Auto News
Auto sector sees resilient two-wheeler growth amidst mixed performance in PVs and CVs for June 2024
Wholesale volumes across various segments of the automobile industry in June 2024 are expected to show a subdued trend. This is primarily due to the absence of wedding dates, as stated in an Anand Rathi report. Analysts predict a mixed performance in the market. Two-wheeler (2W) volumes are anticipated to be resilient, while passenger vehicles (PVs) and commercial vehicles (CVs) are expected to see slight declines. Tractor volumes are likely to remain flat.
Expect Indian PV market to touch 60 lakh units by 2030, targeting 18-20 pc share: Tata Motors
Tata Motors targets significant market share growth by FY30, focusing on EVs, CNG vehicles, and new product offerings. The company strategically prepares for upcoming CAFE III norms and aims to capitalize on industry transitions for sustainable growth.
Competitive intensity in used vehicle market to be on the rise: India Ratings
India Ratings and Research predicts that vehicle financiers will increase the share of used vehicles in their AUM due to rising new vehicle prices, food inflation, heat wave, moderation in capacity utilization due to elections, and slowing rural economy. The agency also expects a decrease in FY25 growth rates from FY24 levels. The agency expects non-bank finance companies to focus on used vehicles as assets class, presenting a favorable risk-return in terms of asset quality and pricing power.
Car discounts: Check offers on cars of Maruti, Tata, Honda, Hyundai, Mahindra, Skoda and Volkswagen
Car makers like Maruti Suzuki are offering significant discounts on various SUV models to boost sales in a slow market. This approach is driven by the need to clear inventories and attract customers amidst muted demand, as highlighted by industry analysts.
Hyundai IPO: A chaebol looks at India to break out of a Korean trap
Just as Indian stock markets are trading near record highs, Hyundai expects the listing of the equity shares in India "will enhance our visibility and brand image", and "provide liquidity and a public market" for the shares.
Force Motors partners with EY Parthenon India for digital transformation program
Force Motors has partnered with EY Parthenon India to undertake a digital transformation programme aimed at boosting innovation and productivity across its value chain. The collaboration will focus on redesigning Force Motors' digital landscape, implementing advanced digital platforms, technologies, and solutions for customers, and enhancing its capabilities and security.
Demerger to secure synergies across biz verticals, says Tata Motors Chairman N Chandrasekaran
Tata Motors is planning to demerge its existing automotive businesses into two listed entities, a move aimed at enhancing synergies across its Passenger Vehicles (PV) and Jaguar Land Rover (JLR) segments. This step is expected to boost collaborations in electric vehicles (EVs) and autonomous vehicles. Tata Motors Chairman N Chandrasekaran made this announcement at the company's 79th Annual General Meeting on Monday.
Passenger vehicle sales to see 3-5 pc growth this fiscal: Report
Passenger vehicle sales are expected to grow moderately at 3-5% in the current financial year due to a high-base effect of FY24, shrinking order book, and subdued demand for entry-level variants. Electric car sales in the PV segment may reach 1.30-1.50 lakh units in FY25, driven by improving penetration rates. Utility vehicles have seen significant growth, benefiting from lower interest rates and increased demand for personal mobility post-pandemic.
BIS introduced new safety standards for EVs in India
Bureau of Indian Standards (BIS) introduces safety guidelines for electric vehicles in India, focusing on powertrain components. New rules, IS 18590: 2024 and IS 18606: 2024, aim to enhance safety in L, M, and N vehicle categories.
Spoilt for choice: How changing consumer preferences & tech advancements driving upgrades in electronics and car
Hyundai Motor India introduced the third upgrade to its flagship SUV, Creta, in January, followed by the performance-focused Creta N Line variant in March. Samsung launched the Galaxy S24 Ultra smartphone in yellow color. Kia India's senior VP highlighted the reduced product life cycles in the automotive industry.
Carmakers take the multiple powertrain ride
Carmakers from industry leader Maruti Suzuki to Tata Motors, Toyota Motor, Honda and Citroen, a relatively newcomer in the Indian market, offer diverse options in powertrains, from petrol, diesel and CNG to flexible fuel, electric and hybrid.
Bajaj Auto looks to sustain domestic business momentum; recover export volumes
Bajaj Auto aims to sustain momentum in domestic business and expand production capacity for new ventures. Chairman Niraj Bajaj expects robust demand in FY2024, with a focus on recovering export volumes.
Tata Motors launches digital marketplace 'Fleet Verse' for commercial vehicles
Tata Motors, the renowned Indian automobile manufacturer, introduced Tata Motors Fleet Verse on Thursday, marking its debut as a robust digital marketplace tailored for the company's commercial vehicles. This platform facilitates various functionalities such as discovering new vehicles, configuring them, acquiring them, and arranging financing. It is designed with future scalability to accommodate a wide array of additional services and features, positioning Fleet Verse as a comprehensive digital hub catering to all commercial vehicle requirements in one place.
JLR steps up its 5-year investment plan by £3 billion
Tata Motors has increased its five-year investment in Jaguar Land Rover to £18 billion for FY24-FY28, up from £15 billion, focusing on developing electric vehicles and hybrid models. This aligns with JLR's "Reimagine" strategy. Additionally, JLR will partner with China's Chery to produce electric vehicles under the Freelander brand in China.
Indian automobile industry grows 19 pc to Rs 10.22 lakh cr in FY24: Report
In the two-wheeler segment, India witnessed 10 per cent increase in volume and 13 per cent in value. The three-wheeler segment grew by 16 per cent in volume and 24 per cent in value and the commercial vehicle segment rose by 3 per cent in volume and 7 per cent in value.
Auto industry’s ability to hike prices will be lower in FY25 but value growth to be strong: Primus Partners
Automakers in Mumbai are predicted to face limited pricing power this fiscal due to subdued demand, resulting in an anticipated average price increase of 4% to 5%, down from 8% in the previous fiscal year. Despite sluggish volumes, a strong growth trend in value terms is expected to persist, with India's automobile market witnessing a 19% growth to Rs10.6 crore in FY24, driven by factors such as the increasing popularity of utility vehicles, electric vehicles, and demand for features like sunroofs and automatic transmission.
