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.
Maruti Suzuki, Hyundai and Tata Motors reported a decline in wholesales in September as the companies curtailed dispatches to dealers to reduce inventory build-up amid a decline in demand. Maruti Suzuki India reported a 4 per cent dip in total domestic passenger vehicle wholesales last month to 144,962 units compared to 150,812 units in the year-ago month. The auto major said sales of mini segment cars, comprising Alto and S-Presso, grew marginally to 10,363 units against 10,351 units in September 2023.
Domestic rating agency Icra on Monday revised its FY24 GDP growth forecast to 6.5 per cent from 6.2 per cent earlier. However, the revised forecast is still much lower than the Reserve Bank of India's (RBI's) 7 per cent real Gross Domestic Product (GDP) growth estimate for the ongoing fiscal. Earlier this month, the RBI had revised upwards its GDP estimate to 7 per cent from 6.5 per cent, calling the revised number a "conservative" one.
State governments need to focus on building charging infrastructure to realise the goal of transitioning a large proportion of their sales to EVs, reports Ishaan Gera.
'This case is not a good example of intellectual property strategy for either sector.'
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
In September, JSW MG Motor India, the newly minted joint venture between SAIC Motor, which is present in 100 countries, and Indian conglomerate JSW Group, launched the Windsor, an electric car that introduced battery as a service (BaaS).
On the fateful night, multiple teams were deployed under four ACPs of Rohini district to trace the car, collect details from PCR callers and identify the victim as well as the accused involved in the case, sources said, adding that teams from Aman Vihar, Prem Nagar, Begumpur and Prashant Vihar were deployed to crack the case.
Retail sales of vehicles across categories in India grew by 11.21 per cent at 32,08,719 units in November, as compared to 28,85,317 units in the same month last year riding on two-wheeler demand, Federation of Automobile Dealers Associations said in Monday. Retail sales of two-wheelers were at 26,15,953 units last month, as compared to 22,58,970 units in November 2023, a growth of 15.8 per cent buoyed by the festive spillover.
Punjab Police launched a statewide operation against drugs, conducting raids at more than 750 locations as the cabinet sub-committee on the drug menace held its first meeting on Saturday. Around 12,000 police personnel were involved in the operation being carried out as part of an anti-drug campaign. Punjab Chief Minister Bhagwant Mann on Friday set a deadline of three months to make the state drug-free. The operation led to the arrest of 290 drug smugglers after registration of 232 FIRs. Police recovered 8.14 kg heroin, 1.21 kg opium, 3.5 kg ganja, 19 kg poppy husk, 700 grams charas, 16,238 intoxicant tablets, injections and Rs 8.02 lakh cash.
Bus services between Karnataka and Maharashtra have been suspended following attacks on buses and their crew. The decision was taken given the tension prevailing in the border district of Belagavi over a sensitive issue. The language row began after a group of people allegedly intercepted a KSRTC bus and assaulted its conductor and driver for not speaking to a passenger in Marathi. The passenger, a minor girl, also filed a complaint stating that the conductor misbehaved with her. However, the family of the minor girl has decided to withdraw the case and urged people to stop escalating the matter into a language dispute between Karnataka and Maharashtra.
The Kerala High Court has criticized both the ruling front and the opposition in the state for holding public meetings that block public roads and footpaths. The court observed that the December 5 incident, where the CPI(M) held a conference outside the Vanchiyoor court complex in Thiruvananthapuram, was a "clear case of breach of trust" as the government holds the roads as a trustee of the people. The court has directed the police to submit a report by December 16 identifying those involved in the meeting, including those who attended and were seen on-stage in news reports. The court also pointed out that the stage for the meeting was constructed right on top of the pedestrian/zebra crossing, completely blocking the carriageway on one side of the road. This caused traffic snarls and inconvenienced pedestrians, including school children, infants, and elderly persons. The court said that provisions of the Bharatiya Nyaya Sanhita (BNS) and other laws, like the Motor Vehicles Act, would be applicable to the incident.
The GST Council on Saturday postponed a decision on cutting tax rate on life and health insurance premiums, officials said. The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, decided that some more technicalities needed to be ironed out and tasked the GoM for further deliberations.
The truck loaded with husk was intercepted near Sidhra's Tawi bridge checking point along Jammu-Srinagar national highway on Wednesday morning
For deciding which vehicles are to be scrapped, the setting up of fitness centres and regulating them would be a humongous task.
Two police officials who were injured when the container driver and his associate attacked them in a bid to flee, have been admitted to a government hospital with injuries, she said.
The government on Friday extended the validity of motor vehicle documents like driving licence (DL), registration certificate (RC) and permits till June 30, 2021, in view of the ongoing COVID-19 pandemic. In an advisory to states, the Ministry of Road Transport and Highways (MoRTH) said it is extending the validity of fitness, permit, driving licence, registration and other documents whose extension of validity could not be granted due to lockdown and which had expired since February 1, 2020, or would expire by March 31, 2021. It had earlier issued advisories dated March 30, 2020, June 9, 2020, August 24, 2020, and December 27, 2020, in connection with extension of validity of documents related to the Motor Vehicles Act, 1988, and Central Motor Vehicle Rules, 1989.
A bench headed by Justice Arun Mishra said Bharat Stage-IV vehicles sold after March 31 this year and those whose details have not been uploaded on the e-Vahan portal of the government will not be registered.
Passenger vehicle (PV) retail sales rose to 184,134 units last month against 85,733 units in May this year as the COVID-19 situation improved across the country. According to the Federation of Automobile Dealers Associations (FADA), which collected vehicle registration data from 1,295 out of the 1,498 regional transport offices (RTOs), two-wheeler sales rose to 930,324 units last month as compared to 410,757 units in May.
From attractive EMIs to assured buyback guarantees, luxury carmakers have lined up a slew of offers to woo customers this festival season to address dwindling sales amid rising inventories.
The Uttar Pradesh government has deployed two senior IAS officers, who were part of the team that successfully conducted the 2019 Ardh Kumbh, to oversee the smooth conduct of the Maha Kumbh Mela in the wake of the recent stampede that left at least 30 pilgrims dead. The officers, Ashish Goyal and Bhanu Chandra Goswami, have extensive experience in administration in Prayagraj, including crowd management and inter-agency coordination. They will join Mela Adhikari Vijay Kiran Anand, forming a trio that was part of the mega fair six years ago. The government has also deployed additional senior police officers to strengthen security and crowd management ahead of Basant Panchami, one of the key bathing days of the festival, on February 3.
Electric vehicle retail sales in the country witnessed over three-fold jump last fiscal with two-wheeler offtake leading the segment, according to data compiled by automobile dealers' body FADA. Total electric vehicle (EV) retails reached 4,29,217 units in 2021-22, a rise of three-fold from 1,34,821 units in the financial year 2020-21, the industry body said. Total EV sales had stood at 1,68,300 units in the 2019-20 fiscal, it noted.
Passenger vehicle retail sales in the country rose 40 per cent in June indicating an improvement in semiconductor supplies even as demand, especially for SUVs, remained robust, auto dealer' body FADA said on Tuesday. According to the Federation of Automobile Dealers Associations (FADA), passenger vehicle (PV) registrations rose to 2,60,683 units last month, as compared to 1,85,998 units in June 2021, registering an increase of 40 per cent. "The PV segment continued to see robust growth. An increase in dispatches clearly shows that semiconductor availability is now getting easier," FADA president Vinkesh Gulati said in a statement.
According to him, the Supreme Court monitoring committee on road safety took note of the accident and informed the state government that over-speeding is rampant and is leading to loss of lives.
Ratings agency ICRA on Wednesday revised downwards growth forecast for the domestic passenger vehicles industry to 8-11 per cent in the ongoing fiscal from the earlier estimate of 14-17 per cent on account of the ongoing semiconductor shortage. Similarly, for the two-wheeler segment, it said the volumes are expected to contract by 1-4 per cent in FY2022 against an earlier prediction of 6-8 per cent growth as affordability and demand sentiments of target clientele was hit sharply by the second wave of COVID-19 pandemic. With around 5 lakh units of production lost by various automakers in the passenger vehicles segment due to the semiconductor shortage, ICRA said the earnings loss for the OEMs (Original Equipment Manufacturers) could be around Rs 1,800 crore to Rs 2,000 crore for the ongoing fiscal.
Automobile retail sales in the country fell 18 per cent year-on-year in the 42-day long festive period this year as semiconductor shortage impacted production across companies affecting their ability to supply adequate numbers to dealer partners, FADA said on Thursday. During the period under review, barring three-wheeler and commercial vehicles, all other segments including passenger vehicles, two-wheelers and tractors were down as compared with the same period of last year. As per data collated by the Federation of Automobile Dealers Associations (FADA), total retail sales across segments stood at 20,90,893 units this festive period, down 18 per cent from 25,56,335 units in 2020.
Expect premiums to go up or introduction of a co-pay option for third-party damage
Passenger vehicle wholesales crossed the 10-lakh mark for the first time ever in the June quarter riding on the back of robust demand for utility vehicles, industry body SIAM said on Friday. Total dispatches of passenger vehicles in the first quarter stood at 10,26,006 units, up 3 per cent as compared with 996,565 units in April-June FY24. Utility vehicle sales rose 18 per cent to 645,794 units in the first quarter as against 547,194 units in the year-ago period.
The two-wheeler giant had only 14 per cent of the electric two-wheeler market in May this year, but its 26.8 per cent in December
Mahindra & Mahindra, Titan, Sun Pharma, ITC, Nestle and Tata Motors were the other big gainers. Reliance Industries, Kotak Mahindra Bank, Bajaj Finance and JSW Steel were among the laggards.
Do not get repair work started without informing the insurer as the latter like to carry out end-to-end verification of damages and documents before approving a claim.
In addition to that, 68 people still remain missing, with 100 more sustaining injuries in the disaster.
Manipur Chief Minister N Biren Singh on Tuesday apologised for the ethnic conflict in the state which claimed over 250 lives and rendered thousands homeless, and appealed to all communities to forget and forgive past mistakes and live together in a peaceful and prosperous state.
Electric two-wheeler (e2W) maker Ather Energy has submitted preliminary papers to the Securities and Exchange Board of India to raise funds through an initial public offering (IPO). According to the draft red herring prospectus (DRHP), the IPO will comprise a fresh issue of equity shares valued at Rs 3,100 crore, alongside an offer for sale of 22 million equity shares by its promoters and investor shareholders.
A list of lesser-travelled destinations in India that you must explore this year!
Under the law, Rs 10,000 fine would be levied for not giving way to emergency vehicles and for driving despite disqualification. Aggregators violating driving licence norms will be fined up to Rs 100,000.
After a brief lull during the pandemic, there is a strong revival in luxury car sales, bolstered by more launches across price bands, replacement demand, ban on old diesel vehicles in the NCR, and 'revenge buying'.
When it comes to electric cars, the electric dream is turning out to be a six-letter word starting with f, ending with y, and having antas in between, notes Suveen Sinha.
Passenger vehicle sales are expected to experience muted growth in the current financial year.
The Gujarat high court has directed that a woman intending to marry a man from a different religion be escorted by police from Junagadh to Ahmedabad for the registration of their marriage in Ahmedabad after her parents opposed her decision to tie the knot with him.
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