer deliveries amid the ongoing festive period, Federation Of Automobile Dealers Associations said on Tuesday. Last month, total retail sales stood at 14,64,001 units as compared to 13,19,647 units in September 2021. FADA noted that October is expected to witness even better overall sales due to the festive season further gathering steam.
ISRO is part of an exclusive league which has forayed into the Moon and Sun.
The visuals on social media also showed huge traffic on the National Highway-24 and Sarai Kale Khan where vehicles were crawling. Water from the overflowing Yamuna river reached ITO, a key route to commute from east Delhi to central Delhi and Connaught Place.
As their flagship heavy vehicle manufacturer Ashok Leyland celebrated its diamond jubilee, the Hindujas Monday announced plans to acquire related businesses in Europe and the Middle East.
We need to equip the Indian Armed Forces, not 'commercial' as Trump wants, but 'operationally' looking at growing Chinese military capabilities, asserts Lieutenant General Prakash Katoch (retd).
The Vikram-I rocket will fly with its maximum carrying capacity and put the satellites in a Low Earth Orbit.
The BS-IV emission norms will come into force from April 1, 2017.
