Top Indian Automobile Industry News & Updates - 03 May 2024,Friday
🏢 Industry
Tesla moves Delhi HC alleging infringement of its trademark ‘Tesla’ by Gurugram-based Tesla Power India
US electric vehicle (EV) major Tesla Inc on Thursday moved the Delhi High Court alleging infringement of its trademark ‘Tesla’ by Gurugram-based Tesla Power India.
Made-in-India parts to fuel JSW-MG Motor alliance India drive
The joint venture between MG Motor India Pvt. Ltd and JSW Group is taking its crucial first steps to set itself up as a highly localized, cost-efficient Indian auto manufacturing firm, leveraging the Jindals' entrepreneurial experience of working in India's competitive market.
Harvest season, weddings lift April 2W sales by 31%
Mumbai: Demand for Two Wheelers remained robust in April, with whole-sale volumes jumping 31% year-on-year (y-o-y) to 1.67 million powered by strong demand from Uttar Pradesh, Bihar and Madhya Pradesh, where the wedding season has begun.
Micron to export first batch of India-made semiconductor chips from Gujarat’s Sanand in 2025
Micron India is aiming to release the initial set of chips packaged at its Sanand facility in Gujarat by the beginning of next year. The majority of these semiconductor chips will be designated for export, the company’s India managing director Anand Ramamoorthy has said.
Mahindra & Mahindra share price hits new 52-week high as April sales surge
Mahindra & Mahindra share price: Shares of Mahindra and Mahindra Limited rose over 2 per cent to ₹2,204 today (May 2). With this the stock is at a new 52-week high for the company after it announced that its overall sales jumped 13 per cent at 70,471 vehicles in April. The company's shares have rallied 27 per cent in the last three months.
Expect India to become 2nd largest market for Citroen after France in 5yrs: CEO Thierry Koskas
Expect India to become 2nd largest market for Citroen in 5 years: CEO
This automobile stock has zoomed over 100% in 11 days
In the past 11 trading days, the stock price of the automobile company has more than doubled, zooming 111 per cent from a level of Rs 18.06 hit on April 15, 2024. The stock is trading at its highest level since May 2008. It had hit a record high of Rs 111.28 on April 8, 1992.
📝 Citroen bets on 'Basalt' to boost India play
📝 Waning demand, high base effect pull down car sales
📝 How India can break China's electric motor monopoly, explains CEO, Chara
📝 India big opportunity for growth: Citroen
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🎤 Interviews & Features
2024 Maruti Swift mileage, engine details leaked before launch
Maruti Suzuki has started accepting bookings for the 2024 Swift, which is set to launch on May 9th. Ahead of the official launch, details regarding the car’s engine specifications, fuel economy and features have been leaked. The fourth-generation Swift was unveiled at the Tokyo Mobility Show last year, confirming the replacement of the current 1.2-litre 4-cylinder petrol engine with a new 1.2-litre 3-cylinder motor.
Mahindra XUV 3X0 review: Best Paisa Vasool SUV
Mahindra has established itself as a leading SUV manufacturer in terms of revenue and holds the second position in volume and market share. However, the compact SUV segment has been challenging for the company, with the XUV300 failing to significantly impact sales. In response, the Indian automaker has revamped and rebranded this model as the XUV 3X0.
Will recover margin loss due to new norm through price hikes' , Arnab Banerjee, MD & CEO, CEAT
There was a 10% drop in net profit, what would you attribute the fall to?
📝 Mahindra XUV 3XO vs Tata Nexon: Which one offers better prices, features
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🚗 Cars / SUVs
New Force Gurkha launched at a starting price of INR 16.75 lakh
New Delhi: Force Motors has launched its all-new 5-door and 3-door 2024 Force Gurkha at a starting price of INR 16,75,000. The ex-showroom pan India price of the 3-door variant (4-seater) is INR 16,75,000/- and INR 18,00,000/- for the 5-door (7-seater) variant (exclusive of TCS). Accessories, road tax, registration and insurance charges will be payable extra as applicable.
Kia India announces partnership with Map My India to offer navigation solutions
Kia India announced its partnership with Map My India to offer navigation solutions to its customers nationwide, reported PTI on Thursday.
Hyundai Motor global sales up 3.3% to 345,840 units in April 2024
Hyundai Motor Company Thursday announced global sales were up 3.3% to 345,840 units in April 2024.
Landmark Cards gets LoI from Honda Cards India
Bengaluru: Landmark Cars Ltd has received a letter of intent from Honda Cars India Ltd to acquire existing dealership operations in Jaipur, Alwar, and Bhiwadi. The asset acquisition will be undertaken by Landmark Automobiles Ltd., a wholly owned subsidiary of Landmark that runs existing operations of Honda Cars.
Maruti Suzuki SUVs have surpassed competitors, but dominance is another matter
If someone told you a couple of years ago that Mahindra’s SUV Scorpio would one day outsell Maruti Suzuki’s entry-level hatchback Alto, you may have questioned their sanity. But the unthinkable actually happened in FY24, when 1,41,462 Scorpios (both the N and classic models) were sold, compared to 1,11,955 Altos, revealing a tectonic shift in the Indian automotive market.
📝 Mahindra Auto domestic SUV sales up 18% to 41,008 units in April 2024
📝 Maruti Suzuki reveals recipe for improved export plans in FY25
📝 2024 Maruti Swift launch on May 9th: What to expect from this super popular hatchback
📝 Maruti Suzuki’s pending bookings amount to 1.75 lakh, more demand for CNG cars
📝 Jeep-maker Stellantis to hire engineers in India, offer up to ₹44 lakh salary
📝 Kia introduces navigation powered by MapMyIndia in its cars
📝 Scorpio N, Thar, XUV700 help Mahindra to post 18% SUV sales growth in April
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Electric-Cars / SUVs
📝 Kia EV6 facelift teased ahead of global debut, may get bigger battery pack
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🚗 Luxury Cars
New BMW M4 Competition M xDrive arrives in India for INR 1.53 cr
New Delhi: The new BMW M4 Competition M xDrive was launched in India on Thursday. Available in the country as a Completely Built-Up (CBU) model at an ex-showroom price of INR 1,53,00,000, the car can be booked at the BMW dealership network and through BMW Online Shop.
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⛟ Commercial Vehicles
Isuzu Motors India presents new ‘Lifestyle Pick-up’ Models in India; prices start at INR 21.19 lakh
New Delhi: Isuzu has introduced its enriched personal passenger pick-ups, that are Made-in-India which are Made-for-India. Today’s launch highlights ISUZU’s commitment to set a trend in the lifestyle pick-up segment, it pioneered in India.
📝 ICCT to lead EV taskforce for e-trucks in India
📝 Ashok Leyland sales increase 9% to 13,446 units in April 2024
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🏍 2/3 Wheelers
Hero Motocorp domestic sales grow 33% to 513,296 units in April 2024
Hero MotoCorp, a leading manufacturer of motorcycles and scooters, sold 533,585 units of motorcycles and scooters in April 2024. With 34.7% growth over the corresponding month (April 2023), when it had sold 3.96 lakh units and a sequential growth of 9% over the previous month’s (March 2024) sales of 490,415.
Bajaj Pulsar NS400 launch tomorrow: All we know about the biggest Pulsar yet
Bajaj Auto has officially confirmed the launch of the new 400cc Pulsar for 3 May 2024. Likely to be named Pulsar NS400, the new model will sit on top of the Pulsar lineup which is currently occupied by the recently-updated N250. Ahead of its launch, Bajaj has started teasing the upcoming 400cc Pulsar with short clips on the company’s social media handles.
Two-wheeler makers report double digit growth in April sales
Two-wheelers have performed better compared with passenger vehicles which posted low single digit growth during the month. Market leader Hero MotoCorp reported domestic sales of 5,13,296 units in April 2024, a jump of 33 per cent compared with 3,86,184 units sold during the corresponding month last year.
HMSI domestic sales jump 42% to 481,046 units in April, exports up 67%
The two-wheeler major had dispatched 3,38.289 units to its dealers in the year-ago.
2024 Bajaj Pulsar 125, Pulsar 150 gain new fully-digital instrument console — launch soon
An image posted on Instagram confirms the same. It is the same instrument console which was recently added to the Pulsar lineup— N150, N160, NS160, NS200, 220F, and N250. This instrument panel comes with Bluetooth connectivity via Bajaj Ride Connect app, turn-by-turn navigation, and gear position indicator.
📝 Suzuki sales grow by 31% in April, achieves all-time high monthly domestic sales
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🚲 Electric 2/3 Wheelers
Odysse launches Snap high-speed, E2 low-speed e-scooters — prices start at Rs 70k
Odysse has launched two new electric scooters in the market in the form of Snap and E2. The former is a high-speed electric scooter priced at Rs 79,999 while the latter is a low-speed model priced at Rs 69,999 (both ex-showroom). Both battery-powered scooters were unveiled at the Odysse’s annual dealers conference at Lonavala, Maharashtra.
Electric bike sales decline 50% in April amid subsidy changes
Electric two-wheeler sales saw an about 50% month-on-month drop in overall sales in April as a seasonal slump was exacerbated by a shift in subsidies for the industry.
Ola announces Bharat EV fest offering deals, discounts and offers
Electric scooter maker, Ola has announced Bharat EV fest under which it is offering a host of deals, discounts and offers.
📝 Okaya launches e-bike 'Disruptor' at Rs 1.59 lakh; Running cost to be 25 paisa/km
📝 TVS Motor Company registers 25% growth in April, sells 17,403 units of iQube
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⚙ Components
LTTS wins USD 48 mn deal with European auto parts supplier Forvia
India’s mid-sized IT services player L&T Technology Services (LTTS) has signed an approximately €45 million (around USD 48 million at current exchange rate) contract with European automotive parts manufacturer and supplier Forvia for engineering development activities for its clean mobility division.
📝 Sona Comstar to spend INR 1,200 crore to productionise EV orders
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🌇 Allied Industries
Top 10 useless car accessories that get people laughing
Car customisation is popular in India despite being banned. With the automotive aftermarket flooded with accessories ranging from windscreen tints to major suspension accessories, there is a wide product range to choose from.
Ceat Q4 Results: Net profit dips 23% YoY to Rs 102 crore
CEAT posts 22% dip in net profit in Q4
The Hindu Business Line
📝 India unlikely to impose export curbs on low-grade iron ore, source says
📝 Ramkrishna Forgings Q4 Results: Net profit surges 31% YoY to Rs 87 crore
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🌢 Fuels, Lubricants & Charging Stations
Statiq to set up EV charging stations at wayside facilities of Cube Stop Wayside Amenities
New Delhi: Statiq, a leading electric vehicle (EV) charging network has partnered with Cube Stop Highway Rest Areas, to enhance EV charging infrastructure across highways in the country.
Castrol India Q1 Results Live : profit rise by 6.79% YOY
Castrol India Q1 Results Live : Castrol India declared their Q1 results on 30 Apr, 2024. The topline increased by 2.42% & the profit increased by 6.79% YoY. As compared to the previous quarter the revenue grew by 4.84% and the profit decreased by 10.62%.
Tripura government imposes restriction on sale of petrol, diesel
"In view of the supply constraint of petrol and diesel due to disruption in goods train movement to the state, it has been decided to impose restriction on sale of fuel - petrol and diesel in the state from May 1 until further order", said Additional Secretary of Food and Civil Supplies Department, Nirmal Adhikari.
📝 Share of Russian crude in India's imports rises to nearly 40% in April
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💸 Finance & Insurance
Cholamandalam’s total disbursements may cross ₹1-lakh crore in FY25 as it guides 20% plus growth
Cholamandalam Investment & Finance Company Ltd is poised for a significant milestone in FY25, with total disbursements set to exceed ₹1 lakh crore, driven by a projected 20-25 per cent growth. In FY24, the Murugappa Group NBFC saw a 33 per cent increase in total disbursements, reaching ₹88,725 crore.
📝 Vehicle financier SK Finance files DRHP for Rs 2,200 crore IPO
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📖 Magazines News
BMW M4 Competition facelift launched at Rs 1.53 crore
BMW has launched the M4 facelift in India in its Competition guise, priced at Rs 1.53 crore (ex-showroom, India). This update brings with it subtle styling tweaks on the outside, a new interior, as well as an updated powertrain, albeit with a hike in price of Rs 5 lakh. The BMW M4 Competition comes to India as a full import and bookings can be made online or at BMW dealerships.
New Maruti Swift fuel-efficiency, engine details, features leaked
Source Credit: Autocar India
With bookings for the new Maruti Swift having commenced just yesterday, more information about the fourth-gen hatchback is surfacing before its launch, which is expected about a week from today. While a number of details about the Swift were known, leaked brochure images provide new titbits such as the power and torque figures of the new Z Series engine and the fuel-efficiency figure, along with confirmation on features and safety kit that’ll be available on the top-spec variant.
Mahindra XUV 3XO vs XUV300: new vs old
Source Credit: Autocar India
The recently launched Mahindra XUV 3XO is essentially a facelifted XUV300, and that new name is only the starting point of a raft of changes that includes a new design, new interiors, more features and even new powertrain options. Here, we are taking a close look at how the XUV 3XO has evolved over its predecessor, and all that makes it unique.
Force Gurkha 5-door launched at Rs 18 lakh
Source Credit: Autocar India
The new Force Gurkha has finally launched in India – the new Gurkha 5-door is priced at Rs 18 lakh, while the updated Gurkha 3-door costs Rs 16.75 lakh. Bookings had commenced on April 29, though the brand has now specified that an amount of Rs 25,000 is required. Force Motors says despatches to dealers shall commence this week and test drives and deliveries to customers shall start from mid-May.
Electric car, SUV sales increase 22 percent in April
Source Credit: Autocar India
Taking off from where they left off in FY2024, which was a record fiscal with 90,335 units and a 90 percent year-on-year growth, India Electric Passenger Vehicle Inc has opened FY2025 on a decent note. As per Vahan data (as of May 1, 2024), the electric car segment witnessed retail sales of 6,577 units in April 2024, which makes for a 22 percent YoY increase (April 2023: 5,412 units).
Electric scooter, bike sales nosedive in April 2024
Source Credit: Autocar India
Retail sales of electric two-wheelers have seen a sharp decline to just over 64,000 units, down 4 percent on March’s mega tally of 137,146 units albeit this does not warrant a month-on-month comparison. That’s because March 2024 was the last month for the FAME 2 subsidy scheme, which accelerated demand into the best-ever monthly sales.
Updated Isuzu D Max V Cross Z Prestige launched at Rs 26.92 lakh
Source Credit: Autocar India
Isuzu has updated the D-Max range in India with new safety features. The Japanese brand has also introduced an updated version of the top-spec V-Cross Z Prestige variant with a few exterior and interior changes. Prices for the updated D-Max lineup for private buyers starts at Rs 21.20 lakh for the Hi-Lander; the V-Cross Z trim is priced from Rs 25.52 lakh, while prices for the top-spec V-Cross Z Prestige start at Rs 26.92 lakh*.
Every Indian car, SUV tested by Global NCAP under new protocols
Source Credit: Autocar India
Global NCAP’s new crash test protocols came into effect in July 2022, and in under two years, the organisation has tested 18 made-in-India models under the new norms. Compared to 10 years ago, when the Safer Cars for India campaign began, there are definitely more cars and SUVs scoring higher in the crash tests; out of the 18 models tested, half of them are 5-star rated cars and SUVs. Without further ado, here are the results of every India car and SUV tested by Global NCAP since July 2022.
Made-in-India road-legal Kawasaki KLX 230 S spotted testing
Source Credit: Autocar India
Fresh after we reported that Kawasaki India was working on a locally manufactured version of the Versys-X 300, we now have images of another made-in-India Kawasaki on test and this one is a whole lot more exciting.
Car, SUV sales growth in India nearly flat in April 2024
Source Credit: Autocar India
Domestic passenger vehicle sales got off to a slow start in the new financial year. In April, carmakers are estimated to have despatched around 3.38 lakh vehicles, which is a marginal growth (or almost flat) from sales in April 2023. The tepid despatches primarily reflect the high base in the year-ago period, higher network stock, the weak demand for small cars, and the advent of the general elections. Sales growth also moderated from March because automakers pushed up inventory across dealerships before the new financial year started.
Ampere Nexus vs rivals: specifications comparison
Source Credit: Autocar India
Ampere recently launched the Nexus electric scooter, their most premium offering to date. Given its price and features, here’s how the two-wheeler stacks up against its competitors. We had done a similar comparison with the Ather Rizta and the top variant of all its rivals. We’ll be doing the same thing now.
Bajaj Pulsar NS400 fully leaked before launch tomorrow
Source Credit: Autocar India
A large batch of images of the new Bajaj Pulsar NS400 have now leaked, giving us a clear look at the four colour options as well as the new LCD display. It appears that the Pulsar NS400 will be available in four shades - black, white, red and grey. Each colour scheme has striking looking graphics, but there are also multiple elements on the motorcycle that are different from the Pulsar NS200.
Mahindra XUV 3XO review - Feature and power packed compact SUV
Source Credit: Autocar India
Competent as the Mahindra XUV300 was, it never quite made it to the list of compact SUV bestsellers. Mahindra is now gunning for glory with the updated XUV300, christened the XUV 3XO. Mind you, this is no run-of-the-mill nip and tuck update. Mahindra has gone all out with a new look, redone interior, some class-first feature introductions, some class-best specifications and very enticing pricing. The aim is to take the fight to the Tata Nexon, Maruti Brezza, Kia Sonet and Hyundai Venue, and win.
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📰 International News
Chinese EV-makers are leaving Western rivals in the dust
To gird yourself for Auto China 2024, a nine-day motor show which ends on May 4th in Beijing, get there by car. On the opening day, navigating the human traffic eager to glimpse the mechanical marvels on display required the same tenacity as negotiating the Chinese capital’s gridlocked roads. Helpfully, the ride to the venue is also useful preparation for understanding the intense competition gripping China’s car industry—which the jamboree itself further underscores.
Shell exits China power market businesses
Shell has exited China's power markets as part of CEO Wael Sawan's drive to focus on more profitable operations including its natural gas and oil businesses.
Tesla's restructuring hits executive bench hailed by Elon Musk
Just over a year ago, Elon Musk shared the stage at Tesla's investor day in Texas with 16 executives who gave detailed presentations on the company's technology and growth plans, then lined up behind their boss in a show of solidarity.
Garmin's Q1 results beat on strong demand for fitness, auto products
Garmin topped Wall Street estimates for first-quarter results on Wednesday as the Swiss navigation device maker benefited from new launches and strong demand for its products in fitness and auto segments, sending its shares up 9.6%.
Tesla interns' offers are getting revoked weeks before their start date
Elon Musk’s latest cost-cutting victims are the summer interns.
📝 Albemarle profit just misses estimates on weak lithium prices
📝 Elimination of Tesla's charging department raises worries as EVs from other automakers join network
📝 Hands-free driving is not risk-free
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