Search Results for: jinal-shah-moderate-ngv-india-summit

2023-08-21

Maruti Suzuki Plans India Market Expansion

INDIA REPORT
Aditya Kondejkar

Under Maruti’s 3.0 Strategy, the company proposes to expand annual capacity by 2 million units within nine years, and it plans to feature 28 distinct models by 2031. The automaker aims to reach an annual production volume of more than 4 million vehicles by 2031. Of this total, approximately 15% (about 600,000 units) will be electric vehicles (EVs), and about 1 million will be hybrid units.

This represents a substantial 75% surge from the current production capacity of 2.25 million units.

Foreseeing a threefold increase in export volume to 750,000 units by FY31, Maruti intends to allocate 3.2 million units for the domestic market. The company envisions hybrids and EVs comprising approximately 40% of this portion, translating to over 1.2 million units.

Read More»

2020-09-27

Regulatory Changes Could Boost India Auto Industry

India’s auto industry has slid back to the level of nearly a decade ago due to multiple regulatory changes, a slowing economy, liquidity issues, and the COVID-19 pandemic.

Aditya Kondejkar

The auto industry has shown signs of recovery over the last couple of months; however, an additional demand push is required to generate sustainable growth. The government is evaluating a series of possible measures such as a revision in the goods and services tax (GST) rate and a production-linked incentive and scrapage policy.

Read The Article

GST Revision: The GST council is evaluating an industry 10% GST cut across categories of vehicles.

This GST revision will defiantly neutralize the impact of the price hike due to BS-VI upgradation. Further, this GST revision will give a strong thrust to auto sales during the coming festive seasons. 

Read More»

2021-04-25

India Government Announces Scrappage Policy

Aditya Kondejkar

The central government in mid-April announced its long-awaited vehicle scrappage policy. Under the new policy, in case of failure to get a fitness certificate, commercial vehicles will be de-registered after 15 years. Private vehicles will be de-registered after 20 years if found unfit or in case of a failure to renew registration certificates

Read The Article

There are approximately 50 lakh vehicles in India that are older than 20 years, approximately 35 lakh vehicles older than 15 years, and approximately 15 lakh older than 15 years without renewed fitness certificate.

Read More»

2021-09-26

India EV Segment Gains Traction

Aditya Kondejkar

The EV segment in India is continuing to grow with additional government support. In July of this year, the government partially modified the Faster Adoption and Manufacturing of Electric Vehicles (FAME) in India Phase II. It has included an additional demand incentive for electric two-wheelers to ₹15,000 per KWh from an earlier uniform subsidy of ₹10,000 per KWh for all EVs, including plug-in hybrids and strong hybrids except buses.  

This decision will increase the subsidy for such vehicles by 50% under the FAME II scheme and be a game-changer in adopting EVs.

Such moves from the government will boost faster adoption of EVs. Furthermore, with this kind of solid support, OEMs will also take a step forward to accelerate the mass adoption of EV.

Read The Article

Read More»

2021-10-03

Second Wave of COVID-19 Hits India Commercial Vehicle Market

Motorindia-May_2021Download
Aditya Kondejkar

The second wave of COVID-19 has put the brakes on a rebound in India’s commercial vehicle market, reports Aditya Kondejkar, Power Systems Research Analyst for South Asia Operations, in the May 2021 issue of Motorindia magazine.

Kondejkar notes that the second wave of the pandemic has caused shortages of semiconductors and steel as well as weaker consumer demand. These forces have pushed commercial vehicle production down nearly 60% month-on-month (MoM) in April.

Kondejkar points out that the India CV market witnessed a strong performance in 2018 with more than 1.13 million
units produced, owing in large part to GST implementation and replacement demand. In 2019, however, the Indian CV market began shrinking as it faced headwinds from revised axle load norms, vehicle over-capacity, BS-VI transition, and a liquidity crunch.

Read More»

2023-07-26

OEMs Target India’s Premium MC Segment

INDIA REPORT
Aditya Kondejkar

The dominance of Royal Enfield in the mid-segment of the premium motorcycle market (300cc-500cc) could be facing challenges from upcoming products. The Triumph Speed 400, a result of a joint development effort between Triumph and Bajaj Auto, and the Harley-Davidson X440, developed through a collaboration between Hero MotoCorp and Harley Davidson, are set to compete in this market segment.

In response, Royal Enfield plans to introduce three new models in the 350-450cc range within the next year.

The Indian motorcycle market has witnessed a favorable trend towards high-end bikes. The phenomenon of premiumization has gained momentum due to increasing income levels, a growing young population, shifting preferences, and a surge in product launches.

Read More»

2019-10-01

Trouble in India’s Motown

This report first appeared in the September 2019 issue of PowerTALK.

The bad times in the India automobile market started with the slowdown in Q4 2018, triggered by the NBFC (Non-Banking Financial Companies) crisis. Since then it has been 10 consecutive months of hard times for almost all automobile segments. All the segments in the country, be it passenger cars or commercial vehicles, have registered a decline.

Read More»

2021-04-25

Uralmash Sets Deal of US$ 322 Million with India

Uralmash (a subsidiary of UZTM-Kartex) has signed its largest deal in the last 30 years. UZTM-Kartex and Coal India Ltd Binay Dayal have signed a contract totaling US$ 322 million for walking excavators, according to the company.

Under the contract, the Uralmash plant will deliver five electric-powered walking excavators of increased power – ESH24.95 and will perform assembly of the equipment on the customer’s site. The OEM also will service machines for 11 years.

Read The Article

PSR Analysis: ESH24.95 is an electric powered excavator with 24 cubic meter bucket and 95-meter jib. UZTM Kartex also makes diesel machines. Recently it has launched excavator with Cummins QSK-91 engine. PSR

Maxim Sakov is Market Consultant – Russia Operations for Power Systems Research

2021-06-27

Second Wave COVID Will Have Limited Impact on India Ag Sector

Aditya Kondejkar

“COVID-19 cases started spreading in the rural areas with the beginning of the month of May, and agriculture activity in the month of May is bare minimal, particularly land-based activities,” says Niti Aayog Member (Agriculture) Ramesh Chand.

Read The Article

PSR Analysis: The second wave of COVID-19 started spreading in the rural areas in May 2021, but agriculture activities in May are minimal, and are mainly land-based activities. Agri activities peak in March or the middle of April, after which it drops significantly and again peaks with the arrival of monsoon.

Read More»

2021-02-23

Union Budget 2021 Misses Mark for Autos

Aditya Kondejkar

The Union Budget 2021 is very important since it comes during an unprecedented pandemic. The most significant pain points of the economy are the lack of demand and liquidity. The shrinking market’s impact and the weak demand is evident after the Economic Survey said that the country would experience a current account surplus for the first time in 17 years.

The automotive industry is the key stakeholder of the country’s economy. It suffered extensive sluggishness in the past 10-12 quarters after introducing GST, the new safety norms, insurance regulations, axle, and emission norms. These led to a hefty increase in purchase costs. The industry was waiting for direct announcements to reduce purchase cost and improve customer sentiment

Read More»