Top Indian Automobile Industry News & Updates - 29 April 2024,Monday
🏢 Industry
Govt looks to revisit funding support for automotive testing agencies, says Dr. Hanif Qureshi
Pithampur: If India has to make its automobile industry globally competent and a force to reckon with, the testing agencies need to focus on one of our core strengths of R&D in engineering and design, Dr. Hanif Qureshi, Additional Secretary, MHI (Ministry of Heavy Industries), said on Saturday.
M&M’s Europe biz CEO Gurpratap Boparai steps down
New Delhi: Gurpratap S Boparai has resigned as Mahindra & Mahindra’s (M&M) CEO of automotive business in Europe and CEO- MTBD (Mahindra Truck & Buses Division) & CE (Construction Equipment). His last working day at the company will be May 31, 2024.
India bridging infra gaps to be a global manufacturing hub: Siemens executives
Neike noted that globally, despite a tough economic scenario, an overall deceleration has not been observed. The need for greater efficiency and push for sustainability are also leading businesses to turn to artificial intelligence (AI), which is the “next big revolution”.
Prices can't dampen EV sales as it steps on leasing pedal
Leasing is adding to the momentum in electric vehicle sales, even as vehicle price remains a dampener in EV adoption, industry executives and experts said.
Singur Tata Motors' Nano plant controversy remains key focus in Hooghly election chatter
It has been nearly sixteen years since the anti-land acquisition movement in West Bengal's Singur constituency linked to Tata Motors' famed Nano car plant gripped the state and led to the downfall of the Left Front government. Yet, it remains a hotly contested topic, and continues to dominate the political narrative in the Hooghly Lok Sabha constituency.
Force Motors Q4 Results Live : profit falls by 4.32% YOY
Force Motors Q4 Results Live : Force Motors declared their Q4 results on 26 Apr, 2024. The topline increased by 34.96% & the profit decreased by 4.32% YoY.
Wardwizard Innovations reports two-fold rise in PAT to INR 4.27 cr for Mar qtr
Electric mobility firm Wardwizard Innovations & Mobility on Friday reported an over two-fold increase in standalone profit after tax (PAT) to INR 4.27 crore for the March 2024 quarter. Its standalone PAT in the March quarter of FY23 was recorded at INR 1.44 crore, the company said in a statement.
After postponing India visit, Tesla CEO Elon Musk arrives in China
(With inputs from agencies)
Statsguru: Record run for electric cars globally, lower pickup in India
Nearly 20 per cent of cars sold globally in 2024 will be electric. Worldwide sales of electric cars will reach 17 million in 2024, according to the Global EV Outlook 2024 report released by the Paris-based International Energy Agency (IEA) last week. Growth, however, has slowed.
📝 Indian auto industry poised to reach USD 300 Billion by 2026; Revving up for innovation and expansion
📝 Tata Sons Chairman N Chandrasekaran's top three focus areas for 2024: Growth, growth & growth
📝 Days after putting off trip to India, Musk visits China, meets Premier Li
📝 21 states/UTs offer incentives to boost scrapping of old vehicles
📝 Toyota to invest $1.4 billion to build an all-electric three-row SUV in US
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🎤 Interviews & Features
Car Review: New Jeep Wrangler: Can cross deserts, rivers, continents, eras
SUVs can go where regular cars cannot, and the Wrangler can go where SUVs cannot — this is what I realised driving the all-new Wrangler on highways, in soft sand, across a dry river bed, and even across the mighty Sutlej River.
Unlocking the Potential of Micro-Mobility: Examining the Impact of E-Scooters and Bike-Sharing Programs
“EV charging is not just about powering vehicles; it’s about powering the future of transportation. By providing innovative charging solutions, we are not only reducing emissions but also paving the way for a sustainable and accessible mobility ecosystem.” – Harry Bajaj, CEO of Mobec Innovation – EV Charging Solutions.
📝 Mahindra XUV 3XO: Expected design specs, pricing, and other details unveiled ahead of launch
📝 Tata Punch EV vs Tata Punch petrol vs Tata Punch CNG: Price and specification
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🚗 Cars / SUVs
Ertiga bookings comprise over 50% of Maruti Suzuki’s current pending orders
Maruti’s current pending bookings stand at 200,000 and a good part of this backlog is accounted for by the Ertiga. According to Rahul Bharti, Chief Investor Relations Officer, Maruti leadership speaking at the analyst call after earnings, pending Ertiga orders at the end of Q4 stand at 111,000.
Maruti Suzuki India Q4 Results Live : profit rise by 47.05% YOY
Maruti Suzuki India Q4 Results Live : Maruti Suzuki India declared their Q4 results on 26 Apr, 2024. The topline increased by 19.43% & the profit increased by 47.05% YoY. As compared to the previous quarter the revenue grew by 14.8% and the profit increased by 23.25%.
Maruti Suzuki’s ‘Green Vehicles’ share is to race past 50% in FY25 on robust demand
Chennai: Maruti Suzuki India is poised to exceed a 50 per cent share of green vehicles in its overall sales this fiscal, driven by strong demand for alternative fuel-powered vehicles. The top carmaker has seen the share of green vehicles rise continuously for the past couple of years, thanks to the expansion of its model line up.
📝 Maruti Suzuki's annual sales volume crosses 2 million units
📝 Suzuki working on smaller hybrid cars for India with much better mileage: Maruti chairman RC Bhargava
📝 Tata Motors files 222 patents and 117 design applications in FY24
📝 Cars and SUVs under Rs 15 lakh with sunroof: Hyundai Exter, Tata Punch and more
📝 Updated Tata Altroz spotted ahead of launch. Check what's new
📝 Maruti Suzuki Swift: 19 years of swift success in India. What makes it standout
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Electric-Cars / SUVs
📝 Tata Passenger Electric Mobility to deliver 2,000 Xpres-T EVs to Vertelo
📝 BYD Seal EV road test review: No-nonsense, performance-packed everyday EV!
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⛟ Commercial Vehicles
Tata Motors promotes annual maintenance contract
Tata Motors, India’s commercial vehicle manufacturer, has rolled out a new digital campaign; ‘Karo Business Tension Free’.
Olectra Greentech Q4 Results Live : profit falls by 49.23% YOY
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🏍 2/3 Wheelers
Bajaj silently rolls out updated Pulsar 220F – gets new instrument console
Bajaj has silently launched the updated Pulsar 220F as units of semi-faired motorcycle start reaching dealerships. The updated Pulsar 220F gets a familiar set of updates as introduced in Pulsar models like N150, N160, NS200 and the recently launched N250. However, Bajaj is yet to officially announce the launch of the updated Pulsar 220F.
📝 TVS showcases iQube e-scooter at Makina MotoShow in Manila
📝 Bajaj Pulsar 400 details leaked. Will sit on top of Pulsar range
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🚲 Electric 2/3 Wheelers
Okaya EV to launch new electric bike under Ferrato — bookings commence
Earlier last month, Okaya EV announced a new premium brand of electric two-wheelers named Ferrato. Now, the company has revealed the name of the first product to be sold under this new subsidiary brand. Called Disruptor, Okaya EV has officially commenced pre-bookings for the upcoming electric motorcycle.
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🌇 Allied Industries
New-age technologies paving the way for smarter and sustainable mobility solutions
Until a few years ago, commuting had several challenges: boarding overcrowded buses, manually searching for an auto on the road, negotiating a fair price, etc. However, today, commutation has transformed immensely, enabling us to book a ride digitally and travel with comfort. Moreover, features like live GPS tracking, predicting accurate ETAs, Maps integration for traffic analysis, online payment systems, etc., have enhanced our experiences, all thanks to technology. Bringing about a paradigm shift in the way we commute, technological advancements are now leveraged to manage and improve the current transportation systems, paving the way for smarter mobility solutions.
Indian startup The ePlane to develop electric air taxi prototype by March 2025
The ePlane Company's Founder and CEO Satya Chakravarthy said it is developing an eVTOL (electric Vertical Takeoff and Landing) aircraft and to begin with, it will be a three or four-seater plane which can be converted into an air ambulance.
📝 Tata Steel CEO raises concerns on rising steel imports, says need to be watchful
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🌢 Fuels, Lubricants & Charging Stations
India's February oil imports rise amid shifts in global market dynamics
New Delhi: India's total oil import bill surged to USD 13.25 billion in February, marking a 10% increase from USD 12.04 billion in the previous month, despite a slight dip in domestic consumption, according to data from the ministry of commerce and industry.
India's March crude oil imports ease 1.1% from a year ago
India's crude oil imports in March fell by 1.1% from a year earlier to 20.69 million metric tons, government data released on Friday showed.
📝 Oil PSUs' output from overseas fields up a tad
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💸 Finance & Insurance
Shriram Finance Q4 Results Live : profit rise by 56.3% YOY
Shriram Finance Q4 Results Live : Shriram Finance declared their Q4 results on 26 Apr, 2024. The topline increased by 24.54% & the profit increased by 56.3% YoY. As compared to the previous quarter the revenue grew by 6.49% and the profit increased by 7.64%.
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📖 Magazines News
Most powerful petrol sedans under Rs 25 lakh
While the Indian market continues to go gaga over SUVs and high-riding crossovers, the shrinking space that is populated by mass-market sedans has picked up pace in recent years with the introduction of competitive products. The low-slung nature of sedans make them sportier when compared to corresponding SUVs, thanks to a lower centre of gravity and better aero. On that note, here’s a list of most powerful sedans in India under Rs 25 lakh.
Opinion: The need for greener EVs
The world today needs more electric cars. No, don’t get me wrong, this is not because I think they are ‘zero emission’ vehicles; far from it. What EVs can be in the future, however, are a cleaner, greener way forward. And it’s not just the world that needs more EVs; India desperately needs more EVs too. We spend roughly USD 125 billion on the import of crude oil every year, and any significant move to electric vehicles can help offset this massive drain on our national resources.
Hero Xtreme 125R vs TVS Raider 125 comparison
The TVS Raider was the first 125cc motorcycle that said, ‘yes, you can have a sensible and cost effective commuter, but it can also be fun and desirable’. That formula led to it winning our Bike of the Year award in 2021 and the Raider has subsequently become TVS’ bestselling motorcycle in a really short span of time. It’s such a great success story that Hero is going down a similar route with the new Xtreme 125R.
India-bound Mercedes E-Class LWB debuts at Beijing motor show
The all-new Mercedes E-Class LWB has been showcased at the ongoing Beijing motor show 2024. The India debut of the new Mercedes E-Class will take place later this year. Mercedes sells the E-Class LWB in a few markets like China, with India being the only market getting the right-hand drive iteration of the sedan.
Autocar track day: India's best riding bikes 2024
It’s been a three-year gap, but we’re back with the annual Autocar Track day for 2024! This time around, some things remain the same, but quite a few things are very different. For example, we still have motorcycle racing legend Rajini Krishnan setting the lap times, so you know these bikes are going to be pushed to the limit. On the other hand, we’re now at an exciting new race track, the super fast and flowing CoASTT High Performance Centre in Coimbatore.
Feature: Dancing on ice in an Audi RS4 Avant
It’s 9:30am and the sun is just a faint orange glow above the snow-draped pine trees. Dawn is gently breaking, revealing the sheer expanse of the pure white landscape slowly unfolding in front of us. It’s early February and we are at the edge of a pristine frozen lake close to the small town of Muonio in Finland, some 160km north of the Arctic Circle. This spot will be our playground for the next three days, and our toys will be the Audi RS4 Avant and e-tron GT, serving up an unforgettable cocktail of power and ice.
Volkswagen Virtus tyres and suspension: should you upgrade for better stance?
Autocar India says: While the awkward rear stance of the Virtus could make the car look disproportionate from certain angles, its suspension has been engineered to offer the optimal balance of comfort and dynamics. Although the upgrade to wider 225/45 rubber on 17-inch wheels is a good attempt to solve the problem, it would have worked best with lowered suspension.
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📰 International News
Earnings for Big Oil backpedal as natural gas prices tumble
U.S. and European oil companies reported weaker first quarter results on Friday due to a sharp drop in natural gas prices compared with a year ago.
United Auto Workers reaches deal with Daimler Truck, averting potential strike in North Carolina
The United Auto Workers union announced it reached a last-minute tentative agreement with truck and bus manufacturer Daimler Truck, averting a potential strike of more than 7,000 workers.
Mercedes-Benz says US DOJ ended investigation into diesel emissions scandal
The U.S. Department of Justice has closed its probe into the Mercedes-Benz diesel emissions scandal and the car manufacturer is no longer facing charges, the company said on Saturday.
Next-gen digital dashboards: How smart displays are transforming modern cars
The road ahead is endless and car brands are keeping up with the technology for it. With the evolution of digital dashboards, customers are set for an immersive experience.
Elon Musk heading to China for visit to Tesla's second-biggest market, sources say
Tesla CEO Elon Musk was on a flight heading to Beijing on Sunday to kick off a surprise trip in the electric vehicle maker's second-biggest market, according to two people with knowledge of the matter.
Hyundai, Kia join China's Baidu to develop connected cars
Seoul, South Korea's top carmaker Hyundai Motor and its affiliate Kia said on Sunday that they have inked an agreement with China's tech giant Baidu to develop technologies for connected cars.
Foreign automakers eager for Chinese partners at Beijing auto show
Global automakers including Volkswagen and Toyota came to this year's Beijing auto show looking to catch up to surging China EV makers that are dominating the world's largest auto market.
Why China keeps making more cars than it needs
📝 5 cars from the Beijing auto show that reflect China's vision for the future of driving
📝 Renault talks to China's Li Auto and Xiaomi on tech collaboration
📝 Surging auto insurance rates squeeze drivers, fuel inflation
📝 Daimler Truck braces for possible strike in 3 southern US states
📝 Elon Musk’s private jet lands in China for surprise visit
📝 Bugatti's next chapter: Chiron successor spotted! Check details
📝 BYD shares face earnings test as China’s EV price war heats up
📝 VW's Innovation Basket: Elevating driving with human-like tech. Check details
📝 Kia EV9 GT promises enormous power, debut in January 2025
📝 Bentley teases another handbuild creation: this time convertible. Check details
📝 Tesla Autopilot probed after 20 crashes in months since recall
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