Page 11 - Automobile Industry

Bajaj Auto gets mixed reactions from brokerages after muted Q3 results

Despite the strong export performance, the overall Q3 results were seen as somewhat lacklustre, leading to mixed reactions from brokerages

Transport ministry proposes more sops for scrapping vehicles with BS-II

With an aim to get rid of high-polluting vehicles, the transport ministry has proposed to double the rebate up to 50 per cent in one-time tax on purchase of new vehicles after scrapping those with BS-II and earlier emission standards. At present, a discount of 25 per cent in Motor Vehicle tax is provided on purchase of a new vehicle after scrapping old personal vehicles, while the rebate is capped at 15 per cent in case of commercial vehicles. The Ministry of Road Transport and Highways (MoRTH) in a draft notification issued on January 24 said up to 50 per cent discount would be applicable for all vehicles, both commercial and personal, that are BS-I compliant or were manufactured before the BS norms were introduced. According to the draft notification, this discount would be applicable in case BS-II vehicles that fall under medium and heavy private and transport vehicles. The BS-I carbon emission norm for vehicles became mandatory in 2000, while the BS-II came into effect from ...

Demand revival in EMs drives 19% growth in automobile exports in 2024

Automobile exports from India rose 19 per cent year-on-year in 2024 led by a robust dispatch of two-wheelers, passenger vehicles and commercial vehicles, according to SIAM data. Overall shipments rose to 50,98,810 units last year, up 19 per cent from 42,85,809 units exported in 2023. "Last year saw revival in demand for the Indian automobiles from emerging markets like Latin America and Africa," Society of Indian Automobile Manufacturers (SIAM) Director General Rajesh Menon told PTI when asked about reasons for exports growth last year. In 2024, passenger vehicle exports grew 10 per cent to 7,43,976 units as compared to 6,77,956 units in January-December period of 2023. Utility vehicle shipments rose 33 per cent year-on-year to 3,23,621 units while van shipments also jumped 14 per cent annually to 8,207 units. Passenger car dispatches, however, declined 4 per cent last year to 4,12,148 units as compared to 4,27,876 units in 2023. Two-wheeler exports rose 23 per cent to 39,77,162

Pure EV plans Rs 400 cr unit, in talks with Tamil Nadu, Karnataka, others

At present, it has a manufacturing capacity of around 50,000 units. The company sold around 12,800 vehicles in 2024 and expects this to reach 25,000 units in calendar year (CY) 2025

Tata Sierra Petrol makes its debut at the Bharat Mobility Global Expo

The Tata Sierra showcased at the auto show was the near-production model and will come with a new 1.5-litre Hyperion turbo petrol engine

Budget 2025: e2W makers call for GST rate cuts, relook at PM E-DRIVE plan

Industry stakeholders have also highlighted the need for consistent policy support and investments in skill development to ensure the sector's long-term sustainability

Multiple launches prove EVs sole alternative for decarbonisation: Merc

About 99,165 electric cars were sold in India in 2024, recording 20 per cent year-on-year growth, according to FADA

India's auto sector at crossroads: Adapting to EVs and global competition

The auto-component sector must also be given time to evolve, through the creation of alternative ecosystems

Long-term perspective on tax structure to aid product development: Skoda

A long-term perspective on tax structure for different automotive technologies in India would aid the industry in product development which takes a lot of time and investment, according to Skoda Auto India Volkswagen MD and CEO Piyush Arora. Skoda Auto Volkswagen India Pvt Ltd (SAVWIPL) oversees the India operations of five Volkswagen Group brands - Skoda, Volkswagen, Audi, Porsche and Lamborghini. In an interaction with PTI, Arora said the government is taking steps in terms of both demand creation and tax structure standpoints to promote electric mobility. "From our point of view, a long-term vision on how the tax structures would be there for different technologies would be helpful for the industry because product development cycles are extremely long and there is also high amount of investment which goes into it. So if we have a longer perspective in terms of duties it would help," he stated. He was replying to a query regarding the industry wishlist in the upcoming Union ...

Indian mobility market set to double by 2030, exceeding $600 bn: Report

The Indian mobility industry is expected to double and surpass USD 600 billion by 2030, a report by Google and Boston Consulting Group said on Saturday. According to the Think Mobility Report, emerging revenue pools such as electric, shared, and connected mobility are poised to contribute USD 100 billion to the total market by 2030 while a majority of the revenue will come from classic revenue pools comprising classic components, sale of new ICE (internal combustion engine) vehicles, finance and insurance etc. "The Indian mobility industry is charting its unique course, poised to double and cross USD 600 billion by 2030," the report said. Share of four-wheeler (4W) electric vehicles (EV) is expected to grow in the range of 15-17 per cent by FY'30 from 2.2 per cent in FY'24 while 2-wheeler (2W) EV share is estimated to grow to 35-40 per cent from 5.4 per cent during the reported period. Around 51 per cent of respondents in the study, expressed concern on non-availability of EV charg

China's BYD launches Sealion 7 EV in India, deliveries to begin in March

The company did not give details of pricing as it started accepting bookings for the vehicle at the Bharat Mobility Global Expo 2025 in New Delhi

India's automobile industry will be number one in next 5 years: Gadkari

India's automobile industry will be number one in the world in the next five years, Union Minister Nitin Gadkari said on Saturday, highlighting that the industry has created 4.5 crore jobs till now, the highest in the country. Addressing a Federation of Automobile Dealers Association (FADA) event, the road transport and highways minister further said demand of Indian automobile products is very high globally. "The size of Indian automobile industry is now Rs 22 lakh crore. I am confident that within five years, the Indian automobile industry will be number one in the world," he said. Presently, size of the US automobile industry is Rs 78 lakh crore, followed by China (Rs 47 lakh crore) and India (Rs 22 lakh crore). Gadkari further said when he took charge of the transport ministry in 2014, the size of the automobile industry was Rs 7.5 lakh crore and today its size is Rs 22 lakh crore. According to the minister, the automobile industry has created 4.5 crore jobs till now -- the .

Porsche drives in all-new electric SUV Macan; updates Taycan sport saloon

German luxury sports car maker Porsche on Friday launched its all-new electric SUV Macan and updated Taycan sport saloon in the Indian market. The company's arm Porsche India, which posted record sales of 1,006 vehicles in 2024, is looking to build on it further through new products and expanded network this year, Porsche India Brand Director Manolito Vujicic said here at the Auto Expo, held as part of the Bharat Mobility Global Expo 2025. The new Macan BEV is now available across three model variants priced between Rs 1.22 crore and Rs 1.69 crore, the company said. On the other hand, the new Taycan is available initially in trims priced at Rs 1.89 crore and Rs 2.53 crore. Vujicic said the company is expanding its presence in India to 13 cities by the end of this year. It is currently present in 10 Indian cities. "With Pune and Hyderabad operations having commenced last year, we are committed to maintaining this momentum through 2025, with new Porsche Centres in Indore, Jaipur, an

MG M9 MPV debuts at Bharat Mobility Expo, launch set for March 2025

The MG M9, a premium electric seven-seater MPV, will be the second model sold through MG Select premium dealerships, launching in March 2025

India's share in global mobility supply chains growing: Piyush Goyal

India's share in the global mobility supply chains is increasing due to the sector's cost-competitiveness and focus on product quality, Commerce and Industry Minister Piyush Goyal said on Friday. Speaking at the Bharat Mobility Global Expo 2025 here, he said by the next year this expo will become the biggest auto show in the world and will emerge as the one-stop destination for the automobile sector for the world. At present, it is the second-largest automotive expo in the world. The expo, he said, will serve as a call to action for global partnerships, inviting international investors to tap into India's growing consumer base and business-friendly ecosystem. "Innovation and sustainability have become the focus of the mobility sector and India's share in the mobility global supply chains is also increasing. India's mobility sector is cost-competitive and is also focussing on product quality," he said. Goyal also said that electric vehicles are shaping the mobility sector and India

PM Modi inaugurates Bharat Mobility Global Expo; over 100 launches expected

Prime Minister Narendra Modi on Friday inaugurated the Bharat Mobility Global Expo 2025, the largest mobility expo in India, which is expected to witness over 100 new launches across automobiles, component products and technologies. The five-day expo is being held across three venues: Bharat Mandapam and Yashobhoomi in the national capital and India Expo Center and Mart, Greater Noida. Modi inaugurated the Expo at Bharat Mandapam in presence of Union ministers Nitin Gadkari, H D Kumaraswamy, Jitan Ram Manjhi, Manohar Lal, Piyush Goyal and Hardeep Singh Puri, and leaders of the automobile sectors. The Bharat Mobility Global Expo 2025, scheduled from January 17-22, will bring the entire value chain of the mobility ecosystem -- from automobile manufacturers to components, electronics parts, tyre and energy storage makers, and automotive software firms and material recyclers -- under a single umbrella. With a theme "Beyond Boundaries: Co-creating Future Automotive Value Chain", aiming

Minda Corp: Partnership with Flash Electronics bodes well for EV expansion

Minda Corp share: Minda Corp share price has surged 9.1 per cent in two days as against a 1.1 per cent rise in the benchmark BSE Sensex index.

Automobile dispatches grow 12% in 2024 driven by consumer sentiment: Siam

Automobile dispatches from companies to dealers rose 12 per cent last year compared to 2023 on the back of positive consumer sentiments which aided robust demand for two-wheelers, industry body SIAM said on Tuesday. Total wholesales across categories rose to 2,54,98,763 units in 2024 against 2,28,39,130 units in 2023, a growth of 11.6 per cent. "2024 has been reasonably good for the auto industry. Positive consumer sentiments and the country's macroeconomic stability helped in propelling reasonable growth for the sector across vehicle segments," Society of Indian Automobile Manufacturers (SIAM) President Shailesh Chandra said in a statement. Last year, the growth was primarily driven by the two-wheeler segment which grew by 14.5 per cent in 2024 over a year ago, he added. Dispatches of scooters, bikes and models rose by 14.5 per cent to 1,95,43,093 units in 2024 compared to 1,70,75,432 units a year ago, the statement said. Scooter sales rose 20 per cent year-on-year to 66,75,231 u

Tesla recalls around 239,000 vehicles over rear-view camera issue

Tesla said it was investigating to determine whether any affected vehicles have experienced stress that could result in a shorting failure

Volatile currency: Fall in rupee win some, lose some for auto industry

While exporters benefit, import-dependent firms expected to struggle