The company's operations are slated to commence in Burkina Faso and Ivory Coast next week.
Samvat 2072: Auto sector could see faster recovery
The growth momentum that started during the festival season is likely to sustain in the new year, reports Arindam Majumder.
Leading automakers Maruti Suzuki, Hyundai and Tata Motors on Thursday reported robust sales in March as a shift towards personal mobility and pent up demand continued to help companies push dispatches to their respective retail partners. Toyota Kirloskar Motor, Honda Cars and Mahindra and Mahindra (M&M) also reported strong sales last month as compared to the year-ago period, when dispatches were adversely impacted due to the impending transition to BSVI from April 2020 and the nationwide lockdown to contain the coronavirus pandemic. The country's largest carmaker Maruti Suzuki India said its domestic sales stood at 1,49,518 units last month. The auto major had reported sales of 76,976 units in March 2020.
Two-wheeler maker TVS Motors on Wednesday reported a 32 per cent growth in sales in May at 1,06,914 units compared to 80,895 units in the same month last year.
The Crisil study covered 600 companies excluding financial services and oil companies, representing 71 per cent of the overall market capitalisation of India Inc.
Bangalore-based Reva Electric Car Company, two-wheeler maker Bajaj Auto and Tata Motors are finalising plans to launch electric vehicles in Europe and the US to take advantage of subsidies these countries are offering as part of their environmental agendas.
Japanese two-wheeler maker Yamaha plans to enter the automatic scooter market in India, in the next three years.
Maruti Suzuki growing in double-digits; Suzuki's Japan Q1 top line rose only 1%.
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.
Japanese two-wheeler firm Yamaha today said it will introduce a new version of its super-bike YZF-R1 in the country next year, and a range of other models and variants from its stable to strengthen its position in India.
Besides job loss, the exit of the American cult bike maker would also lead to a loss of up to Rs 130 crore for the brand's dealer partners in the country.
The company would commence export of battery-operated two-wheelers to the US market from January next year, EKO Vehicle Chairman Anil Ananthakrishna told reporters in Bangalore. Set up in January 2005, the company has so far sold more than 15,000 units of its first product under the brandnames Cosmic and Velociti.
For an industry which saw sales shrinking in 2013-14, this is hope indeed.
The company had sold 1,68,971 units in July last year, Bajaj Auto Ltd said in a statement. Total two-wheeler sales during the month also declined marginally at 1,68,731 units compared with 1,69,971 units in the same period a year ago, it added.
According to the monthly sales figures released by the Society of Automobile Manufacturers on Wednesday, motorcycle sales in the domestic market during September declined 18.40 per cent to 5,48,816 units compared to 6,72,570 units in the same month last year.
Indian government must work to drop the cost of land, labour, capital, energy and transport. If these are done, the rest will take care of itself.
For fast-moving consumer goods, growth is likely to be tepid.
Higher input cost is likely to weigh on Auto sector's Q4 numbers.
Kinetic Motor has entered into an alliance with Italian two wheeler maker Leopoldo Tartarini, founder of Italjet, for manufacturing and distribution rights for seven best selling international brands from Italjet's range of scooters.
'I would like to convey the message to your readers that the prime minister himself is directly seized of the situation on the ground. He periodically reviews the situation on the ground and how it is moving forward, taking inputs from economists, business leaders, chambers of commerce.'
Two-wheeler maker TVS Motor Company Ltd will enter the three-wheeler segment in an year's time, its chairman Venu Srinivasan said on Friday.
The traffic tells a story. During the lockdown, it took 45 minutes to zip through the deserted 35-km stretch from Chennai to reach the automobile heart of Sriperumbudur-Oragadam, where the big names of the car industry - Hyundai Motor India, Renault-Nissan India, Daimler India Commercial Vehicles, Apollo Tyres, and Royal Enfield - are based.
India's economy could also suffer some ill-effects without necessarily triggering retaliation via higher tariff barriers against Indian goods, says Devangshu Datta.
It is true that the rupee is at least becoming less strong, albeit slowly.
If the drop in sales over the past two years is anything to go by, India's dream of putting seven million electric vehicles on road by the end of this decade has come a cropper.
The country's largest carmaker Maruti Suzuki India (MSI) on Monday reported a 11.8 per cent increase in wholesales to 164,469 units in February. The company had sold 147,110 units in February last year, Maruti Suzuki India (MSI) said in a statement. Domestic sales increased 11.8 per cent to 1,52,983 units last month, as against 1,36,849 units in February 2020, it added.
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."
Though Hero still leads by a wide margin in annual and monthly sales, for the first time, Honda has considerably bridged the sales gap with the Pawan Munjal-led firm in April lagging only by 12,134 units
'I have personally been very keen on investing in lithium ion battery technology for some time.'
Issues like high insurance cost and the announced price hike effective January could also weigh on sales in 2019. The only bright spot is the softening seen in fuel prices over the past month.
The government did not tell us why our economy had imploded. The prime minister simply stopped speaking on the subject, asserts Aakar Patel.
'In the short term, we may see some disruptions due to Covid, but in the medium-to-long term, we should keep an eye on US inflation and 10-year bond yields.'
The wheels turn for bicycles, as manufacturers go back to the basics. After motorised two-wheelers overtook cycle sales in the country, manufacturers are focusing on commuter segment again and reviving entry-level cycles.
