INDIAN USED CAR MARKET
Bollywood actor Ronit Roy buys sea-view luxury apartment in Mumbai’s Versova
Bollywood actor Ronit Roy and his wife Neelam acquired a 4,259 sq ft sea-view apartment in Versova, Andheri from Macrotech Developers for nearly Rs 19 crore. The June 10 deal includes four exclusive parking slots and a stamp duty of Rs 1.14 crore. The 29-storey project will be completed by December 2026. High net-worth individuals, including Bollywood stars like Amitabh Bachchan, Shahrukh Khan, Shilpa Shetty, Akshay Kumar, Abhishek Bachchan, and Aishwarya Rai, are investing in real estate.
Kotak Bank created fund used to bet against Adani: Hindenburg
Kotak Mahindra Bank managed funds for Adani stock trades, leading to significant profits. Despite ET queries, the bank mentioned transactions were made on a principal basis. Kingdon transferred funds for short positions on Adani stocks, resulting in gains after positions were squared off.
Demand for hybrid vehicles on the rise across the US; here are the best deals being offered
There is a growing demand for hybrid vehicles across the US. Many of the companies are offering discounts on these vehicles. The demand for EV vehicles is decreasing due to many challenges associated with it.
Hyundai's first Indian EV, the Kona, discontinued. Here's the reason why
Hyundai discontinues Kona Electric in India, focusing on mass-market Creta EV. The Kona faced challenges with sales performance. The upcoming Creta EV aims to compete with MG ZS EV and Tata Curvv, offering a range of 400-500 km.
Revving up: Fuelled by PLI, Indian automakers eye global EV space, targeting Europe & other developed markets
Indian auto manufacturers are seizing the export opportunity in the electric vehicle (EV) market, driven by increasing demand for cleaner mobility in developed countries and government support. Companies like Maruti Suzuki and Hero MotoCorp are gearing up to export their EV models to Europe, leveraging India's frugal manufacturing capabilities. With India's production-linked incentive scheme and alignment with global standards, automakers aim to challenge Chinese dominance in the EV sector and establish India as an EV export hub.
Indian streets gear up for electrifying SUV launches from Tata, Hyundai, Maruti & more
India gears up for a wave of SUV launches, including Tata Motors, Hyundai, Kia, and more, showcasing the industry's move towards sustainable transportation. Maruti Suzuki to unveil its first EV at Auto Expo 2025, and Mercedes-Benz targets a quarter of sales from EVs by 2026.
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How a tax sop has created a divide in India's motown
Indian automakers are at a crossroads as they navigate the shift from internal combustion engines to electric vehicles. Consumers are showing a preference for hybrids over EVs, sparking debate among automakers. The government's proposed tax reduction for hybrids has divided industry leaders, with some advocating for incentives solely for electric vehicles. The potential impact on sales volumes and climate goals is a central point of contention.
Hyundai has the same fear like Tata Motors & Mahindra about petrol, diesel cars
Hyundai has joined Tata Motors and Mahindra & Mahindra in opposing tax breaks for hybrid vehicles in India, arguing it could disrupt the market for petrol and diesel cars. Japanese carmakers support lower taxes on strong hybrids, citing emissions reduction and fuel efficiency benefits. The debate underscores the auto industry's shift towards more sustainable technologies.
Diversion ahead? For Chinese EVs, the road may fork out to India
The European Union's decision to hike tariffs on cheap electric vehicles made by Chinese companies has sparked concerns about unfair competition and the impact on the global auto sector. The move could lead to a reshuffling of the market dynamics, with potential consequences for both Chinese and European automakers.
6 Hyundai cars under Rs 8 lakh for Indian market
Over the past few decades, owning a car in India has become a necessity rather than the luxury. But the price conscious Indian customer does not easily give into buying cars worth lakhs, and prefers to stick within a budget. Safety, style, comfort and mileage of the car remains the top priorities.
Hyundai flags concerns with 'changes' by Indian govt ahead of planned Rs 25,000 crore IPO
Hyundai, which plans to raise Rs 25,000 crore through the Indian stock market by selling a 17% equity stake in the local unit, flagged the importance of stable policies for confidently making technological upgrades. They also highlighted concerns about localisation norms like PLI for automotive technology, aiming to reduce import dependence and lower manufacturing costs with significant initial capital investments.
Toyota Kirloskar Motor looks to expand used car biz across key cities
Toyota Kirloskar Motor aims to expand its used car business in key cities with the inauguration of the first Toyota Used Car Outlet (TUCO) in New Delhi, targeting the growing Indian used car market.
Use this adversity to buy high quality companies at discounts: Nilesh Shah
Well, what looks to essentially be the go-to market strategy, if I may use those words, would essentially to look at the defensives. Sectors which have had an extended period of underperformance, which is FMCG, rural plays, IT, pharma, these will emerge to be the risk off trades or will emerge to be the defensive plays and it is quite possible that you will see some kind of recalibration, tweaking of allocations, sectoral allocations and it is quite possible that you will see some money move from the favoured lot to basically this lot.
In your odyssey to happy redundancy, can you hear the AI sirens sing?
Everyone and their uncle’s going bananas over how AI will make everything better, effortless, abundant – but watch out for the rocks of declining individual creativity, critical reasoning, and ingenuity
Maruti launches limited editions of Alto K10, S-Presso Celerio to boost small car sales
Maruti Suzuki India launches limited editions of Alto K10, Celerio, and S-Presso under the 'Dream Series' to revive small car sales at Rs4.99 lakh.
Police arrest four Bishnoi gang members for plotting to attack Salman Khan using Pakistani arms
Navi Mumbai police has arrested four members from the Lawrence Bishnoi gang for allegedly planning to attack Salman Khan's car in Panvel. The gang had plans to order weapons from a Pakistani arms dealer. An FIR has been lodged against 17 people. The gang had fired outside the actor's residence on April 14.
Mercedes Benz eyes reduced trade barriers from new India government
Mercedes-Benz is urging the next government to prioritise the forging of more free trade agreements and reducing trade barriers to boost sales in the country's growing luxury car market. The company's India head emphasized the importance of FTAs for economic growth and expressed optimism for the future of the luxury car segment in India, where sales have been on the rise.
What strategy should traders use ahead of poll results? Rohit Srivastava explains
On a one-day basis, the market would go the other way if the numbers are not meeting expectations and so till the actual numbers really come out, markets would remain jittery, that is the main point.
Pre-owned car market expected to touch 1.09 cr units by FY28: Report
India's pre-owned car market, as per the Indian Blue Book report, is expected to expand to 1.09 crore units valued at USD 73 billion by FY28, with budget buyers predominantly seeking quality cars for upgrading to a new pre-owned vehicle.
Reliance’s Tira lays foundation using AI tools to push into India's glossy beauty market
Reliance Industries Ltd.’s Tira, a new venture in India’s beauty sector, leverages AI for personalized experiences like fragrance selection and skincare analysis. With 12 stores and online presence, Tira competes with Nykaa and Tata Group’s Palette in a rapidly growing market. Reliance's diversification strategy aims for innovation and market dominance.
Indian consumer market sees significant drop in average buyer age across cars, smartphones, and TVs
Over the past 5-6 years, the average age of Indian consumers purchasing cars, premium smartphones, and large televisions has decreased significantly, indicating a shift towards younger demographics. Major car manufacturers like Maruti Suzuki, Hyundai Motor, and Mercedes-Benz note a decline in the average buying age from the 40s to the mid-30s, with over 70% of electric car buyers being in their 20s and 30s. Similarly, the average age for purchasing Apple iPhones and large-screen televisions has dropped from the 30s to the late 20s to early 30s.
India's drug regulator cracks down on antibiotic misuse, seeks list of licensed combinations
India's drug regulator has directed state counterparts to provide a list of antibiotic combinations licensed for manufacturing and marketing within two weeks to combat misuse. This move follows recommendations from an expert sub-committee under the Drugs Technical Authority Board (DTAB) to regulate antibiotic use. The regulator seeks to ban inappropriate combinations and monitor unapproved antibiotics in the market. A sub-committee was formed to examine this issue, leading to the recent directive to state drug regulators and port officers.
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.
Suzuki predicts India market to expand 2% in FY25, Maruti to outpace industry growth
India is a bright spot for the Japanese auto giant, accounting for as much as 89% of the incremental volume of 168,000 units sold by Suzuki globally in the last fiscal year. While sales fell in several key markets, the Indian subsidiary posted a 9% increase in volume at 1.79 million units in fiscal 2024.
Move aside WagonR & Swift, India’s newest favourite is Tata Motors' Punch
Tata's Punch becomes India's top-selling car, outpacing Maruti's WagonR and Brezza. This shift underscores changing consumer tastes and hints at a broader transformation in the automotive sector. With consistent leadership, Tata's success reflects evolving market dynamics and suggests a potential reconfiguration in the competitive landscape, signaling a significant milestone for the company in the Indian car market.
Finelistings Technologies IPO opens today: Check issue size, price band, GMP and other details
Finelistings Technologies IPO: Finelistings Technologies opens SME IPO to raise Rs 13.5 crore. 11 lakh shares at Rs 123 each. Lead manager: Fedex Securities. Registrar: Skyline Financial Services. Retail investors get 50% reservation. Shares may list on May 14.
Indian auto market sees 2% rise in vehicle sales; SUVs continue to dominate
Last month, sales of cars, sedans, and utility vehicles in the local market increased by approximately 2%, reaching around 338,341 vehicles, compared to 332,468 units sold in April 2023. This marks the 16th consecutive month of best-ever monthly sales for automakers in the region. Despite a moderation in growth rate, the absolute volume remained robust. Maruti Suzuki, Hyundai, and Tata Motors reported marginal increases in sales, while SUV sales surged by about 15%, constituting 53.6% of total car sales.
A mini industry spawns under the hood of a booming car market
India's car market is booming, with passenger vehicle sales and the used car market both experiencing significant growth. The used car market is expected to reach $100 billion by 2034, driven by demand in metropolitan cities and the digitization of the business.
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