Honda Cars India (HCIL) net profit dropped by 52.8 per cent year-on-year (Y-o-Y) to Rs 661.4 crore in 2023-24 (FY24), primarily due to deferred tax of Rs 359.8 crore, according to the annual results submitted to the Registrar of Companies (RoC) and reviewed by Business Standard. In FY24, the company's production increased by 16 per cent Y-o-Y to 134,807 units.
Domestic passenger car sales grew 2.64 per cent to 1,76,011 units in March.
The government will put on sale around 20 critical mineral blocks in the fourth round of auction by the end of June, mines secretary V L Kantha Rao said on Monday. Rao further said that the auction process for seven critical mineral blocks put on sale in the first round is almost complete and the result would be declared in a month's time. Critical minerals such as copper, lithium, nickel, cobalt and rare earth elements are essential components in many of today's rapidly growing clean energy technologies -- from wind turbines and electricity networks to electric vehicles.
The metro, it seems, is politics-proof -- even if it comes at a high cost.
Healthy sales of passenger cars, motorcycles and commercial vehicles enabled Indian automobile industry to grow 15.9 per cent at 78,96,475 units in the domestic market in the fiscal ending March 31, 2005.
'Price competition is fierce, with many companies selling at zero margin.' 'This pricing pressure is challenging smaller companies and will likely drive some out of the market over time.'
If electric cars with a real range of more than 400 km are launched, the anxiety regarding the charging points will come down, and more people will buy EVs.
The passenger vehicles sales in the country has seen a 21.21 per cent growth during April at 1,30,013 units as against 1,07,263 units during the same month a year ago. The domestic car sales rose 17.2 per cent in April to 98,740 units from 84,283 in the same month a year earlier. The domestic sale of commercial vehicles such as trucks and buses increased 7.6 per cent to 33,271 units in April, from 30,914 over the same period last year.
The push given to rooftop solar installation in the Interim Budget ties in with its high rate of adoption in Tier-II and -III cities of India. If original equipment manufacturers (OEMs) in the automobile industry, government, and the solar sector are to be believed, in cities of Rajasthan, Gujarat, and Kerala, 45-50 per cent of electric-vehicle (EV) users are employing rooftop power to charge their vehicles. This is compared to the national average of 25 per cent, say industry sources.
The BS-IV emission norms will come into force from April 1, 2017.
Proliferation of home chargers of around 7 KWh and above, which take six to seven hours to fully charge a car depending on the model, bring running costs down by a third or so. That, coupled with the increasing range of modern electric cars, can lead to a massive increase in sales.
'I see a virtually zero impact on the sales of new vehicles with this move,' said an expert
Tata Motors is the leader in the electric car market with about 62 per cent share.
Maruti Suzuki, Tata Motors, Mahindra & Mahindra, Hyundai and MG Motors are gearing up to introduce EVs in India.
It said total passenger vehicles sales were 45,380 units, in January 2010, a growth of 76 per cent from the corresponding month last year.
Why is Shailesh Chandra, managing director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, not worried about the competition?
To boost the sagging sales of electric vehicles, the government on Wednesday approved the extension of the Ministry of New and Renewable Energy (MNRE)'s subsidy scheme to incentivise sales of electric cars and two-wheelers in the country.
The Indian auto industry, which was heading towards negative growth territory, managed to stay in the positive zone in the fiscal ended March 31, thanks to the government's stimulus packages, recording a 0.71 per cent increase in total vehicle sales.
Mahindra & Mahindra has posted a 34.8% rise in sales for the fiscal 2003-04 at 1,15,782 vehicles as against 85,835 in 2002-03 while its SUV Scorpio at 23,976 units posted a whopping 103.3 per cent rise over the previous fiscal.
For the first time in history, the luxury car market is poised to cross the sales mark of 50,000 units in 2024, with Mercedes leading the way
Analysts said the demand recovery in two-wheeler and car segments was skewed towards the semi-urban and rural markets.
With nearly 100 launches and unveils, the Bharat Mobility Global Expo 2025, held in Delhi from January 17 to 22, made one thing clear to automobile enthusiasts: Electric vehicles (EVs) are the way ahead for the Indian auto market for years to come.
US President Donald Trump has proposed a deal to China that would see the sale of TikTok's US operations to an American buyer in exchange for a reduction in tariffs on Chinese exports to the US. The proposal comes amid a trade war between the two countries and follows China's retaliation of Trump's tariffs on Chinese goods. Trump has also said that tariffs are a powerful economic tool and that he is determined to ensure fair trade between the US and China.
Passenger vehicle wholesales in India witnessed a 21 per cent annual growth in August, riding on improved supplies of semiconductors and festive demand, according to the Society of Indian Automobile Manufacturers. As per the latest data released by industry body Society of Indian Automobile Manufacturers (SIAM), passenger vehicle (PV) dispatches to dealers stood at 281,210 units last month, against 232,224 units in August 2021. Passenger car wholesales were up 23 per cent at 133,477 units last month, as against 108,508 units in the year-ago period, SIAM said.
India ranks 6th in the Asia-Pacific region for the Italian super luxury carmaker.
Players like Ola Electric, Ather Energy, Kinetic Green and BGauss are introducing premium services and infrastructure enhancements.
'Now that all the early adopters have the electric car, governments are backing down in some countries because they do not have the money to subsidise so much.'
Automaker Tata Engineering & Locomotive Co Ltd said on Monday its total vehicle sales in May vaulted 67.9 per cent from a year ago to 21,929 units, boosted by higher car sales.
Car sales in India surged by 12.87 per cent in December.
About 99,165 electric cars were sold in India in 2024, but electric car penetration -- share of electric car sales in total sales -- was just about 2.5 per cent.
The previous May peak was observed in 2018 when the domestic PV wholesales stood at 301,238 units.
Home grown auto major Tata Motors on Friday reported a 45 per cent jump in total vehicle sales at 44,357 units in May this year as against 30,593 units in the same month last year.
At a time when new car sales are witnessing record decline in India, pre-owned vehicles are likely to witness 10 per cent growth in sales to touch 4.4 million units in 2019 with millennials emerging as major buyers, according to a report by consumer-to-consumer marketplace OLX.
'From the Indian perspective, young customers with more disposable income will also drive the growth.'
The Tesla careers page reveals there are 14 staff vacancies, of which 13 are based in Mumbai.
The new four-wheeler (4W) electric vehicle (EV) policy may spur the entry of global majors. The manufacturing policy cuts Customs duty to 15 per cent, given a minimum investment commitment. It calls for a minimum investment of Rs 4,150 crore (about $500 million) for making electric four wheelers (e-4Ws), with manufacturing to commence within three years of approval.
The auto industry has had a mixed month. The build up to Dhanteras and Diwali was good but the demand tapered off subsequently.
'I believe that the overall demand for commercial vehicles will improve, even though there is a slowdown in the GDP.'
Sales of commercial vehicles were up 12.73%.
Total two-wheeler sales in June rose 3.55 per cent to 13,07,710 units.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances