Top Indian Automobile Industry News & Updates - 18 March 2024,Monday
🏢 Industry
Should Tata, Mahindra, and other Indian automakers worry about Tesla & co.
The recent announcement of import duty concessions in the Electric Vehicle (EV) policy is set to boost the Indian electric vehicles market without negatively impacting local players, according to a senior government official.
Auto Inc gives thumbs up to E-Vehicle Policy, move to benefit acceleration of green vehicle adoption
The government of India announced the e-vehicle policy, which aims to promote the country as a leading manufacturing destination for EVs and attract investments from global EV makers.
Electoral Bonds: Auto Inc contributed Rs 144 crore ahead of LS Polls
On February 15, 2024, the Supreme Court of India passed a landmark judgment striking down the Electoral Bonds Scheme 2017. Chief Justice of India, DY Chandrachud while announcing the verdict of the unanimous decision of a five-judge constitutional bench said that the anonymous electoral bonds violated the Right to Information under Article 19(a) of the Constitution.
Auto companies target smaller towns as rural sales growth beats urban
On a high base of 4.2 million PVs sold in 2023-24 (FY24), the industry projects moderate 3-5 per cent overall growth in the sales for FY25.
RRP Electronics to set up first semiconductor plant in Maharashtra
Mumbai: RRP Electronics has tied up with a consortium of European companies to set up a one-of-its-kind semiconductor facility in Maharashtra. The company, which will invest ₹5,000 crore over the next five years, plans to lay the foundation stone in its new premises of 25,000 sq ft on March 23. In the second phase, it will invest another ₹5,000 crore.
Tesla: Red carpet welcome in India?
India has announced a policy for electric vehicles (EVs) that lowers the import duty for foreign-made EVs brought in by overseas auto majors. They’ll be allowed to import annually up to 8,000 EVs valued at $35,000 or more at a reduced import duty of 15% for five years, provided they invest at least $500 million in local manufacturing over the next three years.
Amid booming EV sales in India, a nagging issue: Who will service your car?
EVs have an advantage over vehicles that use the internal combustion engine (ICE). While the engine of a conventional car has over 200 moving parts, including pistons, crankshafts and valves, an electric car has just 20 of them. So repairs and maintenance cost are less than those for ICE cars. The average maintenance cost of an electric car that has clocked 50,000 km would be around INR 44,000, while it would be about INR 56,000 for a petrol car and INR 78,000 for a diesel car.
How BNCAP can be a game changer in revolutionising vehicle safety in India
Hero MotoCorp bought electoral bonds worth Rs 20 crore shortly after IT raid, EC data reveals
Duty cut benefit in EV policy not to impact domestic players; to expand mkt
"We are not trying to, you know, tailor a package for anybody. This is open to everybody. The idea is to kickstart the four- wheeler e-car manufacturing in India, with very stringent kind of value-addition norms, while also ensuring that we allow imports in a very limited quantity. we will be allowing only 8,000 for a company in a year and a maximum cap of 40,000. It's not zero (duty," he told reporters here.
Germany’s Hengst Filtration zeroes in on India after scouting 23 locations
With India’s automotive industry growing, more international companies are setting up shop here, owing to the huge potential India has to offer. This applies to automotive and component manufacturers, and the latest to set up a manufacturing facility in Bengaluru is German major Hengst Filtration.
📝 Hyderabad based TRiDE Mobility Pioneering Road Safety with AI-driven Solutions
📝 Top auto companies seek to introduce one electric car a month in next two years
📝 Tata Curvv to Mahindra XUV.e9: India is ready for an EV offensive
📝 Count existing investments as incentives, say German car companies
📝 Karnataka's EV tax could derail India's green mobility goals
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🎤 Interviews & Features
Car Review: Hyundai Creta N Line : N for Nirvana
The exhaust pipe of the Creta N line doesn't growl like that of the Venue N Line, but press that accelerator and it will show its back to most cars in India. We just drove it on highways around Delhi.
Why hotels organise vintage car rallies
Last Week, ITC Hotel sand the Heritage Motoring Club of India brought back the romance of vintage cars in Delhi NCR, when dozens of classics —1927 Marmon, 1928 Rolls-Royce Phantom 1, 1929 Rolls-Royce 20 Mulliner, Tourer, and 1930 Stude -baker—were driven by their owners from ITC Maurya in NewDelhi to ITC Grand Bharat in Gurgaon.
‘Mentorship is about inspiring’: Vikram Chopra, CEO, Cars24
Electric mobility: Adding the e-factor to India’s tourism sector
‘Atithi Devo Bhava’ (‘The Guest is Equivalent to God’), is one of the slogans of India’s tourism sector. The slogan doesn’t just affirm our cultural reverence for tourists; it also signifies a commitment to serve and engage them in innovative ways. Micromobility-based urban tourism is one such smart idea that can change the way travellers see and experience our cities.
📝 Helping Indian electric mobility dreams come true
📝 Keeping it short
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🚗 Cars / SUVs
Citroen to have 200 touchpoints by 2024 end
Citroen is embarking on an ambitious journey with its network expansion program aiming to establish 200 sales and service touchpoints by the end of 2024.
📝 Renault Duster's base variant may ditch touchscreen. Here's reason to think so
📝 From Compass to Grand Cherokee, Jeep offers benefits of up to ₹2.80 lakh
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Electric-Cars / SUVs
📝 Hyundai Creta EV spotted in wild, likely to get 360-degree camera and ADAS
📝 BYD Seal EV launched in India: Key facts to know
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🚗 Luxury Cars
India bound Volvo EX30 has lowest carbon footprint– launch in 2025
It is no big secret that Volvo is looking to completely electrify its lineup by the end of this decade. The Swedish brand is one car manufacturer which is still steadfast in its commitment of achieving net carbon neutrality by 2040.
Karthik Aaryan brings home ultra luxurious Range Rover SV
Bollywood actor Kartik Aaryan has added the swanky Range Rover SV to his already illustrious car collection. The Bhool Bhulaiyaa 2 star couldn’t suppress his excitement, hence, he posted a photo of him and his pet dog, Katori, in the boot of the luxurious SUV. The SV portfolio from Range Rover is the most expensive trim and starts from Rs 4 crore without any personalization options.
📝 Zomato CEO Deepinder Goyal buys India’s first Aston Martin DB12 worth ₹4.59 crore
📝 Lexus LM 350h launched in India at Rs 2 crore: What’s special
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⛟ Commercial Vehicles
Helping Indian electric mobility dreams come true
Many investors have dubbed the next 10 years as ‘India’s decade’. The country’s projected GDP in 2024 is 7%, with rising disposable income of 15%, and a 1.43 billion population according to UN estimates, India may offer enviable long-term opportunities for decades to come.
100 e-buses to run on Bhopal roads in a year
Around 100 electric buses will be introduced on the roads of Bhopal within a year as part of the PM e-Bus Sewa scheme.
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🏗 Construction & Agri Machinery
Tractor sales data: Mismatch between wholesale & retail
Mumbai: Tractor Dispatches from the manufacturing companies to their dealers in the current financial year are showing a decline, whereas retail numbers for the same period show an increase, highlighting the mismatch in the display of the market trend. Domestic wholesale (from com-pany to dealers) tractor volumes from April to February fell by 7% year on year(y-o-y) to 803,266 units, as per data shared by the Tractor and Mechanisation Association (TMA).
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🏍 2/3 Wheelers
Unveiling the advantages: top 6 Benefits of choosing pre-owned bikes over new ones
Looking for the perfect two-wheeler? Have you considered buying second-hand two-wheelers? While new bikes often steal the spotlight, used ones are gaining popularity for good reasons. Here are six benefits of choosing a second-hand two-wheeler over a new one.
Yezdi Roadking, Streetfighter images leaked— upcoming RE Hunter rival?
Classic Legends, is currently on a spree to update and expand its lineup under the Jawa and Yezdi. The Mahindra-owned bikemaker recently launched a new avatar of the Jawa also known as the Jawa Classic or Standard with enhanced proportions and a heavily remapped engine, which gives it the appeal of an all-new motorcycle.
Fill it, shut it, Don't forget it: Hero must up its game in premium space
Five years ago, three out of every five motorcycles sold in India were budget bikes. Priced within Rs.45,000, they more than met drivers' expectations on mileage. With the roads, especially those in rural areas, not always in great shape, it was important the bikes didn't guzzle fuel. How important was something Hero Motorcorp understood well. And with formidable brands like the Splendour, Passion and the HF 100, it had soon cornered more than 70% of the market.
📝 Updated Yezdi Scrambler on the cards? New video hints at an imminent launch
📝 2024 Honda Africa Twin design patent filed. Check what's different
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🚲 Electric 2/3 Wheelers
E2W sales to cross one million units in 24-25
Mumbai: The electric two-wheeler vehicle sales are nearing the one million mark with FY2023-2024 recording 8.51 lakh electric two-wheeler registrations in India.
📝 Ather Rizta to be based on 450 platform, will get largest storage space in scooter industry: CBO, Ather Energy
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🌇 Allied Industries
CATL reports 22% revenue growth in 2023; consolidates position in EV battery market
New Delhi: CATL (Contemporary Amperex Technology Ltd), a key player in new energy technologies, has disclosed its performance for 2023, highlighting its presence in both domestic and international markets. With notable revenue growth, the company's net profit has also increased, solidifying its position in the electric vehicle (EV) battery industry.
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🌢 Fuels, Lubricants & Charging Stations
Petrol costliest in Andhra Pradesh & Kerala; BJP-ruled MP, Bihar close behind
That reduction brought relief to fuel users but rates continue to be above INR 100 a litre mark in some states due to higher Value Added Tax (VAT).
Oil minister praises OMCs for fuel price cut, says further revisions to depend on market condition
New Delhi: The future reduction in petrol and diesel prices will hinge on the discretion of Oil Marketing Companies (OMCs), evaluating market conditions and profitability, said Petroleum Minister Hardeep Singh Puri on the sidelines of the launch of 'Ethanol 100' from an Indian Oil outlet in New Delhi.
Govt hikes windfall tax on petroleum crude to INR 4,900 a tonne from March 16
New Delhi: The central government has announced an increase in the windfall tax on petroleum crude by INR 300 to INR 4,900 per tonne effective from March 16, according to an official notification released on Friday.
Ethanol 100 hits the road at 183 Indian Oil stations in five states
New Delhi: In a strategic advance towards cleaner fuel alternatives, India commenced the sale of Ethanol 100 across 183 Indian Oil outlets in Maharashtra, Karnataka, Uttar Pradesh, New Delhi, and Tamil Nadu.
Kerala-based startup, 'chargeMOD' to deploy 1,200 more EV chargers across India
It said this was excluding the existing 1,500 charging stations in Kerala and 2,000 stations across India.
📝 Electrifying vision: Outer Ring Road in Delhi to get an electric-vehicle charger every 5km
📝 ‘Petrol, diesel prices cut not to impact IOCL’s bottom line’
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📖 Magazines News
10 most affordable SUVs in India in March 2024
Source Credit: Autocar India
The ever-growing market shift towards high-riding vehicles in the past few years has resulted in almost all major manufacturers introducing affordable, entry-level SUVs in India. In 2024, the sub-Rs 10 lakh space is crowded with tons of SUV offerings to choose from, which leaves the buyer spoilt for choice. On that note, here’s a list of the top 10 most affordable SUVs in India.
Electric Mercedes-AMG GT 4-door to have over 1000hp of power
Source Credit: Autocar India
Mercedes-AMG will launch its first performance electric car, the AMG GT 4-door Coupe EV in 2025. The upcoming model will be an electrified twin of the Mercedes-AMG GT S E Performance and is expected to be the most powerful AMG as well. It will also be the first car to be based on the AMG.EA electric car platform, a newly developed born EV architecture by Mercedes’ performance division.
Aston Martin EV delayed to 2026
Source Credit: Autocar India
Aston Martin has postponed the launch of its first electric car from 2025 to 2026, due to low consumer demand. The company was scheduled to launch a high-riding, four-wheel-drive electric GT next year, but chairman Lawrence Stroll has told reporters that “consumer demand is not what we thought it was two years ago”, when the plans were first outlined.
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📰 International News
Joe Biden set to crack down on auto emissions to accelerate EV sales
The Biden administration is preparing to roll out the toughest-ever limits on pollution from the nation's cars and light trucks after making changes likely to mollify some automakers.
Hyundai Motor, Kia's sells 5mn eco-friendly cars globally: Report
South Korea's biggest carmakers Hyundai Motor and Kia have sold more than an accumulated 5 million eco-friendly vehicles in the global market over the past 15 years, company officials said on Sunday.
Nissan and Honda sign MoU on EVs partnership
Nissan Motor and Honda Motor are considering a strategic partnership to collaborate on producing key components for electric vehicles (EVs) and artificial intelligence in automotive software platforms, the companies said today.
This luxury carmaker is bringing humanoid robots to assembly line
Global luxury carmaker Mercedes is bringing humanoid robots to help its workers in assembling car parts and inspection, as the company looks to automate some physically demanding tasks. Mercedes-Benz has partnered with Apptronik, a company that designs general purpose humanoid robots.
Glimpse of Kia K4 unveiled ahead of New York International Auto Show
Finally Kia’s enthusiast’s wait is over as the company has shared the first glimpse of its K4 next generation compact sedan. Although Kia has yet only shared the teaser photographs with the public, a facelift of the automobile is still left which will happen on the announced date i.e. 21 March 2024. Kia K4 will make its global debut at the New York International Auto show followed by the vehicle’s global premiere.
Xpeng to launch cheaper EV brand amid fierce China price competition
Chinese electric-vehicle (EV) maker Xpeng announced plans to launch a cheaper brand, entering a highly competitive segment amid an intense price competition in the EV industry.
Crafting elegance. Unveiling Arcadia: The roll of bespoke luxury
You can see, but you can’t touch it! It was an exclusive ‘Coachbuild’ preview of the latest Roll-Royce Motor Cars model for just a few of us from around the world, before the magnificent piece of art was to be handed over to a multi-billionaire client in the evening.
📝 Buy local chips, China urges EV makers as US clash deepens
📝 Tesla to raise US prices for Model Y vehicles by USD 1,000 on April 1
📝 US NTSB probes driver assistance system use in fatal Ford crash
📝 Hyundai Mobis could inject new life into car grilles
📝 Your connected car may be a hi-tech spying tool for insurers
📝 2025 Nissan GT-R announced for Japan, could be the last edition of the supercar
📝 Isuzu announces I-Care pre-summer camp for D-Max, MU-X customers
📝 US automakers race to build more hybrids as EV sales slow: Report
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