KUSHAQ SPORT UTILITY VEHICLE
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.
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.
Tesla seeks from EU lower tariffs on EVs shipped in from China: Report
Electric vehicle maker Tesla has asked the European Union to subject its cars to a lower tariff than other manufacturers shipping into the bloc from China, Bloomberg reported.
First to indicate good or bad about economy, as it stays strong, ignore noises about politics: 6 auto stocks with upside potential of upto 34 %
Unlike the US and some other western countries, where there is a separate transportation index which also has an element of logistic companies in it and is watched very closely, in India we don't have a very popular transportation index. The reason why transportation index numbers are extremely important is because there is enough historical evidence to show that auto industry numbers lead indicators of what is happening in the economy. That is why if one looks at the history of the stock market, the rallies which are led by the transportation and auto sector are more durable rallies. Especially the ones which are led by large commercial vehicles. Demand for large commercial vehicles would only increase when there is higher economic growth as more goods get moved from one place to another when the economy is doing well. At this point and in near term there will be noises about political instability, but better ignore it.
China says it never uses EV subsidies barred by WTO
China's Foreign Ministry denies using subsidies banned by the World Trade Organization for electric vehicles (EVs), addressing concerns over its EV industry flooding the U.S. market. Spokesperson Mao Ning stated that China's success in the EV market stems from market laws and comparative advantages, not government subsidies.
Uno Minda all lit up with more content per car and focus on electric vehicles
Uno Minda, a major auto parts supplier, has shown remarkable revenue growth, outpacing industry averages by almost two and a half times over five years. Its robust performance in FY24, marked by a 25.2% revenue increase and expanding operating margins, has propelled its stock by 37% in recent months. With significant growth in its lighting and light metal technology divisions, driven by premium offerings and expanding into the electric vehicle (EV) segment, Uno Minda is capitalizing on the trend of premiumization across vehicle segments.
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Iconic British car brand Jaguar Land Rover plans to ride India's luxury boom
The luxury carmaker plans to launch at least half a dozen new models from the JLR stables, both ICE and EV (internal combustion engines and electric vehicles), as it seeks to capitalise on the growing number of high-net-worth individuals in the country. This is the most aggressive push by JLR since it entered the Indian market in 2009.
Tesla Europe sales lowest in 15 months
Tesla Inc had a slow start to the second quarter in Europe, with CEO Elon Musk expecting better results. The carmaker registered 13,951 vehicles in April, down 2.3% from last year, its lowest since January 2023.
While Apple backtracks, a Chinese phone maker has raced ahead
Geely Auto and BYD Co., known for knock-offs, are now innovative. Xiaomi Corp., from cheap smartphones, aims to rival Tesla. Apple cancels EV project; Lei Jun leads Xiaomi's $10 billion EV venture.
M&M is wheeling big money into business. What is the plan?
Mahindra & Mahindra had outlined a new strategy for the coming five years with a focus on capitalizing on its market leadership in segments like SUVs, tractors and pickup trucks while scaling its growth-phase businesses five-fold during this period.
Motherson Sumi Wiring India Q4 Results: Firm posts rise in profit on steady demand
Motherson Sumi Wiring India on Thursday reported a 38% rise in fourth-quarter profit, aided by strong demand for automobiles.
Few Chinese electric cars are sold in U.S., but industry fears a flood
American automakers expressed their approval of the Biden administration's decision on Tuesday to levy a 100% tariff on electric vehicles imported from China. They stated that these vehicles could undercut billions of dollars of investments made in electric vehicle and battery manufacturing facilities in the United States.
Xiaomi moves ahead with Tesla-like SUV as first EV hits goals
Xiaomi plans to enter the EV market with SUVs by 2025, starting with the SU7 model. The company aims to reduce reliance on smartphones, taking on competitors like Tesla and BYD, with positive market reception and potential break-even in 2026.
Suzuki says will continue to expand SUV portfolio to recover market share in India
Suzuki Motor Corp intensifies SUV focus in India to regain market share. Strong financial growth in net sales and operating profit reported. Plans new production line and record sales for FY. New strategies to be unveiled by FY2024 end.
Japanese auto giant Toyota posts record net profit
Helped by a weak yen and strong hybrid vehicle sales, the Japanese giant's bottom line doubled to 4.94 trillion yen ($31.9 billion) in the year to March while revenues rose 21.4 percent to 45.1 trillion yen, also an all-time high.
Tesla pullback puts onus on others to build electric vehicle chargers
Musk's decision to lay off the 500-member team responsible for installing charging stations, and to sharply slow investment in new stations, baffled the industry and raised doubts about whether the number of public chargers would grow fast enough to keep pace with sales of battery-powered cars.
Maruti bets on new-gen models to race past industry growth
Maruti Suzuki India is aiming to sell about 2 million vehicles in the current fiscal, an 8.1% increase, outpacing the domestic industry. The company is betting on the launch of new models to drive growth, targeting a 10% rise in production. Maruti also plans to step up exports significantly and invest ₹1.25 lakh crore by 2030 to double output. The company's aggressive strategy aims to regain market share lost to rivals in recent years.
Hyundai plans to launch its first hybrid car in India in 2026, says EVs long-run strategy
The group, housing Hyundai Motor and Kia Corp, is evaluating a hybrid sport-utility vehicle of size similar to its top-selling, mid-sized Creta SUV in India, said two of the sources who have direct knowledge of the plans.
Domestic passenger vehicle sales rise 11 pc in February: SIAM
In February, passenger vehicle wholesales in India increased by 11% year-on-year, with total dispatches reaching 3,70,786 units. Sports utility vehicles continued to drive demand, contributing to the highest-ever February sales for passenger vehicles. Two-wheeler sales rose 35% to 15,20,761 units, while three-wheeler dispatches increased to 54,584 units.
Lot more women take the driver's seat in SUVs now
The share of women SUV buyers has climbed 4.5 times from five years ago amid a growing preference for vehicles with high ground clearance and higher seating. Sales jumped from only 29,000 units in 2018 to 125,000 units in 2023, data from industry sources showed.
Sales of cars, sedans, utility vehicles see their best-ever February
As per industry estimates this is an increase of 11.3% over 335,324 units sold in the same period last fiscal. February 2024 was the third best month for passenger vehicle sales recorded in the domestic market ever. The highest-ever wholesale in a month was in January 2024 at 3,94,500 units, followed by October 2023 at 3,91,811 units.
SUV mania: Car companies poised for bumper January sales
Maruti Suzuki and Hyundai, the leading carmakers in the country, are set to achieve their best January sales driven by strong consumer demand, particularly for SUVs. Industry estimates suggest that over 375,000 vehicles will be dispatched this month, an increase of more than 8% compared to January 2023. The share of SUVs in the domestic market is expected to grow to 52-53% this year. The preference for SUVs has led to an increase in the average selling price of passenger vehicles in India. Maruti Suzuki and Hyundai are confident about the continued demand for the rest of the quarter.
The year of the SUV: When Indian automakers started riding higher
SUVs have seen a four-fold increase in their share among first-time buyers in the country over the past decade. About a third of first-time car buyers in the Indian market now drive home an SUV compared to less than a tenth a decade ago, when hatchbacks ruled the country's roads, according to industry data. The share of additional and replacement buying in the category during this period has fallen to 69% from a whopping 92% in 2014.
India's new-age car buyers are opting for brighter, single-model shades that define brands, personality
"Some colours go well with the brand value we are trying to communicate," said Shashank Srivastava, senior executive officer, marketing and sales, Maruti Suzuki India, the country's biggest carmaker. "We zeroed in on the Nexa Blue, after going through colours prevalent at fashion shows at the time, to connote sophistication and elegance."
The auto geek’s guide to India’s top selling cars
Sports utility vehicles, with their commanding road presence and sporty look, are the new favourites. Meanwhile, Hatchbacks still seem to be drawing in steady numbers for automakers.
India's craze for SUVs: There's more to it than meets the eye
The fall in sales of small cars and the rise in SUV sales may not be only due to Indians now ditching small cars and preferring to buy SUVs. Due to several factors, carmakers are focusing more on SUVs, making them affordable even if they have to downsize them in different respects, just as small-car segment crumbles under stress.
Passenger vehicles set for new sales milestone of four million units in FY24
The passenger vehicle segment is expected to reach a new peak this fiscal year, selling over 4 million units, with SUVs driving the demand. Sales of passenger vehicles have increased from 2.5 million units a decade ago to 3.8 million units in the last fiscal year. This year, industry experts predict sales to reach 4.1 million units, with SUV sales projected to be around 1.9 million units. The share of hatchbacks and sedans in the sales mix has declined, while SUVs continue to be strong growth drivers. Some manufacturers have exited the PV segment, reducing the number of brands in the market.
Mahindra to inspect over 100,000 XUVs for potential wiring issue
XUV is among SUVs such as Scorpio and Thar manufactured by Mahindra, India's second-largest maker of such vehicles by volume. Also, 3,560 units of XUV400 vehicle manufactured between Feb. 16, 2023 and June 5, 2023 will also be inspected for ineffective spring return action of the brake potentiometer, Mahindra added.
Kia Seltos facelift unveiled in India; Check new features
Kia India unveiled the updated version of its mid-sized sports utility vehicle Seltos on July 4 in the Indian market. The bookings will commence on July 14, and is expected to be available by September this year.
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