Top Indian Automobile Industry News & Updates - 27 Aug 2024,Tuesday

🏢 Industry

Piyush Goyal meets Temasek, DBS, TVS Motor ahead of second India-Singapore Ministerial Roundtable today
Trade and industry minister Piyush Goyal met with top executives from prominent international companies such as Temasek holdings, DBS Bank, OMERS, Keppal infrastructure and TVS Motor Company on Sunday in Singapore, as per a statement from the commerce ministry. The meeting set the stage for the second India-Singapore Ministerial Roundtable (ISMR) and had as its main objective strengthening bilateral trade and investment ties.

Rapid: A new mission to power up India's manufacturing engines
The Union government is working with the industry to create a new manufacturing mission that will focus on specific sectors, two officials with direct knowledge of the discussions said.

Passenger vehicle stocks in place for festive season sales, says Maruti Suzuki India
The inventory level for passenger vehicles across India is around 38 days now, and there should be a minimum inventory of 30-31 days, because as the festival season kicks in, the dealers should have enough capacity so that they don’t lose on sales, a top official at Maruti Suzuki India (MSIL) said. Not only MSIL, other original equipment manufacturers (OEMs) such as Tata Motors, Hyundai Motor India (HMIL) and JSW MG Motor India are also working on similar days of stocks, so that they have enough supplies during the festival period.

Identify highways with high deaths: Apex court to govt
During a review meeting by the Supreme Court Committee on Road Safety at the state transport department on Sunday, it instructed officials to identify highways in the state with high mortality rate. Sanjay Mittal, secretary of the committee, who was chairing the meeting, provided necessary guidelines to all the officers of the State Road Safety Cell and road safety stakeholder departments.

Upcoming new car launches in September
Automobile manufacturers are gearing up to cash in on the forthcoming festive season with the launch of new vehicles featuring diverse powertrains. Here’s an overview of the cars to keep an eye on in September, including EVs and SUVs.

Tata Motors joins top 10 global auto firms with $51 billion market cap

Source Credit: The Times of India

Tata Motors has become the first Indian company to enter the ranks of the top ten most valued global automotive firms, thanks to a significant surge in its stock price. The company’s market capitalization reached $51 billion on July 31st, making it the highest-valued automotive firm in India. This achievement comes after Tata Motors' stock rose over 50 percent this year and more than 101 percent in 2023.

On a global scale, Tata Motors now sits among industry giants.Tesla Inc. secures top position in the automotive sector with a market capitalization of $711.19 billion, followed by Toyota Motors at $307.50 billion and BYD Company at $92.65 billion.

Other companies in the top tier include Ferrari NV ($74.02 billion), Mercedes-Benz Group ($71.26 billion), Porsche ($68.29 billion), BMW AG ($59.54 billion), Volkswagen AG ($58.18 billion), and Honda Motor Co. ($56.12 billion).

Tata Motors' rise to the top ten has seen it surpass several major global players, including Stellantis NV ($50.64 billion), General Motors ($49.74 billion), Maruti Suzuki India ($48.36 billion), Mahindra & Mahindra ($43.41 billion), Ford Motor Co. ($43.1 billion), Hyundai Motor ($37.88 billion), and KIA Corp ($32.29 billion).

Top 10 most valuable automobile companies in the world by market cap

Rank	Company	Market cap (USD Billion)
1	Tesla Inc.	711.19
2	Toyota Motors	307.5
3	BYD Company	92.65
4	Ferrari NV	74.02
5	Mercedes-Benz Group	71.26
6	Porsche	68.29
7	BMW AG	59.54
8	Volkswagen AG	58.18
9	Honda Motor Co.	56.12
10	Tata Motors	51

IRF urges govt to form strict rules to reduce pollution from HCVs
"Currently, there are practically no regulations to reduce carbon emissions or to improve fuel efficiency for HCVs," IRF India chapter President Emeritus K K Kapila stated in a letter written to the BEE on August 6.

Ucal in pact with Blaer Motors for developing motor controllers

Hero Motors in talks with German company for transmission systems JV
“We plan to focus on exports and advanced technology, leveraging both companies' strengths to manufacture components with reduced material waste and machining costs, ideal for aerospace and automotive industries. We expect the German company to offer expertise in manufacturing processes, global customer needs, and market dynamics, enhancing our foothold in India and their presence in Europe. Once the agreements are finalised, we aim to leverage economies of scale, new technology, and expanded portfolio to enhance our market penetration and accelerate our global growth,” Hero has said in the draft red herring prospectus. It has clarified that no definite agreement has been signed till now and the German partner with which it has been in talks has not been named.

FADA calls for action against overfunding as passenger vehicle inventory hits record high
The Federation Of Automobile Dealers Association (FADA) are planning to approach financiers asking them to stop overfunding automobile dealers. Dealers have alleged that they have passenger vehicle inventories worth Rs.70,000 crore. According to FADA, the passenger vehicle inventory is between 67 and 72 days, the highest recorded in a year. The dealers state that they have not been able to make profits with passenger vehicle inventories beyond 30 days.

📝 Ecos Mobility offers exposure to fast growing car rental business in the country
📝 UP leads in country with 15 units to scrap vehicles
📝 Announcement on discount on buying new vehicle after scrapping old one this week
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🚗 Cars / SUVs

For Tata Motors high-tech, streamlined vehicle design adds competitive edge
Tata Motors will focus on introducing high tech looking cars with streamlined structure to improve efficiency.

2025 Skoda Kodiaq spied testing ahead of launch, only petrol engine offering
Skoda unveiled the second-gen Kodiaq globally in October last year. While it’s still unclear when the all-new Kodiaq will come to India, test mules of the same have already hit the Indian roads. An uncamouflaged test unit of the Kodiaq was recently caught on camera near Pune.

Maruti Suzuki gets INR 3.25 crore show cause notice from customs office
Maruti Suzuki received the show cause notice from the office of the Principal Commissioner of Customs for INR 3,25,16,727.

Kia introduces aurora black pearl colour option for Seltos X-Line trim
Kia India has introduced a new aurora black pearl color option for the X-Line trim of its popular Seltos lineup. This addition offers customers more choices to personalise their vehicles, complementing the existing Matte Graphite color. The new color enhances the car's exterior and interior, maintaining the distinctive X-Line styling with a luxurious two-tone interior.

2024 Hyundai Alcazar first TVC feat. SRK released
Hyundai is gearing up to launch the Alcazar facelift on September 9 but this is an old piece of news. Bookings for the seven-seat SUV commenced last week and interested buyers can book the vehicle at a token amount of Rs 25,000. The updated Alcazar will come in four variants—Executive, Prestige, Platinum, and Signature, and it will be offered in nine colour options.

Four ingredients that helped Mahindra Thar leave Maruti Jimny and Jeep Wrangler behind
After a series of misses, when Mahindra launched the Thar four years back in India’s intensely competitive SUV market, it hit the bullseye.

Tata Safari Pure (O) vs Mahindra Scorpio N Z8 Select: Which SUV is right for you
Source Credit: Hindustan Times

Tata Safari facelift was launched in India re-energising its rivalry with competitors including the Mahindra Scorpio N.

🚗 Luxury Cars

Mercedes-Benz to expand India footprint, target tier-2 cities with 10 new service centres
German luxury automaker Mercedes-Benz is set to expand its footprint in India's tier-2 cities, responding to growing demand in these emerging markets. The company has announced plans to establish ten new service centres in the calendar year 2024, focusing on enhancing its after-sales network before expanding sales operations, The Hindu Businessline reported.

Bollywood actor Janhvi Kapoor adds Toyota Lexus LM MPV to her car collection. Check its price and other details
Source Credit: Hindustan Times

Bollywood actor has driven home a new luxury car worth in crores. The actor was recently seen being driven in her new Lexus LM MPV days after she bought a Range Rover SUV.

📝 Top convertible cars to buy in India: Check prices, features and more
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⛟ Commercial Vehicles

TN moves towards electric mobility with plans to buy 1,500 e-buses for STUs
Chennai: The Tamil Nadu government has initiated efforts to introduce electric buses across the state, with plans to acquire around 1,500 battery-powered buses. These electric buses will be deployed in Chennai, Madurai, and Coimbatore to replace older vehicles. The government has decided to operate the buses using two different models: the GCC (Gross Cost Contract) model and the CapEx plus AMC (Annual Maintenance Contract) model.

🎤 Interviews & Features

Upcoming cars expected to launch this year: Tata Nexon CNG, Hyundai Alcazar Facelift, MG Windsor and more
The festive season has arrived, bringing with it a wave of excitement for automobile enthusiasts as several carmakers gear up to introduce new models. According to a report by Autocar India, the 2024 festive lineup is set to be diverse, with reportedly six new vehicles making their debut, ranging from SUVs to sedans and MPVs.

After a long stretch of slump, what’ll set the course for the Hero of 100 cc bikes
In Bollywood movies, heroes always rise from the ashes. Hero MotoCorp has done something similar in real life, exhibiting some hero-like qualities in the stock market.

Skoda Kylaq: 5 features likely to get
In 2025, Skoda is set to enter the sub-4 meter SUV segment with the brand-new Kylaq. This SUV will share the made-in-India MQB-A0-IN platform with the Kushaq and the Slavia. The Kylaq is expected to have its global unveiling at the Bharat Mobility Global Expo in January 2025. It will compete with the likes of the Maruti Suzuki Brezza, Tata Nexon, Hyundai Venue, Mahindra 3X0, and Kia Sonet. The Kylaq is anticipated to come equipped with the following features.

Hyundai, Kia introduce new temperature control innovation: What’s new?
Hyundai Motor Group, including Hyundai and Kia brand of cars, has introduced a new innovation in temperature control technology which has been designed to enhance passenger comfort and energy efficiency in vehicles.

2024 Hyundai Alcazar interior revealed: What’s new?
Hyundai has been flooding the social media platforms with teasers and images of the soon-to-be-launched Alcazar facelift. The South Korean carmaker has revealed the interior of the three-row SUV for the first time. The Alcazar facelift is set to launch on September 9.

Are sedans on the road to demise?
C-segment sedans, namely Verna, City and Ciaz have witnessed a significant reduction in sales volume as YTD July 2024 wholesale data suggests. When contrasted with the sales data from January- July 2023 with the same period in the consecutive year, 2024, the Verna has fallen from 19344 sold units to 11,364. In a similar pattern, the City has dropped from 13,122 to 7,117; the Slavia from 10,835 to 8,443; and the Ciaz from 7,193 to 4,206.

Maruti Suzuki S-Presso to Tata Tiago: Five best VFM cars for first-time buyers
Source Credit: Hindustan Times

🏍 2/3 Wheelers

TVS Jupiter 110 vs Hero Pleasure Plus: Specs comparison
TVS has launched the updated version of its best-selling scooter, the Jupiter 110. It is also the country’s second best-selling scooter after the Honda Activa. We compare it with the next closest competitor, the Hero Pleasure Plus XTEC and find out how the 2024 Jupiter stacks against it.

An SME with 2 Yamaha showrooms gets 400x IPO demand, leaves internet baffled
The SME IPO of Resourceful Automobile has received extremely strong response from investors, with an overall subscription of nearly 400 times at close today, a trend seen with SME issues this year.

Five features the TVS Jupiter 110 gets Honda Activa misses out
The new TVS Jupiter 110 takes commuting to the next level with added style and a host of segment-first features. With this, the Jupiter takes on the battle with the Honda Activa with more vengeance, making the segment more interesting.

Bajaj Auto to launch new CNG motorcycle launch, plans for Ethanol and electric vehicles by FY25: Report
Indian two-wheelers manufacturing company Bajaj Auto is reportedly gearing up to unveil a series of new clean energy vehicles. In an interview with CNBC-TV18, Rajiv Bajaj, the CEO of Bajaj Auto, revealed that the company is set to "soon introduce another CNG motorcycle," building on the momentum of the recently launched Freedom 125, which holds the distinction of being the world’s first motorcycle powered by CNG.

TVS Jupiter 110 vs Hero Zoom 110: Which 110cc scooter is right for you
Source Credit: Hindustan Times

TVS says that the seat on offer is the largest in the segment, and there are alloy wheels on offer as well. The Bluetooth-enabled cluster with call, SMS, Navigation and Voice Assist. The panels of the scooter are made up of metal.

Bajaj Auto targets 100K monthly sales of clean energy vehicles: Rajiv Bajaj

In an interview with CNBC-TV18, Bajaj Auto Managing Director Rajiv Bajaj said these initiatives were part of the firm’s broader goal to achieve monthly sales of 100,000 clean-energy vehicles this festival season.

📝 Bike dealer with 8 employees gets Rs 4,800 crore bids for Rs 12cr IPO
Read More >>

🚲 Electric 2/3 Wheelers

Okinawa Autotech under fire over unpaid salaries, faulty deliveries and more; ‘yet to get severance,’ says ex-employee
Okinawa Autotech, an electric two-wheeler maker, is in the spotlight for failing to pay its employees on time. Amid ongoing legal battles and operational challenges, the company's troubles seem to be mounting on a daily basis. Former employees have complained about unpaid salaries, while dealers have reported that the company delivered faulty vehicles to them.

After Bhavish Aggarwal’s dream IPO, how high will Ola’s stock rise?
New Delhi: Since the onset of the monsoon in the national capital in June, there has been a deluge at Ola Electric’s service centre in Moti Nagar, West Delhi—the facility has been inundated with damaged scooters, overwhelming the mechanics. While it is equipped to handle about 100 scooters, there are more than 500 at the workshop. With no parking available despite occupying space at the closed Ford showroom next door, the scooters are now spilling onto the main road.

Here’s a look at Can-Am’s Origin and Pulse electric motorcycles
Canadian automaker Can-Am, known for the Spykar and Rykar trikes, has forayed into the two-wheeler industry, unveiling the Origin and Pulse electric motorcycles. Can-Am has announced prices for the two motorcycles and is looking at a 2025 launch for the same.

Legacy ICE players unfazed by Ola's entry into e-bikes

Ola Electric may have launched its e-bikes as the cheapest in the category as well as compared to the 100- 110cc ICE engine ones, but the ride is not going to be easy as it was in the case of e-scooters. As a result, the launch has not fazed legacy players like Hero MotoCorp, Bajaj Auto orTVS Motor Company.

Ola Electric shares nosedive 25 % from record high in 5 trading sessions
Mumbai, Bhavish Aggarwal-run Ola Electric's shares have tumbled nearly 25 per cent from its record peak in the last five trading sessions, leaving investors jittery amid profit booking and broader market volatility.

⚙ Components

Madras Engineering plans to sustain 15% growth with expanded product offerings
Chennai: Chennai-based Madras Engineering Industries (MEI) Pvt Ltd, an auto parts manufacturer, has said it has devised plans including expansion of its product lines to sustain 15 per cent growth over the next 6-7 years. Recently, MEI joined the ranks of elite vendors supplying fossil-free auto parts to Swedish automotive giant Volvo Group Trucks. “We aim to maintain a steady 15 per cent annual growth, which we find sustainable. Rapid expansion isn’t our goal; instead, we prefer consistent, manageable progress. This growth rate would see us increase from $100 million to $300 million in the next six to seven years. We have a strategic plan and the resources to support this trajectory,” said Sriram Sivaram, Joint Managing Director of MEI, in a recent interview with businessline.

🌇 Allied Industries

AI crucial for future, India should lead global tech transition, create jobs: Ola founder Bhavish Aggarwal
Ola founder and CEO Bhavish Aggarwal, on Sunday said that the private sector should take the lead in generating employment opportunities and bear the primary responsibility for job creation, adding that while businesses must step up and do more, it is the government's role to create an enabling environment and address imbalances, such as those in trade.

Bluarmor C50 Pro helmet intercom launched at Rs 24,999
Bengaluru-based Bluarmor has launched its latest flagship helmet Bluetooth intercom system, the C50 Pro, priced at Rs 24,999. This is Bluarmor’s third helmet intercom product, after the HS1 and C30. The former offers just Bluetooth connectivity, while the C30 has the intercom option.

🌢 Fuels, Lubricants & Charging Stations

We should have the ability to create crucial technologies on our own: MeitY Secretary
The Secretary of the Ministry of Electronics and Information Technology (MeitY), S Krishnan, inaugurated the Model Indigenous Electric Vehicle Charging Station at the C-DAC Thiruvananthapuram Technopark Campus on Sunday.

Oil up 3% on Libya halt, Mideast escalation fears
Oil prices rose 2% on Monday on news of fresh production outages in Libya, adding to earlier gains on concerns that an escalating Gaza conflict could disrupt regional oil supplies.

Shah pushes for ethanol production in Chhattisgarh
New Delhi: Union Home and Minister of Cooperation Amit Shah on Sunday laid out a comprehensive plan to boost the cooperative sector in Chhattisgarh, focusing on ethanol production, maize cultivation, and expansion of cooperative societies.

Exxon forecasts 2050 oil demand to match today's, 25% above BP estimate
Exxon Mobil said on Monday it expects crude demand to stay above 100 million barrels per day (bpd) through 2050, similar to today's levels, a forecast 25% higher than top European rival BP.

🌍 Emissions/Environment

📝 CNG vehicles emit more pollutants than you think: Study from Delhi-Gurgaon shows
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💸 Finance & Insurance

📝 Non-disclosure of resale of insured car leads to claim denial
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📖 Magazines News

Hyundai Alcazar facelift interior, new features revealed
Refreshed Alcazar gets a new-look dual-tone interior

New car, SUV launches by Diwali
Tata Nexon CNG

Harley-Davidson Sportster S review: Revolution Max
Source Credit: Autocar India

Think ‘Harley Sportster’ and an air-cooled V-Twin engine bolted to a classically styled cruiser is the first image that comes to mind. However, the modern Harley Sportster models are anything but. Case in point, this Sportster S. It is powered by the same motor as the Pan America but doesn’t get variable valve timing, which means output figures are relatively lower. However, with 121hp and 125Nm on tap, its output definitely isn’t lacking. And it feels light years faster than the old air-cooled models.

New-gen Mercedes CLA spy shots reveal exterior details
Source Credit: Autocar India

The third-generation Mercedes CLA has been spied on a test, revealing important details about its exterior design. The updated sedan will retain its four-door format but will feature extensive styling changes.

Mercedes’ Pune facility doesn't meet environmental standards, alleges MPCB
Source Credit: Autocar India

The Maharashtra Pollution Control Board (MPCB) has alleged that Mercedes-Benz India is not in compliance with environmental standards at its manufacturing facility in Chakan, Pune. In response, the luxury carmaker stated that it has not received any formal notice from MPCB describing the claimed violations, but is ready to take any "corrective action" if required.

Tata Punch is India's bestselling car from January-July 2024
Source Credit: Autocar India

Tata Punch has emerged as the bestselling car in India in the January-July 2024 period, and it has managed to beat the Maruti Wagon R and Hyundai Creta that finished second and third, respectively. One of the reasons for the Punch's success could be its multiple powertrain options that include petrol, CNG and EV.

MG Gloster gets up to Rs 6 lakh off ahead of facelift launch
Source Credit: Autocar India

MG Motor India dealers are offering hefty discounts on its entire line-up this month, including Gloster, Hector, Astor, ZS EV and Comet EV. Read on to know how much you can save on a new MG.

Xiaomi SU7 showcased in India: 5 things to know
Source Credit: Autocar India

It can be said that Xiaomi has developed its first-ever car in record time. The Chinese smartphone manufacturer announced its plans to foray into the car market in March 2021, and the EV went on sale earlier this year. We recently had a chance to see the car in India, and here’s all you need to know.

Hyundai Alcazar facelift colour options revealed
Source Credit: Autocar India

Hyundai is gearing up to launch the Alcazar facelift on September 9, and it recently opened bookings for the new SUV for a token amount of Rs 25,000. The Alcazar facelift will remain mechanically unchanged but gets significant cosmetic upgrades inside out, including new colour options. Here are the details.

📰 International News

US industry seeks easing of steep Biden-Harris China tariff hikes
The Biden-Harris administration this week is expected to announce final implementation plans for steep tariff increases on certain Chinese imports, and if U.S. industry gets its way, many of the planned duties would be softened.

China's Didi in talks to sell smart auto assets to state-backed NavInfo's unit
China's Didi Global is in advanced talks to sell its smart driving and cockpit assets to state-backed digital mapping firm NavInfo's unit, as the ride-hailer focuses on its core business after a bruising regulatory crackdown, two sources said.

BMW overtakes Tesla in European EV sales for first time
BMW led the European battery electric vehicle (BEV) market for the first time, beating U.S. automaker Tesla, according to market research firm JATO Dynamics.

Australia's Pilbara Minerals' annual profit falls on weaker lithium prices
Australian lithium miner Pilbara Minerals reported an 86% drop in its annual profit, citing a lower average realised sales price for lithium, the key metal for manufacturing electric vehicle batteries.

Canada imposes a 100% tariff on imports of Chinese-made electric vehicles
Canada to impose 100% tariff on Chinese EVs, says PM Justin Trudeau

China’s Xpeng aims to manufacture EVs in Europe to blunt tariffs
Source Credit: Bloomberg, Hindustan Times

Xpeng also sees its expertise in artificial intelligence and advanced assisted driving features as helping it make inroads into Europe.

US agency to reexamine permit for Hyundai's $7.6 billion Georgia EV plant
Source Credit: Reuters, Hindustan Times

Hyundai's $7.6 billion electric vehicle plant in Georgia came under scrutiny after a conservation group complained that regulators failed to properly examine the sprawling factory's potential impacts on the area's water supply.

Parisians are choosing bikes over cars. Will New Yorkers do that, too?
This is going to make some New Yorkers mad, but we need to look at what Paris is doing with its streets.

📝 Fire at Rivian's Illinois plant damages multiple EVs, no injuries reported
📝 Inside the Tesla model Y Juniper: Latest spy shots reveal exciting changes
Read More >>

Automobile Industry

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