MOTOWN
Motown, slowtown: Luxury car sales slow in line with broader slowdown in Indian auto market
Carmakers attributed the sluggish performance to a broader slowdown in the Indian car market, besides intense heat waves this summer, and an extended general election. Some experts also cited a shift in spending by the wealthy to experiences such as bespoke holiday itineraries.
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.
Fantastic four - Hyundai, Tata, M&M and Toyota - fire up Motown, drive into record books
2023 was the third straight year of record sales for Tata Motors, which boasts the widest range of electric vehicles in its portfolio. Sales last year totalled 553,000, "led by its commanding position in the compact SUV segment and strong growth in hatches, despite the hatch segment degrowing at an industry level", said Shailesh Chandra, managing director, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility.
Motown pitches for continuation of FAME scheme for electric vehicles
Amid uncertainty over the extension of the FAME scheme, the auto industry has once again emphasized the need for ongoing government support to ensure a successful transition to electric vehicles (EVs). During a panel discussion on sustainable mobility, industry leaders stressed that India requires significant incentives and support from the government. While major automakers advocate for assistance, entrepreneurs in the EV sector call for a policy shift, focusing on localization and support for small and medium-sized enterprises.
Predictions for 2024: Small cars may lag in a good year for motown, says RC Bhargava, Maruti Suzuki
The current year can be said to be as normal as 2022-23, except that small car sales will have fallen below the previous year numbers. Overall, passenger vehicle sales in 2023-2024 would be at record levels of about 4.13 million. However, the annual sales growth from the 2018-19 levels up to this year would still be under 4%. The 2023-24 growth rate would be a little over 6%.
Motown spreads Christmas cheer with best deals in 5 years
Several dealers and industry executives ET spoke to said discounts on vehicles have increased by 25-50% over the same period last year, with stocks in the channel burgeoning to 700,000 units after Diwali. Carmakers have not yet planned any production cut to balance inventory but annual maintenance shutdowns at companies like Maruti Suzuki later this month are expected to help pare dealer stocks, industry watchers said.
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New buyer age: Young and restless driving change at motown’s luxury street
According to senior auto industry executives, the 'YOLO' (You Only Live Once) attitude in the aftermath of the pandemic has spawned a rise in the indulgence quotient in terms of buying luxury goods such as cars.
‘Dancing With The Stars’ Season 32: Check full list of eliminations
This tense elimination process continues, leading up to the grand finale event when one pair will be crowned the new champion.
SUVs now drive half the sales in India's Motown
SUVs now account for 50% of all passenger vehicle sales in India, doubling their market share in five years. This shift in buyer preference towards larger vehicles has come at the expense of small cars. The popularity of SUVs is due to a wide range of models and their higher road presence, which is seen as a sign of value. SUV sales have grown to comprise 48.3% of total vehicle sales in the first half of this fiscal year, while the share of hatchbacks has slipped to 30%. The share of sedans has also declined.
India's automotive industry to be worth $1 trillion by 2035: Report
The Indian automotive industry is expected to be worth $1 trillion by 2035, according to a report. This includes an additional $400-billion-plus from design, development and other technology areas as the country transforms itself into a global automotive hub, it said. India's automotive manufacturing industry will have to make an investment of $100-150 billion till 2035 to ensure that it hits the $600 billion mark
Motown Inc may get Rs 50,000 cr fuel to drive green technology
The Indian government may allocate up to Rs 50,000 crore to promote green technologies in the automobile sector, according to Ministry of Heavy Industries memos. The funds could be used to launch the next phase of the Faster Adoption and Manufacturing of Hybrid & Electric Vehicles in India (FAME) scheme, incentivise green technology manufacturing or provide vehicle buyers with support.
New launches, Bharat & chip supply unite to likely help motown achieve record car sales in July
Around 345,000-346,000 vehicles are expected to be sold in the domestic market by the close of this month, compared with 342,000 units a year earlier. This would be the highest July sales on record in the Indian market. The highest monthly passenger vehicle sales were 355,000 units, recorded in September 2022.
Jury finds Ed Sheeran didn't copy Marvin Gaye classic
A jury has ruled in favour of Ed Sheeran in a copy infringement case brought by the heirs of songwriter Ed Townsend regarding his hit song "Thinking Out Loud". The heirs claimed the song had "striking similarities" and "overt common elements" that made it obvious it had copied Marvin Gaye's "Let’s Get It On". Sheeran's lawyers argued the two songs shared an unprotectable chord progression freely available to all musicians. Sheeran, who hugged his lawyers after the verdict, portrayed the trial as a threat to all musicians who create their own music.
Motown singer and songwriter Barrett Strong passes away at 81
Barrett Strong rose to fame as the singer on Motown’s first hit ‘Money (That’s What I Want)’.
Auto Expo 2023: Where to buy tickets, timings, and what you shouldn't miss
This year, the Auto Expo is being organised at two venues: Auto Expo Component Show is going on at Pragati Maidan in Delhi while the Auto Expo Motor Show is being held at the India Expo Mart in Greater Noida. Visitors can book the expo tickets on BookMyShow. Tickets for January 13 are priced at Rs 750. On January 14 and 15, tickets will cost Rs 475, while on January 16 and 18, it will cost Rs 350.
Motown legend Marvin Gaye's wife Janis Hunter Gaye dies at 66, read details
Janis Hunter Gaye, Marvin Gaye's former wife who inspired some of his songs, died on Saturday at the age of 66 at her home in Rhode Island.
Kiki Dee: See where is she and who is her husband
Pauline Matthews, popularly known as Kiki Dee, is an English vocalist. She was renowned for her blue-eyed soulful singing and was among the first singers from the UK to perform with Motown's Tamla Records.
YoungBoy Never Broke Again and Motown Records sign new agreement
American rapper YoungBoy Never Broke Again will use Motown Records to showcase his abilities. According to Billboard, NBA YoungBoy will resign from Atlantic Records, where he released four albums and more mixtapes to release music under the Motown banner in 2023.
Motown sees sales slump 11% in August as firms cut output
Passenger vehicle sales in India fell from a month earlier in August, as automakers curtailed production of cars and SUVs despite strong demand due to a shortage of semiconductors.
India takes diplomatic route to drive Motown out of the chip mess
New Delhi has reached out to Berlin, Washington, Tokyo and Taipei through diplomatic channels, urging them to prioritise the supply of semiconductors to the region so that plants in Manesar, Pune, or Chennai continue to roll out the best in the busiest season for cars.
2021: Motown to see steady pace in new year, may continue to see a lot of pent-up demand
The coronavirus pandemic has clearly established the role of private vehicles, edging out shared mobility in the process. Through a gradual recovery, the industry will get back to its original pre-Covid production by June 2021, say auto makers.
Sharp rebound for auto sector: Hiring picks up in Motown as companies restart production
Bulk of the job postings were in the month of June as automakers restarted production. Data from staffing firm Xpheno showed the automotive industry had over 8000 jobs in July across sectors.
Motown, govt officials to brainstorm soon on slamming brakes on imports from China
Govt officials will soon meet executives of auto firms to prepare a road map aimed at localising production.
Covid strikes motown: 140 test positive in Bajaj Auto's Aurangabad plant
The manufacturing facility in question had resumed production on 24th April and the first instance of an employee testing positive for the novel coronavirus was reported June 6, the statement read. The company reported all the cases to local authorities and all safety protocols were followed.
Automotive industry lobbies with the home secretary for a comprehensive restart, requests for essential services tag
The automotive industry in India was going through a severe demand downturn for over 15 months preceding the lockdown. With the outbreak of the Covid-19 pandemic, the industry was now confronted with total disruption of its entire value chain with challenges of working capital across the sector.
Motown wants agile manufacturing post Covid-19 pandemic
In fast-moving mass production industries like automobiles, production schedules are rigid and optimised for efficiency. Similarly, supply chains work on schedules decided months in advance on the basis of demand projections.
Auto companies may inject Rs 35,000 crore to drive up sales
Carmakers like Maruti & Hyundai are likely to invest around Rs 30,000 cr, mostly in launching new products.
It's amber light for motown as demand unlikely to revive in FY21, says report
IndRa has revised downwards its outlook on the sector to negative for 2020-21 from stable.
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