During festivals. the rural customer has spent money on 2-wheelers or 4-wheelers: FADA President
“What is unique about two-wheelers is the kind of double-digit growth we see. I can confidently say that we will be seeing a growth of somewhere between 20% and 25% in the two-wheeler segment. That can only happen when the entry-level has delivered the requisite numbers. So, that is the good part.” Key Points
Economic TimesEV race of 2-wheelers has hurdles
Currently, TVS is leading the pack among listed two-wheeler manufacturers. Its EV, iQube, is present across 135 cities and it aims to widen the availability as well as launch new EVs. Key Points
mintTamil Nadu couple crushed to death as truck hits their two-wheeler from behind
A young couple was crushed to death after a truck hit their two wheeler from behind in Tamil Nadu's Salem. The video of the incident was recorded on CCTV camera. Key Points
India TodayHero MotoCorp gets Rs 605 cr demand notice from I-T Dept
The country’s largest two-wheeler maker Hero MotoCorp on Thursday said it had received demand notices from the Income Tax department for around Rs... Key Points
The Tribune IndiaBe cautious and protect your profit this leap year: Dipan Mehta
Dipan Mehta says: The best two-wheeler company in our opinion should still be Eicher Motors and we are a bit disappointed with their monthly numbers for the two-wheeler sales. It was well below our expectations but that could be a minor aberration. But in the medium to long term we do feel that Eicher Motors will be able to gain ground and grow on a consistent basis purely on account of its product profile, expansion of its distribution network and the huge export opportunity. Key Points
Economic Times
Small cars likely to stage a comeback by 2026 amid rising entry-level incomes, says Maruti Suzuki chairm
Maruti Suzuki chairman RC Bhargava anticipates a revival of small car sales by 2026, driven by rising income levels among entry-level consumers and the transition of scooter and motorcycle owners to cars. Despite a recent surge in SUV sales and a decline in small car demand, Bhargava believes that the affordability of small cars will become more manageable for buyers as their purchasing power increases. Key Points
Economic TimesTension in Jharkhand town as Class 9 girl dies after police bus hits 2-wheeler
Tension simmered in Jharkhand's Deoghar when a Class 9 girl died when the two-wheeler in which she was travelling was hit by a police bus. Locals vandalised the bus and police resorted to mild lathi charge. The driver was arrested. Key Points
India Todaytwo-wheeler sales remain in fast lane on strong demand
Forecasts of a normal monsoon, government spending on infrastructure projects and healthy procurement of wheat are expected to put more money in the hands of farmers and spur demand this year. The momentum is expected to continue in the coming months, driven by an uptick in customer sentiments, forecast of normal monsoon and a host of new launches in the premium segment, Hero MotoCorp said in a statement. Key Points
Economic TimesNiranjan Gupta takes over as Hero MotoCorp CEO
Niranjan Gupta has taken over as CEO of Hero MotoCorp. Earlier, he was chief financial officer (CFO), Head of Strategy and M&A, the two-wheeler maker said. Dr Pawan Munjal will continue as executive chairman, the company said. TNS Key Points
The Tribune IndiaBajaj Auto likely to retain momentum on bourses following rising bike demand
Bajaj Auto's stock has increased by 22.5% in 2023, with factors such as increased domestic two-wheeler demand, EV volume, launch of premium bikes with Triumph and a revival in overseas shipments supporting future earnings. In the previous fiscal year, the company's bike volume fell by 9%, but the share of domestic two-wheelers rose to 48.3% in Q1 2023 compared to 34.7% in the previous year. For the current fiscal year, the sector's two-wheeler volume is expected to grow by 10-12%, while Bajaj Auto's management expects 6-8% growth in the 125cc plus motorcycle segment. Key Points
Economic Times
ET Explainer: Why are two-wheeler sales picking up in rural markets when other categories are under stress
The two-wheeler industry in India has seen a decline in sales due to rising prices and the pandemic's economic impact. Sales of motorcycles, scooters, and mopeds fell nearly half to 13.58 million units in FY22. However, rural markets are showing signs of a turnaround, with moderating inflation and improved disposable incomes. Motorcycles continue to dominate two-wheeler sales in India, accounting for about 65% of the market. The growth in rural sales is driven by pen-up demand, moderating inflation, and a stable job market. Key Points
Economic TimesWheels are turning back: After two-wheelers lose a decade in India, will this year be different?
It has been a lost decade for two-wheelers in India with a sales CAGR of a little over 1%. Can this year be a turning point? The recent signs of recovery cannot change the fact that the past decade has been a lost one for the two-wheeler segment. The sales inched up from 13.79 million units in FY13 to 15.86 million units in FY23 — a CAGR of 1.4%, the lowest among all vehicle segments. Key Points
Economic TimesIndia's TVS Motor beats Q1 profit view on two-wheeler demand
India's TVS Motor (TVSM.NS) reported a bigger-than-expected rise in first-quarter profit on Monday, helped by strong demand for its two-wheelers, including its flagship electric scooter. Key Points
ReutersCompanies gear up to launch 20 new models of electric 2-wheelers
While electric two-wheeler sales peaked in May this year, crossing the 100,000 mark, the volume had plummeted to under 46,000 units in June. However, strong general interest towards turning electric, coupled with the still available (albeit reduced) subsidy, has helped July volumes to recover to 54,292 units. This is expected to help sales volume to reach 750,000-800,000 units in calendar year 2023. Key Points
Economic TimesWheels are skidding: Why India’s exports of two-wheelers and three-wheelers are falling
Two-wheeler exports fell to 34.06 lakh units in April 2022-February 2023 from 40.9 lakh in April 2021-February 2022, a 16% drop, according to the Society of Indian Automobile Manufacturers (SIAM). In the case of three-wheelers, exports fell to 3.46 lakh units in April 2022-February 2023 from 4.61 lakh units in April 2021-February 2022, a 24% decline. Key Points
Economic Times
March could see the electric bike rally swelling to a record
Vehicle registration count is a proxy for retail sales. It touched 111,964 units for electric two-wheelers on March 29 - the highest for any month - according to data from Vahan, the government's repository of all vehicle registrations in India. The previous monthly high was 105,389 units in May 2023, when consumers had brought forward their purchase plans to avoid paying more due to a reduction in government subsidy from June. Key Points
Economic TimesK-shaped recovery narrative flawed and baseless: SBI Research
The State Bank of India researchers stated that nearly half of India's consumption will be carried out by the lower-income segment, comprising 90% of the population, by the end of the next decade. This prediction highlights the country's progress in bridging the inequality gap and challenges the notion of a flawed K-shaped recovery. According to the researchers, the post-pandemic period witnessed a significant shift in consumption patterns, with an additional Rs 8.2 trillion of consumption now being directed towards the lower end of the economic pyramid. Key Points
Economic TimesHero MotoCorp, Eicher Motors among key Nifty gainers as markets scale new highs. Two wheeler sales remain in fast lane.
Stock Market Today- Hero MotoCorp, Eicher Motors were amongst top Nifty gainers and Bajaj Auto saw gains post strong November volume numbers, on a day when Nifty scaled all time highs. Commercial vehicles and Passenger Vehicle sales remained a mixed bag. Key Points
mintMan held in Pune, 12 laptops worth ₹6 lakh seized
A 22-year-old man has been arrested in Pune for stealing laptops and electronic gadgets worth ₹6.44 lakh from buildings near college hostels. The police recovered stolen items from his possession, including chargers, a camera, and a two-wheeler. The accused has a criminal record and has confessed to multiple thefts. Key Points
Hindustan TimesHero Motocorp to hike motorcycle, scooter prices by 1% from October 3
This is the second price hike announced by the automobile manufacturer within the past three months, as the company had raised the rate of select two-wheeler models by 1.5% in July. Key Points
mint
Hero Moto plans to ride premium wave
Chief executive officer Niranjan Gupta told ET that growing footprint in the premium two-wheeler segment is a priority for the company. Hero MotoCorp's Splendor and Passion dominate the country's entry-level motorcycles segment.A larger chunk of the about '1,000 crore the company has earmarked for spending annually will be used for designing premium and electric vehicles to strengthen the company's presence in these two categories, Gupta said. Key Points
Economic TimesIndia's Amara Raja Batteries to expand into two-wheeler market to power growth
India's Amara Raja Batteries (AMAR.NS) plans to expand into the two-wheeler electric vehicle (EV) market, first through chargers and then batteries, as part of an expansion to triple its lithium-ion business this financial year, a top executive said. Key Points
Reuterstwo-wheeler makers plan new launches in mid-size bike segment to challenge Royal Enfield's dominance
In July, Hero MotoCorp will introduce its first motorcycle developed in collaboration with Harley Davidson. It is slated to be among the most affordable products from the stable of the cult American bike maker. Also on the cards are the next generation KTM 390 Duke from the house of Bajaj, Aprilia RS 440, Yamaha MT-03 and YZF-R3. Key Points
Economic TimesComptroller & Auditor General lens on e-bike companies claim to FAME
The intent of the audit is to ascertain if the claims made were genuine, said a senior government official who did not want to be named. The automotive supply chain is complex. The CAG is auditing accounts submitted to establish whether the companies who had applied for the incentives under FAME II were violating specified localisation norms. Key Points
Economic TimesCaught on camera: Female professor dragged along road, robbed in broad daylight in Tamil Nadu
A 53-year-old female professor was hit on her head and dragged along the road in an unconscious state before being robbed in Tamil Nadu's Trichy. The attack was caught on camera and the accused has been arrested. Key Points
India Today