Passenger vehicle sales in India fall for second straight month in August
Source Credit: Sharmistha Mukherjee, The Economic Times
Sales of passenger vehicles in the local market fell for the second straight month in August, on a high base, and with carmakers curtailing dealer dispatches to rationalise record-high inventory levels.
According to data available work industry body Society of Indian Automobile Manufacturers (SIAM), 352,921 cars, sedans and utility vehicles were dispatched from factories to dealers last month, which is a decline of 1.8% over 359,228 vehicles sold in August 2023.
Preparing to utilise Chennai manufacturing plant for exports: Ford
The announcement follows a meeting between Ford leadership and Tamil Nadu Chief Minister MK Stalin as part of his visit to the United States, Ford said in a statement. "This step aims to underscore our ongoing commitment to India as we intend to leverage the manufacturing expertise available in Tamil Nadu to serve new global markets," Ford International Markets Group President Kay Hart said. Ford said the strategic move will see the facility repurposed to focus on manufacturing for export to global markets, as part of the company's ambitious 'Ford+ growth plan'. It, however, said further information about the type of manufacturing and other details will be disclosed in due course.
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🚗 Cars / SUVs
Volkswagen subcompact SUV teased in Brazil— based on Skoda Kylaq
Volkswagen is set to unveil a new subcompact SUV in Brazil soon which was recently teased a couple of days ago. The SUV will be manufactured in Brazil and exported to other South American markets. It is expected to make its debut sometime later this month.
Kia opens pre-launch bookings for new Carnival Limousine from September 16; features revealed
Kia India will start taking pre-launch bookings for its new Kia Carnival Limousine from September 16, 2024. Customers can reserve their preferred model by paying a booking amount of INR 2 lakh either at Kia dealerships across India or from 12 AM on the official Kia website.
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Electric-Cars / SUVs
📝 MG Windsor EV: Variants-wise features explained
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🚗 Luxury Cars
Lexus NX 350h Overtrail: Hy Street
This is the Lexus NX 350h Overtrail, a premium SUV that’s now ready for a little more adventure than in its standard iteration. With a hybrid power plant — a Lexus speciality — it’s also substantially different from the sea of premium SUVs in the country which largely depend on conventional forms of propulsion. It also brings to the table unmatched levels of refinement, craftsmanship, and of course, unique to this model, a more rugged appearance. We find out if all that is enough to lure you away from the more popular choices on the market.
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⛟ Commercial Vehicles
Ashok Leyland aims to touch one million students by 2030 with ‘Road to School’ project
New Delhi: Ashok Leyland’s Road to School (RTS) programme has won businessline’s Changemaker award in the Chairperson’s Award category, which has been introduced this year. The firm’s initiative was first conceived to address poor learning outcome in government primary schools in the remote districts of Tamil Nadu. Starting with 36 schools in Krishnagiri district, the RTS programme has now expanded to 2,400 schools impacting 2,30,000-plus students across five States – Tamil Nadu, Karnataka, Jammu & Kashmir, Uttar Pradesh and Assam.
Ashok Leyland launches Mini Expo in Bhubaneswar showcasing advanced MHCV innovations
Ashok Leyland Limited, the flagship company of the Hinduja Group and a leading commercial vehicle manufacturer in India, has launched a 'Mini Expo' in Bhubaneswar to showcase its latest Medium and Heavy Commercial Vehicle (MHCV) innovations. Bhubaneswar is among 11 exclusive locations across India chosen for this expo, which reflects the company’s commitment to innovation and customer engagement.
E-bus drive set for boost, but delay in tendering poses challenge
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🎤 Interviews & Features
Tata Punch facelift on cards, details leaked
Tata Punch is one of the highest-selling passenger cars in India consistently ranking in the top five list of cars in the monthly sales with over 15,000 units sold every month on an average. The fact that it is an SUV (or called an SUV) that too one of the most affordable ones, makes it a hot buy for buyers looking for an affordable and small SUV.
Kumar Rakesh on why he is not worried about Tata Motors; 2 auto stocks to bet on
Kumar Rakesh, Associate Director –Equity Research, BNP Paribas, says Maruti Suzuki is the top sectoral pick from long-term perspective. Given that valuations are really low relative to its history, there is a potential to see an outperformance from the company. In two-wheeler stocks, we are concerned about the second half when the base starts becoming tougher for the industry,. Ashok Leyland is BNP Paribas’ cyclical pick in heavy commercial vehicle segment.
Would you buy a car without an engine? Battery as a Service
This week, JSW MG Motor India launched the Windsor EV,and with it a new car pricing methodology called Battery as a Service (BaaS). The Windsor EV is priced Rs. 9.99 lakh, but it's the price of only the body shell, not the battery. The battery costs Rs. 3.5/km. The more you drive, the more you pay, and the less you drive, the less you pay.
The full Monte
The official website for the World Rally Championship, WRC.com, describes Rallye Monte Carlo as the ‘most unpredictable rally of the year’, but its history goes a fair bit beyond that. It was, after all, held way before anyone had coined a whole championship for rallies. The year was 1911 and the organisers were looking to make the most of the lull during winter, to attract more people to Monte Carlo. They probably had no idea they were effectively making an entry into the history books with a rally that would become one of the most revered with fans and participants flocking from all parts of the globe to experience it.
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🏗 Construction & Agri Machinery
Domestic tractor sales report a y-o-y dip and sequential decline in August
Chennai: The domestic tractor industry witnessed a year-on-year and month-on-month decline in August 2024, while exports showed steady improvement on a monthly basis. Total domestic tractor volume stood at 50,134 units in August 2024, down 6 per cent from 53,249 units in August 2023. When compared with July 2024’s volume of 59,529 units, last month’s sales fell by 16 per cent, according to data from the Tractor & Mechanization Association.
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🏍 2/3 Wheelers
Yamaha launches R15M with Carbon Fibre Pattern in India at INR 2.08 lakh
Yamaha Motor India today announced the launch of the Yamaha R15 M with new carbon fibre pattern graphics. The bike is priced at INR 2.08 lakh (ex-showroom) and interested customers can purchase the new bike across Yamaha Blue Square Showrooms. The company has also launched the upgraded R15M in Metallic Grey at INR 1.98 lakh (Ex-showroom, Delhi).
New Hero Destini 125 vs TVS Jupiter 110 — Spec check
The new Hero Destini 125 is a family-focused scooter with a retro style. While it has many competitors in the segment, one of the key competitors is from a segment below, the TVS Jupiter 110. Just like the Destini, the Jupiter has had a major makeover and takes on a rather futuristic approach compared to the Destini.
Scooter Review: All-New Hero Destini 125: It takes a Hero to write a Destini
Hero is anything but a hero in the 100-125 cc scooter segment. In FY24, it was at the fourth place, with 7.1% market share (it sold 380,648 scooters in a total segment of 5,349,052 units). In April-August FY25, this share dropped to just 4.8% (123,076 scooters, of the total 2,554,406 units sold). The all-new Destini 125, how-ever, has the potential to change that, and turn Hero into its name-sake. I rode it in the most scooter-friendly place in India, Goa.
Royal Enfield’s Art of Motorcycling is back with Season 4
After successfully completing last three seasons of Art of Motorcycling, Royal Enfield is back with season 4, a platform for artists, designers and creative enthusiasts to showcase their passion and celebrate the motorcycling way of life. The season this year plans to expand globally in countries such as Thailand, Indonesia, Australia, New Zealand, South Korea, Japan, Malaysia, Brazil, Argentina, Colombia and Mexico.
📝 Yamaha New R15 M launched: Here are price, engine, colours, specs details
📝 Hero raises ₹8.6 crore with ‘The Centennial ’ auction. Customers can now win one
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🚲 Electric 2/3 Wheelers
Revolt Motors teases new premium electric motorcycle launch this September: What’s coming?
Revolt Motors is reportedly all geared up to introduce a brand-new electric motorcycle on September 17, 2024, further expanding its lineup.
Warivo forays into high-speed e-scooter segment, eyes INR 120 crore topline in FY25
Electric two-wheeler startup Warivo Motor India is looking to nearly double its topline to around INR 120 crore this fiscal on the back of its entry into high-speed electric-scooter segment, according to top company officials. The company, which has been present in low-speed (top speed of up to 25 kmph) so far, on Friday launched its high-speed scooter CRX with price starting at INR 79,999 (ex-showroom).
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⚙ Components
ZF Rane opens a new inflator plant and sled test facility
The new inflator facility will help enhance local content in Airbags, according to a statement. “By boosting local manufacturing capabilities, we are better positioned to meet the growing demands of the market while strengthening our ‘Make in India’ efforts,” said Harish Lakshman, Chairman, Rane Group and Managing Director, ZF Rane Automotive India Pvt. Ltd.
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🌇 Allied Industries
ZF Lifetec opens GCC in Hyderabad with EUR 5 million investment; looks to expand global R&D footprint
ZF Lifetec, a key player in passive vehicle safety technologies, has inaugurated its new Global Capability Center in Hyderabad, marking a significant step towards the company's expansion and innovation. With an investment of 5 million euros (USD 5.5 million), the facility is set to drive advancements in passive safety technology both in India and globally, bolstering the company’s strategy to address the growing demand for solutions in vehicle occupant protection.
Continental reaches key milestones in production of safety components in India
Technology company Continental has achieved significant production milestones in India, reaching ten million units of Electronic Brake Systems (EBS) and one hundred million Wheel Speed Sensors (WSS) at its Gurgaon plant. These components are crucial for vehicle safety, and the achievement underscores Continental’s commitment to enhancing road safety and promoting local manufacturing.
India’s 20GWh battery capacity yet to take off due to China's visa issues
New Delhi: The setting up of about one-fifth of India’s upcoming lithium-ion battery manufacturing capacity has skidded to a halt, after business visas were denied to Chinese technicians essential for the projects, two people aware of the development said.
Semi-Conductor Laboratory to offer fab support to chip design startups
India’s first chip fabrication unit Semi-Conductor Laboratory (SCL), Mohali, is set to offer end-to-end support, including fabrication, testing, and packaging, to chip design startups in the country. This assumes significance as currently fabless startups have to tap global foundries to get even limited samples of chips before actual production can start. This not only incurs huge costs but also limits their ability to do failure analysis, testing and identify any challenges in manufacturing or assembly first hand.
Steel Min draws up INR 23.52 lakh cr Steel decarbonisation plan
India will need to invest USD 283 billion (approximately INR 23.52 lakh crore) for decarbonising existing local steel production. This along with tapping Energy Efficiency Revolving Funds (EERF) and defining what should be ‘green steel’ are parts of a comprehensive decarbonisation strategy devised by the Union Steel Ministry.
Ceat eyes Rs 17,000 crore topline in 3 years, to increase TBR share to 12-13%
CEAT, a leading tyre manufacturer, aims to increase its domestic market share to 12-13% and reach a topline of
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💸 Finance & Insurance
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📖 Magazines News
Yamaha R15M gets carbon fibre graphics, launched at Rs 2.08 lakh
Yamaha has rolled out an update for the R15M that brings a new colour option with carbon fibre graphics, along with new features. The updated R15M in metallic grey continues to cost Rs 1.98 lakh, while the new colour scheme called ‘Icon Performance’ with carbon fibre graphics is priced at Rs 2.08 lakh.
Volkswagen A0 compact SUV teased ahead of global debut
Volkswagen has teased an all-new compact SUV that will sit below the Taigun globally. This new SUV will debut next year and Brazil will be one of the first markets where it will be sold.
Tata Punch facelift launch soon, details revealed
The Tata Punch recently became India’s best selling car and to continue its sales momentum, Tata Motors will soon introduce the facelifted Punch in the market. Sources tell us that the launch of the Punch facelift has been brought forward by some months, as the brand had previously said it was only due by mid-2025. Here’s a look at what all will be new on the Tata Punch facelift.
New Kia Carnival bookings to open from September 16
Kia India will start officially accepting bookings for the new Carnival MPV from September 16 for a token amount of Rs 2 lakh. The fourth-generation Carnival is slated to go on sale on October 3. Dealer level unofficial bookings have already been underway for a few weeks now.
Ford confirms restart of manufacturing in India
Ford Motor Company has just announced that it has submitted a Letter of Intent to the Tamil Nadu Government, thereby confirming its intentions of restarting manufacturing operations in India. This comes after officials from Ford Motor Company had multiple meetings with the Tamil Nadu government to discuss feasibility plans of reviving its Chennai plant.
Mercedes EQS SUV India launch confirmed for September 16
Closely following the launch of the Mercedes-Maybach EQS SUV, the company has now announced that it will also launch the regular EQS SUV in India on September 16. This will be the brand’s sixth EV in its lineup, and will be positioned between the EQE and Maybach EQS SUVs.
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📰 International News
Volvo Trucks delays start of construction for battery plant in Mexico
Sweden's Volvo , a global leader in electric trucks, said it would delay the construction start of its planned battery plant in Monterrey in northern Mexico.
German carmakers most exposed to Chinese counter-tariffs
Retaliatory tariffs by China to the European Commission's proposed additional duties of up to 38.1% on Chinese-made electric vehicles could spell trouble for European carmakers.
Struggling Northvolt stokes fear for Europe's battery future
Northvolt's shock decision this week to shrink its operations and cut jobs has sparked fears that Europe's best shot at a home-grown electric vehicle battery champion may stall, sector experts and people familiar with the situation told Reuters.
IEA cuts 2024 oil demand growth forecast on China slowdown
Global oil demand will rise less than previously thought this year, led by weakness in China, the International Energy Agency (IEA) said on Thursday, bolstering its view that consumption is heading towards a plateau this decade.
Ford Pro CEO, who made commercial vehicles more profitable, to retire
Ford Motor said on Thursday head of its highly profitable commercial vehicle business unit, Ted Cannis, would retire at the end of the month after more than 35 years with the Detroit automaker.
Firestone remains Indycar's tire supplier under Bridgestone and Penske deal
Firestone will continue as the only tire supplier for all IndyCar racing under a long-term extension between Bridgestone America and Penske Entertainment.
📝 Stellantis pauses production of electric Fiat 500 due to poor demand
📝 US House passes bill targeting China that would limit EV tax credits
📝 GM in talks to buy EV batteries built with Chinese tech in US, says source
📝 China's commerce minister to visit EU to discuss tariffs on EVs
📝 Hyundai and GM announce partnership to build cars together
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