German carmaker Volkswagen said it has no plans to discontinue the sale of its current generation super luxury sedan Passat in the Indian market.
White is easy to maintain, looks brighter than other colours over a longer period, is the least commonly rejected colour among family members, has high resale value, provides better safety at night, absorbs less heat in the summer season, makes small cars look bigger, and is not considered inauspicious.
The industry players couldn't hide their disappointment.
The Adani Group led in adding net fixed assets, which are up more than 90 per cent since September 2019 or before COVID-19.
This is the seventh straight month of growth
The Jats, who went on a rampage to demand quota, attacked the showrooms of only non-Jats.
The biggest spender was Tata Motors, with Rs 4,224.6 crore assigned under the R&D head.
Exports in August were up 10.3 per cent to 12,472 units from 11,305 units in the same month of previous year.
Prices of automobiles, including cars, sports utility vehicles and two-wheelers, are set to come down with Finance Minister P Chidambaram announcing a reduction in excise duty in the Interim Budget.
Last month, the company sold 5,362 units of its highly popular SUV Duster, 545 units of mid-size sedan Scala, 358 units of hatchback Pulse, 39 units of premium luxury sedan Fluence and 10 units of premium SUV Koleos.
The police said the suspects were three boys and a girl, all 17, and a 15-year-old boy, all from Birmingham.
Automobile exports from India recovered in the first quarter with all vehicle segments, including passenger vehicles and two-wheelers, witnessing growth following an improvement in the pandemic situation across various international markets. As per the latest SIAM data, total vehicle exports during the April-June quarter this fiscal stood at 14,19,430 units as compared with 436,500 units in the same period of 2020-21 which saw massive disruptions due to the COVID lockdowns across the country, hampering sales as well overseas shipments. SIAM director general Rajesh Menon told PTI that while two-wheeler shipments were better than previous three years, passenger vehicles, three-wheelers and commercial vehicles export numbers were yet to catch up with numbers in the first quarter of 2018-19 fiscal.
During April, Maruti Suzuki India's domestic car sales were up 2.72 per cent at 86,481 units, as against 84,188 units in the same month last year.
With the government not continuing with lower excise duty beyond December 31, major car makers, including Maruti Suzuki, Hyundai, GM India and Honda have raised vehicle prices by up to Rs 127,000.
'While most companies were bullish before the second wave of double-digit sales growth in FY22, that may not be the case now.'
GM has also exited from four other international markets, including Russia and Europe.
India's production-linked incentive (PLI) scheme, which aims to make domestic manufacturing globally competitive, has attracted investment worth over Rs 45,000 crore and has also created three lakh jobs, NITI Aayog CEO Parameswaran Iyer said on Monday. The government has rolled out the scheme with an outlay of about Rs 2 lakh crore for as many as 14 sectors, including automobiles and auto components, white goods, pharma, textiles, food products, high efficiency solar PV modules, advanced chemistry cell and speciality steel. "The PLI programme has already started showing results.
Car makers are happy with the positive response.
Sales of commercial vehicles were up 11.45 per cent to 56,840 units in December 2015.
Delhi, labelled the world's most polluted city in a 2014 World Health Organization survey, alone makes up about 7 per cent of total Indian auto sales.
In May, Satpal Singh, who runs a dairy business with three buffaloes in Jewar, near Noida, was worried about the steep spike in input costs. Singh said dry fodder rates, which cost Rs 1,500-2000 per tractor trolley last year, were quoting at Rs 4,500-5,000. The price of other cattle feed ingredients (that include mustard meal and similar mixes) had also gone up from Rs 2,000 per quintal to Rs 3,100-3,200 per quintal.
Most companies operate through a rural development sales consultant.
Benchmark Sensex trimmed early gains to close marginally higher while Nifty settled flat in choppy trade on Tuesday as gains in auto shares were offset by selling pressure in banking and energy shares. The 30-share BSE barometer closed marginally up by 37.08 points or 0.06 per cent to 60,978.75 with 15 of its stocks ending in green and the rest in red. The index opened higher and gained over 300 points to a high of 61,266.06 in early trade.
'It says, we are not just an overseas player -- we are Kia India and here for good'
Honda Motorcycle and Scooter India (HMSI), the country's second-largest two-wheeler manufacturer, is planning to launch its first electric vehicle (EV) here by March next year, said CEO & MD Atsushi Ogata on Monday. The company would also enter the low-end motorcycle market in March by launching a 100cc engine bike at a price that will "positively shock" customers, he said while speaking with reporters, after launching the Activa with Honda Smart Key. HMSI's first EV, an electric scooter, will have a fixed battery and the second model will have two swappable batteries, Ogata explained.
Bajaj Auto, India's second biggest motorcycle maker, reported on Wednesday higher-than-expected earnings in its fourth quarter, boosted by other income.
According to the data released by Society of Indian Automobile Manufacturers (SIAM), domestic car sales in October this year stood at 1,59,036 units as compared to 1,63,199 units in the same month of 2013.
'If it is your second car (electric vehicle), you typically keep it for travel within the city.' 'And the first car (internal combustion engine-run vehicles) can then be used to travel to some other cities.'
With car sales in India falling for a record ninth month in a row in July posting 7.4 per cent decline and that of heavy and medium commercial vehicles dipping for 17th month in succession, industry body SIAM said on Monday auto sector has started retrenching temporary workers.
During September, Maruti said it dispatched 1,375 units of the soon-to-be-launched sedan Ciaz.
Passenger vehicle dispatches to dealers in India rose over two-fold last month on a low base of Covid-19-hit May last year. As per the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle wholesales rose to 2,51,052 units last month as compared to 88,045 units in May 2021. The two-wheeler sales rose to 12,53,187 units in May as compared to 354,824 units in the year-ago period.
Other major laggards were IndusInd Bank, SBI, Bharti Airtel, ONGC, Tata Steel and Reliance Industries -- falling as much as 6.30 per cent.
Brokerages expect India Inc to report an upturn in earnings for the March quarter of 2022-23, after a relatively muted showing in the previous two quarters. This growth is expected to be led by banking, financial services and insurance (BFSI) companies, FMCG firms, and automobile makers. The combined net profit of the Nifty50 companies (excluding Adani Enterprises) is expected to have grown 15.6 per cent to Rs 1.77 trillion in Q4FY23, from Rs 1.53 trillion a year ago.
Greenwashing is making misleading or false environment-friendly claims about a product. Consumers in India currently do not have any way of telling whether a claim is authentic or greenwashing. And one never hears of action against any company for making false claims of being environment-friendly.
With interest rates on car loans adversely impacting domestic sales, many companies are aggressively pushing up their export targets, especially with India becoming a small car hub.
Maruti, Hyundai and General Motors posted negative results whereas Honda car sales zoomed in November.
The company had introduced the AGS technology in India with Celerio and it currently offers it in Alto K10 and WagonR also.
Already reeling under a demand slump, automobile manufacturers have expressed disappointment over the RBI's decision to hike short term lending rate saying it is likely to impact the interest rates on car and automobile loans further.
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