"With the festive season now over in India, the rating agency expects wholesale billings to moderate in the next couple of months, given that the inventory at dealer level for passenger vehicles (PVs) and two-wheelers is already at higher than the 21 days recommended by Federation of Automobile Dealers Association (FADA)," Ind-Ra said.
Automakers will need to build a connected car strategy that contains a differentiated customer experience at its core backed by technological innovation and data insights to cater to the new-age digital consumer, the consultancy firm said in its latest automotive report.
According to a report by ET, Automobili Lamborghini and Ducati unveiled on November 26 the Ducati Diavel 1260 Lamborghini motorcycle. This limited and numbered edition of 630 motorcycles are to celebrate the cooperation between the two Italian organisations and to attract both motorcyclists and collectors from all over the world, a company statement said.
In a letter to chief secretary TM Vijay Bhaskar, association president BC Prabhakar has expressed concerns over the possibility of the strike spreading to other industries as well. “We request you to take immediate steps to declare curfew around the premises of TKM, Bidadi, and take stringent action including arrest of troublemakers and also bar them from entering the Bidadi area,” the letter said.
After recording the highest ever dispatches in October, the industry is likely to close November with the highest ever dispatches for the 11th month of the year at 2.80-2.85 lakh units, witnessing a growth of 8-9%. Moreover, retail sales are expected to be even better at over 3.1 lakh units - further trimming the inventory in the system to less than one month.
Citing global experience of countries like China, Japan and South Korea, where there has been a spike in demand of personal vehicles when the countries re-opened after the COVID-19 induced restrictions, he exuded confidence that the conventional automotive industry has a bright future.
In fiscal 2020, the first year of its operation in India, the company produced more than 100,000 vehicles and posted revenue of Rs 10,838 crore, when the domestic market delivered its worst performance in a decade.
The change has been proposed in line with the practice of nomination while opening a bank account, or health insurance policy. “It is generally a long-drawn process if the vehicle is in the name of a single person, a family member has to prove that they are the legal heir if they want the vehicle to be transferred to their name,” a transport ministry official told ET.
Wholesales in November are expected to rise year-on-year for all segments, excluding the medium and heavy commercial vehicle(M&HCV) segment, which are expected to grow at 19.6 per cent for two-wheelers on a low base and 12.6 per cent for passenger vehicles due to sustaining demand and inventory refilling.
A prominent voice of the auto and manufacturing sectors, the auto sector veteran always argued hard in favour of lower tax rates for the industry insisting that it could help add a large number of new jobs, and catch up with the US and China in terms of innovation and sales volumes.
“This strategy reflects the clear growth opportunities in the global light commercial vehicle (LCV) and bus electric vehicle market, which is projected to grow at a compounded annual growth rate (CAGR) of more than 25 per cent and to be worth in the region of $ 50 billion by 2030," said Dheeraj Hinduja, Chairman, Ashok Leyland.
The e-bus, which will incorporate Hitachi ABB Power Grids' innovative flash-charging technology - Grid-eMotion Flash, will be provided by Ashok Leyland, while IIT-M will host the infrastructure required to operate the flash-charging system for the e-bus, Hitachi ABB Power Grids in India said in a statement.
So, what's behind this new-found love for country roads? The second consecutive good monsoons have boosted rural incomes. And the automakers are doing their bit - an expanding service network that's underpinned by an attractive financing infrastructure.