Page 19 - Auto Sector

Electric vehicle penetration likely to fall short of govt's 2030 plan

Subsidy reduction has hit industry's estimate of 1.2 mn E2W sales in FY24

No such thing as EVs vs hybrids, both sister tech: Toyota EVP Gulati

Development of more hybrid cars to assist in lowering EV development costs

Govt extends PLI scheme for auto sector by a year with 'partial amendments'

The Ministry of Heavy Industries on Monday announced the extension of the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components by one year with "partial amendments". This decision has been made after receiving the approval of the Empowered Group of Secretaries (EGoS). "In pursuance of the approval of EGoS, the Ministry of Heavy Industries has made partial amendments in the Production Linked Incentive (PLI) Scheme for the Automobile and Auto Component Industry and Guidelines of the Scheme. These amendments, effective from the date of publication in the Official Gazette, aim to provide clarity and flexibility to the scheme," an official statement said. Under the amended scheme, the incentive will be applicable for a total of five consecutive financial years, starting from the financial year 2023-24. The disbursement of the incentive will take place in the following financial year 2024-25. The scheme also specifies that an approved applicant will be eligible for

Deadline nearing, 70% of FAME target met, 1.22 mn vehicles supported so far

The target is for more than 1.74 million electric vehicles

Maruti Suzuki's total sales dip in December; exports in 2023 all-time-high

Despite the dip in December, Maruti Suzuki's compact segment continues to have the highest share in its total sales followed by utility vehicles and vans

Almost normal: Consumer sentiment soared to near pre-pandemic levels in Nov

The World Bank reported that over 80 million Indians made their first digital transaction after the pandemic

High smallcap valuations, temper return expectations: Kotak MF CIO

In an email interaction with Abhishek Kumar, Upadhyaya says domestic-facing sectors like automotive, cement, and construction are a better bet right now as global uncertainties prevail

Honda to recall 2.5 million US vehicles over risks of fuel pump failure

To address the issue, dealers will replace the fuel pump module, free of charge, the NHTSA said

Electric cars expected to see volume growth of 30-40% in 2024: Chandra

He said that more electric car models at different price points -- between Rs 8 lakhs and Rs 30 lakhs -- have to come in the Indian market so that people have more options

Auto sector to take a V-turn in FY25 on election winds, new models

Luxury car segment will continue to rise its EV penetration. However, the tipping point is still a few years away. Customers require convincing on ownership benefits and hassle-free experience

Auto component industry's total sales grow 12.6% in first half of FY24

Sales jumped by 34.8 per cent Y-o-Y to $33.9 billion

Gujarat attracting big investments since automobile sector took off in 2009

Gujarat's automobile sector took off in 2009 when Tata Motors set up its Nano manufacturing plant in Sanand, about 50 km from Ahmedabad, and the state has been attracting some big ticket investments from both domestic and international players since then. Now, with the global shift tending towards electric mobility, the Gujarat government seeks to position itself as a leading electric vehicles (EV) manufacturing hub. To this effect, it signed an MoU with the Tata Group worth Rs 13,000 crore in June this year. The 10th edition of the Vibrant Gujarat Global Summit will be held from Jan 10 to 12, 2024 in Gandhinagar. The biennial summit serves as a platform for businesses and governments to explore investment opportunities and establish partnerships. Experts believe that future-ready infrastructure such as the Dholera Special Investment Region and the Delhi-Mumbai industrial corridor are bound to change the state's outlook in the auto sector. Ratan Tata, former chairperson of the Ta

The new @UTO Motto: Why makers of 2-wheelers, cars are embracing ecommerce

Dealerships remain the primary point of sale, but this is a fast-evolving scenario, catalysed by both Amazon as well as Flipkart introducing the auto category last year

Luxury carmaker Lamborghini's Revuelto sold out in India, globally for 2026

The strong demand for Revuelto is being driven by a growing number of new customers, including a 20 per cent increase in first-time buyers in India

Higher production, festival season drive domestic car sales in November

Companies like MSIL and Tata Motors have announced price increases from January 1

Hinduja's Ashok Leyland witnesses 3% decline in total sales in November

Hinduja Group flagship company Ashok Leyland has witnessed a 3 per cent decline in its sales in domestic and overseas markets by selling 14,053 units in November, the company said on Friday. The city-based commercial vehicle maker sold 14,561 units during the corresponding month of last year. Sales of medium and heavy commercial vehicles slipped by 10 per cent in domestic and overseas registering 8,500 units in November 2023, as against 9,474 units sold in the same month of last year. However, the total number of light commercial vehicles sold in domestic and overseas grew by 9 per cent to 5,553 in November this year from 5,087 units sold in November 2022. The cumulative sales till November 2023 rose by 7 per cent, to 1,22,092 from 1,14,370 units sold in the same month of last year. The cumulative sales of medium and heavy commercial vehicles as of November grew by 8 per cent to 76,936 units as compared to 71,356 units sold in the same month of last year. Light commercial vehicl

Tariff tussle: UK delegation reaches out to Siam to quell FTA doubts

Holds meets with industry representatives; agreement at advanced stage

From Bajaj to TVS, two-wheeler makers hit full throttle on growth prospects

While demand woes continued to plague the export market, growth was largely on the back of domestic demand

Low-paid, migrant workers more prone to injuries in automobile sector

The report Crushed 2023 is the fifth annual study on the state of worker safety in the Indian auto sector

Carmakers shift into overdrive with extended festival season deals

An industry source added that the sector is fearing lower sales in November and December