"Over the years, the price of the cars have been going up. Now the price has gone up so much that people are not able to afford cars, so the growth of the industry has come down to zero. To further increase the cost, especially when the income of people has not grown during the COVID period, the industry will further go down," Maruti Suzuki chairman RC Bhargava stated.
›M&M to invest Rs 17,000 crore in three years, Q4 net muted due to SsangYong related write-offs
M&M to invest Rs 17,000 crore in three years, Q4 net muted due to SsangYong related write-offs
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M&M to invest Rs 17,000 crore in three years, Q4 net muted due to SsangYong related write-offsBy
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Synopsis
Of the Rs 17,000 crore, Rs 6,000 crore will be allocated to the automotive business, Rs 3,000 crore for the farm equipment business and Rs 3,000 crore for the electric vehicle business. This investment will mainly go into the development of new products and capacity expansion.
Agencies
The balance Rs 5000 crore for equity investment into other group companies.
The two models now come with a BSVI compliant engine which churns out 208 HP of power. The Streetfighter V4 embodies the spirit of a mean beastly super naked, that is loaded with performance to back it up, Ducati India Managing Director Bipul Chandra said in a statement.
The all-new Streetfighter V4.
The motorcycle was much awaited by enthusiasts and Ducati fans alike, he added. We are excited that it is finally available in India for everyone to experience, Chandra noted.The company said that bookings were open across all Ducati dealerships in Delhi – NCR, Mumbai, Pune, Ahmedabad, Hyderabad, Bengaluru, Kochi, Kolkata, and Chennai and deliveries will begin as soon as lockdown restrictions are lifted.
EVs need regulatory charge
India must put its electric vehicle transition plans in high gear
Soon after US President Joe Biden took office, he passed an order for an all-electric federal vehicle fleet. Since then, leading auto manufacturers including Ford, General Motors, and Jaguar have announced ambitious targets to sell only zero-emission vehicles in the coming years. Late last year, the UK and China announced bans on selling petrol and diesel cars from 2030 and 2035 onwards respectively.
While India, too, has signalled strong electric vehicle (EV) ambitions, bold policies and announcements from domestic automakers are awaited. India cannot afford to miss the EV revolution given that its automotive sector is one of the largest contributors to national GDP. Recent research by the Council on Energy, Environment and Water (CEEW) also finds that 30 per cent EV sales in 2030 could result in ₹1-lakh crore of oil savings, 1.2 lakh new jobs, and 16 MtCO2 reductions in GHG emission
Two-wheeler market leader Hero MotoCorp on Thursday said its total sales stood at 5,76,957 units in March 2021. The company had sold 3,34,647 units in March last year, when sales were adversely impacted due to the impending transition to BS-VI from April 2020, in addition to the nationwide lockdown towards the latter half of the month due to coronavirus pandemic , Hero MotoCorp said in a statement. In financial year 2021, the auto industry witnessed significant disruptions triggered by the coronavirus pandemic, restricting customer movement. Despite these challenges, Hero MotoCorp sold 57,91,539 units of two-wheelers in the fiscal year. In the financial year 2020 it had sold a total of 64,09,719 units, it added.