Top Indian Automobile Industry News & Updates - 15 Feb 2024,Thursday
🏢 Industry
HSRP deadline could be extended again
With a huge chunk of vehicle owners yet to kickstart the process of obtaining high-security number plates (HSRP) despite the Feb 17 deadline fast approaching, the state transport department is thinking of extending it again. A formal announcement will be made shortly.
Delhi to Jaipur in just 2 hours? Nitin Gadkari shares plan to run electric bus on Delhi-Mumbai Expressway, fare to be 30% less than diesel bus – Details here
Union Road Transport and Highways Minister Nitin Gadkari, in a significant stride towards revolutionising India’s transportation infrastructure, said electric bus will be started by laying electric cable on the Delhi-Mumbai Express National Highway. This development aims to reduce travel time from Delhi to Jaipur to two hours, with the fare expected to be 30% less than that of a diesel bus.
Bike taxis get Centre's legal kick-start paving way for new riding option
This move now allows motorcycles to operate legally as contract carriages in India, potentially opening up new transportation options and income opportunities.
Passenger vehicle sales surge 14% to 393,074 units in January: SIAM
Passenger vehicle makers reported record-breaking sales in January, which rose 14% from a year earlier to 393,074 units as dealers restocked inventories depleted during year-end sales promotions.
Ola, Tata Motors continue to lead market in electric two-wheeler, passenger vehicle segments
New Delhi: Ola Electric and Tata Motors continue to lead the market in electric two-wheeler (e2W) and passenger vehicle (PV) segments respectively in retail sales, as per January retail sales data shared by Federation of Automobile Dealers Associations (FADA) on Wednesday.
M&M likely to post 20% revenue growth
Mumbai: Indian automaker Mahindra & Mahindra (M&M) is expected to report strong growth in revenue and automobile volume. According to IIFL Securities, the company is likely to post 20 per cent growth in revenue compared to the year-ago quarter and 6 per cent sequentially. The company’s revenue share in the tractor segment is expected to increase from 24 per cent in the September quarter to 26 per cent in the December quarter. Aided by the seasonality factor the tractor volume could grow 13 per cent sequentially but fall by 4 per cent to the year-ago quarter on weak demand.
Maruti Suzuki Rock N’ Road 4X4 Masters championship North Zone concludes
Maruti Suzuki has announced the completion of the North Zone qualifying leg of the Rock N’ Road 4X4 Masters championship. Launched on 27th January in Delhi followed by Chandigarh on 3rd February, the Rock N’ Road 4X4 Masters is an off-roading championship designed exclusively for budding off-roading enthusiasts who are Jimny owners.
Mahindra posts Rs 2,658 crore profit for Q3 FY2024
Mahindra Group has announced its financial results for Q3 FY2024, which saw a strong growth across business, except TechM.
Hyundai seeks expansion, higher valuation with India IPO
Hyundai Motor's planned USD 3 billion IPO in India will help the carmaker score two goals in one go: expand in one of the world's fastest growing markets and tackle the so-called "Korea discount" that suppresses the value of its business back home.
BYD files Dolphin, Dolphin Mini trademarks in India
Build Your Dreams (BYD) may not be that big a name in the Indian automobile market yet, but the company is one of the leading electric vehicle (EV) manufacturers across the globe. The Chinese brand set foot in India a couple of years ago and currently retails two models– E6 and Atto 3, the former reserved only for fleet operators.
📝 Uttarakhand roads to be like those in US by end of 2024: Nitin Gadkari
📝 Auto dispatches scale new peak as dealers stock up post year-end sales
📝 Auto staff may see another year of double-digit hikes
📝 Tesla may head to India on incentive-paved road
📝 How Gujarat is becoming the hub for EV manufacturing in India
📝 Indian auto industry kickstarts 2024 on a positive note. Check details
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🎤 Interviews & Features
Hyundai’s India listing suspense: If not now, then when?
Will they, won’t they? Why shouldn’t they?
Tata Altroz Racer vs Hyundai i20 N Line comparison
Tata Motors continues to whet the appetite of enthusiasts as it again recently showcased the Altroz Racer at the Bharat Mobility Show. It was first showcased at the 2023 Auto Expo. The performance-based Altroz will go up against its only rival, the Hyundai i20 N Line. ‘
An ISI okay for luxury labels: What’ll we think of next?
Reports this week in Mint on the government’s new quality-control orders on high-end luxury shoes from Louis Vuitton and Christian Dior included the gem that the shoes certified appropriate for pampered Indian women’s feet would be mandated to have an ISI stamp (a sign of Indian Standards Institute approval) to embellish them. This sounded like a comic skit of the new licence raj, written not by Kafka but by those who made Carrie Bradshaw and her love of swanky Jimmy Choo shoes a key theme of the TV series Sex and The City.
Safer, connected, and entertained on the road: MG Motor
MG Motor is perhaps the first car company in India that build its sales and convenience pitch around connectivity with its muchfamous ‘Internet Inside’ tagline. The company today offers a suite of intelligent connectivity features across its product range, and promises that the carcustomer interactions are only going to get stronger over the coming years to offer a safer, connected, and entertaining eco-system to the occupants. TOI's Pankaj Doval speaks to MG Motor India Deputy MD Gaurav Gupta to underst and the pitch around connectivity.
Tech-driven intelligence in new-age cars making consumer rides safer, connected, and intuitive: Harman
It will not be unfair to say that the tech industry today is what is steering the journey of the automobile companies into the future. As one talks about 5G-enabled, connected, smarter vehicles that are high on design and sustainability, what comes across clearly is that mobility of the future will be safer, immersive, stylized, and managed through a series of screens, audio systems, and lighting panels that would make the whole experience highly enriching and customizable.
A holistic approach to vehicular safety: Shailesh Chandra is MD, Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility
Tata Motors, for instance, has pioneered this pursuit by investing in advance state-of-theart digital and physical product development processes, guided by road safety experts. Engineering a safe vehicle is intricate and requires seamless collaboration among a wide set of stakeholders across product development process.
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🚗 Cars / SUVs
Tata Nexon scores 5-star safety rating in Global NCAP, again!
Tata Nexon was one of the first cars to receive a 5-star safety rating at Global NCAP crash tests back in 2018. Over the last few years, people on social media have vouched for the passenger safety offered in Nexon. The subcompact SUV has once again been crash tested by Global NCAP and once again it has received a 5-star rating.
71 specially customised units of Kia Carens delivered to Punjab Police
Kia has announced that it has delivered specially customised Carens to Punjab Police. The law enforcement department of Punjab has inducted 71 units of these Purpose-Built vehicles (PBV) which will be used as Emergency Response Vehicle (ERV) to provide immediate assistance to citizens during emergencies.
📝 Scorpio-N and other SUVs help Mahindra retain India's largest SUV maker tag
📝 Tata Nexon vs Tata Nexon EV: Which SUV costs how much
📝 Mahindra Thar outsells Maruti Suzuki Jimny by huge margin in January. Know more
📝 Skoda Slavia Style Editon launched at ₹19.13 lakh. Limited to just 500 units
📝 Valentine’s Day special: Five cars Indians have special love for. And why
📝 Mahindra Thar 5-door spotted once again, new alloy wheels designed revealed
📝 Waiting for fourth-generation Maruti Suzuki Swift? Possible colour options here
📝 Forgotten flop cars in Indian market: Tata Bolt, Datsun Go and more
📝 Car dealer told to pay ₹2L for ‘mental agony’
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Electric-Cars / SUVs
Tata Motors EV unit announces price cut for its Nexon and Tiago electric vehicles
📝 EV cos cut prices on battery cost reduction, localisation
📝 You could recover additional cost of Tata Nexon EV within a year. Here's the math
📝 Nexon EV to Comet EV: Here's why prices of these electric cars were reduced
📝 Is Maruti Suzuki more focused on CNG and hybrids than pure electric?
📝 Hybrids or EV?: A major dilemma amongst global automotive players
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🚗 Luxury Cars
Mercedes-Benz showcases futuristic AMG GT6 sports concept car in Mumbai
Mercedes-AMG GT6 concept showcased at Nita Mukesh Ambani Cultural Centre
Adoption of EVs not a sprint, but a marathon: Santosh Iyer, MD & CEO, Mercedes-Benz India
“If you have to go fast, go alone; if you have to go far, go together” is an old African saying that remarkably underlines India’s quest and transition to electric mobility. It’s a long journey to the mission of achieving a carbon-neutral future, and we must take our customers along in this journey. This journey will be more of a marathon that requires close collaboration and deep commitment amongst businesses, policy makers and most importantly from consumers and society at large.
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⛟ Commercial Vehicles
Mahindra not to bid for e-bus tender, primary focus on strengthening CV business first
Mumbai-headquartered auto major Mahindra & Mahindra has no plans to bid for tender in the e-bus segment, despite the government’s “payment security mechanism.”
ZF Commercial Vehicle eyes a strong growth curve aided by new regulations and e-mobility
Chennai: ZF Commercial Vehicle Control Systems India Ltd, an arm of Germany-headquartered global auto parts supplier ZF Group, expects to sustain a double-digit growth going forward, aided by new regulations in the commercial vehicle as well as passenger vehicle segments and adoption of electric mobility, the company management indicated while launching its new multi-product factory at Oragadam near Chennai.
Commercial vehicle sales likely to enter into a downcycle in 2024-25
The CV industry is expected to end FY24 with a 2-5 per cent growth in volume but in FY25 it may decline by 4-7 per cent, according to rating agency ICRA.
📝 CM Shinde dedicates 5,150 electric buses to MSRTC fleet
📝 Urban Sphere launches Ivoryline 9m e-bus series in Pune
📝 350 e-buses launched in Delhi, Kejriwal says capital has highest number of such buses
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🏗 Construction & Agri Machinery
Tractor industry sales likely to dip 5% due to agri activities slowdown
The market leader in tractors in India, Mahindra and Mahindra, felt that the year would end with around 900,000 units in sales compared to 945,000 units sold in 2022-23. M&M enjoys a 41.8 per cent share of India’s tractor market and it has managed to gain share from 41 per cent in Q3FY23 despite the market witnessing a slowdown.
Co cuts tractor sales forecast
From a forcast of low singledigit growth, it now expects tractor sales in the world's largest market to decline 5% yearon-year. For the ongoing March quarter, the tractor market leader has forecast a 10% decline for the industry.
📝 The rural economy is under stress, says Mahindra & Mahindra; cuts tractor industry sales forecast for FY24
📝 Farmers' demand for guaranteed MSP unlikely to have significant impact on tractor industry: M&M
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🏍 2/3 Wheelers
Top 5 two-wheeler brands exported in January 2024
We have already seen the top-selling motorcycle brands in January in terms of domestic sales. Now, let’s take a look at the top five two-wheeler brands in terms of exports in January 2024, compared to their export numbers in January 2023, along with their YoY growth.
Triumph Scrambler 1200 X debuts in India, starting at ₹11.83 lakhs: All details
Triumph has launched its much-awaited Scrambler 1200 X in India, starting at a price of ₹11.83 lakh ex-showroom for the Sapphire Black colour scheme. The Carnival Red and Ash Grey variants are priced at ₹12.13 lakh ex-showroom.
Two-wheeler sales see strong revival, PVs and 3Ws continue to remain resilient reveals SIAM
The Society of Indian Automobile Manufacturers (SIAM), the apex body representing automakers in the country has released the wholesales data for January 2024.
Hero Mavrick 440 launched at Rs 1.99 lakh— bookings open
Hero MotoCorp has finally announced prices for the Mavrick 440 starting at Rs 1.99 lakh. Available in three variants– Base, Mid, and Top– the latter two variants are priced at Rs 2.14 lakh and Rs 2.24 lakh (all prices ex-showroom). The bikemaker has also officially started accepting bookings for its new flagship from today, i.e, 14 February 2024, for a token amount of Rs 5,000.
Hero MotoCorp announces Mavrick 440’s price, introduces welcome offer
Hero MotoCorp Ltd. announced the pricing and opened bookings for its flagship motorcycle -- the Mavrick 440 -- starting today. The motorcycle will be available in three variants - Base, Mid, and Top, priced at ₹199,000, ₹214,000, and ₹224,000 respectively with deliveries scheduled to begin in April.
📝 Hero Moto's got wind in its wheels, with strong models, rising demand
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🚲 Electric 2/3 Wheelers
mXmoto launches M16 e-bikes with metal body at prices starting from INR 1.98 lakh
New Delhi: mXmoto, one of the emerging leaders in the clean mobility sector, has introduced the metal-strong M16 e-bikes with strength and durability for the Indian roads at ex-showroom prices starting from INR 1,98,000.
Kabira Mobility launches KM3000 and KM4000 electric motorcycles in India
Goa-based EV startup, Kabria Mobility, has launched two new electric motorcycles in India – KM3000 and KM4000 – priced at Rs 1.74 lakh and Rs 1.76 lakh, ex-showroom. The two electric motorcycles feature an aluminium core hub motor powertrain, developed in collaboration with Foxconn.
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⚙ Components
📝 Bosch posts Q3 profit climb on healthy auto parts demand
📝 Growth worries may keep Bharat Forge under pressure; earning estimate cut
Read More >>
🌇 Allied Industries
Harman’s Pune factory is a manufacturing overachiever
New Delhi: We have written several stories about the cutting-edge R&D work that Harman – best known for audio brands like JBL, Bang & Olufsen and Harman Kardon, and car infotainment products – does out of India. The USD 10-billion company, part of the Samsung Group since 2017, also has an outstanding automotive electronics manufacturing plant in Chakan, Pune.
Driving into the future: Exploring next level of connected vehicle megatrend
New Delhi: In the bustling landscape of automotive technology, the future promises an exciting journey into the realm of connected vehicles. Darshan Shetty, Head of Business Area, Architecture, and Networking at Continental Automotive India, shed light on the next level of connected tech during an interaction with ETAuto at the Bharat Mobility Global Expo 2024 in New Delhi.
Surging demand for PVs and CVs drive Bosch India’s profit to Rs 518 crore for Q3 FY2024
Bosch, a leading supplier of technology and services has announced its financial results for Q3 FY2024.
📝 Tata hails Uber to drive Neu traffic
📝 Sodion Energy launches India’s first Sodium Ion battery
Read More >>
🌢 Fuels, Lubricants & Charging Stations
Crest issues fresh reminder to MC on EV charging stns
The Chandigarh Renewable Energy, Science & Technology Promotion Society (Crest) has shot off a fresh reminder to the municipal corporation (MC) for signing of the pending memorandum of understanding (MoU) between the two on public electric vehicle (EV) charging stations.
Confidence Group expands auto industry presence, invests Rs 350 crore for Type 4 cylinders and targets Rs 10,000 crore revenue by FY2026
Nagpur-based Confidence Group is foraying into the alternate fuel space in a big way and targets Rs 10,000 crore revenue milestone by March 2026. It is also looking to increase its footprint in terms of expanding CNG fuelling stations and providing EV charging facilities. Recently, the company also unveiled a type-4 cylinder, claimed to be a safer and more efficient option for transportation and storage of gaseous fuel.
India joins the race for lithium reserves
India’s rising energy demands has placed a significant emphasis on securing sustainable and clean energy resources. With the global impetus towards renewable energy and the electrification of transportation, the importance of lithium as a key component in lithium-ion batteries has become paramount.
📝 INR 96 crore boost for 3EV from MGL: A new era for India's EV ecosystem
📝 Oil prices fall on sticky inflation, bigger-than-expected US crude stock build
Read More >>
💸 Finance & Insurance
Why It’s advisable to check Car Insurance online before buying a new Car?
In today’s fast-paced digital world, purchasing a new car involves more than just selecting a model and making a payment. One crucial aspect often overlooked by buyers is securing the right car insurance.
📝 M&M Q3 standalone PAT surges 61% to ₹2,453.98 crore
Read More >>
📖 Magazines News
Tata Nexon secures 5-star Global NCAP rating under new protocol
Source Credit: Autocar India
The Tata Nexon has added another feather in its cap by securing a 5-star rating from Global NCAP yet again, albeit under the more stringent norms that came into effect in 2022; the compact SUV had previously scored a 5-star rating in Global NCAP in 2018. The Nexon facelift that was launched in September 2023 was a part of the last batch of vehicles sent to the road safety organisation, along with the Harrier and Safari facelifts.
Hero Mavrick 440 vs rivals: specifications compared
Source Credit: Autocar India
The Mavrick has been launched in India and here, we stack the most expensive Hero to date against its rivals and its American counterpart.
Skoda Slavia Style Edition launched at Rs 19.13 lakh
Source Credit: Autocar India
Skoda has launched the Style Edition of the Slavia sedan at Rs 19.13 lakh (ex-showroom), which is Rs 30,000 more than the top-spec Style trim it is based on. This edition is limited to just 500 units and is available exclusively in 3 paint shades – Candy White, Brilliant Silver and Tornado Red. Previously, the Slavia has got special editions like the Matte edition, Elegance edition and Lava Blue edition.
BYD Seal India launch on March 5
Source Credit: Autocar India
BYD Auto is set to expand its portfolio in India with the launch of a third model, the Seal all-electric sedan. The Seal EV will join the Atto 3 SUV and e6 MPV in BYD’s India line-up on March 5; as we had reported earlier, dealers have already unofficially begun accepting bookings for the model. The Seal has also been spied testing recently on the outskirts of Chennai.
Hero Mavrick 440 launched, prices start at Rs 1.99 lakh
Source Credit: Autocar India
After unveiling it at Hero World 2024, Hero has launched the Mavrick 440 in India with prices ranging between Rs 1.99 lakh-2.24 lakh.
Ford inches closer to India re-entry, trademarks Mustang Mach-E
Source Credit: Autocar India
After having applied for a design patent for the next-gen Endeavour in India, Ford has now trademarked the Mustang Mach-E nameplate, suggesting that it is inching closer to a re-entry in our market. In fact, the Mustang Mach-E was the first vehicle that Ford had actually confirmed for an India launch soon after it wrapped up local operations in 2021.
Skoda Octavia facelift revealed
Source Credit: Autocar India
Skoda has revealed the Octavia’s mid-life facelift, bringing technology and sustainability upgrades to its sedan. The Octavia was on sale in India for over 20 years, officially selling over 1 lakh units before it was taken off the market due to strict RDE norms. But Skoda has not confirmed whether it will bring the facelift to the Indian market.
Mahindra Thar, XUV700, Scorpio, XUV300, Bolero backlog reduced to 2.26 lakh units
Source Credit: Autocar India
Mahindra has announced that it has 2.26 lakh open orders for its SUV line-up as of February 1, 2024, which is a significant reduction over the 2.86 lakh unit backlog the brand had at the beginning of November 2023. The brand says that it receives an average of 50,000 bookings per month, and has ramped up deliveries to about 40,000 units in a month; this, along with a previously announced ramp up in production, has helped reduce the number of open orders Mahindra currently has.
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📰 International News
Sony, Honda EV venture to roll out three models before 2030
New Delhi: A joint venture set up by Japan's Sony Group and Honda Motor will introduce three electric vehicle (EV) models by the second half of this decade, the Nikkei business daily reported on Wednesday.
The six months that short-circuited the electric-vehicle revolution
📝 China's BYD plans new electric vehicle plant in Mexico, says Nikkei
📝 GM Cruise robotaxi unit names former Ford, Apple exec as safety chief
📝 SUVs help keep Michelin profits rolling in
📝 Chipmaker GlobalFoundries forecasts Q1 results below estimates, shares drop
📝 Exxon, Enbridge sued by competitor over crude oil transportation
📝 Global EV sales up 69% Y-o-Y in Jan, down 26% vs Dec - Rho Motion
📝 Elon Musk, Tesla shareholder to propose a stay of pay ruling during appeal
📝 Ethiopia becomes first country in the world to ban petrol & diesel car imports
📝 Honda unveils CR-V SUV prototype with hydrogen fuel-cell technology
Read More >>
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