Popular vehicles and Services IPO opens tomorrow. 10 things to know before subscribing to the issue
Popular vehicles & Services IPO aims to raise around Rs 602 crore. The company, with diversified automobile dealerships, caters to the complete vehicle ownership life cycle and had a strong financial performance in FY23. Key Points
Economic TimesHigh-end EVs to cost more in Karnataka as govt to levy additional tax
Karnataka government introduces a 10% lifetime tax on high-end electric vehicles to control the rise of luxury EVs. It is estimated that by 2030, Bengaluru alone will have 23 lakh electric vehicles compared to the current 80,000 in circulation. Key Points
Economic TimesA play on economic growth and transformation: 7 auto stocks from different segments with upside potential
Unlike the US and some other western countries, where a separate transportation index is watched very closely, in India we don't have a very popular transportation index. The reason why transportation index numbers are extremely important is because there is enough historical evidence to show that auto industry numbers lead indicators of what is happening in the economy. If one looks at the history of the stock market, the rallies which are led by the transportation and auto sector are more durable rallies. Especially the ones which are led by large commercial vehicles. The reason, sales of LCV and certain other auto segments is an indication of the economic situation on the ground. Demand for large commercial vehicles would only increase when there is higher economic growth as more goods get moved from one place to another when the economy is doing well. Key Points
Economic TimesA spectacular bridge that few use
MTHL, a new addition to Mumbai's landscape, had over 30,000 vehicles daily in its first 10 days, with toll revenue of ₹61.5 million. However, actual usage in the first month was less than 40% of its projected capacity of 70,000 vehicles daily. Key Points
mintElections to hit CV demand in Q4
India Business News: Learn how the upcoming general elections in India will affect the demand for commercial vehicles in the fourth quarter. Find out the expected impact and the potential recovery after the elections. Key Points
Times Of India
Indian luxury car buyers move from diesel to electric
Diesel vehicle sales in the luxury segment have plummeted, while electric vehicle adoption by the wealthy has surged. Diesel's share of luxury vehicle sales dropped to 35% in 2020 from 80% in 2018, as electric vehicles accounted for 6% of the market. Affluent buyers, who can install charging points at home or work, are driving demand for luxury EVs. Car makers like BMW, Audi, and Mercedes are surprised by the strong demand for EVs in a country with limited charging infrastructure. As diesel sales decline, luxury carmakers are focusing on petrol and electric vehicles. Key Points
Economic TimesTesla to recall 200,000 vehicles in US to fix rearview glitch: NHTSA
Tesla is recalling around 200,000 Model S, X, and Y vehicles in the U.S. due to a software malfunction that could affect drivers' visibility while reversing. This comes after a recent recall to update Autopilot safeguards. Tesla has released a software update to address the issue. Key Points
Economic TimesOnly zero-emission cars can help tackle air pollution, reduce oil imports: Tata Motors
Tata Motors Passenger vehicles Managing Director Shailesh Chandra stated that only zero-emission cars can contribute towards reducing air pollution, cutting fuel imports, and achieving net zero targets. He emphasized that hybrid cars do not align with these objectives, as they run on polluting fossil fuel and cannot be compared to pure electric vehicles (EVs). Key Points
Economic TimesGovt may offer incentives to retrofit old vehicles into EVs: Report
A report by Primus Partners and ETB suggests that the Indian government could consider offering incentives to retrofit old vehicles into electric ones instead of scrapping them. The report suggests that a coordinated approach involving government initiatives, industry collaboration, and public engagement could effectively address the challenges of transitioning to electric vehicles. Key Points
Economic TimesCars Are Getting Bigger. Can Smarter Software Make Them Safer?
Cars have gotten much bigger in recent years, alarming road safety experts. The chief engineer at Chrysler’s owner Stellantis says the solution is offering drivers more choice and smarter software. Key Points
WIRED
NHAI bans entry of slow-moving vehicles on high-speed corridors running via Delhi
The movement of high speed vehicles may pose risk to the safety of certain classes of comparatively slow moving vehicles e.g. two wheelers, three wheelers and other slow moving vehicles like non motorized vehicles, agricultural tractors (with or without trailers) due to their vulnerability and associated speed differentials and compromise the road safety aspects, it said in its notification. Key Points
Economic TimesTHIS Indian city has most number of private cars, and it's not Delhi!
Delhi's number of registered private cars has declined by 38.8% since March 31, 2021, standing at 20.7 lakh units in 2023. Key Points
mintBudget 2024: What the government can do to charge up India's EV sector
India's EV segment achieved a historic milestone in 2023, crossing 1.5-million-unit sales with 50% YoY growth. However, EV penetration remains low due to range anxiety, high prices, and inadequate charging infrastructure. Dr Waman Parkhi, Partner and Head of Automotive Sector (Tax), KPMG in India, explains what India needs to boost the electric vehicle sector. Key Points
Economic TimesIndia trade department backs lower tax on hybrid cars in green push: Sources
India's combined sales and additional taxes on hybrid vehicles sales are as high as 43%, based on the size of the car, compared with the highest rate of 50% imposed on petrol and diesel cars. India taxes electric vehicles (EVs) at just 5%. The move could boost the prospects in India of Japan's Toyota Motor, the world's largest carmaker, which has been lobbying for months for lower taxes for hybrid cars, arguing such vehicles are far less polluting than petrol cars. Key Points
Economic TimesTata Motors global wholesales up 9 pc in Q3
Tata Motors global wholesales, including that of Jaguar Land Rover went up by 9 per cent year-on-year to 3,38,177 units in the December quarter. Global wholesales of Tata Motors' commercial vehicles and Tata Daewoo range in October-December period of FY24 were at 98,679 units, up 1 per cent over third quarter of FY23, the company said in a regulatory filing. Key Points
Economic Times
Two pollution tests must for vehicles with flex fuel option
All bi-fuel vehicles with flex fuel option will have to undergo tests for both gaseous pollutants as well as particulate mass and number when seeking vehicle type approval under BS VI emission norms. However, hydrogen-run vehicles will have to undergo tests only for emissions of nitrogen oxide, the ministry of road transport and highways said in a notification on applicability of test requirements for type approvals. Key Points
Economic TimesPiyush Goyal asks auto industry to raise share of vehicles exports to 50% from 14% now
Commerce and industry minister Piyush Goyal has urged the automobile industry to increase its export share to 50% of all passenger vehicles produced in India by 2030. The move is based on the country's labor arbitrage and skilled manpower pool. The Bharat Mobility Global Expo 2024, India's first global mobility expo, will feature over 600 exhibitors from over 50 countries, showcasing cutting-edge technologies and breakthroughs in mobility. Key Points
Economic TimesAs Robotaxis Hit City Streets, Local Officials Often Have Little Power Over Them
Autonomous vehicles are operating—and getting into crashes—in US cities. But state laws in Texas, California, Arizona, and other places prevent local governments from regulating the technology. Key Points
WIREDCar buyers in NCR shunning old vehicles to embrace greener options
Replacement demand for vehicles in the NCR has shot up by 30%, outpacing a 22% increase reported countrywide, they said. This has come along with a marked shift away from diesel to more environment-friendly options like CNG, electric and strong hybrid vehicles. The share of diesel in new car sales in the NCR declined to 5.8% this fiscal year from 7.5% in FY23 and 8.8% in FY22. CNG, once used mostly in buses and taxis, now accounts for 20.7% of new vehicle sales. Key Points
Economic TimesTurkish gang's luxury cars worth £3m seized by police, given a new use
Ali Yerlikaya, Minister of Interior of Turkey, shared a video of the seized cars on X. He also informed about the new purpose of these vehicles. | Trending Key Points
Hindustan Times
Cars Are Getting Bigger. Can Smarter Software Make Them Safer?
Cars have gotten much bigger in recent years, alarming road safety experts. The chief engineer at Chrysler’s owner Stellantis says the solution is offering drivers more choice and smarter software. Key Points
WIREDArmy vehicles attacked by terrorists in Jammu & Kashmir, 3 jawans injured
Firing was reported in the upper reaches of Jammu and Kashmir's Poonch district on Thursday, according to sources. Two Army vehicles were attacked by terrorists in the district. Key Points
India TodayTata Motors to hike price of commercial vehicles by up to 3% from Jan 1, 2024
Indian automaker Tata Motors plans to increase commercial vehicle prices by up to 3% from January 1, 2024, to offset the impact of past input costs. The hike will apply to the entire range of commercial vehicles, including popular models like Tata Ace, Tata Intra, and Tata Winger. Tata Motors reported a 1.73 per cent decline in global sales in November 2023, with total domestic sales at 72,647 units. Key Points
Economic TimesIndian Automobile Dealers Association reports record vehicle retail sales in November 2023
New Delhi [India], December 6 (ANI): The Federation of Automobile Dealers Associations (FADA) has unveiled the Vehicle Retail Data for November 2023, marking a historic achievement for the Indian Auto Retail Industry. According to a press release, the month witnessed the sale of 28.54 lakh vehicles, surpassing the previous high of March 2020, which sold […] Key Points
ThePrintUK's new car sales up 9.5% in November as fleets snap up latest vehicles
International Business News: New car sales in Britain grew 9.5% YoY in November, nearing pre-pandemic levels as fleets invested in the latest vehicles. The Society of Motor Manufa Key Points
Times Of India
Commercial vehicles set for heavy-duty FY24 sales, revenue expected to rise 30%
Sales of heavy duty trucks that can carry more freight has grown in healthy double digits - by 15% in the first seven months of the year, said Vinod Aggarwal, president of the Society of Indian Automobile Manufacturers (SIAM) and VE Commercial vehicles (VECV) chief executive officer and managing director. VECV is a joint venture between the Volvo Group and Eicher Motors. Key Points
Economic TimesUS transport chief aims to ensure Cruise, other self-driving vehicles safe
By David Shepardson WASHINGTON (Reuters) -U.S. Transportation Secretary Pete Buttigieg said on Monday the federal government will do everything it can using existing regulatory powers to ensure that Key Points
ThePrintButtigieg vows to 'do everything we can' to ensure Cruise, other self-driving vehicles safe
WASHINGTON (Reuters) - U.S. Transportation Secretary Pete Buttigieg said Monday the federal government will do "everything we can" using existing regulatory powers to ensure General Motors robotaxi Key Points
ThePrintUK seeks customs duty concessions on EVs in FTA with India
Total EV sales in India stood at around 10 lakh units in 2022. The UK has sought customs duty concessions on exports of electric vehicles to India under the proposed free trade agreement (FTA), which is under negotiations, an official said. Key Points
The Tribune IndiaTall trucks and SUVs increase pedestrian fatality risk by 45%: Study shows
Trucks and SUVs with taller hoods pose a greater risk of causing fatalities in pedestrian crashes compared to vehicles with sloped hoods, according to a study by the Insurance Institute for Highway Safety. The study analyzed data from nearly 18,000 crashes and found that vehicles with tall, squared-up hoods, such as the Ford Super Duty pickup and the Cadillac Escalade, are particularly associated with these risks. Key Points
Economic Times
vehicles to soon drive around with 'shields' to fend off cyberattacks
The Ministry of Road Transport and Highways (MoRTH) has put forth a proposal for uniform Cyber Security and Management Systems (CSMS) provisions, specifically targeting certain categories of four-wheelers, encompassing both passenger and commercial vehicles. The objective is to fortify these vehicles against potential cyber threats that could compromise their functions. Key Points
Economic TimesDelhi odd-even rule for cars back from November 13 . Five things you need to know
With Delhi's pollution levels set to worsen further after Diwali, the Arvind Kejriwal government has announced the return of the odd-even car scheme from November 13 to 20. A decision to extend this scheme will be made later. The vehicle restriction scheme allows cars to ply on alternate days depending on their odd or even license plate numbers. Odd-numbered plates will be permitted on odd dates, while even-numbered plates will operate on even dates. Notably, the scheme, initially introduced in 2016 to combat vehicular pollution, was enforced in 2017 and 2019 as well. Key Points
Economic TimesWeak October car sales threaten inventory pile-up, warns Indian dealers' body
India's retail vehicle sales fell 7.7% from a year earlier in October, a dealers' body said on Monday, adding that a build-up of inventory of passenger vehicles (PV) was a cause for concern. Key Points
ReutersOdd-even rule & EVs are Swiss cheese in combatting pollution. Hybrid vehicles are key
If cleaning the air by reducing overall fuel consumption is the goal, the govt ought to look at hybrid vehicles. It's not 'yesterday's technology' anymore. Key Points
ThePrintDelhi Air Pollution: 340 buses impounded, 162 four-wheelers fined for violating GRAP III restrictions
At present, only BS VI emission standards-compliant light motor vehicles, electric vehicles, CNG vehicles are allowed to ply on the roads. So far, 301 overloaded trucks have been impounded while 3,683 vehicle owners were challaned for not having pollution under check. Key Points
Firstpost
Vehicle scrapping facilities: How they could emerge as a critical component of India’s automotive industry
The government has so far approved 72 such registered vehicle scrapping facilities, or RVSFs, across 16 states and Union Territories. Of these, 34 are in Uttar Pradesh alone, six in Haryana and five each in Gujarat, Bihar and Madhya Pradesh. Only 38 of the facilities are currently operational though. Maruti Suzuki, Tata Motors and Mahindra and Mahindra, the countrys top three passenger vehicle OEMs (original equipment manufacturers) contributing about 65% of domestic sales annually, have set up scrapping facilities at multiple locations. Key Points
Economic TimesMaruti Suzuki gets set to triple overseas sales in 7 years
Maruti Suzuki, India's largest carmaker, plans to triple its overseas sales by 2030 and aims to become a global manufacturing hub for automobiles. The company intends to increase its share of new energy vehicles in its export basket and is optimistic about surpassing previous year's export volumes. Key Points
Economic TimesTata Motors global wholesales rise 7 pc to 3.42 lakh units in Sept qtr
Global wholesales of Tata Motors' commercial vehicles and Tata Daewoo range in the July-September quarter of FY24 were at 1,06,620 units, up 3 per cent over Q2FY23, the company said in a statement. However, the company's global sales of all passenger vehicles, including electrical vehicles, were at 1,38,939 units, lower by 3 per cent year-on-year. Global wholesales for Jaguar Land Rover were 29 per cent higher at 96,817 units. Key Points
Economic TimesEV maker Rivian beats Q3 delivery estimates after raising production
Electric-vehicle maker Rivian Automotive (RIVN.O) on Monday reported third-quarter deliveries above analysts' estimates, as it ramped up production to meet a sustained demand for its pickup trucks and sport-utility vehicles (SUVs). Key Points
ReutersAround 10 vehicles stolen daily in Gurgaon. Here are the areas where criminals are most active
In Gurgaon, an average of 10 vehicles are stolen every day, with only a small percentage of cases being resolved by the police. Out of the 2,478 reported motor vehicle thefts in the first eight months of this year, only 286 cases have been solved. The low resolution rate is attributed to the quick transportation of stolen vehicles out of the state, inadequate surveillance infrastructure, and sophisticated techniques employed by criminals. Key Points
Economic Times
Powering the Future: The Silent Revolution Behind Electric Vehicles
The evolution of electrical and electronic architectures in electric vehicles (EVs) is at the heart of the transformation from internal combustion engines (ICEs) to EVs. The EV market is growing rapidly, with predictions of sales increasing up to six times by 2030. The intricate network of electronic control units, power electronics, and electrical and electronic architectures is the game changer in EV technology. Key Points
Economic TimesManipur: Blockade of vital National Highway continues, hits supplies in tribal areas
A police officer in Imphal confirmed that movement of vehicles along NH-37 with essential items have been ensured. Strict security measures have been taken in all vulnerable locations and security convoy has been provided in the sensitive stretches in order to ensure free and safe movement of vehicles, the officer said. Due to the blockade on the NH-2, the supply of essential items and food grains were affected in many parts of the tribal-dominated areas. Key Points
Economic TimesUkraine's Unseen Army: The mechanics who keep the tanks rolling
A battered worker's van whizzed back and forth along a village road near the front line in southern Ukraine, searching. It screeched to a halt, and three men unloaded heavy equipment and disappeared into the undergrowth. Key Points
Economic TimesAuctioning of khatara cars fetches BMC ₹4.23 crore
The BMC in Mumbai has auctioned 4,533 abandoned vehicles to scrap dealers, earning ₹4.23 crore. The vehicles were melted, recycled, and sold as scrap. The auction process has been changed to speed up the process, with pictures of abandoned vehicles being uploaded to an eAuction portal. After a notice is issued, the vehicles are towed to scrapyards and depots. The entire process takes three months, and the vehicles are auctioned to make space for other abandoned vehicles. There have been no cases of luxury cars being abandoned. | Mumbai news Key Points
Hindustan TimesKolkata tops India with 2,448 cars per km; Most roads cross vehicle-carrying capacity
Kolkata has the highest vehicular density among all Indian metros, with 2,448 vehicles per km of road. The average trip times within the city have doubled in the last five years, attributed to the surge in personal vehicles and decline in public transportation, particularly during the pandemic. Kolkata has approximately 45.3 lakh vehicles traversing 1,850 km of road space and requires six-lane roads to accommodate the current influx of vehicles. Key Points
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Toyota's global sales rise 5.1% to 4.9 mln in first half of 2023
Japanese automaker Toyota Motor (7203.T) said on Friday it sold 5.1% more vehicles in the first half of 2023 compared with the same period a year earlier, helped by an easing of semiconductor supply constraints and especially stronger demand in Japan. Key Points
ReutersBengaluru-Mysuru Expressway: Six categories of vehicles banned from next month
Bengaluru-Mysuru Expressway was opened to traffic in March 2023. In five months, more than 300 road accidents have been reported on the highway. NHAI had constituted a committee of road safety experts to carry out safety inspections. Key Points
Economic TimesUS government agencies target purchasing 9,500 EVs in 2023
U.S. government agencies are targeting buying 9,500 electric vehicles in the 2023 budget year, but face supply issues and higher costs, a federal report said on Wednesday. Key Points
ReutersEV Sales Hit a Record in the US. Now Their Popularity May Be Waning
US drivers are on track to buy a record 1 million electric vehicles in 2023. But stocks of unsold EVs are now growing, suggesting the rush of early adopters is fading. Key Points
WIREDExtreme flood alert issued in Delhi as water level in Yamuna continues to rise
An extreme flood alert has been issued in Delhi as the water level in the Yamuna continues to rise and was recorded at 208.38m at 5 am on Thursday. Key Points
The Tribune India/cloudfront-us-east-2.images.arcpublishing.com/reuters/XZE6ARD7DNKZDDMDDJ7F42AC44.jpg)
US to decide on GM request to deploy self-driving cars
U.S. regulators will soon decide on a petition filed by General Motors' (GM.N) Cruise self-driving technology unit seeking permission to deploy up to 2,500 self-driving vehicles annually without human controls, a top auto safety official said on Wednesday. Key Points
ReutersMaruti expects hybrid and CNG sales to match diesel's glory days
In the ongoing fiscal itself, Maruti Suzuki is looking at selling up to 450,000 CNG vehicles, up from 328,000 units sold in FY23. The company additionally has introduced two strong hybrid vehicles in its portfolio - the Grand Vitara and the Invicto - as alternates for consumers at the more premium end of the market. Combined sales of CNG and strong hybrid vehicles at the company stood at around 111,000 units last quarter. Key Points
Economic TimesElectric cab aggregators on expansion, hiring spree
Evera, an EV cab aggregator that currently operates in the National Capital Region, plans to expand its fleet of electric cabs about ten times by the end of 2023, from 238 now to around 2,200 vehicles. It has partnered with Chinese electric vehicle maker BYD for 100 units of the all-new e6 vehicles, cofounder and chief executive Nimish Trivedi said. Key Points
Economic TimesEVs are duping you about carbon emissions. Govt should let diesel cars run longer
We shouldn't treat the automotive industry like fast fashion. Although carmakers agree that emissions are a problem, manufacturing vehicles is a major problem too. Key Points
ThePrintEV vs other cars: Are electric vehicles still worth the cost?
There isnt much of a resale market for EVs in India now. If you want to sell your car after a few years, you will not get many buyers, forcing you to sell at a low rate. Key Points
Economic Times