The two-wheeler industry marked its first fall in 11 months in November with sales of 1.24 million reporting a fall of nearly six per cent compared to the same month last year
The ongoing credit squeeze in the sluggish two- and three-wheeler markets may affect the March sales targets of the three leading domestic players in the country. Taking the cue from a buoyant FY07 where the two-wheeler industry grew by a healthy 11.42 per cent, companies such as Hero Honda, TVS Motors and Bajaj Auto were hoping to surpass the FY07 target of 7.8 million units this year.
India's equity markets are on a roller-coaster ride, after delivering spectacular returns for two consecutive years - in 2020 and 2021. The benchmark National Stock Exchange's (NSE's) Nifty50 is down 1.5 per cent in the first nine months of the current calendar year 2022 (CY22) as foreign portfolio investors sold Indian stocks due to rising bond yields in the US and across global markets, including India. The sell-off in the Indian equity markets has, however, not been broad-based and largely limited to sectors facing earnings headwinds from rising interest rates, lower commodity and energy prices, and likely economic recession in advanced economies.
The price war in the motorcycle market is all set to worsen with large production capacities at tax-free locations in the north ready to go on stream.
Bangalore-based TVS Motor Co has filed a Rs 250-crore (Rs 2.5-billion) defamation suit against Bajaj Auto Ltd in the Bombay high court, against the latter's allegation of patent infringement. Earlier, BAL alleged that TVS had copied its patented DTS-i (Digital Twin Spark plug ignition) technology in the 125 cc TVS Flame, slated to be launched in December this year.
Honda Motorcycle and Scooter India (HMSI), Suzuki Motorcycle India (SMI) and Yamaha Motor India (YMI) are building motorcycles and scooters to suit the Indian market. The models will be manufactured at the company's research and development centres in Japan and will use new platforms.
Declining sales and sliding margins are compelling two-wheeler makers such as Bajaj Auto, Hero Honda and TVS Motors to rejig strategy, to cope with the slowdown.
TVS Motor Company would roll out its bikes from Indonesia plant this month eyeing a first year sales of up to 90,000 units in that market amidst plans to spread its wings in the South East Asian region.
New participants included Chinese players such as Great Wall Motors and Haima Automobile along with Olectra.
Industry representatives have said from the second half of the year, they hope to see revival because the rural economy is looking up and the projects the government has announced.
Venu Srinivasan, Chairman, TVS Motor Company has been conferred with a doctorate in science by Warwick University.
Rajiv Bajaj is on a high. First Bajaj Auto raced into the executive segment with the Discover snapping up a share of 21 per cent
Suzuki Motorcycle India announced the launch of two new bikes for the domestic market 'Heat' for excessive bike users and 'Zeus' targeted at college students and executives.
"We expect to capture the top position in the premium segment with the new bike. We are also working on another bike in the premium segment," Hero Honda managing director Pawan Munjal told reporters in New Delhi.
Passenger vehicle wholesales in India rose by 14.16 per cent in August to 2,15,916 units, driven by pent-up demand, industry body SIAM said on Friday. According to the latest data by the Society of Indian Automobile Manufacturers, passenger vehicle wholesales stood at 1,89,129 units in the same month last year.
Chennai-based two wheeler major TVS Motor Co on Friday said it would set up a motorcycle assembly plant in Colombia through a joint venture company with a local partner.
The net sales drop was due to a decline in motorcycle sales following the credit squeeze by banks and the consequent reduced availability of finance.
A team of more than 60 people under Neeraj Mittal, an IAS officer, was instrumental in getting up the New Industrial Policy 2021 targeting investments of around Rs 10 trillion by 2025.
Market leader Maruti Suzuki India's passenger vehicles sales declined by 2.34 per cent last month at 133,702 units. Hero MotoCorp reported total two-wheeler sales of 480,196 units last month, down 20.05 per cent.
Excise duty on small cars, motorcycles and SUVs was reduced.
Chief Election Commissioner James Michael Lyngdoh, i-flex solutions Ltd chief Rajesh Hukku, and TVS Motor chief executive Venu Srinivasan have figured among the top 25 'Stars of Asia' chosen by the prestigious Business Week magazine.
Fans across the country will soon see Rawalpindi Express Shoaib Akhtar speeding in India not with a cricket ball, but on a yet-to-be-launched powerful bike by TVS Motor Company.
The Sensex closed at 11,853.85 down 79 points. The Nifty lost 23 points to close at 3,455.
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Recognised as one of the Stars of Asia by Business Week International, Venu Srinivasan, the chairman and managing director of TVS Motor Company.
The soft drinks giant bagged the sponsorship rights along with TVS Motor company and Videocon for matches in India in 2003-04.
These are the best value for money bikes in terms of the money they save by using less fuel to run longer distances
TVS Motor Company plans to launch about eight two-wheeler models, including six motorcycles in the next 15 months in an aggressive bid to increase its share in the world's second largest two-wheeler market.
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