Vehicle Makers

Poonawalla Fincorp launches CV secured loans biz for tier-2,3 markets

Poonawalla Fincorp Ltd, the NBFC arm of the Cyrus Poonawalla Group, on Monday announced the expansion of its product portfolio with the launch of secured loans business for commercial vehicles (CVs), covering both new and old vehicle purchases. With a strong focus on Tier 2 and Tier 3 markets, the company said it plans to initially enter 68 locations across 12 states in the first phase. It aims to expand further to 400 locations across 20 states through a hub-and-spoke model in the next phase. The tailored financing solution for small, light, and heavy commercial vehicle operators, which aims to bolster the logistics and supply chain sectors, will help the segment players enhance their transportation capabilities, Poonawalla Fincorp Ltd (PFL) said. Besides, the customers will also benefit from flexible, structured payment and repayment options, the company said, adding that as part of this launch, it has also introduced a technology solution aligned with its risk-first ...

China's stimulus package has EV makers talking 'best golden week' in years

With electric vehicles in China now comprising one-in-three new car sales in some parts of the country, many of those road trips were made in an EV, although government doesn't break out exact figures

Auto majors to offer discount on new vehicles against scrappage certificate

Ahead of the festive season, several passenger and commercial vehicle manufacturers have agreed to offer discounts of 1.5-3 per cent on new vehicle purchase against scrapped old vehicles after a meeting with Union Minister Nitin Gadkari, an official statement said on Tuesday. The statement further said Mercedes Benz India has offered a flat discount of Rs 25,000, which will be over and above all existing discounts. Union Road Transport and Highways (RT&H) Minister Nitin Gadkari on Tuesday chaired a meeting with the SIAM delegation at Bharat Mandapam, where he addressed pressing issues in the automobile industry. "During this interaction, responding positively to the advice of the minister RT&H and recognising the importance of Fleet Modernisation and Circular Economy, multiple Commercial Vehicle Manufacturers and multiple passenger vehicle manufacturers have agreed to offer discounts for a limited period against a certificate of deposit (Scrappage Certificate)," the statement .

India outpaces peers in light vehicle sales growth: S&P Global Mobility

Sales grew 35% in CY23 compared to pre-pandemic level of CY19

Hinduja's Ashok Leyland witnesses 3% decline in total sales in November

Hinduja Group flagship company Ashok Leyland has witnessed a 3 per cent decline in its sales in domestic and overseas markets by selling 14,053 units in November, the company said on Friday. The city-based commercial vehicle maker sold 14,561 units during the corresponding month of last year. Sales of medium and heavy commercial vehicles slipped by 10 per cent in domestic and overseas registering 8,500 units in November 2023, as against 9,474 units sold in the same month of last year. However, the total number of light commercial vehicles sold in domestic and overseas grew by 9 per cent to 5,553 in November this year from 5,087 units sold in November 2022. The cumulative sales till November 2023 rose by 7 per cent, to 1,22,092 from 1,14,370 units sold in the same month of last year. The cumulative sales of medium and heavy commercial vehicles as of November grew by 8 per cent to 76,936 units as compared to 71,356 units sold in the same month of last year. Light commercial vehicl

Uneven solution

Car rationing only partially addresses the pollution crisis

Electric vehicle market set to be on full charge by 2025: ICRA report

The report highlights that the electric twowheeler (e2W) segment has emerged as a frontrunner, accounting for 85-90 per cent of total EV sales in FY23

Tata Motors inaugurates registered vehicle scrapping facility in Surat

India's leading automobile manufacturer Tata Motors on Saturday inaugurated its third registered vehicle scrapping facility (RVSF) in Surat with a capacity to recycle 15,000 vehicles per year. Named Re.Wi.Re Recycle with Respect,' the third RVSF in Surat -- set up after Jaipur and Bhubaneswar -- uses environmentally-friendly processes and has the capacity to disassemble 15,000 end-of-life vehicles safely and sustainably each year, it said in a statement. The RVSF is developed and operated by Tata Motors' partner Shree Ambica Auto to scrap end-of-life passenger and commercial vehicles of all brands, it said. "We are confident that these decentralised facilities will benefit our customers, foster economic growth, generate employment opportunities and fulfil the need of eco-friendly vehicle scrapping," Balaji said. Re.Wi.Re. is purpose-built for dismantling end-of-life passenger and commercial vehicles across all brands, with a focus on employing environmentally friendly practices.

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

Ultraviolette unveils India-made F77 electric motorcycle for Rs 3.8 lakh

Company says bike has the most advanced battery pack in the industry

Why auto makers recall faulty cars & how you'll be impacted if you own one

There is no replacement guarantee, usually only the defect will be fixed; cost of recall repair is borne by the manufacturer, but additional defects discovered during repair are to your account

Results preview: Strong operational show to drive Q2 for auto firms

Easing chip supply, demand for premium models and price hikes at play

People opting for scrapping should get discount on new vehicles: Gadkari

Auto companies will see business increasing by 25-30 per cent thanks to scrapping, says minister

Sharp rise in e-scooter registrations, penetration close to inflexion point

Ather Energy leads with a 4x increase in registrations in August; Hero Electric crosses the 10,000 mark once again, after a gap of over four months

Recovery tracker: Fewer vehicle registrations, workplace visits dwindle

Electricity generation lower than before as monsoon sets in

Rural vehicle marketplace Tractor Junction raises $5.7 mn in seed funding

Tractor Junction is India's largest digital marketplace to buy, sell, finance, and insure new and used tractors, farm equipment, and rural commercial vehicles.

India's Mahindra says deal to sell SsangYong Motor to Edison terminated

BENGALURU (Reuters) -Indian carmaker Mahindra & Mahindra said on Thursday that a deal to sell its bankrupt unit, SsangYong Motor Co, to South Korean electric carmaker Edison Motors Co had been terminated.

New norms notified to ensure vehicle users' safety: Nitin Gadkari

"Every year, over five lakh of accidents happen in India, reporting over 1.5 lakh deaths in these accidents, therefore, we took a decision and made six airbags mandatory for all cars," he said

WardWizard Innovations posts 12-fold jump in two-wheeler sales in Nov

Electric vehicle maker WardWizard Innovations and Mobility on Wednesday reported nearly a 12-fold jump in its two-wheeler sales at 3,290 units in November, driven by festive season sales and rebound in the business activities. The Vadodara-based company, which markets its electric two-wheelers under the 'Jpy e-bike' brand, had sold 255 vehicles in November 2020, according to a release. Continuing with yet another strong sales momentum, WardWizard Innovation &Mobility Ltd sold 3,290 e- scooters and motorcycle units in November, the company said. The massive sales led to a 1,190 per cent growth compared to November 2020 sales of 255 units, it said. The low-speed models of the company have further observed good traction in both urban and semi-urban centres, the EV maker said, adding, already, 13,516 units are sold in the April-November period of the fiscal, clocking a 590 per cent compared to the same period of last year, it stated. The total sales in the first eight months of the

India offers huge opportunities for vehicle manufacturers: Nissan COO

India offers huge opportunities for vehicle manufacturers and electrification is the pillar that could transform the country's automotive industry, Nissan Motor Corporation COO Ashwani Gupta said