A pickup in freight rates, rising fleet utilisation and a long-awaited replacement cycle are breathing fresh life into India's commercial vehicle (CV) market, strengthening the investment case for Tata Motors' CV arm (TMCV). Despite a broadly steady December quarter (Q3) performance, brokerages remain divided on whether the upswing is strong enough to offset margin pressures.
The Eicher Pro X is assembled on an all-women assembly line.
Priced at Rs 7.99 lakh for the entry-level product, M&M has launched the diesel and CNG variants of Veero, and an electric version will come in the future.
Tata Motors, India's largest commercial vehicle manufacturer, is looking to launch a first-of-its-kind sub-600 kg small commercial vehicle, aiming to cater to the growing demand for efficient last-mile delivery solutions, an area currently witnessing a surge in interest from e-commerce giants. This new entrant is set to be positioned just below the marquee Tata Ace, which is popular across the country as "Chota Haathi".
'The scheme excludes tractors, light commercial vehicles, and medium and heavy commercial vehicles.'
Passenger vehicle wholesales in India touched a record high of 42,18,746 units in the financial year 2023-24, registering a year-on-year growth of 8.4 per cent on the back of robust demand for utility vehicles, industry body SIAM said on Friday. As per the latest data issued by the Society of Indian Automobile Manufacturers (SIAM), the overall passenger vehicle dispatches stood at 38,90,114 units in fiscal year 2022-23. Two-wheeler sales were up 13.3 per cent last fiscal at 1,79,74,365 units, as compared to 1,58,62,771 units in the financial year 2022-23.
'There is a need for a national task force with a singular objective to increase automotive exports.'
'Through volume numbers and unit sales one can see, we are not making a loss'
A joint venture of Reliance Industries Ltd and BP of the UK on Wednesday said it has signed an agreement with the Mahindra Group to explore EV and low-carbon solutions, including battery swapping technology options, for electric 3-wheelers. Besides exploring creation of EV products and services, the non-binding MoU signed by Reliance BP Mobility Limited (RBML) and Mahindra Group would look for identifying synergies in low-carbon and conventional fuels, the company said in a statement. "The MoU also covers evaluating charging solutions by Jio-bp for Mahindra vehicles including electric 3 and 4 wheelers, quadricycles and e-SCV (Small Commercial Vehicles - sub 4 ton)," it said.
With social distancing in customer's mind coupled with the government's push to further normalise business conditions and banks becoming more considerate to finance vehicles, entry level passenger vehicles saw good demand.
Automobile dealers' body FADA on Monday said passenger vehicle (PV) retail sales in October witnessed a year-on-year decline of 8.8 per cent to 2,49,860 units, as registrations slowed down owing to supply issues. According to the Federation of Automobile Dealers Associations (FADA), which collected vehicle registration data from 1,257 out of the 1,464 regional transport offices (RTOs), PV sales stood at 2,73,980 units in October 2019. Two-wheeler sales declined 26.82 per cent to 10,41,682 units last month, as compared to 14,23,394 units in October 2019.
India's traditional companies are now moving full scale into the renewable and alternative energy space that had been dominated by smaller players over the past decade. Companies such as government-owned NTPC and the Adani and the Tata groups restructured their businesses well in time to become major players in the green space. At the same time, other conventional companies, such as Larsen & Toubro and Reliance Industries Ltd (RIL), which have a presence both in the energy sector as well as myriad other activities - construction, technology and retailing - are tying up with new-age companies to hitch a ride to a greener path.
Dealers say that the full-year outlook remains negative with a projected contraction in retail sales of 15-35 per cent across segments, save tractors, which look set to clock a positive annual growth.
After starting exports of its mini truck Ace to Sri Lanka, Tata Motors is gearing up to penetrate a large number of foreign markets with the vehicle for which it is developing an upgraded version.
Tata Motors plans to showcase over 20 passenger and commercial vehicles at the upcoming Delhi Auto Expo.
While sales of compact cars, including models such as Swift, Celerio, Ignis, Baleno and Dzire declined, sales of utility vehicles, including Vitara Brezza, S-Cross and Ertiga, increased 26.3 per cent to 19,177 units as compared to 15,178 in the year-ago month.
M&M also saw its domestic passenger vehicle sales grow by 1 per cent, while Toyota Kirloskar Motor witnessed a decline in its PV sales.
The biggest spender was Tata Motors, with Rs 4,224.6 crore assigned under the R&D head.
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Maruti has improved its sales in the recent past.
Markets snapped their 8-day winning streak.
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Maruti is expected to post double-digit growth on product launches and good demand for entry-level cars.
Two in every five Celerios being sold by Maruti are now equipped with the AMT technology.
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