Page 2 - Two Wheeler

Mahindra & Mahindra gets Rs 56 lakh tax penalty, company to challenge

Mahindra & Mahindra Ltd on Thursday said it has been imposed a penalty of over Rs 56 lakh for wrongly carrying forward input service distributor credit available in pre-GST into GST regime with regards to its two-wheeler business. The company has received an order from the office of the Assistant Commissioner, Division-IV, CGST & Central Excise, Ahmedabad South imposing a penalty amounting to Rs 56,04,246 in relation to the two-wheeler business of Mahindra Two Wheelers Ltd (MTWL), which was demerged from MTWL and has since been merged with M&M, Mahindra & Mahindra said in a regulatory filing. "The order has been passed on the basis that closing balance of Input Service Distributor (ISD) credit available in pre-GST regime was wrongly carried forward into GST regime," it added. The company further said based on its assessment, an appeal will be filed and it is "hopeful of a favourable outcome at the appellate level and does not reasonably expect the said order to have ...

e2W registration: Share of top 4 races to 90% in Oct from 72% in January

In June, e2W registrations declined to 44,000 as companies increased the prices of their models

2W replacement tyre demand in rural market yet to see full revival: CEAT MD

Rural demand for two-wheeler tyres in the replacement segment is yet to see a complete revival but there is optimism that the festive season will give it a fillip, according to CEAT Ltd MD & CEO Arnab Banerjee. With crude prices rising again after the recent geopolitical disturbance, there is uncertainty over crude-based raw material costs and if prices increase it could be a dampener to future growth. "The two-wheeler replacement market is growing year-on-year in strong single digits, which is much much different from quarter one. However, we are yet to see a complete revival in rural demand," Banerjee told PTI. On the challenges in the rural market, he said while monsoon has been good in several parts of the country it was patchy and most of East and North East India didn't get good monsoon. Usually in Q2 demand dips in Q2 because of monsoon but it has not happened, he said adding, "So the market is in a similar state. It has not accelerated yet. Banerjee, however, said in the .

Battery of electric two-wheeler explodes while charging in Delhi's CR Park

The battery of an e-scooter exploded at a shop in south Delhi's CR Park area, police said on Wednesday. No one was injured in the incident, they said. Police said the shop owner was charging the two-wheeler battery when it exploded around 11.45 pm on Tuesday. They said the shop is owned by Raju Sahu, a resident of Kalkaji.

Boom Motors renamed to Bharat New-Energy Company, launches inhouse battery

The company is also working on a portable fast charger that can plug into a standard three-pin 16A socket and charge the battery in two hours

Not prudent to allow more than 2 persons on two-wheelers, says Centre

The Centre has made it clear that it was "not prudent" to allow a third person to travel on a two-wheeler as the same was prohibited under the law and motorcycles or scooters were universally designed to carry only two people. This was Union Transport Minister Nitin Gadkari's response to a plea by CPI(M) MP Elamaram Kareem requesting that children upto to the age of 10 years be allowed to travel as a third person on two-wheelers on following necessary safety measures, like wearing helmets. Denying the request, Gadkari in a letter dated May 31 has said, "...under the Central Motor Vehicles Act 1988, no driver of a two-wheeler can carry more than one person. "Therefore, from the safety angle of riders, it would not be prudent to allow more than one person in addition to the driver to be carried thereon." The Union Minister also said that every two-wheeler "is universally designed and constructed to carry one person in addition to the driver." This response comes even as the ruling L

Two-wheeler OEMs' revenue likely to rise 13-14% this fiscal: Crisil Ratings

Two-wheeler OEMs' revenue is likely to rise 13-14 per cent this fiscal despite modest volume growth, driven by increasing preference for executive and premium motorcycles that yield higher realisations, Crisil Ratings said on Tuesday. The two-wheeler original equipment makers (OEMs) topline had grown 19-20 per cent last fiscal, as per the credit ratings agency. Motorcycles above 110 cc fall under the executive and premium segment. Overall, two-wheeler sale volumes are expected to rise around 8 per cent year-on-year this fiscal to around 20.6 million units, driven by around 11 per cent growth in the domestic markets (81 per cent of overall volumes in fiscal 2023), it said. Exports, on the other hand, will remain impacted for the second year in a row due to economic challenges and continuing high inflation in key markets of Africa, Latin America, Bangladesh and Sri Lanka, Crisil Ratings said. While this would be the third straight year of volume growth (in two-wheelers), it would st

BMC announces ban on two-wheelers on Parel TT flyover from June 1

Two-wheelers and heavy vehicles, including public transport buses, will not be allowed to ply on Parel TT flyover in central Mumbai from June 1, the Brihanmumbai Municipal Corporation (BMC) announced on Monday. The BMC in a release said it has received a no objection certificate from the Mumbai traffic police to ban heavy vehicles on this decades old bridge on Dr Babasaheb Ambedkar Marg, which serves as one of the major corridors in the city. The civic body plans to install height barriers of 2.5 meters and hence, no heavy vehicles, including BEST buses, will be allowed to use the bridge from June 1, Ulhas Mahale, deputy municipal commissioner (Infrastructure) told PTI. The BMC has started filling potholes on the road to avoid inconvenience to citizens during monsoon. Heavy vehicles cause potholes on the road every year. Hence, the traffic police requested the BMC's bridge department to take measures to ban heavy vehicles on the flyover, the release stated. Citizens have, however,

Centre likely to discontinue second phase of Fame-II scheme after FY24

Instead of the Fame-II scheme, the benefits may be given through the production-linked incentive (PLI) scheme

Matter's electric bike to be priced between Rs 1.43 lakh and Rs 1.54 lakh

Ahmedabad-based Matter will be competing with players such as Ola Electric and Ultraviolette in the electric motorbike segment

Kinetic to start producing electric version of Luna at Ahmednagar plant

Company set ups dedicated production line with an initial capacity of 5,000 sets per month

Two-wheeler sales extend recovery; Hero MotoCorp posts 15.5% growth

This is the eighth consecutive month of increase in sales in the world's largest market for scooters and motorcycles

Motorcycle permits now costlier than new, entry-level bikes in Singapore

The cost of a 10-year motorcycle permit in the city-state hit a record S$12,801 ($8,984) this month according to data from the Land Transport Authority

All new Vespa GTS unveiled: 300 HPE engine, 14 new colours and more

The updates to the Vespa GTS include a mild facelift, a new front suspension and a new 300 HPE engine

Honda surpasses Hero MotoCorp to top spot in two-wheeler sales

Rural states, such as Uttar Pradesh (UP), Bihar, and Jharkhand, have fallen higher in September on a MoM basis

Hero Moto ties up with HPCL to set up electric two-wheeler charging infra

Hero MotoCorp on Tuesday said it has joined hands with Hindustan Petroleum Corporation Ltd to set up charging infrastructure for electric two-wheelers in the country. As a part of the initiative, the two companies will first establish charging infrastructure at Hindustan Petroleum Corporation's (HPCL) existing network of stations, with the likelihood of subsequently broadening the collaboration for supplementary business opportunities. In the first phase, the charging stations will be set up in select cities, which will then be expanded to other key markets with the aim of establishing a high density of EV charging station network across the country, Hero MotoCorp said in a statement. The two-wheeler major will lead the infrastructure development for the charging network with each charging station featuring multiple fast chargers, including DC and AC chargers that will be available to all two-wheeled EVs, it added. The entire user charging experience will be controlled by a Hero ..

How to scrap an old car: Here're RTO rules for scrapping, deregistration

Nitin Gadkari says people opting for scrapping should get a discount on new vehicles

Two-wheeler maker Eicher Motors joins Rs 1-trn market capitalisation club

Eicher Motors also holds majority stakes in the commercial vehicle joint venture with Volvo - VE Commercial Vehicles

EV adoption to disrupt automobile industry in a decade, says report

Indians likely to prefer electric two- and three-wheelers than bigger vehicles

Hyundai, Royal Enfield improved the most in dealer satisfaction study: FADA

The overall dealer satisfaction index improved from 657 points last year to 719 points this year, the study noted