Search Results for: india-may-report

2020-02-25

New India Budget Disappoints Auto Industry

This article initially appeared in the February 2020 issue of PowerTALK News.

Source: Business Today   Read The Article

Ritvik Kulkarni
Ritvik Kulkarni

PSR Analysis: The Indian Automotive Industry was largely left disappointed with the budget after no direct steps were taken to arrest the decline in automotive sales. Although keeping long term benefits in mind, the budget did introduce measures to boost the rural economy, which in turn will directly benefit the commercial vehicle industry which is an important driver for the economy.

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2020-09-27

Belaz Wins Tender To Sell 96 Mining Trucks To India

The world’s leading mining trucks OEM – Belaz – has won the opportunity to supply 96 mining trucks to India, taking the prize from US and Japanese manufacturers.

Maxim Sakov
Maxim Sakov

They are heavy 220-ton mining trucks. The supply will take two years. Twelve trucks will be shipped to India this year, and the rest will be sent in 2021. The total contract value exceeds US$ 300 million. Belaz also is completing a previous large contract with India for 77 trucks.

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PSR Analysis: Historically, Belarussian Belaz has supplied most of its trucks to Russian mines. However, this year it has suffered a dramatic decrease in demand from Russia. So, the OEM has had to shift its focus to other markets. Its product range includes dump trucks from 30 to 450 ton capacity, wheel loaders and dozers. OEM uses YAMZ, Cummins, MTU, Scania and Liebherr engines for its machines.   PSR

Maxim Sakov is a Market Consultant in Russia, for Power Systems Research

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.

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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.

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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.

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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. 

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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

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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.

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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.

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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.

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2019-08-26

MotorIndia Magazine: India CV Market Facing Lower Demand in 2019


Indian-CV-Industry-Motorindia-August 2019Download

The India CV market is facing lower demand in 2019, reports MotorIndia magazine in its August 2019 Market Outlook issue.

CV Link is a comprehensive database updated quarterly that covers the CV market.

After a blockbuster growth in 2017 and 2018, writes Shah, growth that was largely driven by demand for tipper trucks due to the new infrastructure, mining projects and fleet replacement; the party ended in Q4 of 2018.

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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.

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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