Top Indian Automobile Industry News & Updates - 10 Oct 2024,Thursday
🏢 Industry
Gadkari launches Humsafar Policy to provide essential facilities on national highways
Union Minister Nitin Gadkari on Tuesday launched the 'Humsafar Policy' to provide essential facilities like clean toilets and baby care rooms along the country's national highways network.
Govt proposes changes in Motor Vehicles Act
The road transport ministry has proposed ammendments to the Motor Vehicles Act to make ex-gratia given by central and state govts to kin of road crash victims a separate component to be paid over and above the total compensation.
Hyundai Motors India IPO opens on October 15: Price band, issue price, GMP, IPO allotment, Listing Date
The highly anticipated initial public offering (IPO) of Hyundai Motor India is set to open for subscription on October 15, with the issue closing on October 17. Through this public offer, the automaker plans to raise nearly Rs 27,870 crore, marking one of the largest IPOs in recent times.
Industrial smart cities – pivot point in reshaping India's manufacturing future
The foundation of Viksit Bharat has to be tethered on a robust manufacturing system that is globally competitive, inclusive, agile and can be a trusted choice for global and local entrepreneurs. Recognizing this necessity, Government has proactively initiated the “Make in India”, “Skill India”, “Production Linked Incentive” “Ease of Doing Business” and many other similar measures which are bound to energize and rewrite the contours of Indian Manufacturing, realizing our dream to Make for India and Make for the world.
Tata Motors Stocks/Share Price Highlights October 9, 2024: Tata Motors shares end 2% higher among top gainers of Nifty 50 pack
Tata Motors Shares, Tata Motors Stocks, Tata Motors Share Price Updates for October 9, 2024: Tata Motors share price in focus. Tata Motors on Tuesday reported an 11 per cent decline in group wholesales, including Jaguar Land Rover, at 3,04,189 units in the second quarter of the ongoing fiscal as compared to the same period last year.
Hyundai India bets big on premium cars and EVs on course to world’s largest IPO
Mumbai: Hyundai Motor India will continue to focus on premium vehicles across traditional, electric and hybrid models that bring higher margins, the company’s management said as they formally announced the world’s largest public offering so far this year.
India to be global manufacturing hub for IPO-bound Hyundai, says executive
Hyundai Motor Co expects India to be a fast-growing market and plans to make it a global manufacturing hub, a top company executive said on Wednesday, as the South Korean carmaker gears up to launch its Indian IPO next week.
Ratan Tata, the Tata Sons chairman emeritus, passes away at 86
Ratan Tata Death Latest Updates: From PM Modi to Mukesh Ambani, Gautam Adani and Anand Mahindra – Reactions, tributes and condolences pour in
The Financial Express
Aviation, power, green mobility to drive the scale-up of infrastructure
📝 More sops to boost scrapping of old vehicles in works
📝 Hyundai India announces to invest Rs 32,000 crore in India over next 10 years
📝 Nano's 'cheap' tag proved costly
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🚗 ICE Car/SUV
Mahindra XUV 3XO gets its first price hike
The Mahindra XUV 3XO created a lot of buzz ahead of its launch this year and five months after its launch, the sub-4 metre SUV has witnessed its first price hike, effective immediately. Select variants of the Mahindra XUV 3XO will witness a price increase of Rs 30,000.
Large offerings can end up as duds post listing
Mumbai: Hyundai Motor India’s initial public offering (IPO) will be the biggest till date, eclipsing the previous record set by State insurer LIC in 2022. Large offerings, however, have not fared all that well historically.
Hyundai fixes IPO price band at ₹1865-1960
Mumbai: Eyeing to become a home brand, Hyundai Motor India Ltd, part of Hyundai Motor Group will launch its initial public offering (IPO) on October 15. The IPO is entire an offer for sale by up to 14.22 crore shares by Hyundai Motor Company. The issue size at ₹27,870 crore (at the upper end) will be the largest ever in Indian IPO market.
Top 5 best-selling cars in September: Maruti Ertiga leads the way
Maruti Suzuki continues to dominate the market with three vehicles in the top 5 cars in September 2024. At the pole position is India’s most successful MPV, the Maruti Suzuki Eryiga, while September was a great comeback story for the Swift, taking second place after August being average, while the Creta retains its third place. The table topper in August, the Maruti Suzuki Brezza, slipped down to fourth, place, while Manindra Sdroppedio dropped into the fifth spot.
Honda launches Assured Buyback Programme with Cars24
Honda has introduced an assured buyback program in partnership with Cars24, as part of The Great Honda Fest campaign, which aims to guarantee a future resale value for new Honda cars purchased in the month of October.
📝 2024 Nissan Magnite vs Kia Sonet: Which sub-compact SUV to buy
📝 Thinking of Mahindra XUV 3XO alternatives? Here are five sub-compact SUVs to consider
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Electric Car/SUV
BYD eMax 7 variants and features explained
BYD’s new eMax 7 is the latest offering in the electric passenger vehicle segment. The MPV is priced at Rs 26.9 lakh, ex-showroom and replaces the eMax 6. The eMax 7 offers a host of updates compared to the eMax 6, and is available in India in two variants — Premium and Superior.
Hyundai Motor India set to launch Creta EV ahead of IPO, eyes major expansion
As Hyundai Motor India gears up for its next phase of growth with an upcoming initial public offering (IPO), the auto company is setting the stage for a major shift in its portfolio with the planned launch of the Creta EV in the fourth quarter of this financial year.
BYD not looking to localise in India, continue to rely on imports
Feasibility of hybrid technology
BYD awaits green signal to start local manufacturing of its vehicles in India
📝 BYD to focus on imports, shelves car factory plans in India over FDI roadblocks
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🚗 Luxury
Mercedes-Benz launches new LWB E-Class at INR 78.5 lakh
Mercedes-Benz India has launched the all-new Long Wheelbase (LWB) E-Class at an introductory price of the New LWB E 200 INR 78.5 lakh (ex-showroom). The sixth-generation model enhances Mercedes-Benz's sedan portfolio in India, incorporating advanced technologies and adapting to local conditions. The new LWB E-Class offers unparalleled comfort, superior driving dynamics, and high-quality luxurious interiors, maintaining its status as the country's most desired luxury car. Key features include the MBUX Superscreen, Thermotronic Digital Vent Control, and various India-specific adaptations.
Mercedes-Benz car sales in India increases 13% to 14,379 units in Jan-Sep 2024
German luxury car manufacturer Mercedes-Benz on Wednesday said its car sales in India grew over 13% year-on-year to 14,379 units in the first nine months of 2024, registering the best-ever performance in January-September period. The company further said the September quarter delivered over 21% more cars at 5,117 units, in comparison to the corresponding quarter of the last year.
Big Boy Toyz launches e-commerce platform for luxury cars
Big Boy Toyz (BBT), India's premier pre-owned exotic car company, has launched Cars.co.in (CCI), the country's first comprehensive online platform for buying and selling luxury cars. This new platform allows consumers to purchase luxury vehicles online with ease and convenience, similar to buying groceries. Cars.co.in offers an extensive inventory of high-end cars, ensuring the highest standards of quality, paperwork, and transparency, leveraging BBT’s two decades of experience and trust.
Mercedes-Benz E-Class LWB hits Indian market at Rs 78.5 lakh: Key features, engine specs, design and more
2024 Mercedes-Benz E-Class LWB launched in India with prices starting at ₹78.5 lakhs: Features, rivals and more
Mercedes drives in new E-Class
New Delhi: Mercedes-Benz on Wednesday launched the sixth generation of the E-Class in India. The luxury sedan is available in three variants: the E 200 for Rs. 78.5 lakh (deliveries begin this week), the E220d for Rs. 81.5 lakh (deliveries start on Diwali), and the E 450 4Matic for Rs. 92.5 Iakh (deliveries in November).
📝 Lexus India drives 10% growth in September 2024
📝 2024 Mercedes-Benz E-Class LWB vs 2024 BMW 5 Series LWB: Price, variants, features, dimensions compared
📝 Mercedes-Benz E-Class LWB launched in India at Rs 78.5 lakh: Engine, features and more
📝 Any changes to GST on EVs will slow down adoption of green cars: Mercedes MD Santosh Iyer
📝 Mercedes Benz India mulls unveiling two more luxury cars in CY24 priced at over ₹1.5 cr.
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🎤 Interviews & Features
Nissan Magnite CVT Vs Citroen C3 AT: Which automatic crossover to opt?
Nissan recently launched a mild-facelift of the Magnite with introductory prices starting at Rs 5.99 lakh. At the same time, Citroen launched an automatic gearbox option for C3. Since both these crossovers play in the similar price range and segment, let us look at which model with an automatic gearbox is a more enticing option to consider, on paper.
Old chips in new fab: Why is India spending $25bn?
India is set to roll out new incentives for its semiconductor initiatives. Most of the sum is expected to help India attract at least four more chipmakers with fabs. But these projects may end up making legacy chips based on old tech. Why is India spending so much?
'Ready to export to new electric vehicle markets if there is demand'
Q: Why is Hyundai Motor looking to list in India?
📝 Kia Carnival Limousine launched: Things you should know
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🏍 EV/ICE Two Wheelers
2025 Triumph Trident 660 breaks cover — Gets more tech and standard equipment
Triumph launched the 660 platform a few years ago, and the first motorcycle from that was the Trident 660. Now, for 2025, Triumph has updated the motorcycle, giving it more tech and standard equipment. The motorcycle carries the same price tag in Europe, and the entry-level triple from Triumph gets three new colour options.
Royal Enfield Himalayan Rally images leaked, launch likely next year
Royal Enfield has plenty of models in development in all three engine displacement categories— 350cc, 450cc, and 650cc. The company currently offers two models in the 450cc category including Himlayan and the recently launched Guerrilla. Enfield is planning at least two more models in this space including a scrambler and a more rally-spec version of Himalayan.
📝 2024 KTM 250 Duke launched at ₹2.41 lakh with new TFT screen and LED headlamp from 390 Duke
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🌇 Allied Industries
SUN Mobility-IOCL appoint Anant Badjatya as CEO of joint venture
SUN Mobility-IOCL have appointed Anant Badjatya as CEO of their newly formed joint venture, Indofast Swap Energy Pvt. Ltd. This comes after a landmark deal between IOCL and SUN Mobility in June 2024 aiming to create one of India's largest battery-swapping networks by 2030. This initiative promises to enhance the country's focus on electric mobility by leveraging IOCL's vast network of fuel stations and SUN Mobility's battery-swapping technology.
Readywire equips automotive dealerships with AI-driven ERP solutions for peak season surge
Readywire has announced that its AI-driven cloud-based ERP solution is transforming how automotive dealerships manage operations throughout the year and preparing them for peak periods like festive seasons and year-end surges. With an affordable AI-driven platform, Readywire helps dealerships handle increased inquiries and transactions effectively, ensuring efficient operations during both regular and high-demand times.
UrjaMobility secures INR 100 cr in Pre-Series A funding to transform e-mobility with innovative battery leasing
UrjaMobility roadmap for future
📝 Bridgestone Turanza 6i: Revolutionising comfort with performance
📝 India needs to impose tariffs on steel imports, SAIL's chairman says
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🌢 Fuels, Lubricants
📝 Indian auto LPG coalition appeals for level playing field for auto LPG
📝 Oil prices steady after sliding on potential Israel-Hezbollah ceasefire
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💸 Finance & Insurance
Ecofy partners with TVS Motor to boost e3W adoption
Ecofy, green-only NBFC backed by Eversource Capital, has partnered with TVS Motor Company to promote electric three-wheeler adoption and sustainable mobility in India. This collaboration aims to provide comprehensive financing solutions for electric three-wheelers in the rapidly growing sector, leveraging TVS Motor's industry experience and Ecofy's financial services expertise.
Hinduja Leyland Finance receives 'AA+/Stable' rating boost from CRISIL
Additionally, CRISIL reaffirmed the A1+ rating for the company’s Commercial Paper. The improved rating demonstrates confidence in Hinduja Leyland Finance's diversified resource profile, supported by well-balanced borrowings from both banks and capital markets, the company said.
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📖 Magazines
Rolls-Royce Ghost facelift revealed
The Rolls-Royce Ghost has been updated with more focus on interior customisation and enhanced technology, thanks to the increasing demand for personalisation.
AMG Experience 2024: Star Track
The AMG Experience is an event that brings together AMG owners to one big party. However, instead of a DJ, loud music and confetti, you have loud engines, tyre smoke and speed. This year’s edition was going to be a track attack over two days. Set at India’s newest race track, the CoASTT in Coimbatore, the line-up was nothing short of incredible.
Telangana announces vehicle scrappage policy
Telangana has become the latest state in India to announce a vehicle scrappage policy, called the Voluntary Vehicle Fleet Modernization Policy (VVMP). This initiative aims to phase out 'end-of-life vehicles', and aligns with recent amendments to the Motor Vehicles Act of 1988.
Renault Duster-based Bigster revealed
Renault’s budget brand overseas, Dacia, has taken the wraps off the Bigster before its showing at the upcoming Paris Motor Show (starting October 17). Said to be the biggest Dacia model yet, the SUV is based on the Renault Duster, and is expected to make its way to India, albeit as a 7-seater.
Mercedes-Benz India records 21 percent sales growth in Q3 2024
Mercedes-Benz India recorded sales of 5,117 units in the third quarter of this year, registering a 21 percent year-on-year (YoY) growth. This is the highest Q3 sales the company has achieved in the country to date.
New Mercedes E-Class launched at Rs 78.5 lakh
Mercedes has launched the sixth-gen E-Class (V214) in India at an introductory starting price of Rs 78.5 lakh for the E 200 petrol. The E 220d diesel and range-topping E 450 4Matic are priced at Rs 81.5 lakh and Rs 92.5 lakh, respectively. Deliveries for the E 200 will commence this week, the E 220d's from Diwali onwards, and the E 450's will start by mid-November. India is the only right-hand-drive market the E-Class LWB is sold in, and this is the second generation of the LWB version here. Production of the new E-Class LWB commenced at Mercedes-Benz's Chakan plant a few weeks ago.
KTM 250 Duke with TFT display launched at Rs 2.41 lakh
KTM recently updated its 200 Duke with the TFT display from the 390 Duke. This left the new-gen 250 Duke in an awkward place, as it cost more than the 200 but still has a black and white LCD. However, KTM has now fixed this.
BMW Group, Tata Technologies partner to establish new JV
BMW Group and Tata Technologies have established a new 50:50 joint venture called BMW TechWorks India. The JV aims to innovate automotive software, including software-defined vehicles (SDVs) and business IT innovations.
KTM's unique AMT technology revealed
Will be showcased on October 22
New Mini Convertible revealed
Mini Convertible gets two turbo-petrol options
Triumph Trident 660 gets more electronics, new colours for 2025
Cruise control, sport mode, quickshifter now standard
BYD eMax 7 price, variants, features explained
BYD eMax 7 variants explained
Renault Duster-based Bigster revealed
Bigster is around 230mm longer than the Duster
Industry legend Ratan Tata dies at 86
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📰 International
Hyundai Motor Group and NTU Singapore collaborate on sustainable energy and manufacturing solutions
Hyundai Motor Group and Nanyang Technological University (NTU) in Singapore have signed a three-year collaborative research agreement focused on hydrogen energy business and advanced energy systems to aid in achieving carbon neutrality. The partnership aims to leverage Hyundai’s advanced energy technologies.
Foxconn building Nvidia superchip facility in Mexico, say executives
Foxconn is building in Mexico the world's largest manufacturing facility for bundling Nvidia's GB200 superchips, a key component of the U.S. firm's next-generation Blackwell family computing platform, senior executives at the Taiwanese company said on Tuesday.
China says to take anti-dumping measures against EU brandy imports
China said Tuesday that it would take "temporary anti-dumping measures" on brandy imported from the European Union, the latest move in an escalating trade row between Beijing and Brussels.
📝 China's brandy duties depress shares of makers of spirits, luxury and cars
📝 General Motors CEO assures investors more profitable days are ahead
📝 Uber to launch AI assistant powered by OpenAI's GPT-4o to help drivers go electric
📝 FICCI report projects $15 bn Taiwanese investment potential in India's electronics and EV sectors
📝 China targets EU brandy in EV tariff vote tit-for-tat
📝 Brussels rejected China proposal for 30,000 euro minimum sales price in EV dispute
📝 2025 Hyundai Venue spied being tested. Here's what has been changed over current model
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