Page 26 - Auto Industry

Ola Electric receives Sebi approval for IPO; looks to raise Rs 5,500 crore

Ola Electric IPO: The the first public offering by an EV startup in India includes an offer-for-sale component of 95.2 million shares

Auto industry grows 19% to Rs 10.22 trn in FY24 over robust growth in SUV

The Indian automobile industry grew 19 per cent to Rs 10.22 lakh crore in FY24 driven by a robust growth in the utility and sports utility vehicle (SUV) segment, a report said on Wednesday. The volume grew by 10 per cent during the year, the report by management consulting firm Primus Partners said. A notable shift in the UV and SUV segment was that the volume increased by 23 per cent and price by 16 per cent leading to overall value increase by 39 per cent last fiscal year. The average price increase in this segment was due to general rise in prices, shift to higher segment, shift to hybrid and automatic, popularity of sunroof and shift to electric vehicles (EVs), it said. Indians are preferring higher, more expensive models across segments, and the average price of vehicles is increasing, as per the report. "India is at the forefront in leading the global automobile race, bypassing lower-priced products and creating more value in feature-rich, higher-priced vehicles. Consumer ..

Eye on the green future, auto companies line up over Rs 2 trillion

Last week Tata Motors, the country's market leader in electric vehicles (EVs), said it was planning to spend Rs 16,000-18,000 crore as capital expenditure on its EV arm till FY30

Slowdown in EV sales steers the world further off course from net zero

The outlook for fully electric vehicles has markedly deteriorated in the past year. BNEF began the 2023 edition of its EV Outlook by highlighting the profound transformation

Charged-up: Bengaluru takes top spot in electric car registrations

Bengaluru is enthusiastically embracing not just electric cars, but electric two-wheelers also

LS polls, extreme heat drag passenger vehicle sales down by 1% in May

"Despite better supply, some pending bookings and discount schemes, the lack of new models, intense competition and poor marketing efforts by OEMs affected sales

Retail car sales drop in May as LS polls, weather delay purchases: Fada

Sales growth in two-wheelers slowed to 2.6 per cent in May from 33 per cent in April, said the FADA, which tracks monthly retail sales from dealers to buyers

NDA's third term to intensify commitment to green mobility initiatives

Under Modi's first government, electric vehicles (EVs) were propelled into the mainstream through FAME

Hero MotoCorp's growth mileage: Rural recovery to power market share ride

To fuel its engine with a triple blend of rural focus, electric innovation, and a new product cycle

Expect commercial vehicle volumes to witness 4-7% dip this fiscal: ICRA

Hit by a high base of last year and weakness in demand, the domestic commercial vehicle industry is expected to witness a dip of 4-7 per cent in wholesale volumes in the current fiscal as compared to FY23, rating agency Icra said on Friday. The medium and heavy commercial vehicle (trucks) volumes are expected to contract by 4-7 per cent year-on-year given the high base effect and the impact of the Lok Sabha polls on infrastructure activities in the first few months. Similarly, the volume of light commercial vehicles (trucks) wholesale volumes is likely to decline by 5-8 per cent in FY2025 due to factors such as a high base effect, sustained slowdown in e-commerce, and cannibalisation from electric three-wheelers, Icra said. The rating agency expects the domestic CV industry's uptrend to be arrested in FY2025, with a decline of 4-7 per cent in wholesale volumes, it stated. This follows a muted year-on-year growth of 1 per cent and 3 per cent for wholesale and retail sales, ...

Maruti Suzuki set to invest Rs 450 crore for renewable energy projects

As part of its renewable energy strategy, Maruti Suzuki India has initiated operations at a biogas facility within its Manesar plant in Haryana, using its food waste and Napier grass

BluSmart launches 100% all-electric premium limousine service in UAE

Ride-hailing app said that its chauffeur-driven luxury service in Dubai will commence with a premium Audi e-tron car fleet

FAME must include tractors and LCVs: TII's exec chairman Arun Murugappan

Murugappan discusses the EV road map, semiconductor plans, and the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India III (FAME III) wish list

PMI Electro Mobility faces subsidy fraud allegations under FAME scheme

The Ministry of Heavy Industries has now formed a team for a second probe into the allegations against PMI Electro

European auto company Skoda-VW hits 1.5 million output mark in India

30% of the Group's India production is exported

BluSmart launches BluSmart Charge app, opens EV charging service to public

Alongside the charge app launch, BluSmart also expanded its charging infrastructure network and achieved a significant milestone by opening its 50th EV charging hub

Expect sales to grow faster than industry this fiscal: JLR India official

Tata Motors owned Jaguar Land Rover expects to grow faster than the luxury car segment this fiscal, as it bolsters localisation and expands product range, according to a top company executive. The company, which is set to commence local assembly of Range Rover and Range Rover Sport in India, witnessed a sales growth of 81 per cent in 2023-24 fiscal year at 4,436 units, as compared to FY23. The automaker aims to double its business in India over the next three years. "The luxury car segment grew in the range of 20-25 per cent last fiscal. We expect that the growth rate will remain in this range for the next couple of years. And we anticipate to beat this growth rate," Jaguar Land Rover (JLR) Managing Director Rajan Amba told PTI in an interaction. Initiatives like enhanced localisation of products, which would lead to reduction in prices and expansion of sales network in the country would help the company in growing faster than the industry, he added. Citing reports, Amba noted tha

Mahindra Scorpio N Adventure edition rolled out in South African market

The off-road-ready Mahindra Scorpio N Adventure edition has been launched in South Africa. However, there are no reports of Mahindra bringing it to India

Large order book, EV demand drive auto parts maker Sona BLW growth

Company gains market share in its top three markets of North America, India, EU

Tata Motors to invest Rs 43,000 crore in products and technologies in FY25

Analysts expect JLR margins to remain stable