Road ministry to come up with cashless treatment for accident victims
The government will soon come up with a cashless treatment facility for all road accident victims at the Ayushman Bharat hospitals while work is on to rectify about 5,000 remaining black spots in the country by May 2025 as the aim is to reduce road accident related death and injuries by half by 2030, road secretary Anurag Jain said.

Not just FAME, EV industry wants FM Sitharaman to do these changes in Budget Bahi Khata
The electric vehicle industry in India is advancing at a rapid pace. However, industry players note that it still needs some hand-holding as it is yet to mature. There is almost a consensus on the government continuing FAME subsidies in FY25. Along with that, many industry players have asked for GST parity for EV batteries, as well as financial incentives such as tax credits, subsidies, and low-interest loans.

For hybrid car makers who wanted tax cuts, hopes are fading
New Delhi: The upcoming interim budget is unlikely to have any additional incentives for hybrid vehicles, people aware of discussions in the government said.

PPS Motors partners with Tata Hitachi, opens new 3S facility in Salem, TN
New Delhi: PPS Motors, a part of the larger dealer network, inaugurated a new 3S facility for Tata Hitachi in Salem, Tamil Nadu. Through this 3S facility, PPS Motors will be catering to the customers of the construction and mining equipment range of Tata Hitachi in the region, the company said in a media release.

JSW Group Defence arm acquires Gecko Motors to make equipment for Army
New Delhi: JSW Group, a leading corporate conglomerate, has established a new business vertical, JSW Defence and Aerospace (JSW Defence). JSW Defence has acquired a majority stake in an extreme off-road vehicle company, Gecko Motors Private Limited, now renamed as JSW Gecko Motors Pvt Ltd (JSW Gecko.)

Foxconn chief, three India Inc honchos among Padma awardees
New Delhi: India’s list of Padma awardees for 2024 had the surprise inclusion of Foxconn chief Young Liu among three other India Inc. honchos in the “trade and industry” section. Young Liu, Chief Executive Officer and Chairman of Taiwanese tech giant Hon Hai Technology Group (Foxconn) became the first foreign national to have been conferred the Padma Bhushan. The other Padma Bhushan awardee from the business field was Sitaram Jindal, Founder Chairman and Managing Director of Jindal Aluminium. Veteran Indian banker Kalpana Morparia and Izmo Chairperson Shashi Soni were conferred the Padma Shri..

Ola’s India Mobility business turns profitable in FY23, aims to serve 1 bn customers
Ola’s India mobility business turned EBITDA positive in FY2023, appoints Unilever’s Hemant Bakshi as CEO

EV startup Evera eyes large B2B opportunity

Bengaluru: Delhi-Based Electric Cab service provider Evera is seeing a big opportunity in its enterprise partnership segment, where it offers transportation services to employees. The company has 15 such partnerships in Delhi-NCR currently, which at present has a demand for about 1,000 cars.

"The market opportunity is immense. The way people have switched towards EVs from traditional CNG or ICE cars, it's very aggressive.  We have already tied up for requirements for close to 1,000 cars within these 15 accounts but we want to scale our fleet gradually; co-founder and CEO Nimish Trivedi told FE in an interaction. 

Expand PLI scheme coverage to more sectors, India Inc tells FM Sitharaman
Ahead of the vote-on-account on February 1, India Inc has urged the Finance and Corporate Affairs Minister Nirmala a Sitharaman to expand the production linked incentive (PLI) scheme beyond 14 sectors in her upcoming Budget speech. PLI scheme was introduced during the pandemic in November 2020 as part of the Government’s “Aatmanirbhar Bharat” package. 

Tata Motors teases first-ever factory-fitted iCNG AMT cars: All details
Tata Motors recently unveiled teasers for its upcoming iCNG AMT cars, marking the first instance of a factory-equipped CNG vehicle with an AMT transmission. Bookings are now officially open for the Tiago iCNG AMT and Tigor iCNG AMT, with a booking amount of ₹21,000. The Tiago will come in three variants – XTA CNG, XZA+ CNG, and XZA NRG, while the Tigor iCNG AMT will be offered in two variants – XZA CNG and XZA+ CNG.

Tata Tiago CNG AMT and Tigor CNG AMT: What to expect?
Tata Motors is all set to introduce automatic manual transmission (AMT) technology in the CNG segment for the first time in India. The company has opened the bookings for both the Tiago iCNG AMT and Tigor iCNG AMT at Rs 21,000. The customer can book the CNG vehicle at the nearest Tata Motors dealership or on the official website. 

Car Review: Tata Punch EV: Can this tiny electric SUV punch above its power?
Sport Utility Vehicles (SUVs) shouldn't be judged by their size, but by their capability. Any SUV that can easily traverse off-road conditions is a good SUV. If it's an electric, it also has to be good on range, on power, on price. 

1.5 million EVs were sold in India in 2023. But who will repair them?
Kumar Rao’s work and earnings have taken a sharp turn to the right side. From whizzing around Bengaluru as an on-call type puncture repairman, the 27-year-old Rao now also repairs electric vehicles.

Maps, but no maps: Three words, one world
I live in an apartment called Regency Park, Gurgaon. But if you need the exact address of my doorstep, it is ///harp.straying.shelf.Input these words on what3words website or app, and it will bring you to my doorstep via Google Maps, Waze, Bing Maps or, soon, HERE maps.

Hyundai Creta N Line coming soon: What to expect?
Hyundai has recently launched the most successful mid-size SUV, the 2024 Creta facelift. The Korean manufacturer is known not to sit on its past laurels, therefore, it is working on the Creta N Line. Currently, only the i20 and the Venue are available in this sporty avatar. The Creta N Line is expected to make its debut at the beginning of the upcoming new financial year.

Revenue from large clients is growing faster than Birlasoft’s average: CEO Guha
Birlasoft’s third quarter revenue grew by 2.5% quarter-on-quarter (q-o-q) to Rs 1,343 crore, with revenue from the top 10 and top 20 clients grew at 3.2% q-o-q, Angan Guha, CEO and MD, Birlasoft, said in an interaction with FE. Guha added, “Our client mining strategy is going very well, and that is something we are incredibly proud of.”

XUV400: Pro and Cons
It’s no secret that Mahindra is developing a wide range of all-electric SUVs. These have been showcased in concept/pre-production form in the last two years: from large SUVs to an off-road-ready one, there’s a lot that Mahindra might offer in the near future. This makes all the more sense as the industry looks at electrification more seriously than just a token presence in the alternative fuel segment.

Punching above its weight
In the automotive sphere, as an adjective, ‘all-new’ is probably the most misused one. On the one hand, it does enable marketers to sell refreshed models as ‘all-new’, but there’s no denying that more often than not, these aren’t exactly all-new. Facelifts, model-year revisions, and even small mechanical updates can indeed turn an existing model into something more likeable, but a complete transformation isn’t likely to happen. The latest all-electric model to come out of the Tata stable, the Punch.ev, looks to us like an all-new car, but is it actually one, considering the Punch itself has been around for a while? We try and find at a first drive event of what’s expected to be a game-changer for Tata Motors.

Maruti Suzuki Fronx racks up 1 lakh sales in 10 months
The Maruti Suzuki Fronx has become India’s fastest passenger vehicle to achieve the 1 lakh sales milestone since its launch 10 months ago. The Fronx was first showcased at the Auto Expo 2023 and launched on 24th April.

Volkswagen India expects 20% growth in sales this year
Mumbai: Volkswagen India is planning to achieve a 20 per cent growth in sales in 2024. The company will also expand its presence in the hinterland. In 2023, the company saw an 8 per cent increase in retail sales with 43,700 car deliveries. The company’s Taigun, Virtus and Tiguan recorded a growth of over 20 per cent in retail sales in 2023.

Maruti Suzuki Baleno, Brezza and Grand Vitara to undergo BNCAP crash tests
Maruti Suzuki confirmed that they will send the Baleno, Brezza and Grand Vitara for Bharat NCAP crash safety testing. Shashank Srivastava, Senior Executive D, Sales and Marketing, Maruti Suzuki said that three cars will undergo the BNCAP crash tests. The company hasn’t revealed when the ratings will be announced. Maruti Suzuki also announced that Fronx crossed 1 lakh sales in ten months. This is a record in the Indian market as no other vehicle in any segment has managed to achieve this feat. The second fastest Maruti Suzuki to reach this mark is the Grand Vitara. 

India market contributes 13% of Hyundai Motor’s global sales in 2023
Hyundai Motor Company has announced its 2023 annual and fourth quarter business results. Last year, the company sold 4,216,898 vehicles worldwide, up 7 percent from 2022. The annual revenue increased 14.4 percent to KRW 162.7 trillion (Rs 10,12,031 crore). The annual operating profit climbed 54 percent to KRW 15.12 trillion (Rs 94,049 crore), with an operating profit margin of 9.3 percent. Hyundai Motor recorded an annual net profit of KRW 12.27 trillion (Rs 75,451 crore), up 54 percent year over year.

Porsche Macan EV launch : Official sketches unveiled
Porsche will be launching the all-new electric Macan on January 25th in Singapore. The Macan is the first Porsche from the current lineup to go electric. The German luxury car manufacturer was clear that the Macan EV has to have the typical Porsche traits and Macan looks first. Vice President Style Porsche Michael Mauer explained that “the new one” should have the visual consistency of the Porsche brand by striking the right balance between “quintessentially Porsche” and “innovative”. 

Porsche Macan goes green: Turbo EV launched at Rs 1.65 crore
Porsche has launched the much-awaited Macan EV, which is the company’s first all-electric SUV. Ever since the launch of the Macan ten years ago, Porsche has decided to take out its second generation edition which will be an-electric SUV. Sticking to its design philosophy and performance, the Macan EV adds long-distance range and fulfils the requirements of Porsche customers choosing an SUV.

Mercedes-Benz India to unveil Concept EQG at ‘Bharat Mobility Show’ on Feb 1, 2024
New Delhi: Luxury carmaker Mercedes-Benz India will showcase a product range comprising concept and production SUVs at the upcoming ‘Bharat Mobility Show 2024’ in New Delhi, underlining the brand’s aim to create ‘desire for iconic luxury’, and to continue its product offensive for the Indian market in 2024.

Maserati appoints Luca Delfino as global Chief Commercial Officer
Luca Delfino has been appointed Maserati’s new global Chief Commercial Officer. Following the announcement of the arrival of the new global Chief Marketing Officer at the beginning of January, the House of the Trident now welcomes the Italian manager to his new role, after serving as Managing Director for the EMEA Region for nearly three years.

Baby, you can drive my EV: Santosh Iyer, The writer is CEO-MD, Mercedes-Benz India
 

Home Minister Amit Shah launches e-bus service in Jammu via video conferencing
Union Home Minister and Minister of Cooperation Amit Shah launched e-bus service in Jammu and distributed more than one thousand appointment letters for Jammu & Kashmir Combined Examination-2024 and compassionate appointment through video conferencing from New Delhi on Thursday. Amit Shah also launched 100 fully air-conditioned e-buses in Jammu.

Volvo Bus India bags order for 122 luxury coaches from Govt of Odisha
New Delhi: Volvo Bus India has secured an order for 122 premium luxury coaches from the Government of Odisha under the Location Accessible Multi-modal Initiative (LAccMI) Scheme, a flagship program initiated by the Commerce and Transport (C&T) Department to provide rural connectivity through Odisha State Road Transport Corporation (OSRTC).

Mass mobility
Source Credit: Business Standard Editorial 

With the second edition of Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME-II) about to end in March, the government is reportedly drawing up the contours of FAME-III, focused on mass mobility. The plan is to replace 800,000 diesel buses, which account for one-third of the buses on the road, with electric buses to make public-transport systems more environmentally sustainable. The shift in focus to mass mobility, which delivers better emission outcomes than personal mobility solutions do, is a good decision. To this end, the government is reportedly planning more than halving FAME funds for e-two-wheelers on grounds that the penetration of e-buses has fallen sharply to 3.3 per cent in 2023 from 4.6 per cent in 2022. Only 4,000 e-buses ply on roads compared with 2.3 million diesel and CNG (compressed natural gas) buses. The scheme under discussion seeks to address some of the issues that have limited the penetration of electric vehicles (EVs) — such as earmarking funds for charging infrastructure, especially on highways, and on enhancing EV facilities around the country.
 

Why is Ashok Leyland stock under pressure? Blame the headwinds, but don’t ignore the positives.
What is one key factor that drives truck manufacturing? Growing industrialisation – that’s what common knowledge will tell you. But the latest numbers defy this notion.

Two-wheelers to drive up Bajaj Auto's margins
The stock of Bajaj Auto gained over 4% on Thursday despite weakness in the broader market following the bike major’s margin resilience and improving share of premium products in the December quarter. The company is expected to retain the business momentum given the traction in premium bikes and ability to sustain profitability.

Hero Mavrick vs Harley-Davidson X440 – Similarities and differences explained
New motorcycles in the sub-500cc category continue to come into the Indian market and the latest is the Hero Mavrick, a retro roadster based on the Harley-Davidson X440 platform. While Hero has not announced the prices yet, the Mavrick is an interesting alternative to many motorcycles in the segment, including the X440.

Honda inaugurates Red Wing dealership in Rajkot
Honda Motorcycle & Scooter India (HMSI) has inaugurated its new sales & service Red Wing outlet in Rajkot, Gujarat – Parajiya Honda. The company’s latest Authorized Main Dealership (AMD) has the 4S setup which includes the industry norm of Sales, Service, Spare Parts and the 4th ‘S’ unique to Honda which is Safety Riding Promotion.

Red Sea crisis doubles shipping rates, time; Two-wheeler exports in troubled waters
Freight rates and shipment times to Latin America and Africa — key markets for Indian two-wheeler makers such as Bajaj Auto and TVS Motor Company — have doubled due to the shipping crisis in the Red Sea.

Hero Xtreme 125R launched in India; check price, features, and more

The look of the all-new Hero Xtreme is sporty and muscular, which comes with a fuel tank and sharp tank extensions. It also has a sharp headlight and an all-LED taillight, and its indicators add to the sporty appeal of the bike.

Pure EV to integrate AI-based X platform across its range
Pure EV has announced the integration of the next-gen AI-based X platform across its entire product lineup. The Platform was initially integrated into the company’s ultra-long variant models – ePluto 7G MAX, which garnered substantial response among the users. 

HMC HIVE Partners with Belgian Cycle Factory to export cycles and E-bikes to Europe
New Delhi: HMC HIVE, a Hero Motors Company, from its integrated e-cycle manufacturing facility at Hero Cycle Valley in Ludhiana, said on Thursday that it is partnering with Belgian Cycle Factory, a leading cycling company in Europe and owner of brands Ridley and Eddy Merckx, to produce and export advanced Made-in-India cycles and e-bikes to the European markets.

Kinetic Green aims 1 lakh sales of new e-Luna
Kinetic Green Energy and Power solutions is aiming to achieve sales of 1 lakh units of its soon to be launched electric version of the iconic moped Luna in 2024.

Bajaj Chetak sales gallop: New store every two-and-a-half days, price correction, upgraded variant
It is obvious that the market share gains made by Bajaj and TVS are on the back of shrinking shares of pure-play e2W OEMs. Ampere, Okinawa and Hero Electric were at 12%, 13% and 12% share of the market in 2022-2023. In other words, these three companies were accounting for more than a third of the entire e2W market last fiscal. But by December 2023, their shares had dwindled to

CCI finds no dominance in the electric two-wheeler market, junks plea against Ola, TVS, Ather and Vida
In what may come as good news to Ola Electric, TVS Motor Co, Ather Energy, and Hero MotoCorp (Vida), the Competition Commission of India (CCI) has junked a plea against them for taking unfair advantage of the FAME policy.

Ola unveils e-bike service in Delhi, Hyderabad; plans 10K EVs across cities

The company plans to deploy 10,000 e-vehicles across these cities over the next 2 months. This is in line with its vision and growth strategy to serve 1 billion Indians and nationwide penetration with electrification.

Bajaj Auto vows to boost E2W sales with new launches, footprint expansion

Bajaj Auto is preparing to increase the monthly sales of its electric scooter Chetak, supported by the launch of new models and network expansion. The expansion is expected to help the domestic two-wheeler major to strengthen its position as a strong Number 3 player in the electric two-wheeler market in the near term.

Kinetic Green to launch E-Luna in February, bookings start on January 26

Consumers can secure their E-Luna by pre-booking on the Kinetic Green website for an amount of Rs 500. Kinetic had started a pilot around September in some locations of Maharashtra with an aim to sell the vehicle to a couple of thousand people and gather customer feedback.

Rane (Madras) opens new facility in Aguascalientes, Mexico, for steering parts
New Delhi: Rane (Madras) Ltd, a leading manufacturer of steering and suspension products and light metal casting components, has established a greenfield facility for manufacturing steering and suspension components for passenger vehicle application through its wholly-owned subsidiary, Rane Automotive Components Mexico (RACM), in Aguascalientes, Mexico.

Rane Group posts 66.3% fall in Q3 net profit to INR 11.2 cr
Auto components maker Rane (Madras) on Thursday reported a whopping 66.3% fall in standalone net profit to INR 11.2 crore in the October-December quarter over the same period last year. The standalone net profit in the third quarter of FY23 was at INR 33.3 crore, the company said.

Ola's net loss narrows to ₹772 cr in FY23; total accumulated loss crosses ₹20k crore
The company posted a consolidated loss of ₹1,522.33 crore in the financial year (FY) 2022. The consolidated revenue from operations increased by about 48 per cent to ₹2,481.35 crore in FY23 from ₹1,679.54 crore in FY22.

Tata Tech posts Rs 170 crore net profit in Q3 FY2024
Tata Technologies, a leading global engineering services company has announced its financial results for the Q3 FY2024 with revenue of Rs 1,289 crore, up 14.7 percent YoY, the net profit came at Rs 170 crore, up 6.1 percent respectively.

Ola announces ex-Unilever executive Hemant Bakshi as new CEO
New Delhi: ANI Technologies, the parent company of Ola, has announced Hemant Bakshi, a former executive at Unilever, as the new Chief Executive Officer (CEO) of Ola, according to media reports.

Agratas partners with Tata Tech to fast-track battery solutions for mobility
New Delhi: Agratas, Tata Group’s global battery business, and Tata Technologies, a global product engineering and digital services company, have announced their collaboration to scale Agratas’ product development and enterprise systems, supporting the design, development and manufacturing of best-in-class battery solutions.

Krutrim, founded by Ola CEO Bhavish Aggarwal is India's first $1 billion AI startup
Krutrim, the AI startup founded by serial entrepreneur Bhavish Aggarwal, has gained unicorn status after securing $50 million in funding from investors including Matrix Partners India.

CEAT beats profit view on higher margins from price hikes
Indian tyre maker CEAT reported a bigger-than-expected rise in third-quarter profit on higher margins, as price hikes made up for a rise in raw material costs and a slow recovery in sales growth.

Exide posts Rs 240 crore net profit for Q3 FY2024, up 7.6%
Exide Industries, one of the leading battery brands for the automotive and industrial segment has announced its financial results for Q3 and 9 months of FY2024.

Amara Raja’s first gigafactory to begin commercial production by end-2025
Amara Raja Group, one of India’s leading energy storage companies will commence commercial production of lithium-ion batteries in the next 2 years.

Altair opens Innovation Experience Centre in Pune
Altair, a leading software solution provider in computational science and artificial intelligence (AI) has opened its new Innovation Experience Centre, located at its office in Pune.

IGL net profit jumps 41% on higher CNG, piped gas sales
New Delhi: Indraprastha Gas Ltd, India's leading CNG retailer, has reported a 41 % jump in third quarter net profit, as the firm recorded higher sales of CNG to automobiles and piped cooking gas to households and industries. The company clocked a net profit of INR 392.07 crore in October-December - the third quarter of current fiscal that started in April 2023 - compared to INR 278.26 crore in the same period in the previous year, it said in a statement.

HPCL net profit trebles to INR 529 cr in Q3
New Delhi: Hindustan Petroleum Corporation Ltd (HPCL) on Thursday reported trebling of profit in the December quarter as robust marketing margin negated inventory losses. Standalone net profit of INR 529.02 crore, or INR 3.73 per share, in the December quarter, as compared to INR 172.43 crore, or INR 1.22 a share, in last year, the company said in a statement.

Essar Oil UK rebrands as EET Fuels
New Delhi: Essar Oil UK has become EET Fuels as it delivers on its plan to become the UK's first low-carbon refinery, the firm said on Thursday. Essar Oil UK owns the Stanlow refinery in the UK and is developing low-carbon energy transition projects.

India expects fuel demand to grow 2.7% in the next fiscal year
Consumption of aviation fuel is also likely increase by more than 8% to 9 million tonnes, compared with the estimate of 8.3 million tonnes for the fiscal year ending March 2024. Consumption of bitumen, used for making roads, is likely to rise by 3.4%, while naphtha demand is expected to drop by 7.4%. Demand for petcoke, a better-burning alternative to coal, could increase 4.1% to 20.1 million tonnes, while demand for liquefied petroleum gas, used as cooking fuel in the country, is estimated to grow by 2.4% to 30 million tonnes, PPAC data showed.

Govt halves Budget support to oil firms, defers filling strategic oil reserves
Alongside, she had also proposed INR 5,000 crore for buying crude oil to fill strategic underground storages at Mangalore in Karnataka and Visakhapatnam in Andhra Pradesh that India has built to guard against any supply disruptions. That plan has also been deferred in view of emerging trends in oil markets, the finance ministry said.

Pollution control board's approval must for vehicle scrapping facilities

Under the latest set of amendments issued on Tuesday, vehicle scrapping facilities (VSFs) will now require approval from the pollution control boards for both consent to establish (CTE) and consent to operate (CTO). Currently, VSFs are registered directly without any such approval.
 

Why Choose Tata AIG Comprehensive Car Insurance For Your Vehicle?
 

Shriram Finance PAT up 2.3%, AUM growth strong but higher opex weighs
Shriram Finance’s net profit for Q3 FY24 rose 2.33 per cent y-o-y and 3.85 per cent q-o-q to ₹1,818 crore. On-year profitability was muted largely owing to the three-way merger of Shriram City Union Finance and Shriram Capital with Shriram Transport Finance in December 2022.

Next-gen Jeep Compass to get electric powertrain in India
Source Credit: Autocar India

The next generation of the Jeep Compass SUV is currently under development and is coming to India in 2026. Codenamed J4U, it will be based on parent company Stellantis’ STLA M platform, which is capable of accommodating a variety of top hats, and ICE and electric powertrains. We had reported on all this five months ago, but a new nugget of information has surfaced – Jeep is expected to bring an all-electric Compass to India with the next generation.

Tata Curvv to get Nexon's 1.5-litre diesel powertrain
Source Credit: Autocar India

Tata Motors has previously shown both an electric as well as a petrol version of its Curvv concept, and announced that both would see a market launch. However, we have learnt that the company is also readying a diesel-powered Curvv.

Bajaj Pulsar NS400, new Chetak variant launching soon
Source Credit: Autocar India

Riding on strong sales and market share gains, Bajaj Auto now plans to bring out new products, expand its network and bring in new technologies. A new Chetak, Pulsar NS400 and a CNG-powered bike are on the anvil. 

Porsche Macan EV Turbo launched at Rs 1.65 crore
Source Credit: Autocar India

Porsche has revealed its second electric car - the all-new electric Macan - which will arrive with a choice of two four-wheel-drive variants: the 408hp Macan 4 and the 639hp Macan Turbo. Porsche India has opened bookings for the Macan Turbo, with an ex showroom price of Rs 1.65 crore and deliveries due to commence by the second half of 2024. The company has  however not released any details regarding India pricing for the Macan 4 variant.

New TVS electric two-wheeler to launch in the next 3 months
Source Credit: Autocar India

On an investor call, TVS CEO KN Radhakrishnan revealed that the company had sold 48,000 electric two-wheelers last quarter, up from 29,000 units sold in the quarter prior to that. And on that same call, he also revealed that the company is gearing up to launch a new electric two-wheeler in the next quarter.

Kinetic E-Luna pre-bookings to open on January 26
Source Credit: Autocar India

Kinetic Green has announced that pre-bookings for its upcoming E-Luna will begin from tomorrow for a token amount of Rs 500 only. Ahead of its launch, we have already uncovered a patent image of the little electric moped.

Kia Clavis SUV first spy shots show interesting details
Source Credit: Autocar India

Kia’s upcoming compact SUV, the Clavis, has been spotted in Korea for the first time. The SUV will be positioned between the Sonet and the Seltos, and spy shots confirm that the Clavis will have a compact SUV footprint with unique upright looks.

Kinetic E-Luna revealed ahead of launch
Source Credit: Autocar India

Just after pre-bookings commenced for the E-Luna, it has now been listed on a few e-commerce websites, with prices ranging between Rs 71,990-74,990 (ex-showroom). 

Indian luxury car sales hit record high in 2023
Source Credit: Autocar India

In 2024, the Indian luxury car market is set to cross the 50,000-unit sales mark for the first time, with key players gunning for a strong double-digit growth. In the calendar year 2023, at over 20 percent, the luxury car market grew at more than double the pace of the mainstream car market, with volumes estimated to have hit a new peak of around 47,000 units.

One in four Hyundais sold is a Creta: Hyundai India COO
Source Credit: Autocar India

Hyundai brought out the Creta facelift with introductory prices ranging between Rs 11.00 lakh-20 lakh, ex-showroom. At the timne of launch, the updated Creta had received 25,000 bookings: 55 percent for petrol and 45 percent for diesel, and the company had said that automatic gearbox variants comprise 40 percent of the orders received.

Hyundai, Kia develop Active Air Skirt to reduce drag in EVs
Source Credit: Autocar India

Hyundai and Kia have unveiled their ‘Active Air Skirt’ (AAS) technology, which minimises the aerodynamic resistance generated during high-speed driving, which in turn help improve the range and stability of electric vehicles (EVs). AAS controls the flow of air entering through the lower part of the bumper and controls the turbulence generated around the vehicle's wheels at speed.

Hero Karizma CE showcased at Hero World 2024
Source Credit: Autocar India

Hero revealed a special edition of the Karizma XMR at the Hero World event, where it also launched the Xtreme 125R and showcased the Mavrick 440. This special edition of the Karizma XMR pays homage to Hero Motocorp's founder, Dr Brijmohan Lall Munjal and celebrates his 100th birth anniversary. Limited to just 100 units, it will go on sale this July.

125cc bikes could outsell 100-110cc bikes in next 3 years: Rakesh Sharma of Bajaj
Source Credit: Autocar India

Bajaj Auto’s Executive Director Rakesh Sharma foresees slower growth in the 100-110cc motorcycles as Indian consumers seek features and performance. He believes that the 125cc and above segment will likely outpace the entry-level motorcycle segment in the next three years. A comparable trend was observed in the passenger vehicle segment where utility vehicles now account for half of the sales. 

Maruti Suzuki's greatest hits and misses over 40 years
Source Credit: Autocar India

Maruti 800 | 1983-2014

Tesla erases USD 80 bn in valuation after Musk's sales warning
Tesla tumbled over 12% on Thursday after CEO Elon Musk warned sales growth would slow this year despite price cuts that have already hurt margins at the world's most valuable automaker and fueled investor concerns about soft demand and Chinese competition.

Tesla share price plunges 12%, erasing $80 billion in valuation after Elon Musk warns sales slowdown despite price cuts
Tesla plummeted over 12 per cent on January 25 after CEO Elon Musk hinted slowdown in sales this year despite price cuts that have already hurt margins at the world's most valuable automaker and fueled investor concerns about soft demand and Chinese competition, according to a Reuters report.

Hybrid cars shift gears as all-electric sales slow
Now, a slowdown in the growth of electric-car sales has led General Motors, Ford Motor and Volkswagen to walk back ambitious targets for those vehicles. And sales of hybrids are robust.

Norway's traffic regulator says it won't recall Tesla cars
Norway's traffic safety regulator said on Thursday it had found no basis for ordering a recall of Tesla's S and X Model vehicles following an investigation into a suspension safety issue.

Skoda delivers 866,800 units globally, Middle East sales up 108%
New Delhi: In 2023, Skoda Auto achieved a notable increase in its vehicle deliveries, reaching a total of 866,800 units. This represents significant growth of 18.5% over the previous year. By entering the Vietnamese and Kazakhstan markets in H2 2023, Skoda is systematically advancing its internationalisation. The brand is also focusing on the Middle East, recognising the remarkable opportunities for growth in this region. The newly opened fully digitalised showroom in Kuwait is among the first in the world to adopt Skoda’s new CI. This establishment marks Skoda’s initial ventures in the Middle Eastern region, the company said in a media release.

Zero-emission goal still eludes the EU, where most cars emit the same CO2 levels as 12 years ago
Most passenger cars in the European Union still emit the same quantity of carbon dioxide as 12 years ago, the European Union's auditing agency warned on Wednesday.

Moody’s Downgrades 17 Chinese Govt Financing Vehicles to ‘Negative’
Moody's downgraded the ratings of 17 Chinese local government financing vehicles (LGFV) by one notch on Thursday and immediately put them back on another downgrade warning by setting the rating outlooks to "negative". China's local governments, which between them are estimated to have over 9 USD trillion worth of debt, have seen their finances hit in recent years as the country's property market crash has slashed the amount of money they make from selling land.

Italy's premier slams Stellantis over reduced Italian footprint since Peugeot-FiatChrysler tie-up
Italian Premier Giorgia Meloni slammed carmaker Stellantis, accusing it of weakening Italy's industrial footprint since the merger of FiatChrysler and PSA Peugeot that created the world's fourth largest auto maker.

GM Cruise robotaxi unit faces US probes over dragging incident, vows reforms
GM's Cruise self-driving car unit on Thursday revealed U.S. Justice Department and Securities and Exchange Commission probes stemming from an October accident in which one of its robotaxis dragged a pedestrian who had been struck by another car.

STMicro sees Q1 sales well below estimates as auto chip demand softens
European chipmaker STMicroelectronics on Thursday forecast a more than 15% drop in first-quarter revenue, well below market expectations, due to softer automotive demand and a further decline in orders from the industrial sector.

Europe will miss 2030 chip market goal, says ASML CEO
Europe will miss its goal of raising its share of the global computer chip market to 20% by 2030 because it is not building manufacturing capacity fast enough, semiconductor equipment maker ASML CEO Peter Wennink said.

Musk wants bigger stake in Tesla to avoid being ousted
Elon Musk keeps harping on the size of his stake in Tesla Inc.

Tesla to recall 200,000 vehicles in US to fix rearview glitch: NHTSA
Tesla recalling nearly 200,000 vehicles due to software glitch
mint
https://www.livemint.com/auto-news/tesla-recalling-nearly-200-000-vehicles-due-to-software-glitch-11706270754212.html

Vietnam should seize a rare opportunity to take on China
Vietnam’s hopes of becoming a production hub to rival China are showing momentum. A big boost will come as the nation leans into its untapped reserves of rare earths, even as it struggles to find traction in new sectors such as electric vehicles.