CAR INSURANCE POLICY
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.
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.
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.
Railways stocks: Stay bullish, just hedge a bit to avoid mistake of selling in haste: 7 outperforming railways stocks across different segments
Even the best of the rational brain can make wrong decisions when there is too much noise which gets created due to a narrative. Now for the last few days a narrative has been created that due to polls, FPI are selling. These kinds of narratives tend to hit the sector and stocks which are sitting with big gains and are dependent on government policy push. Railways was among the last sectors to get re-rated due to the policy focus. Whether it was companies which are financing the expansion of railways or private sector companies which are making coaches, all of them have done extremely well. Given the fact the railways is likely to be the focus area, the long term story remains intact. Only thing is that one might end up selling the long term winner early because of the narrative. Rather than getting jittery, it would be better to create a hedge and stay with the stocks where there has been a big change in the fundamental ways things operate and the sector has a long runway.
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.
Car loan interest rates for May 2024: Latest car loan interest rates of top 18 banks
Latest car loan interest rates: The EMIs you pay on the loan will vary significantly depending on the interest rate. You might be able to work out a better deal and get a cheaper interest rate if you have good credit. List of car loan interest rates offered by 18 banks in 2024.
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.
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.
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.
Our business from policies above Rs 5 lakh is down by 10%: Kamlesh Rao, Aditya Birla Sun Life Insurance
"The business from policies with premiums higher than Rs 5 lakh is down by an absolute 10%. The number of policies has grown by 20% and we have lost the contribution from plans above Rs 5 lakh by 10%. So, our business for the first nine months was 10%," said Kamlesh Rao, MD & CEO, Aditya Birla Sun Life Insurance.
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.
Mercedes-Benz, BMW and Audi may steer clear of India's new EV policy
The luxury car makers that have already been present in India for decades would rather accelerate local assembly in the country as the money will need to be ploughed in within three years of receiving approval under the scheme, said auto executives. The aforementioned companies didn’t officially comment on investments under the new policy.
India EV policy to encourage local production of premium electric cars: Audi official
Audi AG executive praises India's new electric vehicle policy for boosting local production of premium electric cars and accelerating EV adoption. The policy includes import duty concessions for companies investing in manufacturing units for EV passenger cars.
India okays EV policy with tax relief to rev up manufacturing dream & lure foreign players like Tesla
The Indian government has launched a new scheme to boost electric vehicle manufacturing, aiming to attract foreign investments and boosting Tesla's plans to enter India for local production. With a minimum investment requirement of Rs 4,150 crore, the policy seeks to position India as a leading hub for advanced EV technology production.
Chennai flood sweeps away cars: Here's how to insure your vehicle against flood damage
Flood-related damages can encompass engine, gearbox, electric and electronic, and upholstery damage. Repairing or replacing a water-damaged engine alone can cost between Rs 75,000 to Rs 15 lakh.
Unlock the road to secure celebrations: A comprehensive guide to motor insurance this festive season
As the festive season approaches, whether you're welcoming a new vehicle into your life or your motor insurance renewal is due, don't delay this prudent decision.
Provide insurance cover to staff travelling in employers' vehicle: Irdai tells insurers
Insurance Regulatory and Development Authority of India (Irdai) further said the compulsory cover of IMT-29 should be provided as an in-built coverage under the Compulsory Motor Third Party Liability Section of Private Car Package/ Bundled Policies and under standalone policies insuring Compulsory Motor Third Party Liability.
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