Top Indian Automobile Industry News & Updates - 09 April 2024,Tuesday
🏢 Industry
Goa's electric vehicle subsidy scheme falls short of targets
The scheme aimed at providing subsidies for purchasing electric vehicles (EVs) in Goa has not garnered the expected response from the public. Despite the state government's plan to subsidize 5,600 EVs annually, only a quarter of this target has applied for the subsidy.
Passenger vehicle sales moderate in March, FADA maintains cautious outlook for near-term
The automotive retail in India saw 21,27,177 vehicles sold across segments in March 2024, which was 3.14 percent higher compared to 20,62,409 units sold last year as per Federation of Automobile Dealers Associations (FADA). For FY2024, a total of 2,45,30,334 vehicles were sold, registering a smart uptick of 10.29 percent YoY.
Tesla making RHD electric cars for India in Germany
Tesla has reportedly kickstarted the production of right-hand driven (RHD) cars for the Indian market in Germany. Based out of Gruenheide near Berlin, this facility has a production capacity of 50,000 units per annum and will serve as an export hub from the RHD markets like India.
RBI decision to hold lending rates steady to hit auto sales, especially entry-level vehicles, say dealers
New Delhi: The Reserve Bank of India (RBI’s) decision to keep lending rates unchanged at 6.5 per cent would impact retail sales of all vehicles, especially entry level vehicles. This would hit the automotive sector, which already faces the challenge of a notable decline in consumer sentiment among urban Indians, as reported by the Centre for Monitoring Indian Economy (CMIE).
Kerala government’s advisory on EV charging holds plenty of lessons for power utilities
Kerala government's recent advisory to avoid charging electric vehicles (EVs) during evening hours has highlighted the mounting challenges faced by power utilities in managing electricity demand as EV adoption accelerates.
High on SUVs: India records all-time high passenger vehicle sales in FY24
It noted that the PV retail sales witnessed a milestone year due to improved vehicle availability, a compelling model mix, and the launch of new models. The association added that the sales also rose due to enhanced supply dynamics, strategic marketing efforts, and expansion in road infrastructure.
India looking at creating ‘integrated transport planning agency’ similar to ones in UK, US
India is looking at setting up an umbrella agency to formulate integrated transportation plans and drive the overall strategy across all modes of surface transport, railways, shipping and civil aviation at national level. The agency would be responsible for development and finalisation of 5-year and 25-year plans and their regular monitoring.
Indian road logistic industry to grow between 3-6 percent in FY2025 says ICRA
ICRA, a credit rating agency expects the revenues of the Indian road logistics industry to remain range-bound and grow at sedate pace of 3-6 percent in FY2025, given the limited ability of players to increase the freight rates, expected softening in government CAPEX during the elections (given the Model Code of Conduct requirements) and moderation in consumer demand sentiments amid high inflation and interest rates.
Hyundai, Kia ink MoU with Exide Energy to source LFP batteries for EVs in India
Hyundai Motor Company (Hyundai Motor) and Kia Corporation (Kia) have signed a Memorandum of Understanding (MoU) for strategic cooperation with Exide Energy Solutions (Exide Energy), a leading Indian battery company, as part of their electric vehicle (EV) expansion plans.
MG Motor India inks MoU with Adani TotalEnergies for EV charging solutions
Adani TotalEnergies E-Mobility (ATEL), a fully-owned subsidiary of Adani Total Gas (ATGL), and part of the diversified Adani Portfolio and MG Motor India have signed a Memorandum of Understanding (MoU) to strengthen the EV charging infrastructure in the country.
📝 Telangana's EV drive stuck in slow lane
📝 Tesla scouts for location to set up state-of-the-art manufacturing in India
📝 Tesla vehicles coming to India, Elon Musk drops a big hint
📝 Auto has enough horsepower to race on high-way and overtake
📝 Vehicle registrations rise by a modest 3% in March
📝 AI's role in the future of driving
📝 Tesla may have cancelled low-cost car plans. What does it mean for India?
📝 Reserve 5% GST benefit for smaller EVs: Skoda
Read More >>
🎤 Interviews & Features
Mahindra XUV 3XO teased: How will it be different from XUV300?
Mahindra recently announced the launch of the facelifted XUV300 in a rebranded avatar. Slated to make its debut on April 29, the heavily updated subcompact SUV is now named XUV 3XO. However, it’s not just the name but many other significant updates to be seen in the new XUV 3XO.
Will e-mobility go the biofuel way?
E-mobility seems to be the buzzword in India now. Almost every other day, some news comes out on how much progress India has made in the use of electric vehicle in the transport sector and how it helps in reducing carbon emission. While the progress in the use of e-vehicle is a fact, the carbon saving due to use of the same is highly exaggerated for the simple fact that India is still heavily dependent on fossil-based electricity for recharging e-vehicles.
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🚗 Cars / SUVs
MG Hector Blackstorm officially teased ahead of launch
MG has officially teased the Hector Blackstorm ahead of its official launch scheduled on April 10. The new Hector Blackstorm will be finished in all black, similar to the MG Astor and Gloster Blackstorm editions. The teaser image reveals a few more details and let’s take a closer look.
Top 5 Maruti Suzuki models sold in March 2024
Maruti Suzuki vehicles have been India’s best-selling cars for a long time, however, with customer preferences shifting, the carmaker is slowly slipping away from the top. Nonetheless, Maruti Suzuki is still the largest carmaker in India and here are the top 5 best-sellers for Maruti Suzuki in March 2024.
📝 Manoj Gautam succeeds Rajesh Uppal as IT Head at Maruti Suzuki
📝 Anand Mahindra teases stunning design of XUV 3XO (XUV300 Facelift): Here are likely launch date, price, other details
📝 Maruti is offering up to Rs 1.5 lakh discounts: Here are more details
📝 Mahindra XUV 3XO teased ahead of launch: Panoramic sunroof, XUV 400-inspired interiors and more
📝 Big discounts of up to Rs 1.59 lakh on this Mahindra SUV in April: Details
📝 JSW plans to buy a 35% stake in MG Motor India at ₹35.8 billion investment
📝 Honda Amaze: Launch expected sooner than initially speculated. Check details
📝 Top 10 SUVs in March: Tata Punch, Hyundai Creta, Mahindra Scorpio-N lead charge
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Electric-Cars / SUVs
Kia confirms India-bound Carens EV for 2025
Kia Corporation announced that the Indian market will receive three electric vehicles including the Carens EV and another mass-market product. The South Korean automobile manufacturer will launch the flagship EV9 in India this year. At the CEO Investor Day in Seoul, Korea, Ho Sung Song, Kia President and CEO said that the company wants to become a leading EV brand by diversifying sustainable models like hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs and increase the total sales. He added that the projected sales of electrified model sales is 2.48 million units annually which will constitute 58 per cent of Kia’s total sales in 2030.
Hyundai Ioniq 5 gets new colour options and interior updates
Hyundai India has enhanced the interior and exterior colour options for its flagship EV model, the Hyundai Ioniq 5. The all-electric SUV is now offered in four exterior colours including Titan Grey and two interior colour options including Obsidian Black.
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🚗 Luxury Cars
JLR wholesales up 25% to 401,303 units in FY24
New Delhi: Jaguar Land Rover (JLR), a wholly-owned subsidiary of Tata Motors, Monday reported that its full year ended March 31, 2024, wholesale volumes were 401,303 and retail sales were 431,733, up 25% and 22% respectively compared to the prior year; wholesale volumes and retail sales were up in all regions compared to the prior year reflecting improved production and sustained global demand, the company said.
BMW Group India begins Q1 2024 with 51% sales growth to 3,680 units
New Delhi: BMW Group India has posted strong business performance in the first quarter of 2024 (January – March). BMW Group India delivered 3,680 cars (BMW and MINI) and 1,810 motorcycles (BMW Motorrad). BMW sold 3,510 units and MINI 170 units.
Kangana Ranaut buys a brand new Mercedes Maybach after joining politics
She already has an existing S680 amounting to Rs 3.6 crore. However, there is no such information about whether she traded her previous car or simply expanded her collection with another car from the same brand.
📝 Kangna Ranaut pampers herself with second luxury car as she prepares for hard grind of election politics. What is the cost?
📝 Bollywood star turned politician adds Maybach GLS to garage. Check details
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🏍 2/3 Wheelers
Aprilia Tuareg 660 launch on April 16: What to expect?
With the middleweight adventure bike segment gaining prominence in the Indian market in recent times, it was only a matter of time when Aprilia decided to foray into this space. Aprilia recently announced that it will launch the Tuareg 660 in India, marking the Italian brand’s first-ever adventure motorcycle in the country.
2024 Yamaha MT15 V2, Fascino, Ray ZR get new colour options
As part of ‘The Call of The Blue’ brand campaign, Yamaha keeps bringing small updates to its India lineup. The latest set of updates have been applied to the company’s range of scooters– Fascino and Ray ZR– and the MT15 V2 naked streetfighter. These include new paint schemes and some nominal feature updates.
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🚲 Electric 2/3 Wheelers
Electric vs Petrol: Ather launches new family e-scooter ‘Rizta’, CEO Tarun Mehta says continuation of subsides vital
Tarun Mehta, the CEO and co-founder of e-scooter maker Ather Energy, has said India will need to continue subsidies for electric scooters for a few more years to boost the transition from polluting motorbikes.
Lectrix E2W high-speed e-scooter launched at Rs 49,999
Lectrix EV, the electric mobility arm of the SAR Group, has launched the E2W at Rs 49,999. Lectrix EV is the first OEM, particularly in India, to separate the battery from the vehicle and provide it to customers as a service.
Ather Rizta vs TVS iQube electric scooter comparison
The TVS iQube has proved to be the perfect family scooter, owing to its dimensions, the space it offers, and its friendly nature. Now, Ather has joined the club with the launch of the Rizta, targeted at families. Here’s a quick comparison between the Ather Rizta and the TVS iQube in terms of features and how their battery packs compare.
📝 Small towns make it big for Ather’s electric two-wheeler sales
📝 Planning to buy an Ather Halo smart helmet? Key things you should know
📝 Ather Rizta vs Ola S1 Pro, Vida V1 Pro, TVS iQube, Bajaj Chetak: Prices compared
Read More >>
🌇 Allied Industries
Steelbird records 27% growth in FY24; to launch 20 new helmets this fiscal
Steelbird Hi-Tech, one of the world’s largest helmet makers has announced its revenue for FY2024 came at 711 crore, up 27 percent YoY.
SKF appoints Mukund Vasudevan as new MD for India and President for Industrial Region, India & Southeast Asia
SKF a world-leading provider of innovative solutions that help industries become more competitive and sustainable, has announced the appointment of Mukund Vasudevan as the new Managing Director, India and President for Industrial Region, India & Southeast Asia (ISEA) effective April 8, 2024.
Advik acquires business assets of UK-based lithium-ion battery maker Aceleron Energy
Pune-headquartered tier 1 supplier Advik has acquired business assets of Aceleron Energy, a UK-based advanced lithium-ion battery company.
Ather Energy launches Halo helmet line: What is it?
Ather Energy has announced its entry into the smart helmet segment by launching the Ather Halo line at the 2024 Community Day. The Bengaluru-based electric two-wheeler manufacturer has two helmets: the flagship full-face Halo, and for half-face helmets, there’s a module controller called the Halo Bit. The Halo and Halo Bit were launched at an introductory price of Rs 12,999 and Rs 4,999, respectively. Ather Energy created the helmets from start to finish, including the padding. Both helmets are ISI and DOT-certified.
📝 India remains net importer of finished steel in FY24; inbound shipment grows 38 pc to 8.32 MnT
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🌢 Fuels, Lubricants & Charging Stations
India's fuel demand hits new FY record, up about 5%
India's fuel consumption fell 0.6% year-on-year in March, but demand for the 2024 financial year was up about 5%, primarily driven by higher automotive fuel and naphtha sales.
📝 Big players enter fray to bid for EV infra in city
📝 Oil at USD 100? Will oil prices hit a century this summer as a global shortage takes hold?
📝 Petroleum dealers demand ECI exemption for cash movement
📝 Share of Russian oil in India's imports rises to 35% in FY24
Read More >>
📖 Magazines News
Tata Punch EV on discount for first time
Source Credit: Autocar India
The Tata Punch EV is being offered with discounts and benefits of up to Rs 50,000 for the first time since its launch in January 2024. However, this maximum amount is only available on the top-spec Punch EV Empowered +S LR AC fast charger (FC) variant.
Ather, Bajaj, TVS, Vida prices up by up to Rs 16,000
Source Credit: Autocar India
The new EMPS (Electric Mobility Promotion Scheme) has come into effect from April 1 and nearly all Indian electric two-wheeler manufacturers have revised the prices of their products. Here’s the detailed break-up of the three largest players.
Entry-level Tesla Model 2 project scrapped
Source Credit: Autocar India
The long-awaited entry-level Tesla Model 2 EV will not go into production as the American brand seems to have scrapped the project, Reuters reports. The Tesla Model 2 was tipped to come to the market at less than GBP 25,000 (about Rs 26 lakh) as a Volkswagen ID 2, Renault 5 and MG 4 EV rival.
Maruti eVX SUV (YY8) launch delayed by a few months
Source Credit: Autocar India
The launch of Maruti Suzuki's eVX SUV seems to be delayed by a few months, according to our sister publication Autocar Professional. The brand is currently trying to address multiple battery supply and software challenges that have delayed the start of production (SOP) by at least five months.
Ather Rizta vs rivals: specifications comparison
Source Credit: Autocar India
The brand-new long-awaited Ather Rizta has been finally launched and here we’ve put it up against its closest competition. We’re comparing all variants of the Rizta against all the variants of its rivals, except in the case of the Ola, where we’ve only chosen the top-spec S1 Pro. While you can get more affordable variants of the S1 lineup, we’ve chosen to consider the top-spec S1 Pro as that's the closest rival to the Riztafor the purposes of this comparison.
Mahindra XUV 3XO new teaser confirms panoramic sunroof
Source Credit: Autocar India
Mahindra’s latest teaser video of the upcoming XUV300 facelift (dubbed XUV 3XO) confirms that it will be equipped with a panoramic sunroof, something we confirmed last August. While the feature is expected to be reserved for the high-end trims, the XUV 3XO will be the most affordable SUV in India to be offered with a panoramic sunroof.
Jeep Meridian gets up to Rs 2.80 lakh discount this month
Source Credit: Autocar India
Jeep is offering attractive benefits on its entire portfolio for April 2024. Read on to see how much you can save on the purchase of a new Jeep SUV.
Read More >>
📰 International News
TSMC to make world's most advanced semiconductors in US, gets $6.6 billion subsidy
The US Commerce Department has signed an accord with Taiwan Semiconductor Manufacturing Company (TSMC) to build the world's most advanced semiconductors at Arizona in Phoenix by the end of 2030. It has also awarded $6.6 billion as subsidy and $5 billion in low-cost government loans to TSMC for the advance production unit, aimed to boost the supply chain of semiconductors in the US, Reuters reported.
Bangkok motor show reports 28% rise in orders, Toyota leads sales
Thailand's Bangkok International Motor Show recorded a 27.5% rise in orders, with Toyota leading sales, while traditional cars still dominated despite electric vehicles gaining pace, its organiser said on Monday.
Tesla trial to size up cause of fatal autopilot crash: driver or tech
Tesla is preparing for one of the biggest tests of its driver-assistant Autopilot: defending the company’s position that drivers, not the automaker, are ultimately responsible for crashes that involve the technology.
Toyota will oversee model certification at subsidiary Daihatsu after safety testing scandal
Japanese automaker Toyota will oversee model certification at its subsidiary Daihatsu to regain trust among dealers, customers and workers after a safety testing scandal, Daihatsu's new president said Monday. Toyota Motor Corp. will take a leadership role in various areas, including product development and procurement, said Masahiro Inoue, who took the helm of Daihatsu in March.
Think Tesla is in trouble? Pity even more its wannabe EV rivals
In recent months Tesla has had a bumpy ride. In January the electric-vehicle (EV) pioneer warned that growth would be “notably lower" this year, as motorists’ enthusiasm for battery power loses charge. The same month it had to suspend most production at its giant factory near Berlin because of supply disruptions caused by turmoil in the Red Sea. Its market share in China, the world’s biggest EV market, is falling as it fends off cheaper local competition, especially from BYD, which late last year briefly eclipsed Tesla as the world’s biggest EV-maker.
Ferrari steps up battery cell research centre- though no plans to make them
Ferrari wants to increase its expertise in battery cells given their importance in its shift to electrified vehicles, but it has no plans to manufacture them itself, its CEO Benedetto Vigna said on Monday.
China's Didi, GAC Aion to mass produce robotaxis next year
Chinese ride-hailing giant Didi Global said its self-driving unit's joint venture with EV maker GAC Aion has received a business license, registering itself as the first JV in China for mass production of fully self-driving electric robotaxis in the country.
Will China flood globe with EVs, green tech? What's behind latest US-China trade fight
China's burgeoning production of electric cars and other green technologies has become a flashpoint in a new U.S.-China trade fight, highlighted by Treasury Secretary Janet Yellen during her five-day visit to China and seized on by former President Donald Trump in incendiary remarks on the campaign trail.
France funds effort to deploy 10,000 EV chargers
A unit of France's national development bank said on Monday it had teamed up with an operator of electric vehicle rechargers to finance the deployment of nearly 10,000 points at businesses switching their fleets of vehicles.
China commerce minister begins Europe trip defending Chinese EV sector
Wang Wentao held a roundtable meeting in Paris on Sunday with representatives of 10 Chinese EV firms including BYD , CATL and Geely, ahead of talks on a European probe into whether Chinese EVs have benefited from unfair subsidies.
Renault surpasses Nissan in market value
📝 CMA CGM Group joins Renault and Volvo to form Flexis SAS for e-van venture
📝 China top EV forum to be held in California in May
📝 Updated Volvo car models, and electric EC40 and EX40 versions on sale in UK
📝 Elon Musk hypes robotaxi to rescue Tesla's tumbling stock
📝 View: Sometimes, to make an electric car better, you've got to make it a little worse
📝 For US Army, hybrids may make far more sense than all-electric vehicles
📝 Tesla settles case over fatal Autopilot crash of Apple engineer
Read More >>
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