Page 65 - Auto
Passenger vehicle wholesales fall 2.5% in July as retail inventory piles up
SIAM is set to discuss the alarming rise in PV inventory in its upcoming executive committee meeting
 "Passenger vehicle wholesales fall 2.5% in July as retail inventory piles up")
Xtreme 125R's production capacity to be increased by 60%: Hero Moto CEO
This is the second time in recent months that the company is increasing the production capacity of this model
 "Xtreme 125R's production capacity to be increased by 60%: Hero Moto CEO")
Maruti Suzuki receives Rs 3.81 crore show cause notice from customs office
The show cause notice asks the automaker to justify its claim for customs duty exemption on certain imported goods
 "Maruti Suzuki receives Rs 3.81 crore show cause notice from customs office")
EV maker Euler Motors unveils Rs 100 cr mfg, R&D facility in Haryana
Spanning 5 lakh square feet, the plant has the capacity to produce 36,000 vehicles per annum and will serve as Euler Motors' national manufacturing hub
 "EV maker Euler Motors unveils Rs 100 cr mfg, R&D facility in Haryana")
Festivals hold promise but passenger vehicle sales may stay flat in FY25
While OEMs are upbeat on the upcoming festive season sales, analysts peg the overall growth in PV sales for FY25 to be flat at 0.8 percent or so
Uttar Pradesh backs hybrid tax waiver; win for Toyota, blow for Tata, M&M
In a meeting between state officials and automakers on Sunday, Uttar Pradesh Chief Secretary Manoj Kumar Singh said there would not be a rollback of the decision
 "Uttar Pradesh backs hybrid tax waiver; win for Toyota, blow for Tata, M&M")
From Tata Motor to Royal Enfield, automakers hit the gas on launches
Mahindra is coming up with Thar Roxx, and plans to reintroduce the iconic BSA Gold Star Bike
 "From Tata Motor to Royal Enfield, automakers hit the gas on launches")
Hero Electric resumes production, seeks up to Rs 200 crore to rev up output
Sources close to the firm indicate that Hero Electric has rejected claims from a segment of its 800 dealers, who allege that the company owes Rs 500 crore in advances for electric two-wheelers
 "Hero Electric resumes production, seeks up to Rs 200 crore to rev up output")
Registration tax waiver on hybrid cars to remain: UP govt to auto companies
The state govt has announced full waiver of registration fee for strong hybrids to boost use of eco-friendly cars
 "Registration tax waiver on hybrid cars to remain: UP govt to auto companies")
Global demand muted; gradual improvement expected in domestic market: TaMo
Earlier this month, the Mumbai-based automaker reported a consolidated net profit of Rs 5,566 crore and total income of Rs 1,09,623 crore for June quarter
 "Global demand muted; gradual improvement expected in domestic market: TaMo")
Bangladesh crisis likely to be a speed bump for Indian 2W companies
Bajaj Auto, Hero MotoCorp, TVS collectively hold over 50% of market share in strife-torn country
 "Bangladesh crisis likely to be a speed bump for Indian 2W companies")
Mercedes-Benz confident of double-digit growth, rolls out 2 new models
Mercedes Benz India reported a 9 per cent growth in sales at 9,262 units in India in the first half of 2024, its highest ever half-yearly sales in the country
 "Mercedes-Benz confident of double-digit growth, rolls out 2 new models")
How 2W market incumbents Bajaj and TVS are flexing their electric muscle
Bajaj and TVS appear to have picked up the gauntlet, taking on Ola in the sub-Rs 1 lakh e2W market - a segment they had kept away from and where Ola reigned supreme
 "How 2W market incumbents Bajaj and TVS are flexing their electric muscle")
MG Motor plans to build manufacturing plant, R&D centre in Mexico
It did not mention the United States, but added that sister brand IM, a luxury electric-vehicle line, also plans to enter the Mexican market
 "MG Motor plans to build manufacturing plant, R&D centre in Mexico")
Epsilon Advanced Materials seeks US trade pact for EV battery compliance
The IRA offers various incentives to accelerate EV adoption in the automotive industry. If signed, the agreement could position India as a key hub for global battery material exports
 "Epsilon Advanced Materials seeks US trade pact for EV battery compliance")
Siam to address soaring inventory concerns in executive committee meeting
As inventory levels have surged to a high of 67-72 days, equating to Rs 73,000 crore worth of stock, the situation is raising alarms about the financial stability and sustainability of dealerships
EVs, hybrid vehicles set to exceed China's 50% car sales for first time
Sales of electric vehicles and plug-in hybrids, which are counted under the category of new energy vehicles in China, rose to 879,000 units, making up 50.8 per cent of total sales
 "EVs, hybrid vehicles set to exceed China's 50% car sales for first time")
Demand for new vehicles up, as used car market see drop in prices: Report
Interestingly, this comes at a time when two-wheeler sales were seen increasing in new vehicles and the used vehicle category
Tesla recalls 1.68 mn EVs in China to repair faulty latches free-of-cost
Tesla's recall notice says that an unlocked trunk lid could open during driving, interfering with the driver's vision
 "Tesla recalls 1.68 mn EVs in China to repair faulty latches free-of-cost")
Uptick in rural demand to propel two-wheeler industry: TVS Motor chairman
TVS expects the domestic two-wheeler industry to continue to grow in FY25 on the back of strong economic indicators, including normal rainfall and uptick in rural demand, TVS Chairman said
 "Uptick in rural demand to propel two-wheeler industry: TVS Motor chairman")