Top Indian Automobile Industry News & Updates - 07 May 2024,Tuesday
🏢 Industry
FADA joins with Frost & Sullivan for customer experience study, results in Sept 2024
The Federation of Automobile Dealers Associations (FADA), the apex body championing the interests of India's Automobile Retail Sector, has teamed up with Frost & Sullivan, a Growth Pipeline Company to spearhead an ambitious Customer Experience Index (CEI) Study.
High GST rate is a big factor in low sales of entry-level cars: FADA
New Delhi: Goods and services tax (GST) should come down to at least 18 per cent for automobiles, as it is one of the main reasons for small cars and entry-level two-wheelers not picking up sales, Manish Raj Singhania, President, Federation of Automobile Dealers Associations (FADA), said on Monday. High taxation matters a lot for the customers in rural and smaller cities, he added.
TI Clean Mobility raises further capital of ₹580 crore from GEF Capital Partners
Murugappa Group’s electric vehicle arm TI Clean Mobility Pvt Ltd (TICMPL) has signed definitive documents with South Asia Growth Invest III LLC and South Asia EBT Trust III (collectively referred to as GEF) to raise further capital of ₹580 crore by way of equity and CCPS (Compulsorily Convertible Preference Shares).
Baba Kalyani’s nephew and niece to court: Freeze family assets
In the opening proceedings of a civil case on Monday, Bharat Forge chairman Baba Kalyani found himself at the centre of legal scrutiny. The lawsuit, filed by his nephew and niece, Sameer Jai Hiremath and Pallavi Swadi, seeks division of assets within the Kalyani Hindu Undivided Family (HUF). The duo, aiming for a 1/9th share in all assets, petitioned the Pune Civil Court to freeze the HUF’s assets, valued at a staggering Rs 65,000-70,000 crore.
EV maker VinFast starts talks to set up dealerships in India
EV maker VinFast India plans to establish its brand presence and boost its retail network throughout the country. The EV maker’s chief executive, Pham Sanh Chau, said that VinFast India is currently engaging with Indian dealers and distributors.
Why Elon Musk prioritized China over India
Will Linde India really benefit from semiconductor business?
Mumbai: Investors in industrial gas giant Linde India find themselves in a quandary. The question here is: who will benefit from the potential semiconductor business? The company, its UK-based parent, or its privately owned units in the country.
Bharat NCAP to release results of first batch of crash tested cars soon — Is Maruti Swift in list?
Bharat NCAP recently shared a teaser on its social media handles suggesting that the autonomous safety body will soon announce the next set of results of crash tests. The first Bharat NCAP crash test report came out in December 2023 when Tata Harrier and Tata Safari earned a perfect 5-star safety rating from Bharat NCAP.
📝 Authorised car dealers can claim input tax credit on demo cars: AAR
📝 China's Leapmotor set to follow BYD, MG into India; budget EV space set for intense competition
📝 Understanding the Green Hydrogen landscape in India: Demand from industries, global collaborations are the key
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🎤 Interviews & Features
Limited-run Mahindra XUV700 Blaze Edition leaked ahead of launch
Mahindra XUV700 was a runaway success when it was first launched in the market in 2021. It replaced the outgoing XUV500 and came with both 5-seat and 7-seat layouts. Later a 6-seat layout with captain seats in the middle row was also added to the XUV700 range.
Pushing the green wheel: India’s drive towards sustainable transportation
Amidst the urgent call to combat climate change, transportation emerges as a major emitter and a vital avenue for substantial emissions reduction, underscored by the recent UN Climate Change Report urging bold measures to cap global warming at 1.5 degrees Celsius.
There is no impact of elections on the market: Ashok Leyland MD & CEO
Source Credit: Shine Jacob, Business Standard
At a time when the industry is expecting an election impact on commercial vehicle (CV) sales, Shenu Agarwal, managing director (MD) and chief executive officer (CEO), Ashok Leyland, believes that the segment may do well during the first half of this financial year. In an interview with Shine Jacob, Agarwal also talks about the company's capital expenditure (capex), funding plans in electric vehicle (EV) arm Switch and growth in bus sales.
Edited excerpts
📝 We expect strong momentum to continue in business: Warren Harris, Tata Tech
📝 New Force Gurkha vs Mahindra Thar: Battle of 'Desi' 4x4 Titans
📝 Mahindra XUV 3XO vs Kia Sonet vs Tata Nexon vs Hyundai Venue: Engine, Prices, mileage compared
📝 We drove Toyota Rumion for 600 kms in a day, all for answers to biggest question
📝 Mahindra XUV 3XO vs Hyundai Venue: Which compact SUV to choose
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🚗 Cars / SUVs
Toyota Innova Crysta gets new mid-spec GX+ trim, priced at Rs 21.39 lakh
Toyota has launched a new mid-spec GX+ trim of the Innova Crysta in India at a starting price of Rs 21.39 lakh. The new GX+ trim sits on top of the base GX variant which is priced at Rs 19.99 lakh. The Japanese auto giant is offering the Innova Crysta GX+ trim in two variants– 7-seater and 8-seater, the latter priced at Rs 21.44 lakh (all prices ex-showroom).
2024 Maruti Swift starts reaching dealerships ahead of launch this week
Maruti Suzuki is gearing up for its biggest car launch this year in the form of the all-new Swift. Recently, the Indo-Japanese carmaker teased the upcoming iteration of Swift on its social media handles. Ahead of its launch, scheduled later this week on 9 May, Maruti has already started dispatching units of the fourth-gen Swift to Arena dealerships.
📝 Tata motors Punches at Maruti's best-seller
📝 Citroen Basalt spied, showcasing details similar to concept model. Check details
📝 Maruti Suzuki Swift in the age of SUVs: Can the updated hatchback make a mark?
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Electric-Cars / SUVs
📝 VinFast’s EV ambitions get a reality check as shares plunge 65%
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🚗 Luxury Cars
Lexus India completes 7 years offering innovative models
New Delhi: Since its debut in the Indian market in 2017 Lexus has steadily grown with its models.
Captain of England Harry Kane’s car collection
Harry Kane is one of the most lethal Number 10 strikers in the world. He is already the leading goal scorer for both England and his former club Tottenham Hotspurs, but we take a look at his garage and find out how Bayern Munich scores on this side of the field.
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⛟ Commercial Vehicles
Olectra renews collaboration with BYD till 2030
Olectra Greentech Ltd (OGL), a leading manufacturer of electric buses, has achieved a milestone by surpassing 10,000 units in its e-bus order book. It is the first e-bus OEM in the country to achieve this.
📝 Zen Mobility opens manufacturing hub for Micro Pods with 50,000-unit capacity
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🏗 Construction & Agri Machinery
VST Zetor launches new range of tractors
"Developed at VST Zetor plant in India, these tractors feature an indigenously made powerful, best-in-class DI Engine, fully constant mesh transmission with helical gears and VZmatic hydraulics. Its wider platform, dual diaphragm clutch, optimum turning Radius, adjustable premium seat, dual-acting power steering and aerodynamic styling ensure ease of operation with desired comfort," it said.
📝 Construction equipment sales rise 26% to 1,35,650 units in FY24: ICEMA
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🏍 2/3 Wheelers
📝 BMW Motorrad introduces Automated Shift Assist system. Here’s how it works
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🚲 Electric 2/3 Wheelers
One out of three 2W users are ready to buy E2Ws, says BCG report
New Delhi: The Indian electric two-wheeler (E2W) market has grown from 0.3% of all 2W sold in FY21 to 5.4% in FY 24, confirms the MoRTH data.
Ola Electric plays price card to push sales & market share in April
Despite the partial withdrawal of Centre-sponsored subsidy from April, Ola Electric has been able to ramp up its sales and marketshare during the month. In fact, its market share during April is at an all-time high. The company has been able to do so by not passing on the price hike to customers unlike its peers like TVS, Bajaj, and Ather, all of whom have seen decline in sales and market share post the subsidy withdrawal.
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🌇 Allied Industries
CEAT to enter North & Latin America
Mumbai: Tyre-maker CEAT will enter North and Latin America with passenger car and truck and bus radial tyres in 2024. CEAT will commence exporting their products to North America followed by Latin America. The Mumbai headquartered company has planned to grow its exports to 25 per cent from the current 20 per cent in the next three years.
Tata Tech slips 5% after ramp down in key account drags results
ata Group’s recently-listed IT services arm Tata Technologies recorded a 5% drop in its shares as the bourses opened on Monday, after the company posted a 27% year-on-year decrease in its Q4 net profit and 7% drop in topline on Friday after market hours. Since its listing in November, the stock has slipped about 13% to Rs 1,045.5 from its listing price of Rs 1,200, but is still significantly above its issue price of Rs 500.
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🌢 Fuels, Lubricants & Charging Stations
NCRTC's first EV charging station operational at Sahibabad RRTS
This step is one of the many measures for ensuring last-mile connectivity, the statement stated, adding that it will allow people to charge their four-wheelers in just one hour using the fast charging facility.
📝 Oil climbs after Saudi Arabia hikes prices
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📖 Magazines News
Toyota Innova Crysta GX+ launched at Rs 21.39 lakh
Source Credit: Autocar India
Toyota Kirloskar Motor has introduced a new, mid-spec variant for its highly popular MPV, the Innova Crysta. Named GX+, it has a base price of Rs 21.39 lakh and is positioned between the GX and VX versions.
Creta dominates Hyundai India order book in April 2024
Source Credit: Autocar India
The Hyundai Creta is seeing its sales reach new heights with each update. The Creta facelift, which went on sale this January, has registered a 12.5 percent year-on-year growth, averaging over 15,000 units every month. In April itself, Hyundai India sold 15,447 units of the Creta.
SUVs outnumber hatchbacks in 10 bestsellers of FY2024
Source Credit: Autocar India
The financial year 2023–24 was a record-breaking one for the Indian automotive industry, with 4.21 million passenger vehicles sold during the period. SUVs comprised five of the top-10 selling models; the list featured three hatchbacks and two MPVs. Among brands, Maruti Suzuki had the highest number of vehicles, with a tally of six. Tata Motors had two. Hyundai and Mahindra had one each. Here are the rankings:
Maruti Grand Vitara gets discounts of up to Rs 74,000 this May
Source Credit: Autocar India
Maruti Suzuki Nexa dealers are offering cash discounts, exchange bonuses and other benefits on most of its line-up. Barring the Invicto MPV, all Nexa cars are being offered with discounts this month.
New Maruti Swift: 5 big changes
Source Credit: Autocar India
Maruti is set to launch the new Swift in India on May 9, which is a generational update the hatchback is receiving after six years. With bookings already open, here is a list of the top five things that make the new Swift better than the outgoing model.
Ford has no plans to bring EcoSport, Figo, Aspire back to India
Source Credit: Autocar India
Ford’s India return has been in the news for a while now. We’ve reported on how the Endeavour SUV is likely to make a comeback with the Everest nameplate, how the Ranger pickup is also being evaluated, and how the brand is focusing on affordable EVs based on a new platform developed by a Ford skunkworks team. In addition, some older design patents that were filed by Ford in India – including an SUV and an MPV – have surfaced online, fuelling speculation that the American brand may bring back some popular nameplates, along with more petrol and diesel-powered models.
Mahindra XUV300 discounts increase to Rs 1.79 lakh on MY2023 stock
Source Credit: Autocar India
Even in the fifth month of 2024, Mahindra still seems to have a decent backlog of unsold MY2023 SUVs – including the XUV400 EV, XUV300, XUV700 and Scorpio-N – which has prompted the massive discounts and benefits on these models to continue. In fact, the big cash discounts on the MY2023 XUV700 and Scorpio-N remain the same, while benefits on the XUV300 have increased. Here’s how much you could save on your new Mahindra SUV this month. Do note that there are no discounts available on the Scorpio, newly launched XUV 3XO, and the Thar, during May 2024.
Bajaj CNG motorcycle engineering details leak online
Source Credit: Autocar India
Bajaj Auto’s upcoming CNG motorcycle is shaping up to be one of the most interesting launches of this year. The new two-wheeler, set to hit the roads on June 18, could reduce the running costs of a bike by about 50 percent or more, revealed Rajiv Bajaj, the company’s managing director, at the launch of the new Pulsar NS400Z on Friday.
Bajaj lines up more 400cc bikes for India
Source Credit: Autocar India
Bajaj Auto, which launched NS400Z, its first 400cc bike under the Pulsar family, has dropped enough hints to suggest that there are more offerings in the pipeline. The company’s managing director, Rajiv Bajaj, said, “In my view, this is the most lucrative motorcycle segment in the world. It's high in revenue, high in bottom line, high on imagery; so, it’s good for the brand and the product in every way.”
Bajaj aims to outsell Honda in 125cc-plus bikes category
Source Credit: Autocar India
Bajaj Auto, India’s top two-wheeler exporter, is now neck-and-neck with Honda Motorcycle & Scooter India (HMSI) in the 125cc-and-above motorcycles segment, said the company’s managing director Rajiv Bajaj. He attributed this growth to their “two-pronged” approach: besides its own range of motorcycles, i.e. the Pulsar and Dominar range, Bajaj Auto sells products of partner brands like KTM, Husqvarna and Triumph.
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📰 International News
Volvo Cars April sales rise on strong EV demand
Volvo Cars' sales rose 27% in April from a year earlier to 65,838 cars, boosted by demand for electric and hybrid vehicles, the Sweden-based group said on Monday.
Mercedes unveils AMG CLE 53 4MATIC+ Cabriolet
The integrated starter generator briefly provides an additional 17 kW (23 hp) of boost power and 205 Nm of torque. It also feeds the 48-volt electrical system. Other technical features of the new model include the AMG Speedshift TCT 9G transmission, fully variable all-wheel drive AMG Performance 4MATIC+ and active rear-axle steering, the company added.
EU probes on Chinese subsidies and imports
The European Union launched an investigation into China's procurement of medical devices on Wednesday in a latest effort to protect home-grown manufacturers.
BorgWarner secures additional eMotor business from Chinese EV maker XPeng
New Delhi: BorgWarner has won two high-voltage hairpin (HVH) eMotor business from XPeng, a Chinese Smart EV manufacturer, for use on two upcoming SUV models.
RPT-Gasoline demand growth to slow this year on EV growth in China, U.S.
Global petrol demand growth could halve in 2024, squeezing second-half refinery margins, analysts said, driven by a shift to electric cars in China and the United States and a return to normal consumption after last year's bounce following COVID-19.
French carmakers target fourfold jump in EV sales by 2027
France's car industry will aim to ramp up electric car sales fourfold by 2027 under a strategy agreement to be signed with the government on Monday, just as the president of China embarks on a state visit in the country.
Shell in talks to sell Malaysia fuel stations to Saudi Aramco, sources say
Energy giant Shell is in talks with Saudi Arabia's state-owned Saudi Aramco to sell its gas station business in Malaysia, the second-largest such network in the country, four industry sources aware of the discussions said, and a deal could be worth up to USD 1 billion.
Europe's auto suppliers reach the end of the road
Emrullah Karaca has made brakes for the past 20 years, but he is now learning to assemble heat pumps instead, as the Continental factory where he works in northern Germany is slated to close.
German car sales rise in April but electric lag persists
Additional working days boosted new-car sales in Germany in April, but demand for electric vehicles cooled further in the wake of the phaseout of government subsidies.
EU election could force sharp turn in electric car policy
A change at the top of European institutions could herald a change in the 2035 target to phase out sales of internal combustion engine cars even though the automotive industry is already well down the road towards transitioning to electric vehicles.
📝 BorgWarner supplies Polestar BEV SUVs with eTVD systems
📝 Renault unveils C-segment SUV Symbioz
📝 Musk invites billionaire investor Warren Buffett to invest in Tesla
📝 Tesla lays off more staff in software, service teams, Electrek reports
📝 These carmakers are accused of leaking consumers' private data. Know more
📝 Are autonomous vehicles really smart? Check how a simple trick can fool them
📝 Nio on track to unveil its first mass-market car in May 2024, targets Tesla
Read More >>
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