Two wheelers & three wheelers
Auto industry body seeks cut in two-wheeler GST; SIAM suggests three-level slabs based on fuel types
Society of Indian Automobile Manufacturers (Siam) has requested a reduction in GST rates on two-wheelers in India. They proposed different slabs for different types of two-wheelers to lower the rates. Siam also wants the removal of the 3% cess on high cubic capacity bikes.
HMSI posts 45 per cent jump in domestic sales in May
Honda Motorcycle and Scooter India sold 4,50,589 units in India in May, 45 per cent higher than 3,11,144 units dispatched in May 2023. Exports increased to 41,458 units in May from 18,248 units in the year ago period. Total sales last month rose to 4,92,047 units from 3,29,393 units sold in May 2023.
Bajaj Auto total sales flat at 3.55 lakh units in May
Bajaj Auto's sales remained flat at 3,55,323 units in May. The automaker had sold 3,55,148 units in May 2023. Total domestic sales declined 1 per cent to 2,25,087 units in May from 2,28,401 units sold in the year-ago period. Exports rose 3 per cent at 1,30,236 last month from 1,26,747 previous May.
May 2024, saw marginal decline in domestic 2-wheeler sales, exports however were up
India's two-wheeler sales experienced a marginal decline in May 2024 compared to the previous year, with major manufacturers like Hero MotoCorp, Bajaj Auto, and Eicher Motors reporting declines. Hero MotoCorp sold 498,123 units, while Bajaj Auto sold 305,482 units. Eicher Motors sold 71,010 units, 8% lower than the previous year. However, all three companies reported growth in exports, with Eicher Motors exports growing by 12%.
Bharatendu Kabi rides out of Hero MotoCorp after 20-year stint
Bharatendu Kabi, former Communication and CSR Head at Hero MotoCorp, is leaving the company after nearly two decades of service. Hero MotoCorp CEO Niranjan Gupta praised Kabi's strategic guidance, engagements with sports associations, and Corporate Social Responsibility initiatives. Kabi will leave on July 31st, after serving his notice period.
After X-440, Hero and Harley-Davidson may bring more US models to India
Hero MotoCorp and Harley-Davidson Inc are expanding their India partnership. Hero is the third-largest seller in the premium segment after Bajaj Auto and Royal Enfield. Niranjan Gupta, CEO of Hero MotoCorp, highlights the growing market for roadsters.
TVS Motor rolls out black edition of TVS Apache RTR 160 series at Rs 1.09 lakh
TVS Motor launches 'A Blaze of Black' Dark edition of TVS Apache 160 RTR at Rs 1,09,990. Vimal Sumbly, Head Business-Premium, emphasizes the brand's 5.5 million global enthusiasts.
Strong sales growth for entry-level two-wheelers in H2 of FY24; big relief for automakers
The trend continued in April, driven by an improvement in income levels thanks to healthy economic growth, making the automobile industry bullish of a sustained recovery in the twowheeler segment and sparking green shoots of recovery in small car sales.
Two-wheeler makers ride high on record sales of branded spare parts
Royal Enfield, Bajaj Auto, and Hero MotoCorp saw record revenue in FY24 from branded parts and accessories sales, driven by a preference for branded spares. Revenue growth was boosted by premium models like Xpulse and Splendor motorcycles. Hero MotoCorp plans to expand its Global Parts Centre to capitalize on the growing market.
TVS Motor Co starts operations in Italy
TVS Motor Company Ltd has launched operations in Italy through TVS Motor Italia, offering a range of conventional and electric scooters and motorcycles. The branch is led by Giovanni Notarbartolo di Furnari, bringing extensive automotive experience. The move aligns with TVS's global ambitions, with plans to introduce products like the TVS Apache 310 Series, Ronin 250, Raider, NTorq, Jupiter 125, iQube, and X. Additionally, e-bikes from Cilo, EGO Movement, Simpel, and EBCO will be offered, showcasing TVS's confidence in the Italian market.
TVS Motor launches new variant of iQube priced at Rs 94,999
TVS Motor Company launched a new variant of the TVS iQube with a 2.2 kWh battery priced at Rs 94,999 (Bengaluru ex-showroom). The new model has a top speed of 75 kmph, 950W charger, and two-hour charging time. The vehicle includes a 5-inch color TFT screen, various alerts and navigation, and 30-liter storage. Additionally, the TVS iQube ST with 3.4 kWh and 5.1 kWh variants is now available for delivery nationwide.
Bikes will retake pre-covid peak in two years: TVS
Two-wheeler sales in India are expected to surpass pre-Covid peak this fiscal year or next, according to Sudarshan Venu, managing director at TVS Motor Company. The Indian economy is in a "good situation" with inflation under control, which will drive consumption going forward. TVS Motor is planning to launch multiple products to grow faster than the market, including a slew of electric vehicles (EVs) at varied price points to cater to diverse customers.
TVS Motor Co expects 25-30% of 2-wheeler sales to come from EVs: MD Sudarshan Venu
TVS Motor Company is expecting electric vehicles (EVs) to account for 25-30% of its total two-wheeler sales in the next two to three years, according to Managing Director Sudarshan Venu. The company plans to invest Rs 5,000 crore in the design, development, and deployment of future technologies, products, and digital capabilities. In FY24, EV sales grew by 101 per cent, reaching 1.94 lakh units. TVS plans to introduce another electric scooter this year, and its EV presence will be across both scooters and motorcycle segments.
Hero Moto to make 'big strides' in FY25 through EV product launches in mid & affordable segment
Hero MotoCorp announced plans to introduce electric variants in the mid and affordable segments, expressing optimism for the year ahead. CEO Niranjan Gupta highlighted upcoming product launches, including Xoom scooters, in the ongoing fiscal year. The company anticipates industry growth supported by stable commodity prices, a normal monsoon, and increased government spending.
Bajaj to launch first CNG-powered motorcycle on June 18, reveals MD Rajiv Bajaj
Rajiv Bajaj unveiled plans for Bajaj Auto's first CNG motorcycle on June 18, 2024, challenging Hero MotoCorp's dominance in the entry-level segment. The bi-fuel bike will run on CNG and petrol, with details like trademarked names still undisclosed.
'Over-regulation of the market': Rajiv Bajaj says taxes are too high on 2-wheelers as prices rise
Rajiv Bajaj at the launch of the new Pulsar criticized the high prices of two-wheelers, attributing them to excessive regulation. While acknowledging the benefits of norms like BS-VI, he urged the government to lower the GST rate on these vehicles, comparing it unfavorably to rates in other countries. Bajaj advocated for a GST rate of 12-18%.