Analysts say Bajaj's move to correct prices can potentially disrupt the market.
New Creta, petrol Vitarra Brezza.. A quick look at what went down at Auto Expo Day 2.
While hybrids, CNG and biofuels found favour in 2018 among many carmakers including Maruti Suzuki, Mercedes-Benz, Toyota and Honda, others such as M&M and Tata Motors have shown full faith in electric vehicles.
For players like Toyota Kirloskar and Ford, the contribution of UVs to overall sales is now well over 60%.
Even as India overtakes Japan in automotive sales in 2022, moving to third place for the first time, oddly enough the country's biggest motor show is going to see some big hitters give it a clear miss. Some prominent automotive brands have cited high event costs, negligible returns on investment, poor event management, and unfavourable location as reasons for their reluctance to participate. Major pure-play electric two-wheelers, too, are riding past this year's edition of the Auto Expo.
Auto makers are keen to boost sales in ensuing months.
The company decides to launch premium, entry-level bikes after competition hits high gear.
General Motors India Vice President P Balendran termed the decision as a positive move for the overall economy.
The company had sold 320 units in 2011 here, the Indian subsidiary of the auto maker said in a statement.
It manufactures cars ranging from entry-level hatchbacks to sedans to sport utility vehicles to vans to pick-up trucks. It also has a range of electric and hybrid vehicles
Combined sales at top four manufacturers - Tata Motors, Ashok Leyland, Volvo Eicher Commercial Vehicles, and Mahindra and Mahindra - dropped 20 per cent to 20,324 units in November
The onus is on the banks to pass the benefit to customers.
The market capitalisation of BSE-listed companies jumped to a record high of Rs 2,40,04,664.28 crore on Tuesday, driven by a rally in stocks that also saw the benchmark Sensex touching its lifetime peak of 53,887.98 points. Rallying for the second consecutive day on Tuesday, the 30-share BSE index closed at a fresh closing peak of 53,823.36 points, a jump of 872.73 points or 1.65 per cent. During the day, it zoomed 937.35 points to 53,887.98 points.
Toyota and Honda of Japan, and the US auto major Ford are ramping up their sales and distribution networks as they gear up to launch small cars.
Buoyed by impressive sales last year in India, German luxury car maker Audi is gearing up to showcase a host of models, including the debut of its A3 sedan, at the upcoming Auto Expo.
'Our strategy is intact and our important pillars for India -- the SUV roll-out and the focus on the cost of ownership of a car -- remain in focus'
South Korean auto giant Hyundai Motor Company is considering tax implications of listing its Indian unit before taking a final call, according to sources privy to the development. Hyundai Motor is mulling an initial public offering (IPO) for its Indian arm to raise around $3 billion (at a valuation of up to $30 billion), and talks are in the early stages between the company and bankers, banking sources revealed. Hyundai Motor India Ltd (HMIL), however, declined to comment on the development.
India can become the number one automotive manufacturing hub in the world within five years, but auto companies need to enhance safety features to reduce deaths due to road accidents, Union Minister Nitin Gadkari said on Thursday. In his inaugural address at the Auto Expo 2023 here, the minister for road transport and highways asserted that the government's target is to reduce these accidents by 50 per cent before the end of 2024 while asking the auto industry to take suo moto action for road safety as the government doesn't want to make anything mandatory. Gadkari's sentiments were also echoed by Minister of Heavy Industries Mahendra Nath Pandey, who lamented that while India has only 1 per cent of the total overall vehicles, the country accounts for 11 per cent of the total global deaths due to road accidents.
Royal Enfield's sales are equivalent to the global sales of Harley-Davidson, KTM, BMW, Triumph, and Ducati combined, but Bajaj's MD has a counterview.
After bumbling for years since 2014, the Modi government seems to believe that massive government expenditure will lead us to prosperity supported by 'seat-of-the-pants' decision-making, observes Debashis Basu.
Mopeds are sought by people with smaller businesses, with their weight-carrying and haulage ability beside being lighter and easy to manoeuvre in traffic.
Many promoters still consider the cash in the company as their money and are averse to sharing this pie with minority investors, points out Akash Prakash.
Many of these companies have a waiting period from 6-18 months now, indicating a rise in demand.
'The Indian govt's initiatives on EVs are very strong and customers want to buy EVs. This will make the country's conversion to EVs faster than other markets, and I hope even faster than the US'
Samvat 2072: Auto sector could see faster recovery
Financials emerged as the top gainers while auto shares rallied on robust September sales
Although it has not announced the price bookings, sources say it could be in thousands.
Audi India launched the second generation 2016 Audi R8 at the show.
M&M conducted raids across six auto spare part makers and sales outlets.
The company, which opened its second dealership in India here, plans to add a third one in Bengaluru for which it is in discussions with a local partner.
The government has decided to extend the Rs 25,938-crore production-linked incentive scheme for the automotive sector by one year, Union Heavy Industries Minister Mahendra Nath Pandey said on Tuesday. Post extension, the five-year scheme, originally in place from 2022-23 to 2026-27, will be active until 2027-28. At present, incentives are applicable under the scheme for determined sales of Advanced Automotive Technology (AAT) products (vehicles and components) manufactured in India from 1 April 2022 onwards for a period of five consecutive years.
Close to half a dozen more three-row premium mid-size models are expected to hit the road over the next two years.
There has been a sharp recovery in the headline corporate earnings in the April-June 2023 quarter (Q1FY24), after a dismal showing by early bird companies. The combined net profit of the 983 listed companies that have declared their quarterly results, so far, was up 64.7 per cent year-on-year to record a high of Rs 2.68 trillion in the first quarter, but growth in earnings remained lopsided because most of the incremental gains came from a handful of companies. Moreover, the quarterly numbers showed a continued slowdown in revenue growth.
With a slew of new players entering the Indian small car market, segment leaders like Maruti Suzuki India and Hyundai Motor India will face challenge to their domination.
New cars that set the bar higher for quality, design and pricing, and helped automakers rake in a good moolah.
Declining motorcycle sales remained a cause of worry.
The rate cut would mean actual gains for vehicle buyers only when banks pass on benefits.
Tech Mahindra was the top loser in the Sensex pack, crashing over 9 per cent, followed by Kotak Bank, Axis Bank, TCS, Infosys and HUL. On the other hand, Hero MotoCorp, Bajaj Auto, Bajaj Finance and Titan were the gainers.
It was a ride on the fast lane for motorcycles in India with sales in the domestic market going up as much as 19 per cent in the just-ended financial year to 49,64,442 units.
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