Rural India continued to demonstrate its market strength in October 2024, posting growth in key two-wheeler and passenger vehicle categories, despite the festival season traditionally driving stronger urban sales. The latest data from the Federation of Automobile Dealers Associations (FADA) also reveals interesting shifts in the urban-rural dynamics of India’s auto retail market. In October,… Continue reading Retail Auto Sales: Urban market under pressure, rural holding up
Category: US Motoring Press
Auto dealers cautious despite strong October sales; warn about year-end discount war
Despite a stellar 32% jump in October festival season sales, Indian automobile dealers are bracing for challenging months ahead. According to the latest Federation of Automobile Dealers Associations (FADA) member survey, only 37.15% of dealers expect growth in November 2024, while 39.69% anticipate flat sales, and 23.16% forecast a decline. The cautious outlook comes as… Continue reading Auto dealers cautious despite strong October sales; warn about year-end discount war
Tessolve to acquire Dream Chip Technologies for up to ₹400 crore
Tessolve, a Hero Electronix venture and a leader in semiconductor engineering, has signed a definitive agreement to acquire Dream Chip Technologies, a semiconductor chip design firm headquartered in Germany, for around ₹400 Crore (EUR 42.5 million). This acquisition, which is subject to regulatory approvals, will bolster Tessolve’s presence in the global semiconductor sector, particularly in… Continue reading Tessolve to acquire Dream Chip Technologies for up to ₹400 crore
Retail auto sales surge 32% in October 2024 on festive season high
The Indian automotive sector witnessed a remarkable surge in retail sales during October 2024, with overall vehicle sales jumping 32% year-over-year, driven by the convergence of major festivals and strong rural demand. According to data released by the Federation of Automobile Dealers Associations (FADA), total vehicle retail sales reached 28,32,944 units in October 2024, compared… Continue reading Retail auto sales surge 32% in October 2024 on festive season high
EXCLUSIVE: Sharad Agarwal steps down as head of Lamborghini India, joins Classic Legends as CBO
Sharad Agarwal has stepped down as the head of Lamborghini India. Sources say that he has joined Classic Legends as its Chief Business Officer. Agarwal has assumed his new role this week and will report to the CEO Ashish Joshi. Agarwal who started his career with TVS Motor Company is seen as a turnaround specialist and has… Continue reading EXCLUSIVE: Sharad Agarwal steps down as head of Lamborghini India, joins Classic Legends as CBO
Solid-state batteries may yet catch up — but silicon anodes are winning the race to power EVs
A Wallbox EV charger for electric car is displayed during the “Mondial de l’Auto” at Parc des Expositions on October 15, 2024 in Paris, France. Chesnot | Getty Images News | Getty Images Silicon anodes appear to be leading the way in the race to commercialize next-generation battery technologies for electric vehicles. The buzz around… Continue reading Solid-state batteries may yet catch up — but silicon anodes are winning the race to power EVs
Chinese driver-assist startup announces $100 million in funding, touts ‘deep cooperation’ with Nvidia
A car with autonomous driving system by Alibaba-backed DeepRoute.ai, drives on a street in Shenzhen, Guangdong province, China July 27, 2022. David Kirton | Reuters BEIJING — Deeproute.ai, a Chinese startup developing autonomous driving systems, announced a $100 million funding round Tuesday from an undisclosed automaker, while emphasizing close ties with chipmaker Nvidia. Pitchbook data… Continue reading Chinese driver-assist startup announces $100 million in funding, touts ‘deep cooperation’ with Nvidia
Entry into EV next big chapter for Royal Enfield, says Siddhartha Lal
Eicher Motors-owned mid-size premium motorcycle maker Royal Enfield has unveiled its new electric vehicle brand Flying Flea with plans to launch two electric motorcycles by early 2026. Siddhartha Lal, the managing director of Eicher Motors, said Flying Flea is the next big chapter in Royal Enfield’s future journey. “This is the next chapter in the… Continue reading Entry into EV next big chapter for Royal Enfield, says Siddhartha Lal
Hero MotoCorp to start UK, Europe operations in 2025 with Vida Z
Setting eyes on global business and electric mobility, India’s largest two-wheeler maker, Hero MotoCorp today announced plans to expand its operations to the United Kingdom and Europe with the Vida brand in the second half of 2025. “We will very soon launch operations in the UK and across Europe, led by our electric vehicle brand Vida.… Continue reading Hero MotoCorp to start UK, Europe operations in 2025 with Vida Z
New Aston Martin boss outlines plans for profitability
Aston Martin is aiming for record annual sales of around 8000 a year as part of new boss Adrian Hallmark’s plan to return the persistently loss-making company to profit. Hallmark, formerly boss of Bentley, told investors he’d undergone “60 days of intense learning” since joining the company at the start of September. His first move… Continue reading New Aston Martin boss outlines plans for profitability