On a weekly basis, the Sensex climbed 749.86 points or 2.69 per cent and the NSE Nifty soared 237.10 points or 2.76 per cent
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
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.
The company decides to launch premium, entry-level bikes after competition hits high gear.
Tata Motors on Tuesday said its electric vehicle arm has reduced prices of two models -- Nexon.ev and Tiago.ev -- by up to Rs 1.2 lakh on account of reduction in battery cost. The auto major has cut the price of Nexon.ev by up to Rs 1.2 lakh and now the model price starts at Rs 14.49 lakh. Similarly, the company has reduced the prices of Tiago.ev by up to Rs 70,000 with the base model now starting at Rs 7.99 lakh, Tata Motors said in a statement.
Maruti Suzuki, Hyundai, Honda Cars and Tata Motors posted single digit growth during the period under review while M&M reported decline in sales.
The bad news is that the company has reported an output constraint at its plants because some component vendors were unable to keep pace with the faster production cycle.
Prices of two-wheelers, passenger and commercial vehicles are set to rise 15-25%
Auto makers are keen to boost sales in ensuing months.
Spending at restaurants and bars grew more than 8 per cent compared to the year before.
'One cannot take it that the economy has recovered, and the GST payment has increased because of that, or that production is back to January 2020 level.'
The onus is on the banks to pass the benefit to customers.
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.
Aiming to bolster its sagging auto sales and ultimately getting into the black, General Motors is set to emerge leaner and cost-competitive through drastic restructuring, according to the firm's bankruptcy filing.
The ministry of petroleum and natural gas has granted seven authorisations to companies for selling automobile (auto) fuels in the country. These new approvals are under the relaxed guidelines for authorisation to market transportation fuels that were revised in 2019. This is expected to make the competition more intense in India's petroleum retail business. According to a top oil ministry official, a fresh marketing authorisation has been granted to Reliance Industries (RIL) under these norms. This is being done since RIL's existing retail marketing authorisation has been transferred to its subsidiary Reliance BP Mobility
Mopeds are sought by people with smaller businesses, with their weight-carrying and haulage ability beside being lighter and easy to manoeuvre in traffic.
Auto financiers, which had tightened lending norms in the face of rising defaults last year, may loosen their fists in the wake of the Calcutta high court's order of Wednesday, reaffirming the lender's right to seize vehicles if customers stop repaying loans.
as the FAME II deadline of March 31, 2024, nears, EV manufacturers are worried about their investments and future plans.
The company had earlier said it would sell its Indian-made four-door and two-door diesel pick-up trucks in the US market by the end of the year.
State-run Indian Oil Corporation (IOCL) reported a weak performance in the fourth quarter of FY24 (January-March 2024), and the turmoil in the energy market indicates it could endure another lacklustre quarter. The oil marketing company (OMC) reported an Ebitda of Rs 10,400 crore, down 27 per cent year-on-year (Y-o-Y) due to weak reported gross refining margin (GRM) of $8.4 per barrel in Q4FY24, which was almost half the consensus expectation of $15 per barrel.
Buoyed by staggering sales of Tata's Ace, the one-tonne mini-truck launched mid-2005, Mahindra & Mahindra, Ashok Leyland Ltd, Bajaj Auto Ltd, Piaggio and Hyundai
A widening probe by US authorities involving top drug companies following complaints of price fixing of generics was a point of worry for the participants, said analysts.
Hero MotoCorp, India's largest two-wheeler maker, has seen a decline in its market share in rural areas since 2018, losing ground to major competitors such as TVS Motor Company, Bajaj Auto, and Honda Motorcycle & Scooter India (HMSI), according to data from JATO Dynamics reviewed by Business Standard. Hero's share of rural two-wheeler sales in India has dropped from 40.4 per cent in 2018 to 33.3 per cent in 2023. In contrast, Bajaj's share increased from 12.7 per cent in 2018 to 13.9 per cent, HMSI's from 21.8 per cent to 22.2 per cent, and TVS' from 15.5 per cent to 17.8 per cent. Suzuki Motorcycle India has also seen its share rise from 1.7 per cent to 2.5 per cent.
Hybrids have helped Maruti acquire leadership in SUVs, a segment that was never its forte. Toyota has also risen with the hybrid tide to clock its highest-ever annual sales in 2023.
Import duty on steel is a critical factor determining domestic steel prices. Auto component makers and automobile majors, faced with sagging sales over the last two quarters, have expressed strong reservations against the steel industry's demand for re-imposition of 5 per cent import duty on non-alloy steel (used to manufacture car bodies and stamped auto parts).
General Motors India Vice President P Balendran termed the decision as a positive move for the overall economy.
Geopolitical events, macroeconomic data and quarterly earnings of corporates would guide the stock market in a holiday-shortened week ahead, analysts said. Stock markets will remain closed on Wednesday for Ram Navami. "This week promises to be crucial for the market as fresh worries about a potential conflict between Iran and Israel emerge.
Automakers finish 2008 on a bleak note. Expect 2009 to be worse.
The interim Budget in May this year had extended the depreciation benefit on purchase of new commercial vehicles to September from March 2009. Industry executives said this should be extended as sales of large vehicles slumped 40 per cent in April and May this year. Sales of medium and heavy commercial vehicles had dipped 33 per cent in 2008-2009.
China has zoomed past the United States as the world's biggest auto maker and market with sales exceeding 13.64 million units last year, an industry association said in Beijing on Monday.
In a major victory for Tatas, an arbitral tribunal has awarded Tata Motors a compensation of over Rs 766 crore for the losses incurred because of protests by Trinamool Congress that stalled its small car project at Singur in West Bengal. The tribunal asked the West Bengal government to pay Tata Motors the compensation, along with interest, according to a stock exchange filing by the Mumbai-based auto major on Monday. The company stated that the arbitral tribunal has asked the West Bengal Industrial Development Corp (WBIDC) to pay the company Rs 766 crore compensation, in connection with losses incurred on its manufacturing site in Singur.
Two-wheeler exports from India have decreased by 20 per cent year-on-year (Y-o-Y) to 1.69 million units in the first half (H1) of 2023-24 (FY24) due to a challenging geopolitical situation and foreign exchange (forex) crises in key markets such as South Asia, industry body Society of Indian Automobile Manufacturers (Siam) said on Monday. On the other hand, passenger vehicle (PV) exports in H1FY24 increased by 5 per cent to 336,754 units because the key markets are much more diversified worldwide, Vinod Aggarwal, president, Siam, told reporters during a press conference. The Russia-Ukraine war, which started in February 2022, has brought significant instability to global fuel prices.
August 2010 proved to be a good month for most auto manufacturers.
Tata Motors, Maruti Suzuki and Hero MotoCorp among the top Sensex gainers
As per a Knight Frank FICCI Naredco report, a majority 69% of the stakeholders say that the residential sales will remain tepid or may even go down further in the coming six months.
Best cars selected by enthusiasts and owners across 10 different categories.
Auto companies in the state are likely to go on an expansion drive buoyed by better-than anticipated sales over the past few quarters.
Samvat 2072: Auto sector could see faster recovery
Tata Motors, Mahindra & Mahindra and Kia India on the other hand witnessed an increase in their market share based on the retail sales last fiscal. As per the Federation of Automobile Dealers Associations (FADA), the retail sales of country's largest carmaker Maruti Suzuki India rose to 14,79,221 units in 2022-23 fiscal, attaining a market share of 40.86 per cent. It had retailed 12,39,688 units in 2021-22 and grabbed a market share of 42.13 per cent.
