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VinFast set to drive into India with locally assembled cars
VinFast, the EV arm of Vietnam's biggest conglomerate Vingroup, is expected to launch its first locally assembled car during the 2025 festive season. It is likely to sell its vehicles in the ₹25-30 lakh range, placing them in the premium affordable segment of India's burgeoning market for EVs. The models are likely to have a range of 300-500 kilometres.
InsurTech firm ACKO drives into car repair and service space
ACKO, the Bengaluru-based insurtech firm, is expanding into car servicing and repair with its ACKO Drive Service Centres, targeting cars out of warranty. Initially launched in Bengaluru, plans include centres in Delhi, Mumbai, Pune, Hyderabad, Ahmedabad, and Chennai. Aiming to reach 100 centres in three years, ACKO seeks to capitalize on the growing $25 billion car service market.
Headwinds of high FPI exposure, but good for long term: 6 stocks the financial services sector with an upside potential of up to 25 %
One of the most intriguing aspects of presenting the return performance of stocks, or any asset class for that matter, is how a slight adjustment in the calculation date can dramatically alter the perception, making the glass appear either half full or half empty. This phenomenon is particularly evident in the case of financial service stocks. Recently, these stocks have often been portrayed as underperformers. However, this overlooks the fact that over the long term, they have provided substantial returns and generated significant wealth. The short-term underperformance of these stocks can be attributed to their heavy ownership by Foreign Portfolio Investors (FPI). As FPIs have been net sellers in Indian equities, financial service stocks have faced selling pressure. Nevertheless, the relative decline in stock prices is considerably less severe than in previous instances of similar selling activity. Given the robust fundamentals of these stocks compared to a few years ago, it is prudent to view them from a long-term investment perspective.
Car dealers feel the load as sales slow, inventory piles up
Passenger vehicle makers seek a 90-day credit cycle extension from auto financiers due to pressure in retail and sales channels amid slowing sales.
FADA plans to take up issue of high inventory with SIAM
The Federation of Automobile Dealers' Association (FADA) expressed concerns over high inventory levels and plans to discuss the issue with the Society of Indian Automobile Manufacturers (SIAM). FADA President Manish Singhania highlighted challenges faced by dealers, emphasizing the need for continuity in policies like FAME-3 and infrastructure development. Singhania noted that high inventory levels can impact dealerships negatively, especially if they exceed 30 days. He urged for collaboration with SIAM to address the issue and emphasized the importance of maintaining manageable inventory levels to avoid a repeat of the challenges faced in 2018-19.
Motor insurance rule change: No arbitrary claim rejection, quicker claim settlement, pay as you drive option must, says IRDAI
Motor Insurance New Rules by IRDAI: The Insurance Regulatory and Development Authority of India (IRDAI) has updated the master circular clarifying important rules for motor insurance policyholders. The regulator has proposed the implementation of strict timelines for claim settlements of auto insurance policyholders. It is a crucial step towards improving efficiency and customer satisfaction. Another key change is the introduction of a customer information sheet (CIS) for auto insurance policies to enhance customer awareness.
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Why might an insurance company deny your claim during the monsoon?Sandeep Saraf answers
A comprehensive policy does not guarantee that all flood-related damages will be covered. Multiple types of damages can occur during a flood, such as engine damage, electrical damage, interior damage due to water seepage, or gearbox damage. A normal comprehensive package covers these to some extent, but not 100%. We recommend a few add-ons for every customer purchasing a car insurance policy.
Not so well known stakeholders of EV ecosystem: 8 stocks that don't come instinctively, 3 with an upside potential of more than 18%
We also have a whole list, but we have separated the eight companies, just because these companies are not the names which one would instinctively think about and probably they may have more to go as they form this index.
Mygate enters insurance distribution business, partners with Acko
Mygate app, in partnership with Acko General Insurance, received an aggregator licence from IRDAI to distribute insurance policies, offering exclusive pricing and expanding product range.
Kia partners with Orix to introduce vehicle lease programme
Kia India has partnered with Orix auto infrastructure services to launch the 'Kia Lease' program, aiming to provide customers with a hassle-free ownership experience without maintenance, insurance, or resale concerns. The initiative has been rolled out in major cities like Delhi NCR, Mumbai, Hyderabad, Chennai, Bengaluru, and Pune. Kia India anticipates significant growth in the leasing segment, aligning with the global trend and catering to the evolving needs of consumers.
Will China become the cat among India's EV pigeons?
Chinese electric vehicles are causing concern in the US and Europe due to their affordability and efficiency. The US has responded by imposing tariffs on Chinese EVs and lithium-ion batteries. India may now become a target for Chinese EVs. Stellantis is considering manufacturing Leapmotor's electric vehicles in India to avoid tariffs.
Berkshire reveals $6.72 billion Chubb stake, insurer's shares rise
Berkshire owned 25.92 million Chubb shares as of March 31, according to a regulatory filing detailing Berkshire's U.S.-listed holdings as of that date.
Bearing the brunt today, but good for long term: 6 stocks from the financial services sector with upside potential of up to 30%
For all those who were again thinking why the financial services sector stocks are leading the recent phase of decline. A look into FPI holding patterns would throw the answer. It is the financial services, including banks where FPIs have the maximum exposure, so if they are booking profit, the first round of selling is bound to come in the sector where they have maximum holding.But there is another part to the story, which is when they come back, it is the very same sectors where they buy the first, because financial services and banks are the best proxy play to GDP growth. Also the fact that the majority of these stocks have ample liquidity plays an important part in the kinds of strong moves these stocks see.
Small cars will be big again, says Maruti Suzuki
Maruti Suzuki anticipates a recovery in small car sales due to economic growth. The company aims to capitalize on this trend by introducing new models to cater to diverse customer segments and enhance vehicular safety standards. Small-car sales fell 12% in FY24.
Car more than 15 years old? State govts announce discounts for scrapping; 5 things to know about how to scrap an old car
How to scrap an old car: Several states in India are offering discounts of up to 25% on personal vehicle prices or road taxes for customers who scrap their old vehicles and buy a new one. The government's Voluntary Vehicle Fleet Modernization Program aims to get rid of old and unfit vehicles that cause pollution and harm the environment. Different age criteria apply to commercial and private vehicles, and it is mandatory for states to promote the scrapping of old vehicles.
Big market correction unlikely; we could be at start of pre-election rally: Devang Mehta
Devang Mehta, Director-Equity Advisory, Spark Private Wealth, predicts no immediate market correction. Emphasizes sector selection, favorable monsoon forecast. Suggests opportunities in capex, luxury consumption sectors for investors seeking returns.
Car buyer to get Rs 14 lakh compensation as the car given for repairing was stolen from authorised service centre
Hyundai car gets stolen from service centre: A Hyundai Verna car was stolen from Kamal Auto Hyundai's (an authorised dealer) workshop. However what's more shocking is that the dealer hid this fact from the car buyer for almost two months. It was only when an FIR was lodged that Rajasthan Police found this out.
'It is desolate': China's glut of unused car factories
The facility, a former assembly plant and engine factory, had been a joint venture of a Chinese company and Hyundai, the South Korean giant. The complex opened in 2017 with robots and other equipment to make gasoline-powered cars. Hyundai sold the campus late last year for a fraction of the $1.1 billion it took to build and equip it. Unmown grass at the site has grown knee high.
Tesla woos China customers with cheaper cars after Musk defers India visit
Tesla Inc. has reduced vehicle prices in China amidst stiff competition. Tesla had earlier introduced incentives in China to attract consumers, countering competition from BYD. Musk meanwhile deferred his India visit, which was aimed to tap into a new market amid declining sales and stock prices.
These car modification could void your insurance
Indian car owners are increasingly modifying their vehicles, but it's crucial to inform insurers about any changes to avoid potential issues with insurance coverage in India.
Why you should renew your car insurance policy on time?
Renew car insurance promptly to comply with the law, avoid financial burdens, and maintain benefits like no-claim bonuses. Online services simplify the process, ensuring continuous coverage and hassle-free renewals.
Repair or replace? Insurers in this country sending electric cars to junk yards due to mechanic shortage
Electric car sales in the UK face challenges due to a shortage of trained technicians for complex EV repairs. The scarcity of repair technicians poses a threat to exacerbate this situation, particularly in the UK, where consumer adoption has remained stagnant for nearly two years. The lack of mechanics trained to handle advanced EV repairs is contributing to the escalation of repair costs.
Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 37%
Life is never easy for bulls, when they were just taking the first step to make a comeback, they have been hit by global developments. There are bound to be some reactions on the Indian markets, but before taking any decision it would be important to take into consideration that these headwinds will keep coming periodically. In such conditions, for investors who are looking to increase their exposure to stocks, it would be better to focus on fundamentals and if there is any improvement in them which has made the overall score go up in the last one month then have a look at those stocks. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
Digitisation will be key driver for Mahindra Finance, says MD designate
Senior management at Mahindra Finance is witnessing a paradigm shift as vice chairman Ramesh Iyer passes the reins to Raul Rebello at the end of April. Though developing new business models would take some time, analysts believe the company's strong rural reach and financials would be beneficial.
Understanding liability in vehicle insurance: What car and bike owners should know
Choosing the right vehicle insurance in India involves understanding liability coverage, comprehensive plans, and exclusions. ACKO provides tailored coverage, add-ons, and competitive pricing for comprehensive protection and peace of mind.
Latest health and general insurance claim settlement ratio released in 2024
Do you know how good is your insurer is in settling claims and how long it takes for your health or general insurer to settle claims? Or how many claims did they reject last year? It is important to keep track of the claim settlement performance of your insurer. IRDAI has recently released the claim payment details of general and health insurance companies. Check here
ICICI Prudential Life leases office space in Mumbai
The insurance major has leased this office space - spread across four floors - for five years through a structured deal, a person cited earlier said, adding that the company will be paying a monthly rental of ?91.5 per sq ft for the office space. The lease agreement includes a clause to escalate rentals by 4% every year.
Jet-setting Taylor Swift downsizes private jet collection amidst legal threats and environment concerns
Taylor Swift sells private jet amidst legal threats, drawing attention to environmental concerns. Critics highlight the disproportionate carbon footprint of private jets, contrasting with road travel for short distances. Swift's case reflects broader issues of wealth-driven emissions contributing to climate change, emphasizing the need for systemic changes to promote environmental justice and sustainability.
12 things to do after a car accident
Being involved in a car accident can be a jarring and stressful experience. In such a situation, it's crucial to remain calm and take immediate action to ensure your safety and protect your interests. Here are 12 things you should do after a car accident.
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