Ola Electric Mobility Ltd on Friday reported a 74 per cent rise in vehicle registrations at 41,605 units in October 2024 as compared to the same month last year. The company sold over 50,000 units in October 2024, Ola Electric said in a statement. The registration numbers are as per Vahan data, it added. "The festive season has been really strong for us on the back of our expansive portfolio, uptick in consumer demand, and the strengthening of our sales network across India. We have witnessed an increase in EV adoption especially in Tier 2 and 3 markets and we are confident that this positive growth will cascade in the coming months as well," a spokesperson of Ola Electric Mobility Ltd said. The company said it has started a campaign to double its company-owned service network to 1,000 centres by December 2024. Also, as part of the network partner programme, it will onboard 10,000 partners across sales and service by the end of 2025.
But, despite this decline, August sales still represented the third-highest monthly total this year, following March and July
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's NSE Nifty Auto Index is down 4.1 per cent in August, more than double the decline in the Nifty 50 Index
Shares of Popular Vehicles and Services, an automobile dealership firm, fell by over 6 per cent during their trading debut on Tuesday
ASP has gone up from Rs 7.65 lakh in 2018-19 to Rs 11.5 lakh in 2023-24, according to the industry. Premiumisation, changing regulatory norms and SUV craze lead to price hikes
To address the issue, dealers will replace the fuel pump module, free of charge, the NHTSA said
Audi India registered an 88 per cent growth and has retailed 5,530 units in the first nine months of this year
Hinduja group-owned commercial vehicles maker Ashok Leyland expects over one-fifth of its revenue to come from exports in the next five years, according to company's Executive Chairman Dheeraj Hinduja. The thrust is to see Ashok Leyland among the top 10 global original equipment manufacturers (OEM), said Hinduja at Carlton House Terrace, London, UK, during a select media roundtable with the Hinduja family members here. The company, which is investing around Rs 1,000 crore to set up a bus manufacturing facility near Lucknow in Uttar Pradesh, expects the first vehicle to roll out within 15-18 months. Besides, Ashok Leyland has plans to enter Europe with electric buses in 2025, said Hinduja. As per its strategy, the company would focus only on the commercial vehicle segment and has no plans to enter the passenger vehicle segment as of now, he said. There is "room to grow with commercial vehicles" and a "much better growth path" in the segment, said Hinduja. In financial year ended M
Iyer said, "We have ethanol-friendly petrol engines, which are E-20 compliant; we have state-of-the-art diesel engines that are clean, and we have electric."
In India, Electric Vehicles (EVs) attract a GST of 5 per cent, while hybrids attract a much higher 43 per cent
Power generation was lower than the previous week
Since 1950, India's per capita income (PCI) has jumped over 500 times. In 1950, it stood at Rs 265, and increased to Rs 1,28,829 in 2020-21
Dragged down by two-wheelers, overall retail falls 8%
Workplace visits increased and power generation continues to inch up, marking economic recovery
With more people venturing out, traffic congestion increased in major cities in the country last week, shows data from global location technology firm TomTom International
Passenger vehicle wholesales in India declined by 27 per cent year-on year in October with semiconductor shortage hitting production of automobile manufacturers
Partha Datta, president and managing director of the company in India, says the coronavirus pandemic made an indelible mark on the industry
Light and small trucks leading sequential resurgence
Hero MotoCorp, TVS Motor increase market share in a dwindling market while Bajaj and Honda slip