Q3 GDP growth a positive indicator for Auto Inc, sales forecast upbeat
The Ministry of Statistics and Programme Implementation, Government of India, announced that the country’s GDP for Q3 FY2024 came at 8.4 percent, the highest in the last six quarters.

Domestic value addition to get a boost with chip projects approval: Industry
The government’s nod to three semiconductor projects worth Rs 1.26 trillion in the country is expected to contribute significantly towards increasing the domestic value addition in the electronics, telecom, automotive, among other segments, as well as building supply chain resilience, several industry executives told FE.

Tata Motors domestic sales up 9% to 84,834 units in Feb’24
Tata Motors sales in the domestic and international markets for February 2024 stood at 86,406 units compared to 79,705 units during February 2023. Total domestic sales for the company in February 2023, including passenger vehicles (PV) and commercial vehicles (CV), stood at 84,834 units which led to a YoY growth of 9%.

SUVs power best ever car sales for February; two-wheeler sales rise
Sales in February last year were 335,324 units. This was the third-highest sales in any month after January this year with 394,571 units and October last year, during the festival period, with 391,811 units.  

India to soon become exporter of semi-conductors: Vaishnaw
New Delhi: Over the next few years, India will not only meet its demand for semiconductors but will also start exporting them, Union Minister of Railways, Communications, Electronics & Information Technology, Ashwini Vaishnaw, said.

Retail demand to be key as automakers continue record vehicle production in Feb
New Delhi : The era of inordinately long waiting periods for passenger vehicles may be ending as carmakers continued to ship a record number in February, building up stock in the dealership network. 

Auto sales sustain growth in February
Indian automakers continued to report a steady rise in sales in February, helped by demand for two-wheelers and utility vehicles, monthly sales data from companies showed.

EVs can go a long way to help India reach net zero target
Experts have said that electric vehicles (EVs) can go a long way to help India reach net zero target and help in the development of new business.

‘Buoyant Bharat’ boosts PV, 2-wheeler sales in February
Chennai: February 2024 witnessed passenger vehicles and two-wheelers stay in the positive growth lane, while commercial vehicles and tractors reported a decline in volumes.

All you need to know about CG Power's ₹7,600 crore chip facility approved by govt
CG Power said it has partnered with Japan's Renesas Electronics and Thailand's Stars Microelectronics for a ₹7,600 crore (or $222 million) semiconductor facility in Sanand, Gujarat, as part of India's chip push.

CG Power, Renesas, Stars Microelectronics enter JV to make chips in India, plan Rs 7,600 crore investment
CG Power and Industrial Solutions, part of Tube Investments of India and the Murugappa Group; Renesas Electronics, a leading supplier of advanced semiconductor solutions and Stars Microelectronics (Thailand) an Outsourced Semiconductor Assembly and Test (OSAT) provider have recently signed a agreement to establish a Joint Venture (JV) to build and operate an OSAT facility in India.

GST mop-up rises over 12.5% to Rs 1.68 trn, car sales remain strong
Car sales in the wholesale market last month stood at 373,177 units, up 11 per cent Y-o-Y and were the highest for the second month of any calendar year and the third highest ever.    

India set to become global semiconductor manufacturing destination: Industry
According to S P Kochhar, Director General, COAI (Cellular Operators Association of India), the approval for these units which has come under India's Semiconductor Mission is a positive and commendable development.

Mahindra wholesales rise 24 pc in Feb at 72,923 units
Mahindra & Mahindra wholesales increase 24% to 72,923 units in February

M&M hits new high on strong Feb auto sales; soars 20% in 1 month

However, total tractor sales declined 16 per cent to 21,672 units in last month, against 25,791 units sold in February 2023. In the export market, the company sold 1551 tractors, a growth of 32 per cent over last year.

Cars24 sees 40% topline growth in FY24, plans to go public in 2 yrs

Bengaluru: Gurugram based unicorn Cars24, a platform specialising in the buying and selling of used cars, is on track to post a 30-40% growth in topline for FY24. This growth signifies a substantial leap from the 7.8% revenue growth reported in the preceding fiscal year. In FY23, the company recorded sales of Rs. 5,535 crore and successfully reduced losses by 57% to Rs.468 crore.

Behind smashing cars for safety
Imagine hurtling down a highway in a car, the wind whipping through your hair, and a sense of freedom washing over you. But this seemingly idyllic picture can turn tragic in the blink of an eye in case of an accident because you are hurtling down that highway, essentially, in a metal box.
 

`We will launch two cars this year; one will be an EV': Rajeev Chaba, CEO Emeritus, MG Motor India
We will get there,' says Rajeev Chaba, CEO Emeritus, MG Motor India, previously,our growth was constrained by lack of capital  but now with the JSW-SAIC joint venture — SIAC is the parent company MG — we expect to go top speed,' he tells FE's Vikram Chaudhary. 

Car Review: New Jeep Grand Cherokee: It's a Jeep thing, tough to understand
The 'Grand Cherokee' is possibly the grandest name in the world of SUVs. It was born as the Cherokee SI (1970-79),then came the Cherokee XI (1980-89) that introduced many industry firsts (the first compact four-door SUV, first Uni Frame construction, and first full-time 4x4 system with shift-on-the-fly capability), and finally the Grand Cherokee (1990 onwards). The new Grand Cherokee was recently launched and we drove it around Delhi. 
 

CEO's Take On 2024: India to emerge as leading domestic consumer and global supplier of EV parts, says Harsha Kadam
Edited excerpts:

Fiat announces global revival
Over the last few years, while Fiat hasn’t fallen from grace, its market presence has dropped considerably. From being a popular choice for everyday cars, Fiat has had issues such as less demand for hatchbacks, an increasing push for electrification and, most importantly, an ageing product line-up. 

Toyota India registers 61% growth in February 2024 sales
Toyota Kirloskar Motor (TKM) today reported its highest wholesale of 25,220 units in February 2024, reflecting sustained growth and product acceptance by customers from across the country. This also represents a sustained growth of 61% over the same period last year, where the company sold 15,685 units in February 2023. While domestic sales stood at 23,300 units, the company’s exports stood at 1,920 units in the month.

Landmark Cars wins MG Motors dealership in Ujjain; stock rallies 9%
New Delhi: Shares of Landmark Cars sprinted 9.3 per cent to Rs 785.75 apiece on the BSE in Friday's intraday trade after the company announced that it has received a Letter of Intent from MG Motor India Pvt Ltd for opening a dealership in Ujjain, Madhya Pradesh. 

Maruti Suzuki sells 160,271 units in Feb— Baleno, Swift, Dzire drive in sales
Maruti Suzuki is the leading car manufacturer in India with over 40% market share in the passenger vehicle segment. In February 2024, Maruti Suzuki India Limited sold a total of 197,471 units which is inclusive of domestic sales and exports, both in the PV and light commercial vehicle (LCV) segments.

Mahindra SUV domestic sales up 40% to 42,401 units in February
Mahindra, one of India’s leading automotive companies, today announced that its overall auto sales for the month of February 2024 stood at 72,923 vehicles, a growth of 24%, including exports.

Hyundai Motor India domestic sales up 7% to 50,201 units in Feb 2024
Hyundai India registered total sales of 60,501 units in February 2024. The carmaker achieved domestic sales of 50,201 units, achieving a 6.8% growth. Hyundai also achieved export sales of 10,300 units in February 2024.

Skoda could bring back Superb diesel in India
FY 2021 saw a sea of changes in Skoda Auto Volkswagen’s plans for the Indian market. In March of 2021, the company announced that it is discontinuing diesel engines in India and will solely focus on turbo petrol (TSI) powertrains and localisation of the MQB A0 IN platform.

Maruti's total sales rise 15% to 1,97,471 units in Feb
Maruti Suzuki's total sales rise 15% to 197,471 units in February
Business Standard

Ferrari Purosangue priced at Rs 10.5 crore in India
Ferrari forayed into the SUV space when it unveiled the Purosangue last year. More than an SUV or crossover, the Purosangue could be best described as a supercar on heels. The Italian brand has now announced prices for the Purosangue in India. 

Luxury cars in India Saw a 30% increase in the last 5 years
The Hindu (Delhi Print Edition) (Mumbai Print Edition)

BMW X5: Best of both worlds
Back in the ‘90s, a partnership that was supposed to bring Rover back to its glory lasted only six years; BMW, having learned that it just couldn’t continue to sustain losses, decided to let go of the British carmaker. What stayed, especially for BMW (apart from the resurrected MINI) was something that would help the German carmaker go places it hadn’t been to yet. The all-new BMW X5 was developed during that time, incorporating Land-Rover know-how to create a BMW SUV that was adept at offering great driving fun without losing out on practicality. It was exactly 25 years ago that the first-generation X5 was born, and as many would agree, life hasn’t been the same since. With its launch, BMW showed everyone that SUVs could handle well; this is a hill that the German carmaker will be more than happy to die on, even now. Things are very different now, because the luxury SUV market is more populated than it’s ever been, and nearly every carmaker has got it right. So, how does the ‘OG’ fare?

E-bus service launched from Jammu to Suchetgarh to boost border tourism
The 'Wagah-Attari-style' ceremony, comprising a structured parade by BSF men, was launched in October 2021 as part of the government's border tourism promotion programme.

SML Isuzu total sales up 6% to 1,010 units in February 2024
New Delhi: SML Isuzu reported an increase in total sales of 6% in February 2024 with 1010 units versus 953 units in the same month last year. Total sales comprise passenger vehicles (PV) and cargo vehicles.

VECV domestic sales increase 2% to 6,930 units in February 2024
New Delhi: Eicher Motors Ltd. and its arm VE Commercial Vehicles Ltd. on Friday posted a 2% growth in total sales at 7,424 units for February 2024 compared to 7,289 units sold in February 2023.

Ashok Leyland domestic sales dip 6% to 16,451 units in February 2024
New Delhi: Ashok Leyland announced its February sales with total domestic sales at 16,451 units, recording a 6% decline compared to 17,568 units in February 2023.

L&T commissions India's first indigenously built green hydrogen electrolyser in Gujarat
New Delhi: Larsen & Toubro (L&T) has commissioned its first indigenously manufactured electrolyser at the Green Hydrogen Plant located at the A M Naik Heavy Engineering Complex in Hazira, Gujarat. This step marks L&T Electrolysers Limited's entrance into the domestic manufacturing of electrolysers, aligning with the company's focus on enhancing sustainable energy solutions.

Escorts Kubota domestic tractor sales down 17% to 6,041 units in February
Escorts Kubota, one of the leading agriculture machinery manufacturers in India, has announced its sales performance for February 2024.

TVS Motor domestic 2W sales up 21% to 2,67,502 units in February 2024
TVS Motor Company recorded monthly sales of 3,68,424 units in February 2024 with a growth of 33 percent as against 2,76,150 units in February 2023.

Kawasaki Z900 vs Triumph Street Triple — Spec check
The middle-weight motorcycle segment has grown over the years, in terms of popularity and displacement. Two of the most popular middle-weight motorcycles in India are the Kawasaki Z900 and the Triumph Street Triple 765. Both have their unique fan following and for 2024, Kawasaki has updated the Z900.

Royal Enfield sells 67,922 bikes in Feb— Classic, Meteor, Hunter, Bullet, Himalayan
Royal Enfield registered sales of 75,935 motorcycles in the month of February 2024 which led to a 6% YoY growth. During the same period previous year, the company sold a total of 71,544 units inclusive of domestic as well as exports. In the domestic market, Enfield sold a total of 67,922 units in February this year.

New accessories make Ducati Scrambler more customizable
New Delhi: Ever since it was first presented in 2015, Ducati Scrambler has interpreted the most authentic expression of motorcycling, characterized by a free, positive and non-conformist spirit, and open to a meeting of styles and infinite customizations. A bike that has attracted over 100,000 new enthusiasts all over the world, with a timeless design and technical features that make it a modern motorbike in its own right.

6 most powerful bikes priced under Rs 2 lakh
Indian riders have always seeked performance at a budget. In recent years, there have been plenty of options to consider by two-wheeler manufacturers, especially under the Rs 2 lakh (ex-showroom) budget. Let us look at the six most powerful motorcycles available under the above-mentioned price.

Royal Enfield Hunter 450 and Scram 650's spy shots leaked! What to expect
In a recent development, Royal Enfield enthusiasts have been buzzing with excitement as spy shots of two upcoming models, the Hunter 450 and Scram 650, surfaced on Indian roads, reported HT Auto.

HMSI domestic sales up 82% YoY to 4,13,967 units in February
Honda Motorcycle & Scooter India (HMSI) Friday said its dispatches for the month of February 2024 stood at 4,58,711 units, registering a 86% YoY growth.

Hero MotoCorp sales in February 2024 up 19% to 468,410 units
Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, sold 468,410units in February 2024, a 19% growth over the 394,460 units sold in February 2023.

Bajaj Auto domestic sales up 35% to 2,06,894 units in February
Bajaj recorded domestic sales of 1,70,527 two-wheelers in February 2024, registering a YoY growth of 42 percent, as compared to selling 1,20,335 units during the same period last year. During the same time, the two-wheeler maker’s exports have also witnessed an 8 percent growth, registering 1,24,157 units.

Suzuki Motorcycle India’s domestic sales rise 59% to 83,304 units in February
Backed by robust demand, Suzuki Motorcycle India sold a total of 97,435 units in February 2024, marking an increase of 38 percent compared to 70,621 units sold in February 2023.

Hero Mavrick 440: Unconventional?
The Mavrick might not be a contender for a Spelling Bee, but it’s an appreciable effort that doesn’t just give Hero a new flagship but also enables the Indian bike-maker to sit alongside a bunch of newly launched 400cc motorcycles. Being the most affordable among that lot helps, but there’s more than just value that the Mavrick 440 offers.

Tork Kratos R prices slashed to Rs 1.49 lakh
Tork Motors has announced a special pricing for its Kratos R electric motorcycle, effective today. The Kratos R will now be available at a special price of Rs 1,49,999, ex-showroom across the country. This price will be valid till March 31st 2024.

IPO-bound Ola Electric clocks highest registration of 35,000 units in Feb
The SoftBank-backed company reported its highest-ever monthly registrations during the month and posted a year-on-year (Y-o-Y) growth of nearly 100 per cent compared to the same month last year. 

E2W market surges 24% in February 2024
New Delhi: February 2024 witnessed a surge in registrations of electric two-wheelers, marking a substantial 24% year-on-year growth in high-speed scooters. This data, sourced from Vahan, reveals a snapshot of the E2W market, with significant players showcasing their prowess in the evolving E2W sector.

Hero Vida V1 Plus relaunched with lower price tag at Rs 1.15 lakh
Hero MotoCorp has reintroduced the Vida V1 Plus with a lower price tag. The electric scooter is now available at Rs 1.15 lakh (ex-showroom). This makes it Rs 30,000 more affordable than the top-spec V1 Pro. However, effective prices can drop to below Rs 1 lakh on applying FAME II subsidy, state EV subsidy, and dealer discount.

Electric two wheeler volume remains flat despite sharp price cuts
Surajeet Das Gupta, Business Standard

New Delhi: Despite sharp discounts across models to raise volumes in the past two months, electric two wheeler sales month-on-month are stagnating. Registrations to the end of February touched 79,139, marginally lower than 79,214 in January, based on VAHAN data. Only seven companies achieved over 1,000 registrations in February. This is disappointing for a market filled with 178 players who were hoping to leverage the FAME subsidy, but whose future extension is uncertain. The top four electric two-wheeler manufacturers Ola, TVS, Bajaj and Ather account for over 86.45 per cent of the market.
 

Servotech gets order for 1400 DC fast EV chargers worth INR 111 cr from IOCL, others
New Delhi: Servotech Power Systems Ltd., a leading manufacturer of EV chargers in India, has bagged an order of 1400 DC fast EV chargers from Indian Oil Corporation Limited (IOCL) and other EV charger OEMs. The total order is valued at 111 crores and involves two charger variants of 60 kW and 120 kW.

Visteon to set up new USD 20 mn plant in India
Global Tier 1 automotive company Visteon is planning its next round of investments for the Indian market. The company is planning to invest around USD 20 million to localise backlight manufacturing in India.

Govt hikes windfall tax on petroleum crude
The government hiked its windfall tax on petroleum crude to INR 4,600 a metric ton from INR 3,300 with effect from March 1, according to a government order released on Thursday.

India's Russian oil imports rise in February
India's daily crude oil imports from its top supplier Russia are expected to rise in February from the previous month, helped by resumption of the light sweet Sokol grade, preliminary ship tracking data showed.

Planning to purchase a car this Holi? Here are the best loan rates
Union Bank of India stands out in this regard, offering an appealing interest rate ranging from 8.70 per cent to 10.45 per cent, accompanied by a reasonable processing fee of Rs 1,000. The processing fee on loan is a one-time charge that lenders impose to cover the costs associated with processing and approving the loan application. 
 

Hyundai Alcazar long term review; 42,000km report
Source Credit: Autocar India

When it first came to us in the middle of 2022, little did we know just how much we’d all like this diesel-manual, three-row Hyundai. At first, folks weren’t exactly rushing for the keys. A three-row SUV and a manual to boot isn’t exactly city friendly. But I grabbed the keys, given that for my home to office run – a little over 70km both ways – a diesel-manual is the most frugal combination, and the Hyundai unit is particularly so. And, indeed, it’s been a fuel sipper. Over the many months, the least efficiency we recorded was an impressive 12.8kpl, the best being 19.4kpl; we carefully measured consumption using the tankful to tankful method. Also helping in the daily driver chores are the light gear lever and clutch, which takes the sting out of traffic to some extent.

New diesel SUVs launching in the coming months
Source Credit: Autocar India

Sales of diesel cars and SUVs may be slowing down in certain segments in India, but some carmakers are going to continue to offer the option. In fact, diesel SUVs have managed to more than maintain a toe-hold, despite many manufacturers halting their respective oil-burner offerings – the Hyundai Creta diesel still accounts for 45 percent of total sales of the midsize SUV and Kia reports that 42 percent of those who booked the Seltos facelift opted for the diesel model. As such, Hyundai, Mahindra, Tata and MG Motor India are still among those who offer diesel options and these carmakers are bringing them to the market in the coming months.

Rs 209 crore Rolls-Royce Arcadia Drop Tail revealed
Source Credit: Autocar India

Rolls-Royce has revealed the third example of its approximately Rs 209 crore coachbuilt roadster, the Droptail. Called the Arcadia Droptail, it was revealed at a at a private ceremony in Singapore and follows the Amethyst and La Rose Noire cars shown last year as part of a production run of four.

Bugatti Chiron successor to get V16 hybrid engine
Source Credit: Autocar India

Bugatti has announced that its new hypercar will be revealed in June this year. The bigger talking point, however, is that Bugatti will do away with the W16 engine used by the Chiron and its Veyron predecessor, and move to an all-new V16 hybrid engine. It will be the first production car in decades to use such an engine, the last being the ultra-rare Cizeta-Moroder V16T in 1991, and it will be the first hybrid powertrain from the French manufacturer. 

Hyundai Creta N Line to get two variants
Source Credit: Autocar India

Before Hyundai Creta N Line prices are revealed on March 11, we now have details on the sporty midsize SUV’s variants, and exterior colour options. Hyundai will offer the Creta N Line in two higher-epc variants, N8 and N10.

Lordstown Motors settles SEC charges over misleading investors
The U.S. Securities and Exchange Commission on Thursday said it has settled charges against Lordstown Motors Corp that the electric vehicle manufacturer of misled investors about the sales prospects of its flagship truck, the Endurance.

Tesla rolls out new incentives in China as price war escalates
Tesla unveiled new incentives, including insurance subsidies, on Friday to woo consumers in the world's largest auto market, where the U.S. electric vehicle giant is in a protracted price war against entrenched rivals such as BYD.

Ford electric vehicle owners can now charge on Tesla's network, but they'll need an adapter first
Owners of Ford electric vehicles can now use much of Tesla's charging network in the U.S. and Canada, but there's a hitch.

New Maserati GranCabrio breaks cover
Maserati has unveiled the GranCabrio, its latest creation dedicated to driving enthusiasts who demand the greatest levels of comfort and style. GranCabrio is a brand-new and equally elegant open-top version of its coupe twin, the award-winning GranTurismo.

China's Li Auto pins hopes on first all-electric model
Li Auto officially launched on Friday its first pure electric model MEGA multi-purpose vehicle (MPV), which founder and CEO Li Xiang expects to become the Chinese electric vehicle startup's top seller among cars priced above half a million yuan.

Apple's purported electric car, Project Titan, hits a roadblock: Report
In a surprising turn of events, Apple's much-anticipated Project Titan, a secretive venture into the realm of electric vehicles, has reportedly been halted. While the tech giant has neither confirmed nor denied the project's suspension, media reports suggest that Apple has invested over $10 billion in the endeavor.

GM's Cruise valuation slashed by more than half, adding to woes
General Motors' Cruise saw its internal share price cut by more than half from a quarter ago as the fallout from an October accident continues to weigh on the self-driving car company.

Valeo lowers sales targets for 2025 as EV growth stalls
French car parts maker Valeo on Thursday cut its net sales guidance for 2025, citing lower-than-expected growth in the automotive market and particularly for electric vehicles.

EV startup Fisker raises going concern doubts, shares plunge
EV startup Fisker warned on Thursday it might not be able to continue as a going concern and its shares tumbled 35% after the stock market closed.

Tesla must face class action claims by 6,000 US workers in race bias case
A California state judge tentatively ruled that nearly 6,000 Black factory workers can sue Tesla as a group for the electric vehicle maker's alleged failure to address rampant race discrimination and harassment at its Fremont plant.

Apple's shift from EVs to AI draws diverse reactions among influencers
A rise in discussions related to "Apple" among influencers on the "X" platform has been witnessed in the last week of February after reports emerged about Apple's decision to discontinue its electric vehicle (EV) project, a new report revealed on Thursday.

Chipmaker Nvidia surges past Saudi Aramco, becomes world's third-largest company
In a significant shift within the global market landscape, tech giant Nvidia has surpassed Saudi Aramco to claim the third-place spot among the world's largest companies by market capitalisation, according to The Spectator Index.