Page 7 - Passenger Vehicles

Honda to launch new car every year till 2028 in Indian market

Kunal Behl, VP, Honda Cars India said that there are also plans to re-launch an SUV in the first half of the next fiscal year to ride on the booming segment in the country

Will bring out private vehicles scrapping policy: Union minister Choubey

Union Minister of State for Environment Ashwini Kumar Choubey on Sunday said the government has taken various steps to bring down pollution and will soon bring out a policy on the scrapping of private vehicles aged more than 15 years. He was addressing reporters at 'Meet the Press' in Nagpur. A policy is already in place for scrapping old government vehicles. Replying to a query on whether a similar policy will be brought for private vehicles older than 15 years, Choubey said, "A high-level joint meeting of the Ministry of Environment and nine other departments was held recently. The government is working on a policy to encourage private vehicles older than 15 years to go for scrapping after getting a (vehicle) health certificate. "The government will give a 25 per cent rebate on the purchase of new vehicles (to those) having the scrap certificates. Besides, new vehicles will be registered free," he added. Describing the proposed move as a "revolutionary step", the minister said .

Footfalls, enquiries hit speed-breaker at car dealerships, visits dip 8-10%

Slowdown began showing up in Jan, though there has been some improvement in March second half

Growth momentum in sale of passenger vehicles continues: Siam data

SIAM has said that BMW, Mercedes and Volvo Auto data is not available while Tata Motors data is only available for April-December

In the fast lane: At 335,269 units, car sales create a February record

At the retail level, too, the industry posted 9.6 per cent YoY growth

India's passenger vehicle sales to grow 9%-10% in 2024: Crisil Ratings

SUVs are expected to nearly double their share in overall domestic sales to roughly 55% in fiscal 2024 from about 28% in fiscal 2018

Tata Motors to hike prices of passenger vehicles by 1.2% from Feb

Tata Motors on Friday said it will increase prices of its internal combustion engine-powered passenger vehicle range by 1.2 per cent on a weighted average basis from February 1. The company has been absorbing a significant portion of the increased costs on account of regulatory changes and a rise in overall input costs, and is hence passing on some portion through this hike, the auto major said in a statement. Effective February 1, 2023, the weighted average increase will be 1.2 per cent, depending on the variant and model, it added. The company sells various models like Nexon, Harrier, Safari and Punch in the domestic market.

Maruti to roll out its first EV next fiscal, five more by FY30: Suzuki

EVs to constitute 15% of Maruti's total production by FY30

TMS Ep350: SUVs, Indo-Pak talks, green hydrogen stocks, Char Dham Yatra

Why have SUVs become India's car of choice? How should India react to Pak PM's call for talks? Which green hydrogen stocks should you keep an eye on? What is the Char Dham Yatra? All answers here

Maruti Suzuki hikes vehicle prices by 1.1% across models, 2nd rise in FY23

In December last year, the company had said it would hike prices of its vehicles to offset the impact of rising input costs

At 3.8 million units, PV sales rev up to highest ever in 2022: Siam

Data showed that passenger vehicle sales grew by 23 per cent in 2022 compared to the previous year to touch 3.79 million units

Wholesale passenger vehicle volume up on UV demand: Siam

However, FADA had warned that retail sales could be hit in the current quarter, with stricter fuel efficiency norms aimed at reducing carbon emissions set to come into effect from April this year

Hydrogen as a fuel is for commercial vehicles, says Shailesh Chandra

"Our focus is on bringing all kinds of body styles and products at different accessibility points from the lowest possible to the highly aspirational"

TMS Ep343: Joshimath, passenger vehicle, FMCG stocks, flight navigation

Is Joshimath paying the price for development? Can passenger vehicle sales keep the momentum in 2023? Will FMCG stocks reverse their underperformance? How do planes navigate in dense fog? Answers here

India overtakes Japan to take third spot among largest vehicle markets

According to Siam, 4.13 million vehicles - including passenger and commercial - were sold in the country between January and November 2022

Top carmakers post double-digit export growth with Maruti at the wheel

Clock 11% growth in the first 11 months of 2022

Domestic passenger vehicles sales up 23% to record of 3.79 mn units in 2022

Domestic passenger vehicles sales rose by 23 per cent to a record of 37.93 lakh units in 2022 led by the likes of Maruti Suzuki, Hyundai and Tata Motors as the companies rode on easing of pandemic related challenges and semiconductor shortages to cash in on pent up demand, specially for SUVs. Other manufacturers like Toyota Kirloskar Motor and Skoda India also reported record sales in 2022. "The industry wholesales in January to December 2022 were just short of 38 lakh units. It was 37.93 lakh units against 30.82 lakh in 2021, which is a growth of 23 per cent," Maruti Suzuki India Senior Executive Officer, Marketing & Sales Shashank Srivastava told reporters in a virtual conference. He further said the 2022 wholesales are "the highest ever in the industry for a calendar year" and the last highest was in 2018 which was 33.3 lakh units. "So, this is about 14 per cent higher than the highest ever," he added. On the reasons for the growth, Srivastava said, "I believe this resurgence .

Big duty cuts in India on parts and cars key demand of European players

Continent's manufacturers say they can't compete with manufacturers from FTA countries; also seek elimination of non-tariff barriers, long-term EV policy

Govt allows conversion of regular vehicle registrations into Bharat Series

The Ministry of Road Transport and Highways (MoRTH) has allowed the conversion of regular vehicle registrations into Bharat Series (BH) numbers as part of measures to widen the scope of the BH series ecosystem. Earlier, only new vehicles could opt for the BH series mark. In an official statement, the MoRTH said over the course of the implementation of BH series registration mark rules, several representations have been received towards strengthening the BH series ecosystem. "Vehicles currently having regular registration mark can also be converted to BH series registration mark, subject to payment of requisite tax, to facilitate persons who subsequently become eligible for BH series registration mark," the statement said. The ministry has also proposed an amendment in rule 48 to provide flexibility to submit an application for the BH series either at the place of residence or place of work with a view to providing further ease of life to the citizen. It also said that the Working

Irdai proposes 3 yrs insurance cover for cars, 5 yrs for two-wheelers

Regulator Irdai on Wednesday proposed to introduce an insurance cover of three years for cars and five years for two-wheelers with an aim to allow wider choice to customers. The Insurance Regulatory and Development Authority of India (Irdai) has floated a draft on 'Long-Term Motor Products covering both Motor Third Party Insurance and Own Damage Insurance'. The draft proposes to permit all general insurers to offer 3-year insurance policy in respect of private cars and 5-year for two-wheelers, co-terminus with motor third party liability cover. The premium for the entire term of the policy coverage would be collected at the time of sale of insurance. The pricing, as per the draft, would be based on sound actuarial principles, including claims experience, and long-term discount. "The pricing of add-on and optional covers may likewise consider the cost efficiencies of policy administration," said the draft, on which the Irdai has invited stakeholder comments by December 22. It also