Page 19 - Automobile Industry

JSW MG to launch 5 cars in next 12 months: CEO Emeritus Rajeev Chaba

MG currently sells five models in India -- Hector, Gloster, Astor, Comet and ZS. The first three are internal combustion engine-run cars while the last two are electric cars

Hybrid cars 'best solution' until non-fossil energy is widespread: Suzuki

EVs, hybrids could have 33 per cent share each in Indian market by 2035: Suzuki

DMRC to add over 1,100 e-autos to its fleet to boost last-mile connectivity

The Delhi Metro Rail Corporation will be adding more than 1,100 e-autos to its existing fleet of electric three-wheelers to further boost last-mile connectivity, an official said on Wednesday. Of the 2,299 e-auto permits -- 1,636 general and 663 women -- allotted to the DMRC by the Transport Department, 1,183 e-autos -- 857 general and 326 women -- have been registered. These e-autos are operating from around 40 DMRC stations that are equipped with charging points and dedicated parking spaces, officials said. "Another 1,116 -- 779 general and 337 women -- e-autos are expected to be registered by the end of August," the DMRC official said. The DMRC has allotted these e-auto permits to its authorised operators at metro stations located in Chhatarpur, Dwarka, Rohini and northwest Delhi. DMRC Managing Director Vikas Kumar told PTI that ensuring last-mile connectivity for commuters is a key issue for the Delhi Metro. The Delhi government recently launched a bus service to enhance last

Refex Green Mobility signs pact with Citroen to procure 500 e-C3 EVs

French automaker Citroen has signed a memorandum of understanding with Refex Green Mobility Ltd, a subsidiary of diversified conglomerate the Refex Group, towards the procurement of 500 Citroen e-C3 electric vehicles. The largest order for Refex Green Mobility Ltd in South India signifies a major advancement in its collaboration with Citroen. "Our partnership with Refex underscores Citroen's commitment to our customers, the reliability of our products and a strong sustainable operation. The Citroen e-C3, with its efficient battery pack, advanced e-powertrain and comprehensive suite of connectivity features, continues to be the preferred choice for businesses transitioning to green mobility," said Citroen India Brand Director Shishir Mishra. "Refex eVeelz (Refex Group's Green mobility vertical) has demonstrated strong growth in the sustainable mobility space and we continue to expect great impact from the company as it expands operations across India," Mishra said. The Citroen e-C3

Bajaj Auto Q1 PAT up 18% at Rs 1,941.79 cr on double digit revenue growth

The revenue from operations grew due to strong vehicle sales, record revenue from spares, and volume expansion across both domestic and export businesses

Automobile retail sales rise 9% in June quarter, PV sales up 2.53%: Fada

Automobile retail sales increased 9 per cent year-on-year in June quarter FY25 with all segments, barring tractors, reporting growth, dealers' body FADA said on Monday. Overall retail sales rose to 61,91,225 units in the April-June period from 56,59,060 units in the same quarter of FY24. Passenger vehicle retails increased 2.53 per cent to 9,20,047 units as against 8,97,361 units a year ago. "Despite strong bookings and customer flow, high competition, excess supply and discounting presented challenges for sustained growth in the PV segment," FADA President Manish Raj Singhania said in a statement. Dealers reported significant impacts from elections, extreme heat and market liquidity issues, he noted. The extreme heat led to 18 per cent drop in showroom walk-ins in May, with inventory levels reaching an all-time high of 62-67 days by the end of June, Singhania said. "Despite improved product availability and substantial discounts aimed at stimulating demand, market sentiment rema

Budget 2024: Fada seeks vehicle depreciation benefits for income tax payers

Automotive dealers body FADA on Friday urged the government to introduce vehicle depreciation benefits for individual taxpayers, saying it will not only expand the taxpayer base but also ignite automobile demand. In its pre-budget wishlist, the Federation of Automobile Dealers Associations (FADA) also asked the finance ministry to reduce corporate tax for LLPs, proprietary, and partnership firms. "We urge the finance ministry to introduce the benefits of claiming depreciation on vehicles for individuals paying income tax," FADA President Manish Raj Singhania said in a statement. Allowing individuals to account for depreciation will not only increase the number of income tax filers but also ignite automobile demand, he reasoned. Singhania also recommended reduction of corporate tax for LLPs, proprietary, and partnership firms. "While the government has already reduced corporate tax to 25 per cent for private limited companies with a turnover of up to Rs 400 crore, extending this ..

Indian auto component industry growth to moderate in FY25, says ICRA

ICRA also expects the industry to invest Rs 20,000-25,000 crore in FY2025 for capacity expansion and technological advancements

Delhi govt raises pollution under control certificate fees after 13 yrs

The revised fees for pollution under control certificates are Rs 80 for two and three-wheelers running on petrol, CNG, or LPG; Rs 110 for four-wheelers and larger vehicles using petrol, CNG, or LPG

Only 19 of 137 Chinese EV brands to be profitable by decade's end

While the average sale price of cars in China fell 13.4% in the past year, the average margin of automakers rose to 7.8% in 2023 from 6.3% the previous year

Mobility players drive 18% of total car sales in FY24, says Deloitte

Mobility sector's growth path set to accelerate to 25% by FY30: Deloitte

TVS Motor unveils Apache RTR 160 Racing Edition, priced at Rs 128,000

Two- and three-wheeler maker TVS Motor Company on Wednesday widened its product portfolio with the launch of its popular motorcycle TVS Apache 2024 RTR 160 Racing Edition at Rs 1.28 lakh (ex-showroom Delhi). Equipped with a host of features, the motorcycle comes with an exclusive matte black colour, red alloy wheels, three ride modes -- sport, urban and rain, digital Liquid Crystal Display (LCD) cluster and LED head and tail lamps, among others. "The TVS Apache series has consistently led the way in innovation, and bringing state-of-the-art technology to enthusiasts. With a robust community of 5.5 million TVS Apache riders worldwide, the launch underscores the company's dedication to delivering aspirational products that reflect TVS Motor's racing heritage and engineering excellence," company head, Business - Premium, Vimal Sumbly said in a press release. "..the all new 2024 TVS Apache RTR 160 Racing Edition is ready to set new standards in its segment, offering unmatched performanc

Mercedes looks to charge up India play, posts 60% rise in battery EV sales

The company launched the EQA 250+ on Monday, priced at Rs 66 lakh, which comes with a range of 497-560 km per charge

Two-wheeler sales expected to sustain steady volume growth in FY25: Report

The two-wheeler industry is expected to sustain a steady volume growth this fiscal driven by improved domestic sales and good traction in executive and premium segment motorcycles, a report said on Monday. According to CareEdge Ratings, post-Covid, sales volume of two-wheelers had consistently declined during FY20, FY21 and FY22 before starting to recover from FY23, with sales momentum continuing in FY24 as well. "CareEdge Ratings anticipates two-wheeler sales volume growth to continue in FY25 and it would be more driven by improved domestic sales, higher EV sales, launch of CNG powered two-wheelers and good traction in executive and premium segment motorcycles," said Hardik Shah, Director at CareEdge Ratings. The growth in the two-wheeler segment in FY25 is also expected to be aided by the likely interest rate cuts in the second half of FY25, strong demand for new model launches coupled with recovery in exports from its low base and favourable monsoon which is likely to improve rur

Truck rentals dip marginally, used truck prices jump in June: Report

Average price of used commercial vehicles saw a considerable rise across categories in June with 31 to 36-ton category

Govt meets auto industry, asks firms to onboard right to repair portal

The Department of Consumer Affairs (DoCA) held a meeting with automobile associations and companies on Saturday to encourage their participation in the newly launched Right to Repair Portal India, aimed at empowering consumers with easier access to product repair information. The meeting, chaired by DoCA Secretary Nidhi Khare, focused on addressing consumer concerns about restricted access to repair tools, high costs, and service delays in the automotive sector, an official statement said. Khare emphasized the need to "democratize repair manuals and videos" and foster a robust ecosystem for third-party repair services. She also suggested introducing a "repairability index" for vehicles to inform consumers about product lifespan and ease of repair. The government portal (https://righttorepairindia.gov.in/) seeks to provide consumers with information to repair their products, contributing to a circular economy and reducing e-waste. Key points discussed in the meeting include: making

Auto retail sales up marginally in June amid heatwaves: Dealer association

Inventory levels in passenger vehicles reach record high, ranging from 62 to 67 days

Retail sales of cars fall in June for 2nd straight month, PV sales dip 6.8%

India's auto industry forms 7% of the country's GDP, according to government data

Nissan, Honda mull partnering on software, charging infrastructure

Both Japanese automakers have been hit hard in key market China by consumers' shift to low-priced, software-loaded EVs produced by Chinese brands such as BYD

BMW India posts highest ever sales at 7,098 units during first half of 2024

BMW Group India on Tuesday said it has reported the highest ever sales in the country in the first half of the year with delivery of 7,098 units to customers. The luxury carmaker saw its sales increase 21 per cent year-on-year from 5,867 units in the January-June period of 2023. The company also sold 3,614 BMW Motorrad motorcycles during the period. BMW Group said high demand for its sports activity vehicles, luxury class and electric cars led to robust sales performance during the period under review. "In 2024, BMW Group India is making great strides in implementing its strategy by achieving new heights in business performance and customer delight," BMW Group India President Vikram Pawah said in a statement. The company has accomplished the highest ever half-yearly car sales and continuously maintained leadership in the luxury electric car segment, he added.