Page 12 - Automobile Industry

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

China's auto exports may be slow in 2025, EV shipments to face zero growth

The outstanding growth in China in a largely stalling global EV landscape bode well for local leaders such as BYD , Geely and Xiaomi

More than 40 new product launches expected at upcoming auto expo, says govt

More than 40 new product launches are expected at the upcoming Auto Expo which will be held under the umbrella of Bharat Mobility Global Expo 2025 from January 17-22, a government official said on Tuesday. With visas continuing to be an issue, large scale participation of Chinese companies are unlikely although some of them are participating at the expo, Joint Secretary at Ministry of Commerce and Industry Vimal Anand said here at the sidelines of curtain raiser of 'Bharat Battery Show' which will also be a part of the Bharat Mobility Global Expo 2025. "Last year the mobility show was only held at Bharat Mandapam, but this year, we have multiplied it by three times and we are going to organise it at not only Bharat Mandapam, but also at Yashobhoomi (India International Convention Centre, Dwarka) and India Expo Centre & Mart, Greater Noida," he said. The auto show will be the main attraction, and along with automobiles other segments related to the sector, including battery show ...

MHI backs SIAM proposal for reducing GST on CNG-powered two wheelers

Ministry of Petroleum and Natural Gas (MoPNG) along with other key ministries also endorse the proposal

Citi initiates coverage with 'Buy' on Hyundai Motor India; share up 3%

The rise in Hyundai India share came after global brokerage firm Citi Research initiated coverage with 'Buy' for target price of Rs 2,250

Auto component companies focus on new markets, products as growth slows

According to a recent CRISIL report, while replacement demand will provide some support, export growth is expected to taper compared to the previous year

Auto majors end 2024 with positive sales growth driven by new launches

Riding on the back of new launches, major carmakers reported positive sales growth in Calendar Year 2024

Automotive leasing in India to account for 8% of sales in 5-8 yrs: ORIX

Mobility solutions and financial services provider ORIX Corporation India Ltd expects automobile leasing market in India to account for 7-8 per cent of the overall vehicle sales in the next 5-7 years, up from about 2 per cent currently with more younger people joining the workforce, its Managing Director and CEO Vivek Wadhera. With good traction in its business, the company expects 30-35 per cent higher profit this fiscal year compared to the last year, Wadhera told PTI in an interaction. "If you compare the Indian market to the western market, the overall leasing market in India is 1-2 per cent of the total number of automobiles sold," he said when asked how the automobile leasing market has been developing in the country. In 2024, passenger vehicle sales in India stood at 43 lakh units as per industry estimates. In the western market such as the US, or even Japan or China, the same percentage is 30-40 per cent, he added. There many customers don't buy vehicles but "Indians still