Key Points
Mumbai: More than two dozen new car models will be unveiled or go on sale in 2024 as automakers ride on the momentum of the past two years and launch new battery-run vehicles as part of the transition to electric..
New launches typically add 8-10% of total volume growth for automakers, potentially translating into 250,000-300,000 units of incremental volume, taking the domestic aggregate to a record 4.3-4.4 million units next year..
India's passenger vehicle market, valued at 4.5 lakh crore, has been outpacing volume growth and the trend is likely to continue with the spate of new models led by EVs, which enjoy a superior realisation..
In addition to internal combustion engine (ICE) driven sport utility vehicles (SUVs), the top five carmakers by sales will introduce at least one electric car model each in the next 12 to 16 months..
Continuing with the pace of new model launches in 2022 and 2023, market leader Maruti Suzuki India will introduce the new generation Swift, showcased at the Tokyo Mobility Show earlier this year, and a new Dzire..
You might be interested in
Setback for Tesla: Govt says there's no proposal to provide subsidy on import duty on EVs into India
13, Dec, 23Minister of State for Commerce and Industry Som Parkash said this while replying to a question whether it is a fact that the govt has a proposal under consideration to exempt Tesla and other multinational car companies from local value addition of cost in heavy batteries, semiconductors and even magnetic parts and also subsidy on the import duty on the import of electric vehicles in India.
‘Heavy truck market likely to hit 2018-19 peak this fiscal year’
20, Nov, 23India Business News: CHENNAI: The heavy duty truck market will likely hit the 2018-19 peak of just under three lakh units per annum by the end of this financial year, said.
Maruti Suzuki gets set to triple overseas sales in 7 years
11, Oct, 23Maruti 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.
Maruti Suzuki presses the pedal harder by announcing 10 lakh unit capacity expansion
26, Apr, 23Maruti has over 40% market share in the passenger vehicles (PV) segment. In 2022-23, Maruti sold a total of 1.96 million vehicle.
Tesla execs press for duty cut in meet with govt officials
28, Jul, 23People aware of the matter, seeking anonymity, said that the representatives held meetings with Piyush Goyal, the commerce and industry minister, to discuss the incentives and benefits for selling its electric cars in India.
Kia India introduces new variant of Seltos
05, Jul, 23South Korean automaker Kia plans to launch three new models, including two electric vehicles in India by 2025. The company, which on Tuesday unveiled the updated version of its flagship SUV Seltos, has set a target of garnering 10% market share in the India passenger vehicles market in the near futu
Indians’ electric love to power EV sales to a record
24, Mar, 24The sales surge would be propelled by falling battery prices and resultant product price cuts by some automakers, robust government support for eco-friendly vehicles, higher prices of fossil fuels and growing environmental awareness among consumers. Launch of new models by automakers is also helping attract new buyers into this segment. This years sales performance would mark a 67% jump from the 60,910 electric PVs sold in FY23.
Renault to focus on bigger vehicles, new launches
14, Jun, 23India Business News: CHENNAI: French auto major Renault is planning to introduce a slew of big vehicles in the more-than-4-meter segment including an electric vehicle and .
Kia guns for 17% of India’s EV car market
15, Dec, 23The South Korean carmaker expects the market for passenger vehicles in India to reach just over 5 million units by 2030, out of which 20% is expected to be EVs
Yeh dil maange more: Companies now focus on ‘all things premium’
06, Aug, 23The number of car models available in the sub Rs 10 lakh category more than halved to 27 in the June quarter from 57 in FY19. Models priced over Rs 10 lakh almost doubled to 50. Of the half a dozen or so passenger vehicles unveiled this fiscal year, only the Maruti Suzuki Fronx and the Hyundai Exter have variants priced below Rs 10 lakh. The Maruti Suzuki Jimny and the new Kia Seltos as well as the forthcoming Citroen C3 Aircross and the Honda Elevate are all tagged upward of Rs 10 lakh.