Top Indian Automobile Industry News & Updates - 10 April 2024,Wednesday
🏢 Industry
Passenger, two-wheeler inventory dip in March: FADA
With sustained demand owing to the wedding season, and entry-level pickup, the passenger vehicle and two-wheeler inventory levels saw a dip in March. The passenger vehicle inventory was between 40- 45 days while the two-wheeler inventory was between 10-12 days in March according to the Federation of Automobile Dealers Associations (FADA).
EU-India Collaborates to Promote EV Battery Recycle Technology Innovations
The European Union (EU) and India have partnered in a significant step towards promoting innovation in the field of Battery Recycling Technologies for Electric Vehicles (EVs).
Q4 Results Preview: Auto companies to post stronger earnings led by PV, 2W/3W; TVS Motors, Tata Motors to lead the pack
The automobile sector is expected to witness a strong quarter, reporting a growth of over 15-30 per cent in EBITDA led by passenger vehicle (PV), two-wheeler (2W) and three-wheeler (3W) companies, according to analysts.
Ola Cabs to exit international markets this month
Ride-hailing major Ola Cabs has decided to shut down its existing operations in the international markets like the UK, Australia, and New Zealand by the end of this month.
Kinetic Group inaugurates Arun Firodia Research Floor at IIT Powai
Pune: Arun Firodia, an alumnus of IIT Bombay, has significantly influenced India’s engineering and automotive landscape, epitomising innovation, entrepreneurship and a steadfast commitment to advancing engineering education.
Top two-wheeler players Hero MotoCorp, HMSI lose market share as others, EV makers gain
New Delhi: The top two two-wheeler players, Hero MotoCorp and Honda Motorcycle & Scooter India (HMSI), lost market share in FY24 even though they sold more vehicles last year compared with the previous year. According to the latest data shared by Federation of Automobile Dealers Associations (FADA), Hero MotoCorp sold 53.96 lakh two-wheelers in FY24 compared with 51.35 lakh units in FY23, but still its market share came down to 30.80 per cent in FY24 (32.04 per cent).
Tesla electric vehicles entry into India will be "natural progression", says Elon Musk
New Delhi: Tesla CEO Elon Musk has said that India, like every other country, should have electric car and it will be a natural progression for his company to provide Tesla electric vehicles in India.
‘EV retail sales grow across segments in FY24’
New Delhi: Electric vehicle retail sales in India increased last fiscal with all the segments, including passenger vehicles and two-wheelers, witnessing enhanced registrations, according to automotive dealers’ body FADA. The overall sales of electric passenger vehicles rose to 90,996 units in 2023-24 as compared to 47,551 units in FY23, registering an increase of 91 per cent. Tata Motors led the segment with registrations of 64,217 units, up 66 per cent over 38,728 units in the 2022-23 financial year. Similarly, registrations of electric two-wheelers rose by 30 per cent to 9,47,087 units in 2023-24 fiscal as compared to 7,28,205 units in FY23.
Tesla in talks with Reliance to set up EV manufacturing arm in India
Mumbai: Tesla may be scouting for a local partner to set up its operations in India. Highly placed sources say the US electric vehicles major is in talks with Reliance Industries for a possible joint venture to build the manufacturing facility in the country.
SIAM joins Maharashtra PCB to promote circular economy in auto industry
It aims to facilitate meaningful discussions and develop actionable strategies for sustainable mobility through waste management, recycling, and other circularity principles
India a big focus market for Freudenberg? Find out why it is planning Rs 350 crore investment in India
German technology firm, Freudenberg is looking to further its growth in India. The company has announced it will invest close to Rs 350 crore in 2024 across facilities in Punjab, Karnataka and Tamil Nadu. In Morinda, India, Freudenberg has invested in a new production facility for its Vibracoustic Business Group and its Freudenberg-NOK India joint venture.
It’s official: One Fastag, two vehicles is illegal
Fastags have become an integral part of the Indian car market with all four-wheelers mandatorily told to install this system across the country without any exception a few years ago. However, as human nature goes, people misused the same, leading to the government cracking down on violators.
EAM Jaishankar discusses semiconductors, green growth with Belgium's top diplomat
External Affairs Minister S Jaishankar and Secretary-General of the Belgian Ministry of Foreign Affairs, Theodora Gentzis discussed strengthening economic and political cooperation between India, Belgium and the EU on Tuesday.
Electric vehicle retail sales grow across segments in FY24: FADA
India's EV market to grow 66% in 2024, likely to represent nearly one-third of PV sales by 2030
mint
Auto ancillary stocks attractive on dips as sector holds momentum: Analysts
"The recent downturn in ancillary stocks has made the prices attractive. It's a good opportunity to buy at current levels as the overall sentiment in the auto sector remains strong," said Deven Choksey, MD, DRChokseyFinserv.
Hyundai Motor Company, Kia Corporation sign pact with Exide Energy Solutions in EV battery deal
Craftsman Automation plans to set up greenfield plant in Bhiwadi
Craftsman Automation, a Coimbatore-based engineering and manufacturing company, is setting up a new green field plant in RIICO Industrial Area Salarpur (Bhiwadi) in Rajasthan. The company plans to invest ₹150 crore for the manufacture of Aluminium products in the first phase and other products from its three verticals in Phase 2, depending on the business requirements from time to time.
📝 Tresa Motors unveils VO. 2 e-truck with systems, features developed in-house
📝 5% GST benefit should only be for smaller EVs; don't extend it to bigger cars: Skoda Volkswagen India
📝 India, EU launch initiative for EV start-ups
📝 Elon Musk: Tesla's India entry is a natural progression
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🎤 Interviews & Features
Is your Toyota Hyryder or Suzuki Grand Vitara strong hybrid due for a pollution check?
Somethings are unnecessarily complicated with hybrid cars. Take the steps involved in starting the gasoline (petrol) engine on a hybrid car like the Suzuki Grand Vitara strong hybrid or Toyota Hyryder hybrid. Both these cars come with a strong hybrid powertrain, which consists of a 1.5-litre three-cylinder petrol engine, mated to a 177-volt battery that drives the electric motor powering the front wheels through an eCVT transmission. The total system power is 115 PS with 122 Nm of torque.
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🚗 Cars / SUVs
Maruti Suzuki India adds new vehicle assembly line at Manesar facility, adds 100,000 units capacity
Maruti Suzuki India, one of India’s leading passenger vehicle manufacturer has commissioned another vehicle assembly line at its Manesar facility.
Maruti Suzuki expands Manesar plant, share price hits lifetime high on NSE
Maruti Suzuki India Limited has added a new vehicle assembly line at its Manesar plant. This will add 100,000 units to its annual capacity. This addition brings the total manufacturing capability at the Manesar plant to 9,00,000 vehicles per annum. According to the company, the Manesar facility contributed over 95 lakh units to the company’s 3-crore production milestone.
First price hike for 2024 Hyundai Creta: Find out how much it costs
Hyundai introduced the 2024 Creta in January of this year, and it has since broken sales records in the mid-size SUV sector. In February, it set a sales record of 15,276 units, which was surpassed in March by 16,458 units. The Creta also became the second-best-selling vehicle in March 2024. The South Korean company has chosen to increase the price of the new Creta for the first time.
📝 Toyota Kirloskar to step up play in smaller towns
📝 Tata Curvv spotted yet again, will feature blind spot monitoring. Check details
📝 Mahindra XUV 3XO bookings open at dealerships ahead of launch
📝 MG Hector Blackstorm edition launch on April 10: Changes, features, expected prices
📝 Jeep Compass Night Eagle Edition teased ahead of launch
📝 Toyota Urban Cruiser Taisor vs Tata Nexon: Which one to choose
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Electric-Cars / SUVs
Electric car sales to grow 66% in 2024, account for 4% of PV sales in India: Report
The sales of electric vehicles in India may have grown slower than expected, but has gradually started gaining traction. In fact, as per a recent report by Counterpoint Research the share of electric vehicles could very well reach 29 percent by 2030.
MG Cloud-based EV spied in India— launch in March 2025
A strong proponent of electric vehicles (EV), MG Motor will bring a host of battery-powered vehicles to India in the coming future. This includes the Comet-based subcompact electric SUV which is essentially a rebadged Baojun Yep Plus. The other is a compact electric MPV based on Wuling Cloud EV.
Read More >>
🚗 Luxury Cars
Nita Ambani takes delivery of a Rolls-Royce Phantom VIII EWB
When the name ‘Ambani’ is mentioned, one can relate the name to numerous things, from business to their lavish lifestyle. Now, the name is in the spotlight again, but it’s Nita Ambani, Mukesh Ambani’s wife this time, for her Rolls-Royce Phantom VIII EWB.
Jaguar Land Rover sells 431,733 units in FY2024, up 22%
Tata Motors-owned British luxury brand Jaguar Land Rover has reported its sales for Q4 FY2024 and FY2024.
Kangana Ranaut brings home Mercedes-Maybach GLS 600 worth Rs 3 crore
Bollywood star turned politician Kangana Ranaut has made headlines once again as she added the Mercedes-Maybach GLS 600 4Matic to her multi-crore car collection. Recently, the shutterbugs caught the actress in Mumbai with her new lavish SUV. It is Ranaut’s second Maybach, which, according to media reports, is registered under her company’s name, Manikarnika Films Production.
📝 Mukesh Ambani’s wife Nita Ambani buys a new Rs 12 crore Rolls-Royce, gets Rose Quartz paint and initials on…
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⛟ Commercial Vehicles
This start-up wants to take on the CV biggies with a new tech-heavy electric truck
New Delhi: Electrification trend has seen a boost in recent years, though the electrification varies from segment to segment. Highest penetration of EVs is seen in two wheelers and the least can be in heavy commercial vehicles. However, the medium and heavy commercial vehicles makers have decided to bring this trend on the road.
BMTC e-bus battery overheating creates concern
A recent incident of overheating of a Bengaluru Metropolitan Transport Corporation (BMTC)’s electric bus has raised concerns about safety. BMTC officials say that the incident of overheating is being investigated by manufacturers.
Truck rentals remained flat in March 2024: Shriram Mobility Bulletin
On the other hand, Delhi-Kolkata, Delhi-Chennai, Delhi-Bengaluru, and Mumbai-Kolkata round trips saw rates declining marginally. Delhi-Kolkata route saw the maximum dip of 1.4 per cent in rates.
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🏗 Construction & Agri Machinery
AutoNxt Automation raises around $3 million in Pre-Series A from Saama
Mumbai-headquartered electric powertrain and off-road autonomous tech start-up AutoNxt Automation has raised around $3 million (Rs 25 crore) in Pre-Series A round of funding led by Saama.
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🏍 2/3 Wheelers
Green ride: Yamaha's motorcycle strategy shifts towards ethanol, not EVs
New Delhi : Even as India accelerates towards a greener future with an ambitious target for two-wheeler electrification by 2030, Yamaha Motor India is steering towards a more conservative course.
2024 Jawa Perak, 42 Bobber updated with new colours, alloy wheels
Jawa Yezdi Motorcycles, formerly known as Classic Legends, has updated its bobber range comprising— Perak and 42 Bobber. Both models receive cosmetic changes, while the former even receives a few ergonomic updates as well. Jawa is offering the 2024 Perak in just a fully-specced single colour variant, whereas 42 Bobber comes with six variants.
Pre-owned two-wheeler sales likely to see double-digit growth in 5 years
India is home to the world’s largest two-wheeler market. But, despite the robust demand for two-wheelers, the pre-owned two-wheeler segment has lagged behind.There is no concrete data available on the size of the Indian pre-owned two-wheeler market.
2024 Bajaj Pulsar N250 teased ahead of launch tomorrow
Bajaj is updating its flagship Pulsar for 2024 which is set for a launch on April 10. The 2024 Pulsar N250 will get a refreshed equipment list which includes the additional features and upgraded hardware. Ahead of its launch, the Chakan-based bikemaker has teased its flagship naked streetfighter on its social media handles.
📝 2024 Bajaj Pulsar 150 starts arriving at dealerships. Check new features
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🚲 Electric 2/3 Wheelers
Ultraviolette announces warranty on battery and drivetrain for 8 lakh km
Ultraviolette Automotive has announced a battery and drivetrain warranty structure for its flagship product – the F77, which now covers up to 8,00,000 kilometres. Ultraviolette’s new warranty initiative continues to include 3 distinct packages – UV Care, UV Care+ and UV Care Max.
Ultraviolette offers new warranty structure for F77 battery and drivetrain
New Delhi: Ultraviolette Automotive, a leading two wheeler brand, Tuesday announced a new battery and drivetrain warranty structure for its flagship product F77, offering a coverage up to 800,000 km
Ultraviolette and the art of making electric motorcycles
New Delhi: Narayan Subramaniam and Niraj Rajmohan spent a lot of time in the US during 2015 analysing and understanding the mindsets of Tesla owners.
Ather Rizta vs 450X — Differences and similarities
Ather’s updates are subtle and the 450 platform continued to drive business for the EV startup. However, when the Rizta started making rounds on the internet, this got enthusiasts eager as it was the first new product from the company in a long time. Finally, with the launch of the Ather Rizta, we have all the details one needs. Here are some differences and similarities between the Rizta and the 450 series.
📝 Ather Rizta vs TVS iQube: A detailed comparison of features and specifications
📝 Amitabh Kant calls for Indian electric two-wheeler companies to go global
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⚙ Components
Musashi appoints Naoya Nishimura as CEO for India & Africa region
Musashi Auto Parts India (Musashi), a 100% owned subsidiary of Musashi Seimitsu Industries, Japan and a leading manufacturer of two-wheeler and four-wheeler transmission components in India has appointed Naoya Nishimura as the new Chief Executive Officer (CEO). The move Musashi says is part of its commitment to fortify its leadership team and its focus in Indian market.
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🌇 Allied Industries
Steel industry says surge in imports 'warning signal' for country's Atmanirbhar mission
The Indian steel industry has expressed concern over India becoming a net importer of steel in 2023-24, saying is it is a "warning signal" for the country which strives to become Atmanirbhar. As per the steel ministry's Joint Plant Committee, India has registered a 38 per cent surge in imports of finished steel to 8.319 million tonnes (MnT) over 6.022 MnT imported during the preceding 2022-23 fiscal.
Is Tata Tech-BMW JV good enough?
Shares of Tata Technologies Ltd were in focus last week as investors cheered the company’s pact with BMW Holding BV, Netherlands. The joint venture will focus on software development, automated driving, infotainment and digital services. The synergies and growth opportunities this partnership can bring for Tata Technologies are seen as a positive.
Altair opens new office in Chennai for engineering and technical team
Altair, a global leader in computational intelligence, product development, high-performance computing (HPC), and data analytics, has opened its new office in Chennai, India.
📝 India plans to raise steel production capacity three-fold by 2047
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🌢 Fuels, Lubricants & Charging Stations
Will domestic petrol prices go up pre-polls?
Source Credit: Sumant Banerji, mint (Delhi Print Edition)
Fresh geopolitical uncertainty has pushed global crude prices above $90 per barrel. How does it impact India’s oil marketing companies? Will they be forced to increase prices in the election season? Mint finds out.
📝 India's petrol consumption doubles in a decade
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💸 Finance & Insurance
LEVC offers GBP 1500 finance deposit on all new TX taxi models
Launched in 2018, demand for the world’s most advanced electric taxi continues to accelerate, with more than half of London’s entire black cab fleet now zero-emission capable thanks to the TX, with the class-leading cab on sale in over 25 countries across the globe, playing a vital role in offering clean green, and accessible urban mobility.
CIBIL: Want to lease a car but have low credit score? 3 key things you should keep in mind
If your CIBIL score is low, your ability to lease a car would certainly be affected.
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📖 Magazines News
Tata Nexon, Tiago, Altroz get up to Rs 40,000 off on MY2024 stocks
Source Credit: Autocar India
Tata Motors dealerships across the country are offering attractive benefits on the Tiago, Tigor, Altroz and Nexon. MY2024 units get discounts up to Rs 40,000, while MY2023 units get even higher discounts this month.
Hyundai, Kia partner with Exide in India for EV battery packs
Source Credit: Autocar India
Hyundai Motor Company and Kia Corporation 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.
Ather electric motorcycle: CEO Tarun Mehta shares insights
Source Credit: Autocar India
Company officials have recently shared that Ather is working on an electric motorcycle. However, very little is known about what kind of motorcycle this will be, so we asked Ather Co-founder and CEO Tarun Mehta what to expect at the company’s recent Community Day event in Bengaluru.
Read More >>
📰 International News
Volkswagen to unveil new Golf model in UK on 50th anniversary
New Delhi: Volkswagen is set to launch the latest iteration of its iconic Golf model in the UK on April 11, commemorating 50 years since the inception of the original Golf. This new release represents the culmination of half a century of automotive innovation and success for Volkswagen.
Skoda Auto begins production of updated Octavia at Mladá Boleslav facility
New Delhi: Skoda Auto has initiated the production of the refreshed Octavia at its primary facility in Mladá Boleslav. The updated fourth generation of the company's best-selling vehicle presents several enhancements, including a redesigned Skoda grille, upgraded LED matrix beam headlights, and the integration of ChatGPT into the Laura voice assistant system.
UK dealers rate Kia as top brand in NFDA survey
New Delhi: Kia has secured the top position as the preferred brand among UK dealers for the third consecutive time, as revealed by the latest National Franchised Dealers Association (NFDA) Dealer Attitude Survey (DAS).
GM’s Cruise to resume testing its robotaxi service in Phoenix
General Motors Co.’s Cruise autonomous driving business is preparing to resume testing its robotaxis with safety drivers in Phoenix, marking an important step in its attempts to resume service after grounding its fleet last year.
Chinese minister says cognac probe unrelated to EU probe on EVs
Chinese Commerce Minister Wang Wentao told French Finance Minister Bruno Le Maire that the probe started in China on the cognac market is not linked to the one started by the European Union on Chinese electric vehicles, a source at the French ministry said on Monday.
Tesla investors brace for potential back-to-back vehicle sales decline
Tesla Inc. may be headed for another vehicle sales decline this quarter after surprising investors with a drop in the first three months of the year, according to Robert W. Baird analysts.
📝 EV firm Lotus Tech reports quarterly revenue jump on strong demand for luxury cars
📝 US says SK Battery faces USD 77,200 in fines over employee health hazards
📝 Tesla settles case over fatal 2018 crash of Apple engineer; says autopilot cannot fully replace a human driver
📝 GM’s Cruise to resume testing its robotaxi service in Phoenix
📝 Booming Chinese EV industry ignites US-China trade tensions. Check details
📝 China's first-quarter EV sales growth slowest in a year: Report
📝 ‘A shame’: Ex Tesla CEO roasts Elon Musk for purportedly dropping low-cost EV plans
Read More >>
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