The government has approved incentive payments totaling ₹246 crore to Mahindra & Mahindra (M&M) and Tata Motors under the Production Linked Incentive (PLI) scheme for the auto industry, news agency PTI reported on January 2. The scheme, worth ₹25,938 crore, aims to boost domestic manufacturing of advanced automotive technologies. Heavy Industries Minister H D Kumaraswamy … Read more
New Delhi: The Indian auto components industry has experienced robust growth in the first half of FY25, with a notable 11.3 per cent increase in its market size, according to Automotive Component Manufacturers Association (ACMA) report. The industry, which was valued at USD 36.1 billion in H1 FY24, surged to USD 39.6 billion in H1 … Read more
Trucks are the automobile versions of long-distance runners. They carry a lone driver, tonnes of goods, solitude, a few songs and, sometimes, a colourful slogan near the tail lamp, “Has mat pagli pyar ho jayega (Don’t smile girl, I will fall in love with you).” But people seldom fell in love with a plain ol’ … Read more
New Delhi” Union Minister Nitin Gadkari on Tuesday asked representatives of the Society of Indian Automobile Manufacturers (SIAM) to look into ways of making ethanol and flex fuels more acceptable to the public. The Ministry of Road Transport and Highways (MoRTH), in a post on X said, Gadkari chaired a review meeting with representatives of … Read more
Sales of passenger vehicles fell for the first time in more than two years in July on a high base worsened by sluggish demand and inventory glut at dealerships. Two-wheelers however grew in double digits, and three wheelers in low single digits, helped by steady recovery in rural demand, on a low base. Passenger vehicles … Read more
New Delhi: In a relief to automakers, sales of entry-level twowheelers — mostly bought by rural consumers — rose in strong double digits in the second half of FY24, underscoring a recovery in demand in this key consumer segment for the first time since the pandemic. The trend continued in April, driven by an improvement … Read more
India’s rapidly growing auto market is poised to hit a milestone, with projections indicating it will reach USD 300 billion by 2026. This growth is fueled by various factors, including rising income levels, urbanization, and a burgeoning middle class with increasing purchasing power.In March 2024, the Indian auto industry produced a total of 2,325,959 units, … Read more
Mumbai: Sales of large utility vehicles such as SUVs and MPVs, which meet the government’s definition of ‘popular SUVs’, advanced at a faster clip of 27% in FY24 ahead of a 25% growth in the compact SUV segment, according to analysis of data compiled by the Society of Indian Automobile Manufacturers (Siam).While compact SUV models … Read more
Vehicle registrations – a proxy for retail sales – went up by a modest 3% last month to 2.13 million units due to subdued demand during the inauspicious period of holastak ahead of Holi, as per data collated by industry body Federation of Automobile Dealers Association (FADA). While passenger vehicle and commercial vehicle retails declined … Read more
Jaipur: Rapid growth in the highway network, along with an increase in the spending power of consumers, is pushing up sales of vehicles in India, German automaker Volkswagen’s executive director, international sales, Michael Mayer, told ET. The company, he said, is invested in bringing more premium vehicles to strengthen its presence in this market. India … Read more
