As expected, Diwali has come early for India Passenger Vehicle Inc. Combined wholesale numbers of 14 manufacturers for October 2023 have totalled a staggering 391,147 units, only a few thousand units shy of the 400,000-unit mark. Not only does this big number constitute strong 16% year-on-year growth (October 2022: 336,428) on a high year-ago base… Continue reading Car and SUV makers capture festive demand, October sales soar to record 391,000 units
Author: Autocar_Professional India Online News
Hero MotoCorp’s Pawan Munjal volunteers to take 20% salary cut
Dr. Pawan Munjal, Executive Chairman and whole time Director of Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, has volunteered to reduce his fixed salary by 20%. The updated remuneration of the Executive Chairman will be effective 1 January, 2024. Earlier this year, Dr. Munjal decided to separate the roles of Chairman and… Continue reading Hero MotoCorp’s Pawan Munjal volunteers to take 20% salary cut
Murugappa family comes to agreement, to withdraw legal proceedings
The Murugappa family on Wednesday announced that its members have taken undertaken the necessary actions to effect the family arrangement, the terms of which had been recorded by way of a memorandum on August 20, 2023. With this, the family arrangement with the family branch of late M V Murugappan is now effective. In the upcoming… Continue reading Murugappa family comes to agreement, to withdraw legal proceedings
Royal Enfield sees 2.67 percent Y-o-Y growth in October 2023
Royal Enfield has recorded a marginal 2.67 percent year-on-year (Y-o-Y) increase in its sales at 84,435 motorcycles in October 2023 as against 82,235 motorcycles sold during the same period in the previous financial year. Sharing the October results B Govindarajan, CEO, Royal Enfield said, “With the recently launched Bullet 350 seeing an encouraging response, we are soon getting ready to… Continue reading Royal Enfield sees 2.67 percent Y-o-Y growth in October 2023
Hero MotoCorp’s net profit zooms by 47 percent for quarter ended September 2023
Despite a 1 percent year-on-year drop in total sales to 14.17 lakh units in the September quarter, Hero MotoCorp outperformed the market by posting a 47 percent increase in net profit at Rs 1,054 crore, compared to a profit of Rs 716 crore in the same period last year. Hero MotoCorp’s overall net margins increased… Continue reading Hero MotoCorp’s net profit zooms by 47 percent for quarter ended September 2023
JK Tyre to invest Rs 1,025 crore over two years for capacity expansion
JK Tyre & Industries, a leading tyre manufacturer for the auto sector, is looking to invest Rs 1,025 crore over as part of its capacity expansion plan. In a regulatory filing, the company stated that its Board of Directors of JK Tyre & Industries on Wednesday approved the expansion for the enhancement of tyre manufacturing… Continue reading JK Tyre to invest Rs 1,025 crore over two years for capacity expansion
HMSI domestic sales up 9% to 4,62,747 units in October 2023
While the company recorded 9% growth in the domestic market with 4,62,747 units, the exports grew by 29% to 30,137 units in October 2023. Honda Motorcycle and Scooter India (HMSI) Wednesday announced its sales numbers for October 2023. Registering a growth of 10% over October 2022, HIMSI sold a total of 4,92,884 units in the… Continue reading HMSI domestic sales up 9% to 4,62,747 units in October 2023
HMSI domestic sales up 9% to 4,62,747 units in October 2023
While the company recorded 9% growth in the domestic market with 4,62,747 units, the exports grew by 29% to 30,137 units in October 2023. Honda Motorcycle and Scooter India (HMSI) Wednesday announced its sales numbers for October 2023. Registering a growth of 10% over October 2022, HIMSI sold a total of 4,92,884 units in the… Continue reading HMSI domestic sales up 9% to 4,62,747 units in October 2023
‘Hit from Back’ accidents account for 19.5% of road accident fatalities, Govt report reveals
The Ministry of Road Transport and Highways, in its latest report on road accidents, has revealed that the highest number of accidents resulting in fatalities were caused by the ‘Hit from Back’ category, accounting for 19.5 percent of all accident-related deaths. This was closely followed by ‘Hit and Run’ accidents, which accounted for 18.1 percent… Continue reading ‘Hit from Back’ accidents account for 19.5% of road accident fatalities, Govt report reveals
‘Hit from Back’ accidents account for 19.5% of road accident fatalities, Govt report reveals
The Ministry of Road Transport and Highways, in its latest report on road accidents, has revealed that the highest number of accidents resulting in fatalities were caused by the ‘Hit from Back’ category, accounting for 19.5 percent of all accident-related deaths. This was closely followed by ‘Hit and Run’ accidents, which accounted for 18.1 percent… Continue reading ‘Hit from Back’ accidents account for 19.5% of road accident fatalities, Govt report reveals