Ola Electric today announced that it recorded 30,219 registrations in December and captured a 40% market share in the EV 2w segment (as per VAHAN Portal). The company clocked its highest ever monthly registrations during the month and posted a year-on-year (Y-o-Y) growth of 74% compared to the same month last year. Additionally, it posted… Continue reading Ola Electric records over 30,000 registrations in December
Author: Autocar_Professional India Online News
Tata Motors records best-ever annual sales in CY2023: 550,838 PVs, 12.55% EVs
Tata Motors has registered its best-ever annual wholesales performance yet in CY2023: 550,838 units. This constitutes a 3% increase over the 526,798 units it sold in CY2022 and marks the second consecutive year that it has surpassed the half-a-million passenger vehicle sales milestone. The company, which retails seven PVs – Altroz, Tigor, Tiago, Nexon, Punch,… Continue reading Tata Motors records best-ever annual sales in CY2023: 550,838 PVs, 12.55% EVs
Maruti Suzuki December 2023 despatches down by 6.5% in a stock-correction move
Maruti Suzuki India (MSIL) reported sales of 104,778 units in December 2023, registering a 6.5 percent Year-on-Year (YoY) decline over December 2022’s volume of 112,010 units. The company’s entry-level Alto and S-Presso models continued to be distressed, with volumes plummeting to a mere 2,557 units (December 2022: 9,765), and registered a YoY de-growth of almost… Continue reading Maruti Suzuki December 2023 despatches down by 6.5% in a stock-correction move
Maruti Suzuki sells 1.7 million vehicles in CY2023, SUVs and MPVs record 68% growth
India’s passenger vehicle market leader has sold a total of 17,07,668 units in the domestic market CY2023, which makes for 8.35% year-on-year growth (CY2022: 15,76,025 units). This India total, when added with sales of 35,012 units of the Super Carry LCV, sales to other OEM (Toyota Kirloskar Motor / 54,493 units) and highest-ever annual exports… Continue reading Maruti Suzuki sells 1.7 million vehicles in CY2023, SUVs and MPVs record 68% growth
JK Tyre raises Rs 500 crore via Qualified Institutional Placement
JK Tyre & Industries Limited has raised Rs 500 crore by way of a Qualified Institutional Placement (QIP). The QIP funds will be used for growth capex and strengthening the balance sheet. The Qualified Institutional Placement was priced at Rs 345 per share, (including a premium of Rs 343 per share, with a face value… Continue reading JK Tyre raises Rs 500 crore via Qualified Institutional Placement
Toyota Kirloskar Motor registers best-ever annual sales in CY2023: 221,356 units
Toyota Kirloskar Motor (TKM) has reported domestic market sales of 221,356 units, up 38% YoY (CY2022: 160,364 units). This is the car and SUV manufacturer’s best-ever annual sales performance. The company’s strong performance has been helped by the enhanced production capacity through three-shift operations, which has enabled TKM to meet sustained market demand for its passenger… Continue reading Toyota Kirloskar Motor registers best-ever annual sales in CY2023: 221,356 units
MG Motor India sells 56,902 units in CY2023, EVs account for 25 percent sales
MG Motor India has announced its retail sales figure for calendar year 2023: 56,902 units. This constitutes an 18% year-on-year increase (CY2022: 48,064 units) and marks the fourth consecutive year of growth for the company. The company, which retails the Astor, Gloster, Hector 5-seater, Hector Plus SUVs and two EVs – the ZS EV and… Continue reading MG Motor India sells 56,902 units in CY2023, EVs account for 25 percent sales
The Leasing Solution: Battery leasing could solve problem of increased EV costs after subsidy withdrawal
Makers of electric scooters are now coming up with newer ways of helping customers finance their vehicles. Some OEMs are now selling electric scooters to buyers with the batteries leased separately. As per this system, individuals have the option to pay the upfront cost of the vehicle, while the battery cost can be distributed and… Continue reading The Leasing Solution: Battery leasing could solve problem of increased EV costs after subsidy withdrawal
The Leasing Solution: Battery leasing could solve problem of increased EV costs after subsidy withdrawal
Makers of electric scooters are now coming up with newer ways of helping customers finance their vehicles. Some OEMs are now selling electric scooters to buyers with the batteries leased separately. As per this system, individuals have the option to pay the upfront cost of the vehicle, while the battery cost can be distributed and… Continue reading The Leasing Solution: Battery leasing could solve problem of increased EV costs after subsidy withdrawal
EV share of auto sales in India grows to over 6% percent in CY2023
The Indian automobile industry, which consists of two- and three-wheelers, passenger vehicles (cars, utility vehicles and vans), and commercial vehicles, has had a good outing in CY2023. As per Vahan retail sales data on December 31, 2023 (10pm), India Auto Inc registered total sales of 2,39,15,336 units, up 11% on CY2022’s 2,15,70,424 units but this… Continue reading EV share of auto sales in India grows to over 6% percent in CY2023