Page 32 - Automobile Industry

Consumers moved away from diesel vehicles in 2023; EV, hybrid sales rise

SUVs, on the other hand, are likely to grow up to 54-55 per cent from a current level of 48.7 per cent. It has already grown from 42 per cent in 2022 to nearly 49 per cent in 2023

TVS Motor Company posts 25% jump in sales at 301,898 units in Dec

TVS Motor Company on Monday reported a 25 per cent rise in total dispatches at 3,01,898 units in December 2023. The company had sold a total of 2,42,012 units in December 2022, TVS Motor Company said in a statement. Two-wheelers sales were at 2,90,064 units in December 2023 as compared to 2,27,666 units in the same month last year, up 27 per cent, it added. Domestic two-wheeler sales grew by 33 per cent at 2,14,988 units in December 2023 as against 1,61,369 units in December 2022. Motorcycle sales rose by 19 per cent to 1,48,049 units last month as compared to 1,24,705 units in December 2022, while scooter clocked sales of 1,03,167 units as against 76,766 units in the year-ago month, a growth of 34 per cent. TVS Motor Co said it sold 11,232 units of iQube electric scooter in December 2023 as against sales of 11,071 units in the same month last year. Three-wheeler sales were at 11,834 units last month as compared to 14,346 units in December 2022, it added. Total exports were at

PV sales touch record high in 2023 at 4.1 mn, SUVs continue strong growth

Passenger vehicle sales in India touched a record high of 41.08 lakh units in 2023, growing by 8.3 per cent over the previous year driven by SUVs, which accounted for almost half of the total dispatches from manufacturers to dealers. The record sales have been achieved despite an increase in the average price of vehicles to Rs 11.5 lakh last year as compared to Rs 10.58 lakh in 2022. Market leader Maruti Suzuki, Hyundai Motor India, Tata Motors and Toyota Kirloskar Motor reported their best-ever annual sales in 2023. "If you look at January to December 2023, wholesales crossed 41.08 lakh. This is the first time the industry has ever crossed the 4 million mark. That, I think is a huge milestone in the history of the Indian passenger vehicles (PV) industry," Maruti Suzuki India Senior Executive Officer (Marketing and Sales) Shashank Srivastava told reporters in a call. He further said, "This is against wholesales of 37.92 lakh units for the calendar year 2022. Therefore, there is a .

Honda Cars India domestic sales rise 12% to 7,902 units in December

Honda Cars India Ltd on Monday reported a 12 per cent rise in domestic sales at 7,902 units in December as compared to 7,062 units units in the same month a year ago. Exports stood at 3,749 units last month as against 1,388 units in December 2022, Honda Cars India Ltd (HCIL) said in a statement. "The sales momentum in December has been extremely positive for us in both factory despatches and retail as our network maximised the deliveries for the new SUV Elevate to our customers," HCIL Director, Marketing and Sales, Yuichi Murata, said. He said the company is looking forward to 2024 "with tremendous positivity and optimism" with strong sales momentum and growing market potential, backed by a robust business plan.

Car dealers face inventory accumulation of 650,000 to begin new year

"We saw the best of records every month. We are entering 2024 on a high note for the industry. The fourth quarter of the financial year is always expected to be good," said Singhania

Year ender 2023: Top auto launches of the year and what to expect in 2024

In 2023, Maruti Suzuki launched the Baleno-based crossover, Fronx, Brezza's facelift, and an all-new Grand Vitara in the SUV space and grabbed more than 50% share of the segment

Japan automakers to invest $4.3 bn in Thailand over 5 years: Thai govt

Toyota Motor and Honda Motor will invest about 50 billion baht each, while Isuzu Motors will invest 30 billion baht and Mitsubishi Motors 20 billion baht, spokesperson Chai Wacharoke said

After an impressive festive season, car sales likely to cool down in Dec

December is usually marked with weaker sales as customers tend to wait for the new year to get the newest cars with the changed model year

Tata Curvv to Harrier EV: Here are cars Tata Motors will launch in 2024

Tata Motors will add two more electric cars to its portfolio, along with a facelift variant of Altroz

Tata Motors expects best sales in 2024 on back of fresh portfolio

Automaker plans to have 10 EV models by 2026 including the upcoming Harrier EV and Punch EV: MD Shailesh Chandra

Toyota's Daihatsu to halt all vehicle shipments, in widening safety scandal

Toyota Motor's Daihatsu unit will halt shipments of all of its vehicles, Japan's biggest automaker said on Wednesday, after a safety scandal investigation found issues involving 64 models

Ford Motor cancels deal to sell its Tamil Nadu plant to JSW Group

The JSW Group had finalised an agreement to buy the Ford plant for around $100 million, but Ford called off the deal as it is no longer looking to sell the factory

More than 800k EVs registered between June and December 2023; up 19% YoY

In order to increase the sale of EVs in India, the Centre notified Phase-II of FAME India Scheme for a period of five years, effective April 2019 with a total budgetary support of Rs 10,000 crore

India needs 1,000 scrapping centres, 400 fitness test points: Gadkari

Union Road Transport and Highways Minister Nitin Gadkari on Monday said the country needs 1,000 vehicle scrapping centres and 400 automated fitness test centres. Launching DigiELV', Gadkari said the road ministry has so far approved 85 vehicle scrapping facilities across the country. "We need 1,000 vehicle scrapping centres in the country and at least 400 automated fitness test centres," he said. DigiELV is a trading platform for End of Life Vehicle Certificate of Deposit. Anyone who currently owns a Certificate of Deposit (CD) can sell the CD through the platform. A CD is issued when a user submits a vehicle for scrapping at an RVSF. Noting that the National Vehicle Scrappage Policy is a win-win for all stakeholders, the minister said that India can be a scrapping hub in South Asia. "Circular economy is very important and it is going to create jobs in the country," Gadkari said. Prime Minister Narendra Modi launched the National Vehicle Scrappage Policy in August 2021 and said i

Royal Enfield faces fresh challenge from Harley in India's biker paradise

Like Triumph, US giant Harley-Davidson Inc. is also renewing efforts in India, where Royal Enfield is revered to a similar extent as Harley is in the US

Audi, ChargeZone inaugurate ultra-fast charging station in Mumbai

German luxury car manufacturer Audi on Thursday inaugurated an ultra-fast charging station, conceptualised and developed in collaboration with ChargeZone, in Bandra Kurla Complex (BKC) here. Claiming to be India's first ultra-fast charging station, it has a total capacity of 450 KW, which delivers 360 KW of power to an electric vehicle, Audi India said in a statement. Currently, Audi India has the luxury EV portfolio with six electric cars -- ?Q8 50 e-tron, Q8 55 e-tron, Q8 Sportback 50 e-tron, Q8 Sportback 55 e-tron, e-tron GT and RS e-tron GT -- in India. According to the company, this charger can charge Audi Q8 55 e-tron with a 114 KWH battery from 20 per cent to 80 per cent in just 26 minutes. "The inauguration of India's first, ultra-fast charging station by Audi India is a significant milestone in our ongoing efforts to develop a comprehensive electric vehicle ecosystem for our valued customers," Balbir Singh Dhillon, Head of Audi India, said. The company said its e-tron ...

40 years of Maruti 800: Jairam Ramesh recalls contribution of Indira, Rajiv

Senior Congress leader Jairam Ramesh on Thursday recalled the launch of people's car Maruti 800 40 years ago, and said Indira Gandhi and Rajiv Gandhi played a quiet but hugely effective role in the background. Former environment minister Ramesh also said that while celebrating Maruti-Suzuki and its multiple impacts, let us also pause and worry a bit from the inequality and climate change point of view that more than 50 per cent of car sales are now of SUVs. In a post on X, Ramesh said, "Today 40 years ago, the consumer revolution overtook India and its engineering industry got transformed. The Maruti 800, the people's car was launched and the nation recalls Indira Gandhi and Rajiv Gandhi, who played a quiet but hugely effective role in the background." It is also important to recall O Suzuki and V Krishnamurthy who made the landmark Suzuki-Maruti joint venture possible, he noted. Krishnamurthy had earlier built BHEL and was to later turn around SAIL, Ramesh pointed out. "One of th

Mahindra and Mahindra, others to invest Rs 875 crore in two-wheeler unit

The 'Scorpio' car manufacturer, will invest 5.25 billion and the remaining will come from existing shareholders and new investors, Mahindra said in an exchange filing

Tata Motors reports highest-ever monthly retail sales in November

Tata Motors recorded its highest-ever monthly retail sales in November on the back of robust demand for its sports utility vehicles amid the festive period, according to a top company official. In an interaction with PTI, Tata Motors Passenger Vehicles Managing Director Shailesh Chandra said the automaker retailed around 53,000 units in November, which was 8 per cent higher as compared to October this year and 30 per cent up as compared to sales in November 2022. The company also witnessed strong sales performance in the 47 days long festive period this year with registrations of around 79,374 units, up 18 per cent over the same period of last year. "We had a very strong festive season, which I would attribute mainly to the newly launched facelifted Nexon, Harrier, Safari and the iCNG range. And therefore, our VAHAN registrations, or real sale as we call it, was the highest ever in our history," Chandra said. He noted that the passenger vehicle segment is set to record its best eve

JSW Group, China's SAIC Motor begin negotiations on royalty fees

China's largest auto firm keen to get higher royalty fee; JSW group wants to go with industry benchmark