Top Indian Automobile Industry News & Updates - 09 May 2024,Thursday
🏢 Industry
Election uncertainty could hurt Indian auto sales in May, dealers' body says
Uncertainty around the ongoing elections in India could hurt automakers' sales in May despite rising consumer interest for new model launches, a dealers' body said on Wednesday.
To achieve net zero, ICCT bets on EVs, finds CNG 'worse' than diesel
New Delhi: With a collective aim of going emission free, the passenger vehicle (PV) industry in India is considering multiple fuel technologies including electric vehicles (EVs), hybrids, compressed natural gas (CNG), flex-fuels, amongst others. However, while these may be moving in the right direction, each of them may not be necessarily feasible in the long run, says research agency International Council on Clean Transportation (ICCT).
APAC auto safety systems market to expand at 2.6% CAGR over 2023-28: GlobalData
New Delhi: The increased prevalence of automotive active and passive safety systems can be attributed to an array of factors, including a heightened awareness of safety concerns among consumers and government regulations aimed at improving safety standards.
ETAuto Tech Summit’24: Know the top 5 CTOs who are set to attend the annual meet-up
New Delhi: The countdown has begun to the annual meet-up of all the auto technology experts and enthusiasts, bringing a platform for transformative changes in innovation and technology front. The 5th edition of ETAuto Tech Summit has brought an opportunity to gather together and bring disruption in the automotive technology segment. For this ETAuto has invited leading CTOs (Chief Technology Officers) to come and address the technology advancements.
Ex-Tesla member partners with Indian EV maker to produce 98.5% efficient e-motors
New Delhi: DG Innovate, a UK-based company led by ex-Tesla member, has partnered with EVage Motors to bring 98.5% efficient e-motor in India. These motors initially are going to manufactured in Punjab. DG Innovate’s proprietary Pareta electric drive system is going to be manufactured in India by EVage.
Chinese carmakers back on Indian auto industry radar
New Delhi: Chinese carmakers are now creating a new passage to India after being given the cold shoulder for over a couple of years now.
Auto retail sector grows 27% YoY in April 2024: FADA
Auto retail sales up 27% in April, passenger vehicles make record
Relief unlikely for OEMs seeking FAME benefits with pre-deadline stocks
Despite appeals from industry stakeholders, the ministry of heavy industries (MHI) will not change its stance, said sources.
📝 India's April auto sales rise 27% even as election uncertainty affects consumer sentiment: FADA
📝 Vehicle retail sales soar 27% in April; two-wheeler registrations jump 33%, cars up 16%
📝 Hydrogen fuel of future, vehicles will run on 100% ethanol in coming years: Nitin Gadkari
📝 DG Innovate joins hands with EVage Motors, forays into domestic EV space
📝 Hyundai aims to make hybrid cars at its US EV plant, no new investment planned
Read More >>
🎤 Interviews & Features
Tata packs a Punch: The five forces that pulled it off
Tata Motor’s decade-and-a-half-long journey in India’s fiercely contested passenger vehicle market has seen more misses than hits. While the Indica, the first passenger hatchback from Tata Motors launched in 1998, made some noise, the list of forgotten models, including Indigo, Bolt, Estate, Sierra, and Zest, is long. The Tata Nano, the INR1 lakh car launched in 2008, too, fizzled out after the initial euphoria.
2024 Maruti Suzuki Swift to launch : Expected price, features and all we know so far
Maruti Suzuki is gearing up to unveil the eagerly awaited fourth generation of its popular Swift hatchback in India. The much-anticipated announcement regarding the pricing of the upcoming Swift is scheduled to take place during an event in Delhi tomorrow, reported HT Auto.
📝 Mahindra XUV 3XO SUV first drive review: Comprehensive challenge to champions
Read More >>
🚗 Cars / SUVs
Top 5 best-selling SUVs in April 2024
SUV sales have picked up, owing to its popularity amongst customers and for the second month in a row, Tata has managed to outsell every other carmaker, including Maruti Suzuki, to take the top spot. That said, Hyundai is also seeing success with the new Creta, while Mahindra is standing its ground firmly with Scorpio sales. Here are the top 5 best-selling SUVs in April 2024.
Top 5 most affordable compact SUVs with sunroof — XUV 3XO to Tata Nexon
Sunroofs in vehicles have become the latest hot-selling features and vehicles in the sub-4 metre segment have also started offering them, especially SUVs. Some carmakers even offer panoramic sunroofs, and here are the most affordable compact SUVs in India on sale right now with a sunroof.
New-gen Maruti Swift VXi walkaround – Is it the most VFM variant?
As Maruti Suzuki gears up to launch the fourth-gen Swift in India, units of the latest iteration of Swift have started reaching dealerships across the country. Scheduled for a market launch on 9 May, the new-gen Swift has been spied on numerous occasions over the past one year.
📝 Zoomcar eyes onboarding 20,000 cars by end of FY25
📝 Creta to XUV 3X0: SUVs with panoramic sunroof priced under ₹20 lakh
📝 Hyundai announces discount on top models, including Exter SUV, in May
Read More >>
🚗 Luxury Cars
India considering proposal mandating luxury and high-end car makers to use ‘green steel’
New Delhi: India is considering the prospect of mandating procurement of green steel among auto-mobile companies, for premium or ultra high-end models, including luxury car manufacturers like Audi or BMW.
📝 2024 Porsche Panamera launched in India; Check price, features, performance and more
Read More >>
⛟ Commercial Vehicles
Tata Motors to launch 1-tonne Ace on May 9
Tata Motors, India’s biggest commercial vehicle maker, will launch a bigger and more powerful version of the electric Ace on Thursday. This move is poised to bolster the company’s presence in the electric vehicle (EV) last-mile mobility segment.
TVS SCS wins new business deal for Eicher’s bus facility in Baggad, MP
New Delhi: TVS Supply Chain Solutions Limited, a global supply chain solutions provider and one of the largest and fastest-growing integrated supply chain solutions providers in India, has won a new business contract from VE Commercial Vehicles (VECV) for managing its in-plant warehousing and logistics function at its Eicher bus factory located in Baggad, Madhya Pradesh.
Read More >>
🏍 2/3 Wheelers
Yamaha FZ-S Fi Version 4.0 gets new colour options
Yamaha India has introduced new colour shades for the FZS-S Fi Version 4.0 DLX. The company has introduced a new Ice Fluo-Vermillion and Cyber Green colour shades in the model at Rs 1.29 lakh (Ex-Showroom, New Delhi).
New Royal Enfiled Classic 350 Bobber leaks surface online: Single-piece seat and ape-hanger style handlebar expected
Royal Enfield is set to launch a new addition to its 350 cc motorcycle range, with a bobber variant of the Classic 350 in the works. The new model, expected to be named the Goan Classic 350, hints at Royal Enfield's continued commitment to the custom culture, following the success of its Shotgun 650, reported HT Auto.
Royal Enfield 350cc Bobber design patented — launch this year
Royal Enfield has its plate full with upcoming products in the 350cc, 450cc and 650cc categories. In the entry-level 350cc range, the Chennai-based bikemaker retails four models currently including Classic, Bullet, Meteor, and Hunter. The brand will add at least one more model to this category in the form of the upcoming bobber.
Two-wheeler makers see first-time & rural buyers come back in FY25
New Delhi: Two-wheeler makers are counting on an influx of first-time buyers and a rise in rural demand to drive growth in fiscal year 2025, supported by forecasts of a normal monsoon and a pipeline of new product launches.
Yamaha unveils new colours in FZ-S Fi version 4.0 DLX at INR 1,29,700
New Delhi: India Yamaha Motor (IYM) Pvt. Ltd., in alignment with ‘The Call of the Blue’ brand campaign, Wednesday introduced new colour shades in its popular streetfighter model, FZS-S Fi Version 4.0 DLX for the young riders of today. IYM has launched the new Ice Fluo-Vermillion and Cyber Green colour shades in the model at a price of INR 1,29,700/- (Ex-Showroom, New Delhi).
Q4 FY24 results preview: Hero MotoCorp likely to post strong growth in net profit
New Delhi: Hero MotoCorp will announce its Q4 FY24 results today. According to analysts, India’s largest two-wheeler manufacturer is expected to post a robust growth in its net profit on the back of strong volume growth, new product mix and softening of commodity prices. The company has launched Xtreme 125R in the fast-growing 125cc motorcycle category in January. The model has been received well, and helped the company regain its market share from 9.7 per cent in December to 15.7 per cent) in March.
Hero MotoCorp confident of gaining market share this year; to set up new unit in Brazil
New Delhi: Hero MotoCorp on Wednesday said the financial year 2023-24 has been a remarkable period for the company. This was driven by its focus on “product launches, network upgrade and customer satisfaction”.
Kawasaki Ninja 400 discontinued in India
Kawasaki has pulled the plug on the Ninja 400 from the Indian market. This comes a few months after the Japanese sports bike brand introduced the all-new Ninja 500 in our country. In fact, the new Ninja 500 is heavily based on the Ninja 400 and the former was launched as a direct replacement for the latter.
Hero MotoCorp Q4 net profit up 16.4% on aggressive product strategy, network upgrade
Hero MotoCorp reported highest ever net profit and revenue growth for FY24. For Q4FY24, one of the world’s largest manufacturer of motorcycles and scooters reported net profit of Rs 943.46 crore in Q4 FY24, up 16.4% YoY from Rs 810.80 crore in Q4FY23. The consolidated revenue for the quarter stood at Rs 9,617 crore, a growth of 14% over Rs 8,434.28 crore it reported in Q4 of FY23. The strong earnings performance was powered by aggressive product launches through the year as well as a bump up in its retail strategy.
TVS Motor’s PAT surges 40% to ₹2,083 crore in FY24
Chennai: TVS Motor Company has reported a 40 per cent growth in profit after tax at ₹2,083 crore for FY24 compared with ₹1,491 crore. Its revenue from operations grew by 20% at ₹R31,776 crore as against ₹26,378 crore recorded in 2022-23. Operating EBITDA for the year improved by 100 bps to 11.1% over FY23. The PBT for the year ended March 2024 grew by 39% to ₹2,781 crore, compared to ₹2,003 crore reported during the previous year. For the quarter ended March 31, 2024, the company’s PAT stood at ₹485 crore as against ₹410 crore. Its revenue from operations grew by 24% at ₹8,169 crore against ₹6,605 crore in the quarter ended March 2023.
📝 Hero Moto to make 'big strides' in FY25 through EV product launches in mid & affordable segment
📝 TVS Motor Company Q4 Results: Net profit jumps 18% YoY to Rs 485 crore
📝 Hero Xoom 125R & Xoom 160 launches slated for 2024, new Vida EVs to come: CEO
📝 New Bajaj Pulsar NS400Z to be christened Dominar NS400Z in Brazil
Read More >>
🚲 Electric 2/3 Wheelers
Hero Electric, Okinawa, Greaves Electric kept out of new subsidy regime
Industry sources point out that Hero Electric, Okinawa Autotech, Greaves Electric Mobility and Revolt Motors (among others) have not yet been registered for subsidies in the new scheme, called Electric Mobility Promotion Scheme (EMPS). These OEMs are among the seven companies against which the ministry of heavy industries had initiated recovery of varying amounts of subsidies in 2022, alleging misappropriation.
TVS Motor draws up ₹1,000-crore capex in FY25, to launch new variants of iQube & E3W
Chennai: TVS Motor Company, a leading two- and three-wheeler maker, proposes a capex of about ₹1,000 crore in FY25 and will introduce a new range of two- and three-wheelers (both in ICE and battery segments), starting with the launch of multiple variants of its electric scooter iQube. The company, which posted its highest-ever vehicle sales, revenue and net profit in FY24, doubled its electric two-wheeler (iQube) sales from 97,000 units in FY23 to 1.94 lakh units in FY24, with cumulative volumes surpassing three lakh units. iQube is now available at 700-plus touchpoints, up from 300 plus in July last year.
📝 Revolt RV400 & RV400 BRZ e-motorcycle prices revised, starts from ₹1.43 lakh
📝 Ola Roadster design patent leaked, stays true to concept. Check details
📝 iVOOMi JeetX ZE with upto 170 km of range launched at ₹79,999
Read More >>
⚙ Components
Kirloskar Oil Engines reports highest-ever quarterly, annual top line on robust market demand
Pune: In the fourth quarter of FY24, Kirloskar Oil Engines Limited (KOEL) reported a 21 per cent year-on-year increase in net sales, reaching ₹1,378 crore as compared with ₹1,141 crore in the same period last year. The company’s EBITDA saw a significant growth of 38 per cent standing at ₹178 crore, while the EBITDA margin improved to 12.8 per cent from 11.2 per cent in Q4 FY23. Net profit for the quarter stood at ₹118 crore, reflecting a 26 per cent gain year-on-year.
Greaves Cotton FY24 EBITDA up 53% Y-o-Y to INR 232 cr
New Delhi: Greaves Cotton Limited, a leading diversified engineering company, has reported standalone revenues of INR 481 crore for the fourth quarter of fiscal year 2024, an increase of 10% Y-o-Y. The Company has reported an improvement in standalone margins with quarterly EBITDA at INR 56 crore, a growth of 9% Y-o-Y. The Q4FY24 consolidated revenue stood at INR 673 crore.
Bharat Forge Q4 profit rises 77% at ₹227.12 crore
New Delhi: Auto components major Bharat Forge Ltd on Wednesday reported a 77.8 per cent rise in consolidated net profit at ₹227.12 crore in the fourth quarter ended March 31, 2024, riding on higher sales.
Nagesh Basavanhalli to step down as vice-chairman, Greaves Cotton
Read More >>
🌇 Allied Industries
Shubham Automation selects Dassault Systems platform for faster product development
New Delhi: Dassault Systems Wednesday said that Shubham Automation, one of the leading providers of industrial automation solutions, has selected Dassault Systèmes’ 3DExperience Works to accelerate its product development cycle.
Gen AI: Catalysing Innovation in Product Design at Tata Elxsi
As Tata Elxsi continues to redefine the landscape of product design, their innovative integration of Gen AI heralds a new era of efficiency and creativity.
TVS SCS wins new business deal for Eicher's bus facility in Baggad
VECV, a leading manufacturer of commercial vehicles, has been associated with TVS SCS since 2006 for in-plant logistics operations at its truck plant in Pithampur, Madhya Pradesh. The new deal for VECV’s bus plant will last for three years. This two-decade partnership has created over 1,200 job opportunities in Madhya Pradesh.
Kinetic Engineering says EVs, exports to drive Rs 700 crore 5-year revenue target
Kinetic Engineering, already in long-term contracts with global auto majors like Renault Nissan, BRP, Magna Powertrain, American Axle, is now focussing on EVs along with exports to drive growth. Typically, electric vehicles need a lot less components than the conventional IC engines. However, transmissions are still required and Kinetic Engineering is betting on its ability to develop different types of gears to power its Rs 700 crore in 5 years revenue target.
📝 Bridgestone India launches new Dueler All-Terrain 002 tyres
Read More >>
📖 Magazines News
Mahindra XUV400 likely to get new variants
Source Credit: Autocar India
The Mahindra XUV400 variants could soon undergo a major rejig. Sources tell us that eight new offerings are on the way. The current line-up has three options, and it is not yet clear whether the company will continue selling these after the launch of the new variants.
Updated Land Rover Defender revealed with captain chairs option
Source Credit: Autocar India
The Land Rover Defender line-up has been shuffled in international markets, with the addition of a luxurious new three-row version, a more potent diesel engine, and a plug-in hybrid that uses a three-cylinder engine.
KTM 990 RC R prototype revealed
Source Credit: Autocar India
KTM has unveiled the upcoming 990 RC R prototype, which will go on to be its all-new flagship road-homologated sports bike. Back in 2015, KTM discontinued the RC8 and announced that it would halt production of its street-legal superbikes and focus on making naked and adventure motorcycles. Well, the 990 RC R is the successor to the RC8 and focuses on building on its legacy. Images currently showcase a camouflaged prototype, and the full design has yet to be unveiled.
Royal Enfield Goan Classic 350 design revealed
Source Credit: Autocar India
It has long been known that Royal Enfield is working on a 350cc bobber, and we also know that it's going to be called the Goan Classic 350. Now, we have unearthed an image that shows us the final design of this motorcycle, and even though this is a low-res black-and-white image, we can see that the bike looks quite handsome.
Tata Harrier, Safari MY2023 stock continues to get over Rs 1 lakh in discounts
Source Credit: Autocar India
Despite the start of a new fiscal year, it seems like Tata dealerships still have significant inventory of not just 2023 models, but also have remaining stock of pre-facelift SUVs. This is why there are still tremendous discounts available on the pre-facelift Nexon, Harrier and Safari, considerable benefits on facelifted MY2023 models – the aforementioned SUVs, plus the Punch, Altroz, Tiago and Tigor – and decent discounts on MY2024 models. Here’s how much you could potentially save on your new Tata car or SUV this month.
BMW M4 CS revealed with 550hp
Source Credit: Autocar India
BMW has added the potent M4 CS to its growng "CS or Competition Sport" line-up of track focused cars. Following on from the existing ‘Competition Sport’ versions of the M2, M3 and M5, the new M4 CS has more power, less weight and a reworked chassis set-up compared with the Competition car, in a bid to improve its straight-line performance and on-limit handling.
Bentley Batur Convertible revealed, production limited to 16 units
Source Credit: Autocar India
The ultra-exclusive Batur line-up from Bentley now has a convertible body style. The Batur convertible is not only likely to become Bentley’s most expensive car yet but also one of the most powerful combustion-engined convertibles to come out of Great Britain.
Kawasaki Ninja 400 discontinued in India
Source Credit: Autocar India
Kawasaki has pulled the plug on the Ninja 400, a few months after it launched the Ninja 500.
Read More >>
📰 International News
Toyota reports booming profit, vows to invest to keep growth going
Toyota Motor Corp.'s annual profit totaled 4.9 trillion yen ($31.9 billion), up from 2.45 trillion yen the year before, while its sales jumped 21 per cent to 45 trillion yen ($290 billion), the company said Wednesday.
Tesla sends top executive back to China amid weak sales
Tesla Inc is sending executive Tom Zhu back to China, where he led the carmaker's entry into the country, according to a person familiar with the matter.
Chinese EV makers' plans to make cars in Europe
Some Chinese carmakers are looking to set up manufacturing and assembly plants in Europe as they aim to ramp up sales in the region of lower costs cars to rival their European competitors amid slowing demand at home, the world's largest car market.
Motional puts robotaxi deployment on back burner, to focus on technology development
Self-driving technology company Motional said on Tuesday it would focus on developing its core technology and delay commercial robotaxi deployments, while it lays off staff as part of its restructuring process.
Rolls-Royce unveils Cullinan Series II and Black Badge version
Rolls-Royce has unveiled the facelift of the super-luxury SUV Cullinan. The Cullinan Series II has been updated with advanced digital interface, a new private members app, and a new clock cabinet incorporating Spirit of Ecstasy figurine into Cullinan’s interior.
Battery recycling shatters the myth of EV waste
Making a battery for an electric vehicle typically requires mining hundreds of pounds of hard-to-extract minerals. That's put a spotlight on batteries' heavy environmental toll, at least upfront. But the latest advances in battery recycling, including by leading US battery recycler Redwood Materials are shrinking EVs' footprint.
Four automakers to recall over 7,783 vehicles for faulty parts
Hyundai Motor, Kia and two other carmakers will recall over 7,700 vehicles due to faulty components, the transport ministry here said on Wednesday.
Amazon unveils first electric seaport trucks amid push to slash tailpipe emissions
Amazon.com on Tuesday unveiled the first of a dozen Volvo electric big rigs it plans to deploy this year to pick up cargo from the nation's busiest container seaport in Southern California.
📝 Luminar says Tesla is biggest customer for its lidar sensors
📝 EU tariffs on Chinese EVs could backfire, German car bosses warn
📝 Mercedes retreats to gas guzzlers as EVs fail to boost profit
📝 China's Nio sets sights on big EV race with Tesla, ropes in larger rival BYD for batteries
📝 Global car giants seek tech allies in China's cutthroat EV market
📝 Volkswagen to beef up hybrid offerings as EV shift stumbles
📝 Lamborghini Huracan successor confirmed for debut in August 2024
📝 This Ford patent aims to elevate off-road experience. Here's how it works
📝 Land Rover Defender updated, gets new powerful engine & refreshed interiors
📝 2024 Mercedes-Benz CLE53 AMG Cabriolet unveiled, is the entry level drop-top
📝 2024 Mercedes-Benz CLE53 AMG Cabriolet unveiled, is the entry level drop-top
Read More >>
405, TSL Corner
contact@nurcmedianext.com
+91-11-49849324, +91-9958949710
