Page 49 - Automobile Industry

Passenger vehicle wholesales rise 28 per cent in Nov on robust demand

Passenger vehicle wholesales in India rose 28 per cent year-on-year in November, aided by robust demand for both utility vehicles and cars, industry body Society of Indian Automobile Manufacturers said on Tuesday. Overall passenger vehicles dispatched from companies to dealers stood at 2,76,231 units last month as compared to 2,15,626 units in November 2021. Utility vehicle wholesales rose 32 per cent to 1,38,780 units in November against 1,05,091 units in the year-ago period. Similarly, passenger car dispatches increased 29 per cent to 1,30,142 units from 1,00,906 units in November 2021. Van sales, however, dropped to 7,309 units last month from 9,629 units in November 2021. "Positive consumer and business sentiments have reflected in the better sales in the month of November 2022, compared to the previous year," Society of Indian Automobile Manufacturers (SIAM) President Vinod Aggarwal said in a statement. There is a sequential decline in wholesales over October 2022 attributab

Will ICE 2-wheelers really fall off a cliff as Ola's Bhavish Aggarwal says?

Perhaps the more realistic scenario is also the more appropriate metaphor, writes Suveen Sinha

Bharat Forge: Diversification, lower input costs should reap benefits

Bharat Forge is the largest exporter in forgings components globally, with around 60 global customers and about 68 per cent of its revenue from exports

Stellantis to shut key Jeep Cherokee plant in US, lay off 1,200 in EV era

Stellantis said that the plant, which produces the Jeep Cherokee SUV, will cease production as of February 28

Rising gas prices constrain CNG penetration in commercial vehicles: Icra

Rising gas prices have constrained CNG penetration in commercial vehicles to 9-10 per cent in the current fiscal from peaks of 16 per cent, Icra Ratings said on Friday. A spurt in global energy prices has led to a 70 per cent jump in the price of CNG in the last one year. This has narrowed the gap between the fuel and diesel, blurring the incentive to shift to the cleaner fuel. In a statement, the rating agency said CNG penetration in the domestic commercial vehicle (CV) sector has witnessed a decline in the current fiscal, especially in the MCV truck segment. "Rising CNG prices have narrowed the gap with diesel and in turn, diminished the running cost savings from CNG vehicles, which has been the key deterrent," it said. Notwithstanding the recent decline witnessed in CNG penetration, medium-term prospects remain favourable given the improving CNG fuelling infrastructure and push for cleaner vehicles, it added. Icra said CV industry has witnessed a contraction in the penetration

Ather Energy, Greaves Cotton exit EV association SMEV, choose Siam

SMEV was set up primarily for electric two-wheeler players and start-ups in this space. Its membership restricts the entry of companies that have ICE operations and use petrol

TaMo, M&M: Price rise unlikely to put auto stocks in top gear, charts show

Automobile stocks like Tata Motor, M&M, HeroMoto Corp, and TVS motors need to cross significant hurdle to rally further

Maruti Suzuki recalls 9,125 vehicles to fix possible defects in seat belts

Maruti Suzuki India on Tuesday said it is recalling 9,125 units of its models Ciaz, Brezza, Ertiga, XL6 and Grand Vitara to fix possible defects in a part of the front row seat belts. The affected vehicles were manufactured between November 2-28, 2022, Maruti Suzuki India said in a regulatory filing. "It is suspected that there is a possible defect in one of the child parts of shoulder height adjuster assembly of front row seat belts, which in a rare case, may lead to seat belt disassembly," it said. The company said it has decided to recall the suspected vehicles for inspection and replacement of the faulty part, free of cost. "Affected vehicle owners will be receiving communication from the company's authorised workshops for immediate attention," it said.

Kia India records 69% increase in total sales at 24,025 units in Nov

Kia India on Thursday reported a 69 per cent rise in total sales at 24,025 units in November this year. The company had sold 14,214 units in the same month last year, Kia India said in a statement. Flagship SUV Seltos led the sales with 9,284 vehicles with Sonet, Carens, and the Carnival recorded sales of 7,834, 6,360 and 419 units, respectively last month, it added. Kia India said it also delivered 128 units of EV6 in the domestic market, taking the total EV6 deliveries to 296 units. The company has been able to post healthy sales figures throughout this year due to improved customer sentiment and pent-up demand, Kia India Vice President and Head of Sales & Marketing Hardeep Singh Brar said. The commencement of the third shift at the company's Anantapur Plant earlier this year and gradually improving supply chain has also helped streamline the delivery period and meet customer expectations, he added. "However, we will remain observant of dynamic market conditions," Brar added.

Skoda India reports two-fold increase in November sales at 4,433 units

Skoda Auto India on Thursday reported two-fold increase in sales for November 2022 at 4,433 units. The company had sold 2,196 units in the same month last year. "We have doubled our annual sales this year, over 2021, with a big month of December still to go," Skoda Auto India Brand Director Petr Solc said in a statement. Cumulatively, from January to November 2022, the automaker sold 48,933 units, which is more than double of the 23,858 cars sold in 2021.

Bajaj Auto total sales in November decline 19% YoY to 306,552 units

Bajaj Auto on Thursday reported a 19 per cent decline in total sales at 3,06,552 units in November, compared to 3,79,276 units in the same month a year ago. Total sales in the domestic market stood at 1,52,716, down 4 per cent from 1,58,755 units in the same month last year, the company said in a regulatory filing. Bajaj Auto said its exports last month were down 30 per cent at 1,53,836 units, as against 2,20,521 units in the same month last year.

Vikram Kirloskar remade Indian manufacturing; his legacy is everlasting

Vikram Kirloskar, vice chairperson of Toyota Kirloskar Motor, passed away at age 64 on Tuesday

Toyota Kirloskar Motor Vice Chairman Vikram Kirloskar passes away at 64

Vikram Kirloskar, a pioneer of India's automotive industry, played a key role in bringing Japan's Toyota Motor Corp to India in the late 1990s

Ola Electric on track to open 200 experience centres by end of 2022

The experience centres will enable customers to touch and feel Ola scooters, clarify their queries, and avail support both before and after purchase

Reducing taxes on automobiles can benefit economy: Vikram Kirloskar

A roadmap to reduce taxes on automobiles by half over a 10-year period to make the Indian auto industry more competitive globally and provide large scale employment to benefit the economy needs consideration, according to Toyota Kirloskar Motor Vice Chairman Vikram Kirloskar. Although at the moment India cannot afford to slash the tax rate on automobiles drastically, he said a plan to reduce cess on the industry can be looked at considering the sector's contribution to the overall GDP of the country. "The auto industry is highly taxed. If we look at a car by the time it's produced and by the time it's sold, in most cases it is 30 to 50 per cent more than the ex-factory prices (after adding) GST and all the other taxes, including road taxes," he told PTI in an interview. He further said, "We as an industry are very competitive. I think in the world, cost wise, quality wise, we have become quite competitive. So I think a plan to reduce taxes over a period of time will really benefit t

Pravaig launches electric SUV Defy at Rs 39.5 lakh; deliveries next year

Electric mobility startup Pravaig Dynamics on Friday launched a sports utility vehicle Defy, tagged at Rs 39.5 lakh (ex-showroom) to compete with the likes of Audi e-tron and Mercedes Benz EQC . The Bengaluru-based company has commenced the bookings of the model and deliveries are expected to begin from the third quarter of next year. The company aims to produce 10 lakh units by 2028 and cater to both domestic and international markets. "At the beginning we will try to address the domestic market and will look at exports in 2024," Pravaig Chief Strategy Officer Ram Divedi told PTI in an interaction here. In the long run 70 per cent of the production would go into the overseas markets, he added. Divedi said Defy is more affordable to own than other competing products in the market. The SUV comes with a driving range of around 500 km and 402 BHP power, he added. Pravaig, which has a manufacturing plant in Bengaluru, plans to commence production with a few thousand units and scale

Castrol to pick up 7.09% stake in TVS family's Ki Mobility for Rs 488 cr

With this deal, which is Castrol's largest all-cash transaction, the firm aims to expand its presence in service and maintenance of ICE vehicles and EVs

Toyota Kirloskar Motor focussing on hybrid vehicles: VC Vikram Kirloskar

Toyota Kirloskar Motor will bring electric vehicles in India in future, but at the moment it is focussing on hybrid vehicles keeping in mind the objective of meeting holistic carbon reduction, company Vice Chairman Vikram Kirloskar said. The company, which on Friday unveiled Innova Hycross -- the new hybrid version of its popular multi-purpose vehicle Innova -- also expects full capacity utilisation at its two manufacturing units in Bengaluru by the middle of next year. "I think the country's objective is to reduce carbon (emission). You have to look at it holistically and (on a) scientific basis and that's what we are doing," he told PTI here, when asked about Toyota Kirloskar Motor's strategy of focussing on hybrids at a time when electric vehicles (EVs) have started gaining traction in India. Kirloskar argued that considering the current low level of renewable energy sources in India, EVs do not necessarily serve the purpose of reducing carbon emissions. He cited a recent study

Pre-owned segment likely to narrow value gap with new cars by FY27: Study

Shift to UVs from sedans, vans, and small cars to drive the trend

Volvo-Eicher looks to make most of post-pandemic recovery in bus market

Aims to disrupt intercity segment with fully-built luxury coaches