The growth in the PV segment was primarily led by car market leader, Maruti Suzuki India, which saw its dispatches to dealers grow 4.4 per cent YoY to 144,277 units after 10 months of drop. It was driven by new launches, such as the S-Presso, a mini sport UV.
"The 'red bag' belonged to one of the hijackers, it contained explosives, and possibly, real passports, too.
Factors like high fuel prices, higher insurance cost and firm interest rates kept buyers away, especially in case of passenger vehicles.
While two-wheeler sales are down 15 per cent year-on-year, passenger vehicles sales are lower by 5-7 per cent.
Even as India's passenger-vehicle sales touched a record high of 3.9 million units in 2022-23, growing 27 per cent over the previous financial year, the country's largest carmaker, Maruti Suzuki India (MSIL), said on Monday uncertainties in the electronic-component supplies might affect production in FY24. MSIL said the shortage of electronic components had some impact on production in FY23. "The company took all possible measures to minimise the impact.
Passenger vehicle retail sales in India witnessed an 11 per cent year-on-year decline in December as semiconductor shortage continued to impact the segment, automobile dealers' body FADA said on Wednesday. The passenger vehicle (PV) retail sales last month fell 10.91 per cent to 2,44,639 units from 2,74,605 units in December 2020. "The month of December is usually seen as a high sales month where OEMs continue to offer best discounts to clear the inventory due to change of the year.
Commercial vehicles major Ashok Leyland has decided to set up a plant in Uttaranchal and will invest around Rs 1,100 crore (Rs 11 billion) in the new facility.
The central government has finalised GPS-based toll collection to ensure seamless movement of vehicles across the country.
'Petrol cars, which constitute the majority, do not contribute to the 2.5 PM emissions as petrol used in the country is of higher quality.'
Domestic car sales were down 33.4 per cent to 1,31,281 units last month as against 1,97,124 units in September 2018, according to data released by the Society of Indian Automobile Manufacturers (SIAM) on Friday.
One of the challenges for those car graves is that Indian owners often find markets for their old cars rather than send them to scrapyards.
From the new facility, buses would be rolled out from the second quarter of 2015
The mission has proposed pilot projects for replacing fossil fuels and fossil fuel-based feedstocks with Green Hydrogen and its derivatives.
Domestic passenger vehicle retail sales declined eight per cent in February as the companies continued to suffer production loss due to chip shortage, automobile dealers' body FADA said on Friday. The passenger vehicle (PV) sales dropped to 2,38,096 units last month, down 7.84 per cent from 2,58,337 units in February 2021. "Even though the passenger vehicle (PV) segment saw some launches and slight respite in supply due to better production, it was not enough to meet customer demand. "Vehicle waiting period thus remains similar to what it was in the past few months," FADA president Vinkesh Gulati stated.
As Thalapathy Vijay embarks on a career in politics, Arjun Menon looks closer at his glorious filmography.
Foxconn's business in India has grown to over $10 billion till 2024.
Issues like high insurance cost and the announced price hike effective January could also weigh on sales in 2019. The only bright spot is the softening seen in fuel prices over the past month.
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.
There are four things that stand out in China's strategy for electric vehicles, says Vandana Gombar.
The new year will witness two unmanned missions under the "Gaganyaan" project, deep ocean exploration project, "Samudrayaan" and many more.
The 6 am to 6 pm shutdown call evoked a mixed response as the state government engaged its entire machinery to ensure that normal life remained unaffected.
Tata Motors has identified over a dozen overseas markets to sell commercial vehicles by either setting up manufacturing units, assembly lines or tying up with dealers in those countries, a top company official said.
The question is: Will the company have a strong balance sheet to support this massive investment plan?
Domestic car sales were down 35.95 per cent at 1,22,956 units as against 1,91,979 units in July 2018, according to data released by the Society of Indian Automobile Manufacturers (SIAM) on Tuesday.
The operating margin of India Inc is likely to drop in the December quarter with a 100-120 bps year-on-year decline, as 27/40 sectors are set to see crimped margins despite higher revenue, according to a report. Surging commodity prices and price hikes may help companies report a healthy 16-17 per cent revenue growth to Rs 9.1 lakh crore during the quarter ending December, the Crisil report said on Tuesday. Software major TCS will open the earnings season Wednesday.
Sri Lanka's state-owned petroleum corporation announced fuel rationing for vehicles with effect from Friday, as an unprecedented economic crisis roils the country.
Awaiting a formal notification on quadricycle, Pune-based Bajaj Auto on Wednesday said it is ready to roll out its RE60 model once it gets a go ahead from the government.
In the past six months, Nissan sold around 200 Evalias only
'Interim Budget has ignited the entrepreneurial spirit.'
The eight active NASA astronauts and one former astronaut-turned-corporate crew member will launch on Boeing CST-100 Starliner and SpaceX Dragoncapsules to the International Space Station beginning in 2019.
Automobile manufacturers, new and old, as well as ancillary suppliers are set to spend a combined Rs 70,630 crore over the next five years on either entering the electric vehicle segment or stepping up their presence in it. Data culled from announcements made by firms shows India, the world's fifth largest automobile market, is poised to receive one of the biggest capex pushes ever to fuel the transition from internal combustion engines to electric motors and batteries as part of a green drive. The EV push, egged on by the government's emphasis on electric mobility to meet its net zero targets, is expected to yield at least 25 electric vehicles - new ones as well as electrified versions of existing vehicles running on internal combustion engines.
The scheme has been extended to all categories of employees.
MMFs invest in fixed-income instruments maturing in less than one year, minimising interest-rate risk.
For an industry which saw sales shrinking in 2013-14, this is hope indeed.
The central government is expected to complete the auction of the 5.9-million tonne (mt) lithium reserves discovered in the Reasi district of the northern Union Territory (UT) of Jammu & Kashmir (J&K) by the end of this calendar year, Union Mines Secretary Vivek Bharadwaj said on the sidelines of the launch of the Federation of Indian Chambers of Commerce and Industry (Ficci) report on 'New-Age Energy Minerals' on Tuesday. "Auction will be over by the end of this year," said Bharadwaj, adding, "We have already recommended a transaction advisor to the J&K government for the auction of lithium reserves." However, the exact timeline for an auction will be decided by J&K authorities, Union mines minister Pralhad Joshi said in Parliament last month.
India's biggest non-bank finance company, Bajaj Finance (BAF), is set to raise capital after a gap of four years. On October 5, the board of directors will meet to approve the fund raise by way of preferential issue and/or qualified institutional placement (QIP) subject to regulatory and shareholder approvals. The move, analysts said, comes ahead of expectations, and could be in the wake of simmering competition in the consumer lending space, especially with the launch of Jio Financial Services (Jio Fin). "While we still do not have finer details on the game-plan of Jio Financial, it has plans to initially foray into consumer and merchant lending.
More than just a legacy brand in commercial vehicles, Ashok Leyland wants to be seen as an old brand embracing new values.
