Page 4 - Two Wheeler Market

TVS Motor says aiming for bigger market share in premium motorbike segment

Two and three-wheeler manufacturer TVS Motor is aiming to capture a bigger market share in the premium motorcycle segment, an official of the company said on Wednesday. The company enjoys the number two position in the premium motorbike segment in India, which is growing at 10 per cent at present, he said. Motorcycles having an engine displacement of 150 cc and above are categorised in the premium segment. "We enjoy the number two position in the premium segment in the Indian motorcycle market. We aim to have a bigger market share in this category," Vimal Sumbly, head (premium business) of TVS Motor said. Launching the TVS Apache RTR 310 in Kolkata, Sumbly said the company now offers premium motorcycles ranging from 160 cc to 310 cc displacements. "Our aim is to increase the volume of the premium motorcycle segment in the country. Now premiumisation in the motorcycle segment is taking place at a faster pace with improvement in infrastructure and rise in disposable incomes," he tol

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

TVS Motor launches new variant TVS Apache RTR 160 4V at Rs 1.34 lakh

Two and three-wheeler manufacturer TVS Motor has launched the TVS Apache 160 4V motorcycle equipped with Dual Channel ABS and Voice Assist, widening its product portfolio. The new bike, priced at Rs 1,34,990 (ex-showroom Tamil Nadu) was in line with TVS Motor's commitment to safety while experiencing the joy of riding a motorcycle. The bike was launched at the third edition of TVS Motosoul - the flagship motorcycle festival by TVS Motor in Goa. The occasion also marked the extension of TVS Motor and Petronas' collaboration for the next season. "The focus of the partnership will also be on introducing co-branded merchandise that aligns with the values and identity of both the brands.", a company statement said. TVS Motor Company entered into a partnership with Petronas in 2022 and has completed two seasons with 80 per cent wins across different race formats. The partnership would also focus on introducing co-branded merchandise. "TVS Motosoul is a platform that offers a complete

TVS Motor November sales: Total sales up 31% YoY to 364,231 units

TVS sold a total of 16,872 units of electric two-wheelers in November 2023 as against 10,056 units sold in November 2022

Two-wheeler volumes expected to grow by 4-7% this fiscal year: Report

Two-wheeler retail sales are expected to increase by just 4-7 per cent in volume terms in the domestic market this fiscal year despite logging strong growth in the festive period, according to a report. The festive season this year saw robust growth in two-wheeler retails aided by the upcoming wedding season and some recovery in rural demand, which supported sales growth in the entry-level (110 cc) segment, the report by rating firm Icra stated. The dealer inventory remained at near normal levels, with the OEMs (original equipment manufacturers) wary of a build-up in inventory at the dealerships, it added. "The industry is expected to record a moderate growth in volumes in FY 2024 (4-7 per cent) even as export volumes remain impacted by weak demand," Icra said. Elaborating on the passenger vehicles, Icra stated that the segment is expected to record a moderate growth in volumes in FY2024 (6-9 per cent) and reach an all-time high during the period. Commercial vehicle volume growth

Musashi targets 25% market share in EV transmission components by 2028

This investment will be used to establish new assembly lines for EV transmission components and to upgrade existing facilities

TVS Motor Company joins hands with Emil Frey for key European markets

This partnership signifies a significant step towards global expansion for TVS Motor Company, leveraging Emil Frey's extensive distribution network and deep market insights in Europe

Hero MotoCorp posts its best festive season with sale of 1.4 mn 2-wheelers

Riding on robust demand across rural markets as well as steady retail off-take in key urban centres, the company registered a 19 per cent growth over the festive season last year

Hero Moto records 15% retail sales growth in 17 days of festival season

High demand for entry-level vehicles in this period: CGO Ranjivjit Singh

Two-wheeler wholesales inch closer to pre-pandemic volumes in Oct: Report

Hero said it was optimistic about demand due to its premium model launches and the onset of the festive season

To encourage helmet usage, IRF submits proposal to make them GST-free

Section 129 of the Central Motor Vehicle Act, 1988 mandates the wearing of helmets for all two-wheeler riders

Triumph Scrambler 400 X debuts in India, check price, features, and more

Triumph Scrambler 400 X made its debut in India, and interested buyers can book their motorcycles with a refundable amount of Rs 10,000. Check all the features, specifications and price

Govt demands e-scooter makers return $60 mn aid for using China parts

It turned out that some manufacturers were importing ready-to-use parts, mainly from China, and thus had little control over the quality of their end products

Two-wheeler sales of four major companies grow by 0.7% in September

This contrasts sharply with the passenger vehicle (PV) market, where automotive manufacturers are posting record sales numbers

FADA seeks reduction in GST rates for entry-level two-wheelers to 18%

The Federation of Automobile Dealers Associations on Thursday asked for the reduction in GST rates on entry-level two-wheelers to 18 per cent, saying the segment has not recovered from the impact of COVID-19 pandemic. Speaking at the Auto Retail Conclave here, Federation of Automobile Dealers Associations (FADA) President Manish Raj Singhania said in the ongoing fiscal so far, while the retail sales of total vehicles have grown by around 7 per cent, the entry-level two-wheeler segment is yet to witness the robust growth seen. "Although the two-wheelers segment experienced year-on-year growth, we are still 20 per cent behind the pre-COVID levels," Singhania said. Turning to Union Road Transport and Highways Minister Nitin Gadkari, who was the chief guest at the function, he said, "That's why FADA strongly urges honourable minister to help us get a reduction in GST rate from 28 per cent to 18 per cent for entry-level two-wheelers that is the 100cc and 125cc segment." He further said,

SMEV appoints Yulu Bikes co-founder R K Misra as new President for 2023-24

Society of Manufacturers of Electric Vehicles (SMEV) on Thursday said it has appointed R K Misra, Co-Founder of Yulu Bikes and Director at Magna Yuma, as its new President for 2023-24. The electric two-wheeler body also named Akshay Kashyap, Umesh Balani and Anadi N Sinha as Vice President, Secretary and Treasurer, respectively. Kashyap is Managing Director of Greenfuel Energy Solutions; Balani is Managing Director of Rotomag Group; Sinha is Director, Group Corporate Affairs at UNO Minda. Last month, SMEV had temporarily suspended its present constitution while appointing former BJP spokesperson Sanjay Kaul as its Chief Evangelist to help revise the agenda of the association. Kaul will continue in his role as Chief Evangelist.

Ather Energy to make net profit in 24 months, plans to raise more funds

The company is raising funds to help set up a new factory and strengthen R&D

Customers be asked to refund rebate on EV purchases amid subsidy revocation

Facing heat over alleged misuse of subsidies, a grouping of seven electric two-wheeler makers on Friday urged the government to look at the possibility of asking customers to pay back excess rebate availed by them on purchase of the vehicles. In a letter to Minister of Heavy Industries M N Pandey, the Society of Manufacturers of Electric Vehicles (SMEV) said the customers who have taken such subsidies can be asked to return these to the affected OEMs. The Centre has sought Rs 469 crore from seven electric two-wheeler makers, including Hero Electric and Okinawa for claiming incentives while not complying with the Faster Adoption and Manufacturing of Electric Vehicles (FAME) II scheme norms. "This is about the subsidies your department has claimed back from OEMs on retrospective basis: And this also holds for the Rs 1,200 crores that the OEMs claim remains un-reimbursed," Society of Manufacturers of Electric Vehicles (SMEV) Chief Evangelist Sanjay Kaul said in the letter. SMEV has ..

FAME-II investigation: Hero Electric gets 10 days to submit papers

Revolt Intellicorp to pay back Rs 44 crore

Auto component makers stepping up investments in green mobility business

In FY23, e-two-wheeler (E2W) penetration jumped to 4.5 per cent from 1.9 per cent in FY22, data released by the Federation of Automobile Dealers Associations shows