Page 6 - Two Wheelers

Automobile dealers' body seeks cut in GST on two-wheelers from 28% to 18%

Automobile dealers' body FADA on Thursday sought a cut in GST on two-wheelers from 28 per cent to 18 per cent, saying the segment being essential for millions should not be categorised as luxury item. The industry body said it has appealed to the finance minister, chair of the GST Council, all GST Council members, the ministry of heavy industries, which supervises the automobile sector, and the ministry of road transport & highways. This timely and decisive intervention would help in making two-wheelers more affordable, reviving demand and reinvigorating an industry that has seen a significant slump in sales over the past few years, the Federation of Automobile Dealers Associations (FADA) said in a statement. "The two-wheeler industry is at a critical juncture, grappling with unprecedented challenges such as rising inflation, stringent emission norms and the post Covid-19 effects. Now is the opportune moment for the GST Council to reduce the GST rate on two-wheelers, making them ..

New launches, exports pick up to drive volume gains for Eicher Motors

Margin expansion is expected to continue on strong volumes, improving mix, say analysts

Passenger vehicle dispatches jumped 13% to 331,278 units in April: SIAM

Two-wheeler dispatches increased by 15% to 1,338,588 units in April

E2W makers gear up for scale, hope FAME will continue to fuel operations

The key to increasing volumes is to offer more products at varying price points and expand distribution and markets

April auto retail sales drop of 4% on decline in two-wheeler demand

Fall in passenger vehicle sales after eight months was another factor behind the overall decline

Taiwanese firm Gogoro eyes India as hub for making electric two-wheelers

The top 50 cities where Gogoro wants to operate account for 25 per cent of all the two wheelers - around 60 million

Two-wheeler exports from India skid nearly 18% in FY23, shows Siam data

Global inflation, weakening economies/currencies in key export markets seen as reasons

Hero MotoCorp records increase of 15% in March sales to 519,342 units

Two-wheeler maker Hero MotoCorp on Saturday reported a 15 per cent rise in total sales at 5,19,342 units for March 2023 as compared to 4,50,154 units in the same month last year. Domestic sales last month were at 5,02,730 units as against 4,15,764 units in March 2022, a growth of 21 per cent, Hero MotoCorp said in a statement. Exports were, however, lower at 16,612 units as against 34,390 units in the year-ago month. In 2022-23, the company sold 53,28,546 units as against 49,44,150 units in 2021-22, up 8 per cent. Domestic sales in FY23 stood at 51,55,793 units as compared to 46,43,526 units in FY22, a growth of 11 per cent. Exports were lower at 1,72,753 units as compared to 3,00,624 units in FY22, the company said.

EVs account for 4.4% of 2-wheeler registrations, shows VAHAN data

Ola Electric is Numero Uno in the segment, with 22% share

Electric two-wheeler companies pencil in slow sales growth for FY24

For FY23, SMEV's projection was close to that of the government as it expected sales to be over 1 million

India should aim for 100% electric two-, three-wheelers by 2028: Kant

Former Niti chief dwells on need for first-loss guarantees and blended finance to boost private capital flow; calls for installing 5 mn fast chargers, urges battery swapping and PLIs for localised mfg

Ola, TVS, Ather account for 60% 2-wheeler EV registrations in 2023

Registrations in February slowed compared to the previous months, partly because of the FAME-II subsidy issue and also because there were fewer days in the month

Bajaj Auto slips over 4% on concerns of weak export sales

Analysts believe that exports are likely to remain under pressure in \near term, owing to weak macros, adverse currency movements and dollar availability issues in Africa, South Asia and Latin America

Ola Electric plans to build world's largest EV hub in India for Rs 7,610 cr

The hub, spanning 2,000 acres (809 hectares) in the southern Indian state of Tamil Nadu, will be used for manufacturing electric two-wheelers, cars and battery cells

Hero plans to expand electric two-wheeler range over next 12-18 months

The country's largest two-wheeler maker Hero MotoCorp plans to expand its electric two-wheeler range over the next 18-24 months as it looks to cater to demand across multiple customer segments, according to a senior company official. The company, which has already commenced sales of its electric scooter under Vida brand across Delhi, Bengaluru and Jaipur, plans to introduce the existing range in other cities as well in the next fiscal before it starts to roll out the new products. "With the launch in the three cities -- Delhi, Bengaluru and Jaipur -- where the customers are really taking up to the product and the overall sales and pre-sales experience...we are really ready to now multiply into many cities going into FY24 to establish ourselves wider into the market," Hero MotoCorp Head - Emerging Mobility Business Unit (EMBU)- Swadesh Srivastava said during an analyst call. Hero MotoCorp had launched VIDA V1 electric scooter in October last year in two variants Pro and Plus. The ..

Zypp Electric raises $25 million in Series B funding round led by Gogoro

Zypp plans to deploy 200,000 electric scooters and expand its footprint to 30 cities

Hero MotoCorp Chairman Munjal hails Budget; seeks GST cut on two-wheelers

Hero MotoCorp Chairman Pawan Munjal has called for a reduction in GST on two-wheelers to 18 per cent from current 28 per cent, while lauding the Union Budget 2023-24 as the dawn of a new high-growth economy, ensuring India's increased contribution to the global economy. The veteran auto industry leader noted that the two-wheeler segment, which has been witnessing subdued sales over the last few years, needs government support in terms of taxation. "There is a clear case for reducing the GST slab from 28 per cent to 18 per cent for the two-wheeler category, which has been adversely impacted over the past few years. This category is a means of mass mobility and should not be clubbed along with the luxury and sin goods category for GST slabs," Munjal said in a statement. He also said: "Further, now that the GST collections are buoyant, I urge the GST council to take this up since this segment is an income multiplier and its growth will boost the economy." Hero MotoCorp, the country's

Two-wheeler electric vehicle sales in India to reach 22 mn by 2030: Report

As the electric vehicle (EV) adoption grows in India, the electric two-wheeler sales volume in the country is likely to reach 22 million by 2030, a report showed on Wednesday

Hero Electric looks to raise nearly Rs 2,000 crore to drive expansion

The company is not looking for mergers and acquisitions, but is open to having a strategic investor who can bring some technical expertise

Results preview: 2W, PV auto firms to see muted sequential growth in Q3

Industry witnessed volume decline in the quarter owing to weak demand after the festive season, says one note