The total number of passenger vehicles (cars and utility vehicles) sold annually in the 1970s was 32,000 units - less than even one week's sales today.
The 30-share Sensex gained 271 points to end at 28,805 and the 50-share Nifty ended up 84 points at 8,712.
Ola Electric has finalised its second phase of expansion, under which it will increase its plant capacity fourfold - from 1 million two-wheelers per annum to 4 million. This will also include motorcycles, said a top executive of the company. It will also build a plant with a 5 Gwh of advanced chemistry cell battery storage capacity in the same super factory located on the outskirts of Bengaluru.
The strong domestic growth for new vehicle sales during 2008-12, which witnessed a compounded annual growth rate of 14 per cent, led to an increased inventory of used cars, thanks to trade-ins.
Maruti has improved its sales in the recent past.
Maruti Suzuki growing in double-digits; Suzuki's Japan Q1 top line rose only 1%.
Buying a car, particularly a diesel-powered one, is set to pinch the customers' pockets even more from the next financial year, as the second phase of Bharat Stage VI (BSVI) emission norms kicks in. The rules require cars to be compliant with real driving emission (RDE) norms, which measure pollutants emitted by cars while they are being driven on the road, unlike in a laboratory test. The norms may increase the cost of producing diesel vehicles by nearly Rs 75,000 to Rs 80,000, and petrol-powered ones by Rs 25,000 to Rs 30,000, analysts said.
Suzuki and Toyota are in talks for electric mobility and MSI would continue to access technology from its parent.
In the past six months, Nissan sold around 200 Evalias only
Losers include ONGC, Bajaj Finance, Reliance, SBI, Hero MotoCorp, ICICI Bank, L&T, Vedanta, Yes Bank and Axis Bank, falling up to 2.54 per cent. On the other hand, Tata Steel, PowerGrid, HCL Tech, Kotak Bank and Maruti were the top gainers on Sensex, rising up to 2.31 per cent.
According to the Icra report, earnings before interest, tax, depreciation and amortisation margin of its sample declined by 44 basis points on a YoY basis and 23 basis points on a quarter-on-quarter basis to 16.6 per cent.
After GM's India exit, Ford-Mahindra 'strategic alliance' under spotlight.
Maruti is sticking to this strategy at a time when rival Hyundai is looking to make the most of the monopoly it will have in the compact diesel segment from April 1, 2020, when the BSVI emission norms kick in. The market leader's confidence stems from the rapid shift in favour of petrol in the PV segment. For newer models such as MG Hector and Seltos, nearly 75 per cent bookings are for petrol variants, Kia has 55 per cent from petrol variants. The change in customer preference from diesel variants to petrol has happened quickly over the past few years.
With diesel cars set to become costlier from next year with the implementation of stricter BS-VI emission norms, major automakers in India are contemplating about the future of such vehicles in their portfolios.
The Reserve Bank's growth projection for next financial year is lower than 8-8.5 per cent projected by the finance ministry in the recent Economic Survey which was tabled in Parliament on January 31. Unveiling the bi-monthly policy, RBI governor Shaktikanta Das said, "Recovery in domestic economic activity is yet to be broad-based, as private consumption and contact-intensive services remain below pre-pandemic levels."
The company is also working on various other measures such as enhancing quality of manufacturing facilities and improving customer buying and after sales experience.
Japanese automaker says the 'element of trust has been broken'
SIAM said excise duty must be lowered
Auto major Tata Motors on Tuesday launched a new version of its small car Nano, which has dual fuel option of petrol and CNG, priced between Rs 2.40 lakh and Rs 2.65 lakh (ex-showroom, Delhi).
Tata Motors on Wednesday expanded its electric vehicle range in the country with the launch of Nexon EV MAX, priced between Rs 17.74-19.24 lakh (ex-showroom). Equipped with a 40.5 kWh lithium-ion battery pack, the Nexon EV Max offers 33 per cent higher battery capacity than the Nexon EV, delivering ARAI certified range of 437 km (under standard testing conditions), ensuring uninterrupted inter-city travel. ARAI refers to Automotive Research Association of India. The model produces 105 kW (143 PS) of power and delivers a torque of 250 Nm, resulting in 0 to 100 sprint times in under 9 seconds.
Over 22 passenger and commercial vehicle makers and 18 two- and three-wheeler makers will take part amid proximate security.
A number of companies, including Maruti Suzuki, Renault and Nissan, are giving gold coins to buyers who book cars by the month-end. There are other benefits as well, reports Ajay Modi.
Tata Motors might have to rethink its association with sportstar Lionel Messi.
Nissan and Renault say they will compete with new models, especially small cars, and by growing their dealer network.
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Automobile sector accounts for the third-highest equity mutual fund contributions.
Ford to launch new compact car Figo Aspire in India
With swanky showrooms and VR-enabled sales platforms Maruti Suzuki, Tata Motors, and Skoda bet on shine and gloss,and place their faith in experiential branding.
Once the 21-day lockdown is lifted, which may happen in phases, those who have been contemplating purchasing a car may actually do it, said analysts. Thanks to social distancing norms and rising hygiene awareness, daily commuters may ditch public transport and shared mobility solutions like Ola and Uber. Many are likely to prefer the confines of a car over roughing it up in crowded public transport services such as a metro, local sub-urban trains and buses, they said.
Nifty50 surged 145 points to close at 8,468 after hitting an intra-day high of 8,475.
One can see the scale of recalls going up as the market expands.
The resurgence of COVID-19 has dented but not debilitated economic activities in the first half of Q1 of the current fiscal even though caseload of infections is much higher than before, according to an RBI article. The ferocity of the second COVID-19 wave has overwhelmed India and the world, the article said, adding that war efforts have been mounted to stop the surge in its tracks. "The impact of the second wave on the real economy seems to be limited so far in comparison with the first wave. Evidently, the localised nature of lockdowns, better adaptation of people to work from home protocols, online delivery models, e-commerce and digital payments are at work," the article on the state of economy authored by RBI Deputy Governor M D Patra and other officials said.
Car maker Ford India said it is looking at introducing a small car model in the country as part of its strategy to roll out eight new products by 2015.
Code-named Pelican, bigger hatchback with new petrol and diesel engines may hit the road next year.
Though strikingly similar to the Tiago, the Tata Tigor takes the design quotient a notch higher, says P Tharyan.
Toyota Kirloskar Motor (TKM) on Wednesday launched new version of its premium sedan Camry Hybrid in the country priced at Rs 41.7 lakh (ex-showroom). The sedan now comes with a new front bumper, grille and alloy wheels, a floating type bigger 9-inch infotainment system, among others. Further, the self-charging hybrid electric sedan is now available in a new exterior colour of Metal Stream Metallic in addition to the existing colours of Platinum White Pearl, Silver Metallic, Graphite Metallic, Red Mica, Attitude Black, and Burning Black.
'It says, we are not just an overseas player -- we are Kia India and here for good'
EcoSport accounts for almost 40 per cent of the cumulative one million units sold by Ford in India till date, which is a reason why more than half of its future launches could be SUVs.
'I'm pitching India for the strengths we offer, including the English language, engineers, doctors, nurses, professionals, innovative talent of startups.'
The car will compete with Hyundai Grand i10 and Maruti Suzuki Celerio
