Page 83 - Auto

UP emerges as top state in total vehicle sales, Maharashtra 2nd: SIAM

As per data from Society of Indian Automobile Manufacturers (SIAM), Uttar Pradesh clocked a total sales of 8,22,472 units across passenger and commercial vehicles; and two and three-wheeler categories

India outpaces peers in light vehicle sales growth: S&P Global Mobility

Sales grew 35% in CY23 compared to pre-pandemic level of CY19

Ola Electric slashes prices of three S1 models by up to Rs 25,000

Besides Ola Electric, several EV players such as Ather, Okaya, and Bajaj have slashed the prices of their products to make electric vehicles more affordable and accelerate their adoption in India

CV growth worries, sustainable margin gains key concerns for Bosch

While localisation efforts and margin improvement are medium-term positives, the immediate trigger is the healthy Q3 show

Royal Enfield partners with K-Rides Motosiklet to enter Turkiye market

The first flagship store is set to open in Istanbul this spring, Royal Enfield said in a statement

BYD to launch Seal EV Sedan in India on March 5, check full update here

Tesla's rival, BYD, is launching its third model Seal EV Sedan in India on March 5, 2024. The Seal EV dimensions are 4,800 mm in length, 1,875 mm in width and 1,460 mm in height

Ola Electric cuts its scooter prices by up to Rs 25,000. Details here

Ola Electric's chairman and managing director Bhavish Aggarwal, in a recent tweet, announced a significant price reduction on their range of e-scooters

Mahindra & Mahindra to use Volkswagen electric components, battery cells

The Indian company will be the first external partner to use the unified cell, a new cell technology that Volkswagen plans to use for 80% of its battery cells and promises will reduce costs by half

Tata group considering spinoff of battery business Agratas Energy Storage

A listing may value Agratas at $5 billion to $10 billion depending on its growth and market sentiment, they said. A representative for Tata declined to comment

Tractor industry sales likely to dip 5% due to agri activities slowdown

The market leader in tractors in India, Mahindra and Mahindra, felt that the year would end with around 900,000 units in sales compared to 945,000 units sold in 2022-23

Commercial vehicle sales likely to enter into a downcycle in 2024-25

Volumes are expected to dip by 4-7 percent

Bike taxis get Centre's legal kick-start paving way for new riding option

This move now allows motorcycles to operate legally as contract carriages in India, potentially opening up new transportation options and income opportunities

Passenger vehicles wholesales grow 14% in Jan, retail catches up

'Positive consumer sentiment' leads to best number for that month, says SIAM

Passenger vehicle wholesales clock record 393,074 units in Jan, up by 14%

As per the data issued by the Society of Indian Automobile Manufacturers (SIAM), dispatches of passenger vehicles from manufacturers to dealers stood at 3,46,080 units in January 2023

Mahindra & Mahindra's Q3 result: Profits up 60%, miss expectatios

The 'Scorpio' SUV-maker's standalone profit after tax rose 60.6 per cent to Rs 2,454 cr ($295 million) in the three months to Dec. 31, missing analysts' estimate of Rs 2,512 cr, per LSEG data

Eye on affordability? Tata Motors latest to slash prices of electric cars

Tata Motors slashes prices of Nexon, Tiago EVs by up to Rs 1.2 lakh

Eicher Motors Q3 results: Profit up 34% at Rs 996 cr, beats estimates

The company's profit rose 34.4% to Rs 996 crore ($120 million) in the three months to Dec. 31, beating analysts' estimates of Rs 989 crore, as per LSEG data

Auto components sector growth may ease to 5-7% in FY25, says ICRA

On the EV front, there is significant opportunity. At present, only 30-40 percent of the EV supply chain is localised

In the fast lane: Retail car sales hit a record in Jan on wedding demand

However, concerns persist regarding PV inventory levels, which are now within the 50-55 day range

President, chairman of scandal-hit Daihatsu unit to step down, says Toyota

Daihatsu's chairman, Sunao Matsubayashi, will also step down and not be replaced, Toyota said