Top Indian Automobile Industry News & Updates - 10 Feb 2024,Saturday

🏢 Industry

Maharashtra with 3,079 tops list for most numbers of public EV chargers in India
The state of adoption of electric vehicles in India is not uniform across the country thanks to a multitude of factors, but the availability of public charging infrastructure could be considered one of the most important factors.
Patna starts providing e-vehicle incentives
The state govt has started giving motor vehicle (MV) tax incentives on purchase of electric vehicles under Bihar Electric Vehicle (EV) Policy-2023.
Centre hikes FAME II allocation, scheme valid till March-end
Subsidies for electric two, three, and four wheelers has been revised to INR 7, 048 crore, of which INR 5,311 crore is for electric two-wheelers. An allocation of INR 4,048 crore has been made for purchasing electric buses and setting up electric vehicle (EV) charging stations.
Govt may clear select chip projects before poll dates are announced
Several semiconductor assembly and packaging projects are expected to be approved by the government before the dates for the parliamentary elections are announced.
10% of vehicles still leave showrooms without HSRPs
Last year, the Gujarat govt had made it mandatory for dealers to deliver vehicles only after permanent number plates were installed on them. However, as of date, 10% of vehicles that drive out of the showrooms in the state are without number plates, said sources in the transport department.
Kerala govt plans drive and charge infrastructure for electric vehicles
If things go according to plan, the Government of Kerala may soon come up with a solution to those.
 
Hyundai picks JPMorgan, Citi to accelerate USD 3 bn India IPO
Hyundai Motor has appointed investment bankers JPMorgan and Citi to advise on its at least USD 3 billion India IPO, accelerating listing plans in the world's third-largest auto market, sources with direct knowledge said.
Elon Musk’s Tesla can apply for battery PLI sops: Heavy Industries Ministry
Elon Musk’s Tesla can apply for incentives under the National Programme on Advanced Chemistry Cells (ACC) Battery Storage, Minister of State for Heavy Industries, Krishnan Pal Gurjar informed the Rajya Sabha on Friday. He was responding to question on whether a separate policy for providing incentives to Tesla is being formed.
EV two-wheeler sales breach FY23 figures despite cut in FAME-II subsidy
Source Credit: Nisha Anand, Business Standard

New Delhi: The Centre, on Friday, informed that the electric vehicle (EV) two-wheeler sales have increased in the current financial year 2023-2024 (FY24) at 734,760 units so far, despite reducing the subsidy to 15 per cent of the ex-factory price from the existing 40 per cent under the 'FAME India Phase-II' scheme.
📝  India to be number 1 auto manufacturing hub in 5 yrs
📝  VinFast's ground-breaking to take place on February 25
📝  Nitin Gadkari reveals his first vehicle: Here's what 'Highway Man of India' once rode
📝  GREL starts electric cab service in Pune
📝  ‘No separate policy for Tesla’
Read More >>

🎤 Interviews & Features

Tata Curvv spied testing on Indian roads— interiors revealed
Tata Motors has plenty of products lined up for launch this year. It started with the Punch EV last month which will be followed by the all-electric Harrier later this year. However, the biggest launch for the homegrown carmaker is undisputedly the Curvv. The coupe SUV was first unveiled in 2022 before making its first public appearance at the 2023 Auto Expo.
Citroën C3 Aircross Automatique: Automatics, assemble!
It might come as a surprise, but Citroën India has been around for more than three years. In said period, it’s received appreciation for its products and also some flak for being a touch too laidback in marketing them. It started with the Citroën C5 Aircross, a premium SUV which, while not made for those seeking thrills off the road, could easily teach nearly every other product in that price bracket a thing or two about ride quality.
Road Trip: Kutch Gujarat: Kutch nahi dekha, toh kucch nahi dekha

You can boast on Facebook that you went to Antarctica for a motorcycle ride," a local told me as l was lost, almost endlessly, looking at the almost endless salt plains on both sides of the road. A few miles further and you can boast you were crossing seas; the man added. Nowhere in India, possibly the world, can you see such a landscape as Rann of Kutch — salt flats covering almost the entire northern Gujarat and extending into Sindh in Pakistan, followed by a shallow but ocean-like water body.
Tata Tiago and Tigor CNG AMT — All you need to know
 
📝  Expect exports to show uptrend in coming quarters: Cummins India CFO
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🚗 Cars / SUVs

After brief pause, Toyota resumes dispatch of Innova Crysta, Fortuner, Hilux
Toyota has officially resumed dispatch of its diesel-powered models namely Innova Crysta, Fortuner, and Hilux. The Japanese carmaker had briefly paused dispatch of these models on 29 January 2024 after reportedly discovering inconsistencies during its diesel engine horsepower certification testing in the above-mentioned models.
Maruti Suzuki dominates the sales list of top 10 passenger vehicles in January 2024
New Delhi: In January 2024, Maruti Suzuki maintained its stronghold on the Top 10 Passenger Vehicles list, securing seven positions. Baleno emerged as the leader, with 20% year-on-year sales growth totaling 19,630 units. Tata Motors' Punch claimed the second position, recording an impressive 50% year-on-year increase with 17,978 units.
Maruti Suzuki Ertiga achieves 1 million sales milestone
Maruti Suzuki has announced the 1 million sales milestone achievement for the Ertiga MPV. The Maruti Suzuki Ertiga has been one of the best-sellers in the segment, owing to its space and practicality it offers, especially after the update a few years ago.
Honda offering discounts up to Rs 1.11 lakh in February 2024
Following multiple carmakers offering various discounts on their vehicle this month, Honda has also announced discounts for the Honda Amaze and City in February 2024. The discounts offered include cash discounts, exchange bonuses, loyalty benefits and corporate discounts. Here’s a detailed look at the offer.
From Maruti Baleno to Tata Nexon: Top 10 best-selling cars in Jan
2024 started on a positive note for the Indian passenger vehicle (PV) market. A total of 3,93,471 cars were dispatched to dealerships across the country which resulted in a 14% YoY growth and a 37% MoM growth. This reflected in the top 10 best-selling cars as well, most of them recording positive growths. 
Maruti Suzuki Ertiga crosses one million sales milestone
Maruti Ertiga MPV hits major sales milestone, finds 10 lakh homes in India
Hindustan Times
Škoda Auto India launches ‘Responsible Exploration’ campaign
Škoda Auto India announces the launch of its campaign in collaboration with PHD Media. By partnering with the Public Welfare Department and NGO, Keshav Sita Trust, the brand turned waste into recycling and repurposed it into construction bricks – designed for the benefit of rural and remote communities in India.
📝  Toyota Safety Education Programme creates Road Safety Champions
📝  Hindustan Motors report a Rs 11 crore profit after Rs 1 crore loss last year
📝  Tata Punch vs Maruti Ignis: Which micro SUV should you buy?
📝  Hatchback showdown in online car sales: These two Maruti Suzuki models top the list
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Electric-Cars / SUVs

Tata Motors ramps up capacity for electric Punch
Mumbai: Automaker Tata Motors has ramped up its production capacity to accommodate the demand uptick of its electric vehicle -- Punch. Punch is the first offering from the carmaker’s electric vehicle architecture -- acti.ev.

Punch.ev, which was introduced in January at an introductory price of ₹10.99 lakh, has a separate offering for longer ranges. The vehicle’s price can go up to ₹14.49 lakh depending on the personas. The car has a top speed of 140 kmph and a battery pack of 25kWh, which offers a range of 315 km, whereas the longer-range Punch.ev has a battery pack of 35kWh that offers a range of 421 km.
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🏗 Construction & Agri Machinery

Sonalika launches Tiger range of tractors in 40HP to 75HP segment
Sonalika Tractors, one of the leading tractor manufacturers in the country has launched its newest range of ‘Tiger’ advanced heavy-duty tractors in the 40 – 75 HP segment. It has unveiled 10 new products, which it says have been ‘designed in Europe’ with 5 new engines options including (CRDS & HDM+), widest range of 5 different multi-speed transmissions to handle different operations and 3 different advanced & intelligent 5G hydraulics giving a choice of over 140 auto settings.
Escorts Kubota plunges 10%, hits 5-month low on disappointing Q3 results

Further, the company expects a 6-7 per cent volume decline for the overall tractor industry in FY24 and a weak Q1FY25 if elections are declared during the said period.
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🏍 2/3 Wheelers

Hero gets a lift from cool bikes, festive spirits
New Delhi: Greater focus on premium products and a strong festive season sent Hero MotoCorp’s profits zipping into high-growth territory in the October-December quarter. India’s largest two-wheeler maker now plans to continue adding muscle to its premium portfolio, and strengthen its parts and accessories business.
Kawasaki dealership confirms Ninja 500 and Z500 India launch date
Kawasaki unveiled the Ninja 500 and the Z500 at EICMA, and the latter was launched in Europe recently. When the motorcycles were unveiled, they were said to replace the Ninja 400, but the even bigger question was not if Kawasaki would launch the motorcycles in India, but when it be launched. The answer is soon.
What's next for the Pulsar NS200? Bajaj Auto teases exciting updates in latest post
In a recent teaser posted on the official Instagram page of Pulsar, Bajaj Auto has hinted at the imminent launch of the 2024 Pulsar NS200 in the Indian market. While details about the upcoming model remain undisclosed, the teaser prominently features the Pulsar NS200, sparking anticipation among motorcycle enthusiasts.
Deliveries commence for Honda NX500 in India
Honda has commenced deliveries of the NX500, the latest Adventure motorcycle launched in India recently. Launched at Rs 5.90 lakh ex-showroom, the NX500 replaces the CB500X in Honda’s lineup. The new Honda NX500 primarily rivals the Benelli TRK502 and the Kawasaki Versys 650 in India.
Hero MotoCorp posts Rs 1,073 crore profit in Q3 FY2024, plots Rs 600 crore investment for expanding accessories & merchandise biz
Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters has reported its financial performance Q3 FY2024.
2024 Bajaj Pulsar N150, Pulsar N160 launched with new fully-digital display
Bajaj has updated the Pulsar N150 and Pulsar N160 for 2024. The new generation Pulsar duos now benefit from a fully-digital instrument panel which replaces the old semi-digital panel. Besides the new instrument console, both bikes remain practically identical with the same design and specifications. 
📝  Harley-Davidson forecasts 2024 motorcycle revenue below estimates
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🚲 Electric 2/3 Wheelers

Multi-brand electric two-wheeler brand BikeWo to go public, targets 300 stores by 2026
It was in March 2021, Hyderabad-headquartered BikeWo started its journey as a multi-brand electric two-wheeler business, and despite the pandemic it has slowly and gradually expanding its footprint sustainably across the country. In fact, it has already operationalised 57 stores and 18 more will be added by next month.
📝  Lectrix launches LXS 2.0 electric scooter at Rs 79,999; offers 98 km range
📝  Luna makes a comeback in EV avatar, E-Luna launched at just Rs…
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🌇 Allied Industries

Steelbird emerges as world’s largest helmet producer, sold 78 lakh helmets in 2023
Steelbird Hi-Tech has announced its status as the world’s largest helmet producer, achieving an outstanding sales milestone of 77,99,273 helmets globally. In addition to its remarkable helmet sales, Steelbird has successfully sold 3,44,865 side boxes, contributing to a total of 81,44,138 units sold worldwide. 
MRF Q3 profit jumps three-fold on uptick in two-wheeler sales
Indian tyre maker MRF reported a three-fold rise in third-quarter profit on Friday, helped by an uptick in two-wheeler sales.
BorgWarner partners BYD’s FinDreams Battery to localise LFP blade cells for CVs
BorgWarner inks a strategic agreement with FinDreams Battery, a subsidiary of BYD Company. Under this agreement, BorgWarner will be the only non-OEM localised manufacturer, unaffiliated with FinDreams Battery, with rights to localise LFP battery packs for commercial vehicles utilising FinDreams Battery blade cells in Europe, the Americas, and select regions of Asia Pacific. The duration of the agreement is 8 years.
New MD and CEO Mohit Joshi starts on a positive note at Tech Mahindra; goes the Infosys way to create centralised delivery
After three straight quarters of decline, Tech Mahindra posted a sequential growth of 1.8% in the December quarter of FY24, a quarter during which new managing director & CEO Mohit Joshi was at the helm for just 13 days. But the ground work that Joshi laid down over months as the CEO-designate, analysts say, has started showing results in small ways.
Rane Group to merge Rane Brake & Engine Valve with Rane (Madras)
 
📝  Continental completes 1 mn trips on its automated tyre braking test facility
📝  Continental showcases fusion of sustainability and strength in tyres at Bharat Mobility Expo 2024
📝  Murugappa group EV arm plans next round of fund raise
Read More >>

🌢 Fuels, Lubricants & Charging Stations

"Enough oil in the world": Oil Minister Hardeep Puri says India not concerned about OPEC+'s output cuts
Union Oil Minister Hardeep Singh Puri on Friday stated that India's stance on OPEC+ production cuts and Saudi Arabia's decision not to expand output capacity remains firm.
Russian oil: India’s state oil refiners in talks with Rosneft to secure Russian crude for long term
All three of India’s state oil refiners are in talks with Rosneft Oil Co PJSC to secure long-term supplies of Russian crude, an effort to move away from one-off purchases that have left them vulnerable to competition.
📝  Jio-BP to add 250 fuel retail outlets this year, double EV charging points
📝  BPCL launches EPA-grade diesel in strategic move to boost India's energy sector
📝  HPCL to commission Barmer refinery by January 2025: co exec S Bharathan
Read More >>

💸 Finance & Insurance

Ensuring PAYD and BH insurance

Motor Insurance is transforming, driven by better understanding of customer needs and technology advancement.  From products to claims,  every thing is changing. Examples are new-age policies such as Pay As You Drive (PAYD), EV insurance & add-ons, and BH series motor insurance. The rise of such policies indicates that companies are taking a customised approach to motor insurance, as opposed to the historical standard approach.
 
📝  Unveiling Underinsurance: Not just portfolio but insurance coverage matters in house, motor and health: Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance
Read More >>

📖 Magazines News

Tata Curvv interior first image out
Source Credit: Autocar India

The Tata Curvv is undoubtedly the brand’s next big launch, and as the date of its arrival nears, more information about the upcoming rival to the vast sea of midsize SUVs – the Hyundai Creta, Kia Seltos, VW Taigun, Skoda Kushaq, MG Astor, Maruti Grand Vitara, Toyota Hyryder and Honda Elevate – is coming to the surface.
Tata Harrier, Safari, Nexon get up to Rs 1.25 lakh off on MY2023 stock
Source Credit: Autocar India

Tata Motors is offering attractive benefits that include cash discounts and exchange or scrappage bonuses on most of its line-up this February. The benefits on offer are applicable for both fresh 2024 stocks as well as older 2023 models. Let’s take a closer look.
Ground Hero: Attending Hero World 2024
Source Credit: Autocar India

Most of what you need to know about Hero World lies in the name itself. This is an event hosted at the company’s Centre of Innovation and Technology (CIT) just outside Jaipur, which encapsulates all things Hero. It is attended by us media folk, as well as Hero’s investors, suppliers and dealer partners, where the brand showcases everything new that it has to offer. The inaugural running of the event took place in 2020, when Hero unveiled updated BS6 versions of its Glamour and Passion Pro commuters, as well as an updated Xtreme 160R. Also on display was its much talked about 300cc+ off-road prototype, as well as the launch of the Rally Kit for the Xpulse.
Smaller Mercedes G-Class to be EV only, due by 2026
Source Credit: Autocar India

Mercedes-Benz is expanding its popular G-Class line-up, and while the standard G-Class SUV will soon get an all-electric EQG, there will be another “smaller G-Class” SUV that will hit the roads by 2026. This new SUV, just like the EQG, will be EV-only, and will be developed by Mercedes’ new specialist G division as the third model in an expanded G range.
Kinetic E-Luna to be launched in South East Asian markets
Source Credit: Autocar India

Kinetic Green aims to enter the South East Asian market with the E-Luna by December 2024, with a target of doubling the group’s turnover to Rs 2,000 crore. The company plans to sell one lakh electric vehicles per annum domestically and plans to expand to markets like Vietnam, Malaysia, Thailand and Africa. 
Ford starts work on affordable EV platform
Source Credit: Autocar India

Ford is readying an all-new EV platform aimed at the affordable end of the market. This platform will spin off EVs that will rival the entry-level Tesla models and the ones made by many Chinese brands globally. 
Bajaj Pulsar NS200 update teased, launch imminent
Source Credit: Autocar India

Bajaj has teased an update for its aged but still popular Pulsar NS200 after launching the updated Bajaj Pulsar N150 and N160 a few days ago. This is in line with what we reported some time ago that Bajaj is planning to launch many new and updated models this year. 
Toyota Innova Crysta, Fortuner, Hilux despatches resume in India
Source Credit: Autocar India

Toyota Kirloskar Motor has announced that despatches of the Innova Crysta MPV, Fortuner SUV and Hilux pick-up have resumed in India. The Japanese brand’s statement said that Toyota has “re-confirmed that the diesel engines meet the stipulated Indian regulations.” 
Toyota Century to be a global brand
Source Credit: Autocar India

Toyota currently has two high-end products under the Century brand, and a news report now suggests that Century will soon become the carmaker's standalone range of luxury models. The Century range of cars will not just be limited to Japan, but will also be sold in more global markets.
2025 KTM 390 Adventure spotted again, could launch this year
Source Credit: Autocar India

The next-gen KTM 390 Adventure has been spotted on test once again and this time around we have gotten a look at the TFT display and the right hand side of the bike which reveals some key details. 
Maruti Ertiga crosses one million sales milestone
Source Credit: Autocar India

The Ertiga, Maruti’s popular three-row MPV, has crossed the one million-unit sales mark. The Ertiga went on sale back in 2012 and it took eight years and nine months for the MPV to achieve this milestone. Maruti says the last one lakh units of the Ertiga were sold in just eight months.
Read More >>

📰 International News

BorgWarner signs deal with FinDreams Battery for LFP battery packs production
New Delhi: BorgWarner Inc. Friday announced a strategic relationship agreement with FinDreams Battery, a subsidiary of BYD Company Limited.
Japan offers USD 300 mn backing for chip research organisation
Japan's trade ministry said on Friday it would offer backing worth up to 45 billion yen (USD 301 million) to an organisation, including chip foundry venture Rapidus, for research into cutting-edge semiconductor technology.
📝  GM appoints former Tesla executive as VP of battery unit
📝  Volkswagen sticking with North American EV plans
📝  Electric cars can't advertise as 'zero emissions': UK body
📝  Tesla trails Ford and GM in revenue generated per worker
📝  Nissan shares slump as Q3 results highlight China worries, competition
📝  Joe Biden plans sanctions on Chinese smart cars to protect data privacy
Read More >>


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