Sales of passenger vehicles, including cars and SUVs, also rose to their highest monthly level of 3.93 lakh units in October, showing a growth of 0.9 per cent from the high base figure of 3.9 lakh units in October 2023.

SIAM Director General Rajesh Menon said, “October 2024 had two major festivals, Dussehra and Diwali, both falling in the same month, which led to high consumer demand. This gave a significant boost to the performance of the auto industry.”

Passenger vehicles (PVs) recorded their highest ever sales of 3.93 lakh units in October 2024, up 0.9 per cent on the high base of last October.

This high growth was also reflected in the ‘Vahan’ vehicle registration data, which saw registrations of both passenger vehicles and two-wheelers increase by over 30 per cent in October 2024 compared to October 2023.

According to Menon, however, three-wheeler sales declined marginally by 0.7 per cent as compared to October last year. This sale stood at 0.77 lakh units in October 2024. Registrations grew by 11 per cent compared to last October.

Market analysts believe that the increase in two-wheeler sales can be attributed to the rise in rural incomes as crop yields improved due to normal monsoon this year, resulting in increased income in the agricultural sector.

The increase in the minimum support price of various crops by the government has also increased the income of farmers, which has led to more expenditure on consumer goods by rural households.

This was also seen in India’s fast moving consumer goods (FMCG) sector, where consumption in rural areas has grown faster than in urban areas.

According to the NielsenIQ survey, FMCG goods sales grew 5.7 per cent in value and 4.1 per cent in volume in the July-September quarter this year, led by rural demand for the third consecutive quarter. Not only this, it grew faster than urban markets.

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Earlier, the Rs 21,000 crore IPO of Life Insurance Corporation of India (LIC) in 2022 was the largest IPO in the country. According to the information given by the company, the IPO will be open for retail investors from October 15 to October 17. Its price band has been fixed from Rs 1,865 to Rs 1,960 per share.

One lot of Hyundai Motor India will have seven shares. This entire IPO will be an Offer for Sale (OFS). Meaning, all the money raised through this IPO will go to the investors or promoters of the company.

Hyundai Motor India is the second largest car company in the country after Maruti Suzuki India. The company’s market share was 24 percent in June 2024. In the last financial year, the company sold 7.77 lakh vehicles, out of which 21 percent were exported to countries like Africa, Middle East, Europe and Latin America.

The company has 1,377 sales outlets and 1,561 service outlets in the country. Hyundai Motor India’s income in the financial year 2023-24 was Rs 69,829 crore. During this period, the company had a profit of Rs 6,060 crore and the company’s margin was 13.1 percent.

In the first quarter of FY 2024-25, the company’s income was Rs 17,344 crore. During this period, the company had a profit of Rs 1,489 crore and the margin was 13.5 percent.

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Both Korean auto companies sold 91,348 electric vehicles from January to September. During this period, EV sales have registered a jump of 30.3 percent compared to the same period last year.

According to a report by South Korean news agency Yonhap, Hyundai’s EV sales grew 4.5 percent year-on-year to 48,297 units. During this period, Kia’s EV sales have jumped 80.3 percent to 43,051 units.

Market experts believe that by the end of this month, the sales figure of both the companies can cross 1,00,000 units. At the same time, this figure is expected to be 1,20,000 units by the end of 2024.

A few days ago, Hyundai Motors India announced that they are planning to expand their EV portfolio in the premium segment along with the normal. The company may launch the EV version of its popular SUV Creta in the fourth quarter of the current financial year. Apart from this, there is a plan to launch four new EV cars in the next few years.

Hyundai Motor India is going to bring its IPO on October 15 to raise Rs 27,870 crore.

Hyundai Motor India Managing Director Unsoo Kim said in a road show ahead of the company’s initial public offering (IPO), “India’s EV market is still in the early stages of development. We expect strong growth in India’s EV segment by 2030.”

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The tech billionaire unveiled the prototype of the EV company’s fully driverless vehicle during the Robotaxi event. It has been named ‘We, Robot’ in the US. Along with this, future vehicles were also showcased, including an electric van.

The Cybercab is a vehicle that does not come with a steering wheel and pedals. It is designed for the purpose of autonomous vehicle. The doors of this vehicle open upwards like the wings of butterflies. This special vehicle has a small cabin and there is enough space for two people inside.

It looks similar to Cybertruck. This vehicle does not have the facility of a plug-in charger, instead inductive charging is provided. According to the owner of Tesla, it works like wireless charging.

Musk says that this new car is 10-20 times safer than the old existing cars.

The company also demonstrated a new “Robovan” transport vehicle, which can be configured as a “mass transit” or cargo carrier.

With the production of Cybercab by the year 2026, Tesla aims to start fully automated driving in Texas and California by next year.

Tesla is also developing the Optimus robot, which can be available for $ 20,000-30,000 and is capable of performing various tasks. Musk said, “This is a big deal. It will save a lot of lives and prevent injuries.”

“Think about how much time people spend in their cars and how much time they get back that they can spend reading their books, watching movies, working or doing other things,” Musk told attendees at the event held at Warner Bros Studios.

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The Office of the Principal Scientific Adviser to the Government met a delegation from the European Union, highlighting India and the EU’s shared commitment to innovation, sustainability and transformation of the economy.

It included representatives of startups in the field of battery recycling technologies from EU Member States, officials of the EU Delegation to India and members of select Indian startups.

Professor Ajay Kumar Sood, Principal Scientific Adviser to the Government, said the collaboration “creates new opportunities for technology transfer, market access and co-development. This is essential to promote economic resilience and sustainable growth.”

The meeting was held under the India-EU Trade and Technology Council (TTC) Working Group 2 (WG2) in the national capital.

Dr Iva Suvara, Deputy Head of the EU Delegation to India said through the support of the Trade and Technology Council “we are able to support EU and Indian startups to unite, be leaders in innovation, foster business collaboration and bring cutting-edge technologies to market.”

The meeting focused on the progress made in promoting collaboration between Indian and European startups in the critical area of ​​EV battery recycling technologies.

The participating startups from India included BatX Energies, Evergreen Lithium Recycling, LW3 Pvt Ltd and Lohum, while the EU startups included Ecomet Refining and Eneris.

The India-EU TTC was announced by European Commission President Ursula von der Leyen and Prime Minister Narendra Modi in April 2022. It was established in February 2023. This mechanism enables both sides to address challenges in the areas of trade, reliable technology and security.

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The country’s automobile companies are constantly making good products. At the same time, due to a large population of the world being here, their sales are increasing rapidly in the country, but they are also being exported outside. Along with road infrastructure, the new budget friendly models of vehicles that have come into the market, whose demand is increasing day by day, are playing a parallel role in the development of the country.

In the last few years, the production and sale of all types of vehicles has increased in the country. These include commercial, private, two-wheelers and four-wheelers. But, today we are going to talk about the sale of two-wheelers, which are present in most of the houses of the middle class, the most populous in the country. Its demand has increased significantly in the last few years. We will talk about the sales of the top-5 two-wheelers, which have the highest market share.

According to the latest data from the Society of Indian Automobile Manufacturers (SIAM), Hero Splendor Plus was the most sold in June this year. Its 2,84,190 units were sold this month, which is a jump of 33.9 percent compared to last year and 2.6 percent more than May.

Honda Shine 125cc bike is at number two in the list, which sold 1,39,587 units in June 2024. This is 40.6 percent more than last year and 9.9 percent more than last month.

Hero HF Deluxe has managed to make it to the top three with sales of 89,941 units. This is 0.7 percent more than last year and 3.2 percent more than last month.

Bajaj Pulsar 125cc sales have declined, down 5.2 per cent from last year and 14.1 per cent from last month.

Bajaj Platina managed to make it to the top file with 33,101 units sold, down 9.4 per cent from last year and up 9.46 per cent from last month.

–IANS

SCH/CBT

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The special thing about this scheme is that after the Certificate of Deposit (COD) is issued, it will be valid for the next three years. The Delhi government will now give exemption on ‘Motor Vehicle Tax’ to the people of Delhi on the purchase of new vehicles on scrapping their old vehicles.

This scheme has been approved by Chief Minister Atishi and it will also be notified very soon. Under this scheme, people will get exemption in Motor Vehicle Tax on depositing the ‘Certificate of Deposit’ (COD) of the old scrapped vehicle in the registered vehicle scrapping facility during the registration of new commercial and non-commercial vehicles.

Under this scheme, there will be a 20 percent discount on motor vehicle tax on registration of new non-transport petrol, CNG, LPG driven vehicles and 15 percent discount for such diesel driven vehicles.

Petrol, CNG, LPG driven vehicles used in transport (commercial) will be given a 15 percent discount on motor vehicle tax and 10 percent discount for such new diesel driven vehicles.

It is worth mentioning that the ‘Certificate of Deposit’ (COD) will be valid for three years after its issuance. After this scheme, people in Delhi will have a lot of convenience in scrapping old vehicles and getting new vehicles. They will also get a good discount.

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Kia will assemble the K4 compact at its plant in Mexico and sell it to customers in the United States and Canada during the second half of this year, Yonhap news agency quoted a company spokesperson as saying.

The report said that ‘K4’ will be available in two versions. One model will come with a 2.0-liter gasoline engine and the other with a 1.6-liter gasoline turbocharged engine.

The spokesperson said the model will not be imported into Korea.

Kia said it will introduce dozens of models, including the K4, EV6 and EV9 all-electric cars and the Telluride SUV, during the motor show from March 29 to April 7.

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Tesla CEO Elon Musk informed his followers that the Tesla Roadster is now completely open source.

“All of the design and engineering of the Tesla Roadster is now completely open source,” the tech billionaire said.

“Everything we have, you now have,” Musk said of the 15-year-old Roadster.

A follower asked him if this meant he could build his own roadster in his garage.

Musk responded, “It requires some assembly”.

The Roadster page includes service, parts, and owner’s manuals, wiring schematics, and R&D documentation on the car’s battery monitor board, vehicle display system, and HVAC controller.

Tesla open-sourced all of its patents in 2015. The original Tesla Roadster has been no longer in production for over a decade.

As Electrek reports, Tesla produced just over 2,000 units of the Roadster, and many of them were destroyed in accidents and a very unfortunate fire at a garage in Arizona.

“The information provided is courtesy of Roadster enthusiasts,” Autonecker said. This is not a manufacturer reference or repair and maintenance material and may not accurately reflect actual production models or parts sold.”

“You also understand that if you create or design parts or create new repairs or procedures based on this information, we will not be responsible for them and they will not be genuine Tesla parts or accessories or Tesla-approved procedures. ”
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