Page 11 - Passenger Vehicles

India's passenger vehicle sales to grow 9%-10% in 2024: Crisil Ratings

SUVs are expected to nearly double their share in overall domestic sales to roughly 55% in fiscal 2024 from about 28% in fiscal 2018

Tata Motors to hike prices of passenger vehicles by 1.2% from Feb

Tata Motors on Friday said it will increase prices of its internal combustion engine-powered passenger vehicle range by 1.2 per cent on a weighted average basis from February 1. The company has been absorbing a significant portion of the increased costs on account of regulatory changes and a rise in overall input costs, and is hence passing on some portion through this hike, the auto major said in a statement. Effective February 1, 2023, the weighted average increase will be 1.2 per cent, depending on the variant and model, it added. The company sells various models like Nexon, Harrier, Safari and Punch in the domestic market.

Maruti to roll out its first EV next fiscal, five more by FY30: Suzuki

EVs to constitute 15% of Maruti's total production by FY30

TMS Ep350: SUVs, Indo-Pak talks, green hydrogen stocks, Char Dham Yatra

Why have SUVs become India's car of choice? How should India react to Pak PM's call for talks? Which green hydrogen stocks should you keep an eye on? What is the Char Dham Yatra? All answers here

Maruti Suzuki hikes vehicle prices by 1.1% across models, 2nd rise in FY23

In December last year, the company had said it would hike prices of its vehicles to offset the impact of rising input costs

At 3.8 million units, PV sales rev up to highest ever in 2022: Siam

Data showed that passenger vehicle sales grew by 23 per cent in 2022 compared to the previous year to touch 3.79 million units

Wholesale passenger vehicle volume up on UV demand: Siam

However, FADA had warned that retail sales could be hit in the current quarter, with stricter fuel efficiency norms aimed at reducing carbon emissions set to come into effect from April this year

Hydrogen as a fuel is for commercial vehicles, says Shailesh Chandra

"Our focus is on bringing all kinds of body styles and products at different accessibility points from the lowest possible to the highly aspirational"

TMS Ep343: Joshimath, passenger vehicle, FMCG stocks, flight navigation

Is Joshimath paying the price for development? Can passenger vehicle sales keep the momentum in 2023? Will FMCG stocks reverse their underperformance? How do planes navigate in dense fog? Answers here

India overtakes Japan to take third spot among largest vehicle markets

According to Siam, 4.13 million vehicles - including passenger and commercial - were sold in the country between January and November 2022

Top carmakers post double-digit export growth with Maruti at the wheel

Clock 11% growth in the first 11 months of 2022

Domestic passenger vehicles sales up 23% to record of 3.79 mn units in 2022

Domestic passenger vehicles sales rose by 23 per cent to a record of 37.93 lakh units in 2022 led by the likes of Maruti Suzuki, Hyundai and Tata Motors as the companies rode on easing of pandemic related challenges and semiconductor shortages to cash in on pent up demand, specially for SUVs. Other manufacturers like Toyota Kirloskar Motor and Skoda India also reported record sales in 2022. "The industry wholesales in January to December 2022 were just short of 38 lakh units. It was 37.93 lakh units against 30.82 lakh in 2021, which is a growth of 23 per cent," Maruti Suzuki India Senior Executive Officer, Marketing & Sales Shashank Srivastava told reporters in a virtual conference. He further said the 2022 wholesales are "the highest ever in the industry for a calendar year" and the last highest was in 2018 which was 33.3 lakh units. "So, this is about 14 per cent higher than the highest ever," he added. On the reasons for the growth, Srivastava said, "I believe this resurgence .

Big duty cuts in India on parts and cars key demand of European players

Continent's manufacturers say they can't compete with manufacturers from FTA countries; also seek elimination of non-tariff barriers, long-term EV policy

Govt allows conversion of regular vehicle registrations into Bharat Series

The Ministry of Road Transport and Highways (MoRTH) has allowed the conversion of regular vehicle registrations into Bharat Series (BH) numbers as part of measures to widen the scope of the BH series ecosystem. Earlier, only new vehicles could opt for the BH series mark. In an official statement, the MoRTH said over the course of the implementation of BH series registration mark rules, several representations have been received towards strengthening the BH series ecosystem. "Vehicles currently having regular registration mark can also be converted to BH series registration mark, subject to payment of requisite tax, to facilitate persons who subsequently become eligible for BH series registration mark," the statement said. The ministry has also proposed an amendment in rule 48 to provide flexibility to submit an application for the BH series either at the place of residence or place of work with a view to providing further ease of life to the citizen. It also said that the Working

Irdai proposes 3 yrs insurance cover for cars, 5 yrs for two-wheelers

Regulator Irdai on Wednesday proposed to introduce an insurance cover of three years for cars and five years for two-wheelers with an aim to allow wider choice to customers. The Insurance Regulatory and Development Authority of India (Irdai) has floated a draft on 'Long-Term Motor Products covering both Motor Third Party Insurance and Own Damage Insurance'. The draft proposes to permit all general insurers to offer 3-year insurance policy in respect of private cars and 5-year for two-wheelers, co-terminus with motor third party liability cover. The premium for the entire term of the policy coverage would be collected at the time of sale of insurance. The pricing, as per the draft, would be based on sound actuarial principles, including claims experience, and long-term discount. "The pricing of add-on and optional covers may likewise consider the cost efficiencies of policy administration," said the draft, on which the Irdai has invited stakeholder comments by December 22. It also

Tata Motors mulling price hike for passenger vehicles from next month

Tata Motors is looking to increase passenger vehicle prices from next month in order to make its model range compliant with stricter emission norms which kick in from April 1 next year, according to a top company official. In an interaction with PTI, Tata Motors Managing Director - Passenger Vehicle and Electric Vehicles Shailesh Chandra said the price revision would also offset the impact of commodity prices, which have remained high for the most part of the year. "The regulatory change will have its impact on the cost. Even the real impact of softening of commodity prices is only going to come from next quarter and we still have the residual impact of the commodity escalation that we have seen during the year," Chandra said. He noted that even the battery prices have gone up and the same has not been passed on to the market. "So we are evaluating a price increase basis some of the residual effect that is left as far as the commodity prices are concerned. Battery prices and new ..

Nov car sales zoom to record high; Maruti, Hyundai post double-digit growth

Tata Motors saw its despatches jump 55 per cent to 46,425 units during the month

Mahindra & Mahindra posts 56% rise in domestic passenger vehicle sales

Mahindra & Mahindra on Thursday reported a 56 per cent rise in domestic passenger vehicles sales at 30,392 units in November 2022. The company had sold 19,458 units in the same month last year, M&M said in a regulatory filing. Utility vehicle sales were at 30,238 units as against 19,384 units in the year-ago month, up 56 per cent. Sales of cars and vans were higher at 154 units as compared to 74 units in the same month last year. M&M President, Automotive Division Veejay Nakra said the growth in November sales was on the back of robust demand across the company's product portfolio. "The supply chain situation continues to be dynamic due to continuing international disruptions. We are keeping a close watch and are taking appropriate steps," he added. M&M said its total commercial vehicle sales were at 19,591 units last month. Total tractor sales grew 10 per cent at 30,528 units as against 27,681 units in the year-ago month, the company added. Domestic tractor sales ...

Suzuki Motor sees Indian PV market at 7-8 mn by 2030, Maruti aims 50% share

Pre-Covid it had predicted that the market would reach 10 million

Passenger vehicle makers to spend Rs 65,000 cr on capacity expansion: Icra

Higher production is to cumulatively jack up overall capacity utilisation rate in PV industry to 74% by FY23-end from 59% in FY22