Tata Tech, BMW Group’s new JV in India to focus on automotive software and IT development
Tata Technologies and BMW Holding, Netherlands have announced a joint venture (JV), which the luxury automaker says will aid in engineering premium products, delivering great digital experiences for its customers and propelling its digital transformation journey.

India EV policy to help global car companies expedite investment decisions: Skoda senior executive
India’s recently announced electric vehicle policy will help global carmakers expedite decisions on investing in manufacturing EVs in the country besides allowing brands gauge customer response to premium EV models in a value conscious market, said a senior executive at the local arm of Czech carmaker Skoda Auto.

India's new EV policy allows imports from any country, including China: Official
New EV policy: No restrictions on imports from any country, including China

Green mobility: Nitin Gadkari vows to eliminate petrol, diesel vehicles

What did Nitin Gadkari say about petrol/diesel cars?

Despite subsidy cuts, EV sales zoom 41% in FY24; penetration at 6.8%

Total EV registrations in FY24 surpassed 1.6 million, which is significantly higher than last year’s 1.1 million.

Car sales reach all-time high of 4.2 million powered by growth in SUVs, EV and CNG segments
 

Opinion: How India can transform EV challenges to opportunities
India’s electric vehicle (EV) revolution is at a pivotal juncture, with a promising growth trajectory. While EVs accounted for 5% of total vehicle sales between October 2022 and September 2023, our research suggests EV penetration will surpass 40% by 2030 (with USD 100 billion revenue potential), driven by robust adoption in the two-wheeler (2W) and three-wheeler (3W) segments, exceeding 45% penetration in each.

Will Delhi government’s EV drive send IGL on a bumpy ride?
In September 2001, when CNG buses were made mandatory in Delhi, it was a defining moment for Indraprastha Gas Limited (IGL), a joint venture between state-owned GAIL and BPCL. Twenty-three years, 819 pumps, and a phenomenal growth story later, the company is facing an existential challenge – that too from another clean-energy sector.

Some are transforming better than others to stay relevant in the EV space: 6 auto ancillary stocks with upside potential of up to 32%
Auto ancillary space which has been going through a transformation. In this space the companies and their management can be divided into 4 categories, first players who were quick enough to understand and started work on this year's back. Infact many auto ancillary players had started this process even before auto majors announced their intentions. Second, companies which were late due to a valid reason, because they were dependent on the company which they were supplying part and that company itself was not clear its plan on EV space. Third, companies which were not able to anticipate that speed at which transition to EV would come. It has come much faster as compared to what was expected. Fourth, companies who cannot make that transition because their products are not required in an EV. There is a sub category in this fourth one where some companies are making adjustments to stay relevant in EV space.

2024 Kia Carens updated, gets new features, 6-seater variants
After Sonet, Kia has updated the 2024 Carens in India. The premium MPV has gained a few creature comforts along with a new transmission option and a new seating layout. The latest update has added seven new variants to the Carens range, taking the tally to a total of 30 variants.

Downhill ride: Six reasons why Honda’s Creta-rival failed to Elevate the carmaker’s India fortune
“When the race gets a new destination and the world looks up to you, you know you aren’t just a contender, #YouAreTheChase!”.

Battle of Affordable Compact SUVs - Nexon’s Price Against Venue Costs
The compact SUV segment in India has seen tremendous growth in recent years. With improved infrastructure and gradual urbanisation, many first-time buyers opt for a practical compact SUV over traditional sedan or hatchback models.

New Skoda Superb India launch tomorrow — Here’s what to expect
Skoda is set to relaunch the new Superb in India tomorrow, which will be available in limited numbers, according to various sources and dealers. The new Skoda Superb will be available in a single top-spec L&K variant and will be sold as a CBU in India.

Skoda enhances its digitalisation, launches NFT-driven Digital Community
Skoda has already lead the way in the new era with the announcement of its all-new compact SUV. With an initiative of user engagement, customer involvement, and digitalization they have introduced 360-degree digital activities that help them to engage with their audience and Skoda enthusiasts more closely. 

Kia India launches 6-seater 2024 Carens at INR 12.12 lakh and 1.5 Diesel MT Carens at INR 12.67
New Delhi: Kia has announced the launch of 2024 Refreshed Carens with a new 6-speed 1.5 Diesel manual transmission in U2 1.5 VGT engine variant. This new addition expands the trim lineup to a total of 30 options, solidifying Carens' position as the segment leader in offering a diverse range of trims.

Maruti Suzuki India’s ED – Engineering, Tapan Sahoo, appointed as Head -- Digital Enterprise
New Delhi: As part of its overall growth strategy, Maruti Suzuki is also stepping up its efforts on digital technologies beyond vehicles too. That’s what its ‘Digital Enterprise’ was set up for in the organisation. ET Auto learns that the Digital Enterprise will now be headed by Dr. Tapan Sahoo, who held the position of ED – Engineering till March 31.

Honda Amaze variants reduced ahead new-gen launch
Honda has reduced the number of variants on offer in Amaze. This comes a few weeks after reports of the Japanese auto giant developing a new-gen model of Amaze were first published. The compact sedan is the most affordable model from Honda in India, with prices starting at Rs 7.93 lakh (ex-showroom).

'Wait for 7 months'; Buyers line up as Xiaomi launches new SU7 sedan EV

Partnering with a unit of state-owned automaker BAIC Group, Xiaomi is set to produce its cars in a Beijing factory with an annual capacity of 200,000 vehicles. The company has pledged a hefty $10 billion investment over the next decade, positioning itself as one of the few newcomers in China's EV arena to gain approval from authorities amidst concerns over a supply glut.

Audi India reports 33% rise in retail sales in FY24
New Delhi: Luxury carmaker Audi India on Tuesday reported 33 per cent increase in retail sales at 7,027 units for the fiscal ended March 31, 2024. The German automaker had sold 5,275 units in the country in 2022-23 financial year. "We have seen a robust growth of 33 per cent in FY24 on the back of a diverse portfolio. Our product portfolio continues to witness strong demand and we are poised to overcome supply challenges," Audi India Head Balbir Singh Dhillon said in a statement.

Audi sells 7,027 cars in FY 2023-24, grows by 33%
Audi is one of the most prominent luxury car OEMs in India. The German brand has recorded an annual sales of 7,027 cars in the outgoing FY 2023-24, resulting in an overall growth of 33% over the previous fiscal. Audi retailed 1,046 units in the first quarter of CY2024.

Commercial vehicle sales feel the pinch of slowdown in H2FY24, passenger buses, vans buck trend
The sales of commercial vehicles in India began on a promising note last April, but the segment has now ended FY2024 flat.

E-CV segment gears up for action in FY25
New Delhi: The past two years have seen the building up of an electric vehicles (EVs) momentum. While the speed of adoption has been varying among different segments, this year, it seems, the last mile cargo mobility space is catching up in the race.

With BharatBenz in a sweet spot, Daimler aims for the sky
New Delhi: From Satyakam Arya’s point of view, Daimler India Commercial Vehicles (DICV) is well and truly poised on the fast track of growth.

2W sales hit a six-year high in March
Two- Wheeler sales hit a six year high in March with volumes rising 16% year-on-year to 1.52 million units aided by positive buyer sentiments, new launches and easy finances. The domestic volume figure includes electric two-wheelers also which had seen a huge space in demand following uncertainty over government's continuance with its subsidy scheme and a reduction in the subsidy itself. 

TVS registers highest-ever sales in FY24 with 12% growth
TVS Motor Company registered a growth of 12% with sales increasing from 3,17,152 units in March 2023 to 3,54,592 units in March 2024. Total two-wheelers registered a growth of 12% with sales increasing from 3,07,559 units in March 2023 to 3.44,446 units in March 2024.

New-gen KTM Adventure 390, Enduro 390 spied in India for first time
KTM upgraded the Duke range with a new generation last year. The Austrian brand is now working on upgrading its Adventure range which should hit the roads in the coming months. Prototypes of the new-gen Adventure 390 have been spied on multiple occasions on foreign soil.

Bajaj’s domestic two-wheeler sales see 20% growth in March 2024
Bajaj has announced its two-wheeler sales details and in March 2024, the Pune-based two-wheeler manufacturer registered total sales of 3,13,885 units of two-wheelers, registering a YoY growth of 27 percent. In contrast, Bajaj sold 2,47,002 two-wheelers in March 2023.

Honda Motorcycle and Scooter domestic sales surge 81 pc to 3,58,151 units in March
Honda’s domestic sales surge 81% to 3,58,000 units in March
The Indian Express

Hero MotoCorp records 56 lakh unit sales in FY24, 4.9 lakh units in March
 

Bajaj Auto shares climb nearly three per cent
 

Except Hero MotoCorp, all other OEMs report growth in two-wheeler sales in March
The country’s top two-wheeler manufacturer, Hero MotoCorp, has reported a decline of around 9 per cent yea-on-year (y-o-y) in its domestic wholesales (dispatches to dealers), while companies such as Honda Motorcycle & Scooter India (HMSI), Bajaj Auto and TVS Motor Company reported in higher single-digits or double-digit growth during the month.

AMO Mobility launches Jaunty i Pro high-speed E2W at INR 1.15 lakh
New Delhi: Noida-based electric two-wheeler manufacturing startup AMO Mobility has launched Jaunty i Pro, a new age high-speed smart two-wheeler, priced at INR 1.15 lakh.

Lohia Machines Limited to relocate its headquarters in Gurgaon
Lohia Machines Limited announces the erstwhile Honda Office in Gurgaon to be their new headquarters which will be effective from April 1, 2024. This will be the LML global-level office with all the modern infrastructure. 

Hero Lectro H4 and H7+ e-Cycles launched at Rs 32,499
Hero Lectro, the e-cycle brand of Firefox Bikes, has unveiled its latest offerings: the H4 and H7+. Available at introductory prices of Rs 32,499 and Rs 33,499 respectively, these models are crafted for the Indian market.

Zen Mobility partners ElectroRide to open first EV experience centre in Delhi NCR
Gurgaon-based EV start-up Zen Mobility has announced the expansion of its retail presence in Delhi NCR through a partnership with ElectroRide, a prominent electric vehicle retail provider. This partnership will enhance the accessibility of Zen Mobility’s multi-purpose EV’s to retail customers in the Delhi NCR. 

Electric two-wheelers weigh the cost of subsidy cuts
A steep reduction in subsidies on electric two-wheelers is set to increase prices for the second time in a year, by up to ₹12,000 in FY25. Will it undermine growth in an industry that is already facing multiple headwinds? Mint finds out.

Servotech Power Systems and Electra EV partner for new EV charging technologies
New Delhi: Servotech Power Systems Ltd., a developer of EV chargers and solar solutions, and Electra EV, a leading electric vehicle powertrain solutions company, have announced a collaboration for a jointly-owned EV charger technology, on which they have recently applied for patents.

Log9 Materials’ LTO batteries get BIS certification
Bengaluru-based advanced battery solution company Log9 Materials has announced today its LTO (Lithium Titanate Oxide) batteries have received certification from the Bureau of Indian Standards (BIS).

Apollo Tyres faces twin speedbumps of rising costs, weak demand
Apollo Tyres Ltd stock has underperformed the market over the past month. Investors have understandably turned cautious amid the recent spike in prices of rubber, and demand is expected to be weak in the near term. But the company does have a cushion, with high-margin segments growing their share and debt falling.

Vegan footwear brand Paaduks recycles tyres to offset CO2 emissions
Chennai: Paaduks, a leading sustainable and vegan footwear brand in India,  has recycled an average of five lakh tyres annually over the past four years, totalling nearly 26 lakh kg of tyres. The  recycled tyres have helped offset 60.33 lakh kg of CO2 emissions.

Kotak Bank sees growing demand for used tractor loans
Mumbai: Kotak Mahindra Bank said it expects financing for used tractors to grow faster than new tractor funding due to rising prices of new tractors and higher cost of labour. “Tractor prices have gone up by 20-25 per cent in the last two years. This has a definite impact of affordability,” said Shripad Jadhav, President - Retail, Agriculture and Gold Loans. This is also being reflected in FY24’s tractor sales which are expected to be 7-8 per cent lower compared with a growth of 12.2 per cent in FY23, he added.

Mahindra Finance posts Q4FY24 disbursements at Rs 15,300 crore, up 11% YoY
Mahindra & Mahindra Financial Services on Tuesday announced that the company has recorded Q4FY24 disbursements at about Rs 15,300 crore, up 11 per cent on-year. For the full year, the disbursement came in at approximately Rs 56,200 crore, registering a growth of 13 per cent YoY. For March 2024, the company estimates the overall disbursement at approximately Rs 6,100 crore, reporting a 9 per cent growth over the previous year.  

Banks look to grow used vehicle portfolios
Banks are focusing on increasing their market share in the used-vehicle category in a bid to increase margins. They are leveraging their access to low-cost funds and large branch networks to make inroads in both the used-car and used-commercial vehicle categories where NBFCs have enjoyed the lion’s share.Axis Bank, HDFC Bank, ICICI Bank and YES Bank have partnered with platforms like Rupyy to disburse used-vehicle loans.“…as we progress, we will keep increasing our footprint in the used-vehicle segment due to better rate of interest,” Anil Bhavnani, senior executive vice president, HDFC Bank, said in a recent webinar.

Different wheelbases for new BMW 5 Series and i5 EV in India
Source Credit: Autocar India

We have already reported to you that BMW is readying the eight-generation 5 Series for launch during the festive season in India this year. Now, we have new details about the wheelbase and powertrains that’ll be on offer – the new 5 Series will be available in both ICE and electric versions in India, and both will be offered with a different wheelbase.

Toyota Innova Hycross ZX (O) bookings re-open, prices hiked
Source Credit: Autocar India

The Toyota Innova Hycross ZX and ZX (O) variants are now available for booking again, as per the company's official website. Bookings for the two variants were temporarily halted in April last year due to supply-related issues. The prices of the Innova Hycross hybrid have also been hiked, effective April 1, 2024.

Next-gen KTM 390 Adventure, 390 Enduro spotted
Source Credit: Autocar India

The next gen KTM 390 Adventure has been spotted tested again, but this time alongside the new 390 Enduro which has been spotted in India for the first time. These clear spy shots are a great hint at what we can expect from both bikes.

Hero, Bajaj sales rise as TVS, Royal Enfield decline in March 2024
Source Credit: Autocar India

Sales figures for the last month of FY24 have been released and here’s how each company performed. 

Maruti Fronx gets discounts of up to Rs 68,000 this April
Source Credit: Autocar India

Maruti Suzuki is offering attractive benefits on almost the entire Nexa line-up this month, including on popular models like the Grand Vitara, Baleno and Fronx. These can be availed in the form of cash discounts, exchange offers as well as corporate benefits. The only model not listed with any benefit this month is the Invicto MPV.

Discounts of over Rs 60,000 on Maruti Alto K10, WagonR, S-Presso, Celerio
Source Credit: Autocar India

In April, Maruti Suzuki Arena dealers are offering a host of benefits including cash discounts, exchange bonuses and other benefits on a range of models, similar to last month. The Maruti Suzuki Alto 800, Alto K10, S-Presso, Wagon R, Celerio, Swift and Dzire are all being offered with the same discounts as last month. Just like the previous months, the Brezza and Ertiga are not available with any discounts.

Honda Elevate now starts at Rs 11.91 lakh after fresh price hike
Source Credit: Autocar India

Honda has increased the prices of its Elevate mid-size SUV for the second time since its arrival in India back in September last year. This time around, the Hyundai Creta and Kia Seltos rival has become dearer by up to Rs 40,000, depending on the variant.

Kia Carens diesel MT launched at Rs 12.67 lakh, variants rejigged
Source Credit: Autocar India

For the 2024 model year, Kia has expanded the Carens trim line-up from 23 variants to 30 variants, with the addition of a new diesel-manual powertrain. The carmaker has also updated the existing variants with a range of new features, along with the introduction of a new paint scheme.

Updated Bajaj Pulsar N250 launch soon
Source Credit: Autocar India

Bajaj has sent us a first ride invite for the updated Pulsar N250, which is slated to be held on April 10. This leads us to believe that the refreshed model will be launched on that date, if not sooner. 

US new vehicle sales likely rose in Q1, to extend recent streak
U.S. auto sales likely rose by a mid single-digit percentage in the first quarter, adding to gains made last year on sustained appetite for crossover SUVs, pickup trucks and better supply of new vehicles, analysts say.

China's oil majors face uphill climb to adapt to EV future
Tucked away on a side road in suburban Beijing, the Xiaowuji battery charging station opened by Sinopec in December 2023 offers a glimpse of China's post-gasoline future.

US climate law has boosted solar, batteries; hydrogen, other initiatives lag
The U.S. has doubled the pace of cutting carbon emissions since President Joe Biden's Inflation Reduction Act (IRA) passed in 2022, analysts and scientists said, with more than 80 solar, wind and energy storage projects taking advantage of the law's mix of direct payments and tax credits.

Former head of Chinese automaker JAC under investigation for corruption
The former party secretary and chairman of Jianghuai Automobile Group (JAC), An Jin, is under investigation for corruption, China's anti-graft watchdog said.

Tesla misses Q1 delivery estimate on slowing EV demand, tough competition
Tesla missed market expectations for first-quarter deliveries on Tuesday, as it battled competition from upstarts and established players in major markets, while struggling with weak demand for its aging line-up of electric cars.

Sigma Lithium outlines USD 100 million investment plan to double output in Brazil
Sigma Lithium on Monday made a final investment decision to add a second production line at its Greentech Industrial Plant in Brazil, aiming to nearly double lithium output, sending its shares up 6% in morning trade.

EV startup Canoo's 2024 revenue forecast disappoints, shares tumble
Electric vehicle maker Canoo forecast 2024 revenue well below analyst expectations on Monday, amid a broader slowdown in demand for battery-powered cars that has hit startups and forced major automakers to push back EV investment plans.

IKEA Foundation backs emerging market EV push with USD 100 mn grant
A global initiative to accelerate electric vehicle uptake has received a USD 100 million funding boost from the IKEA Foundation to help developing countries bypass gasoline-driven vehicles and go straight to the greener alternative.