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India's EV penetration crosses 11% for first time as auto retail sales hit record in May
India's auto sales reached a record in May, growing 9.55 percent. Electric vehicle penetration surpassed 11 percent for the first time. Dealers reported more inquiries for fuel-efficient and green vehicles following fuel price hikes. Passenger vehicles and two-wheelers saw their best-ever May sales. The outlook for June remains cautiously optimistic, supported by monsoon progress and rural demand.
Indian retail auto sales rise 9.6% in May; dealers see monsoon-driven demand ahead
Indian auto retail sales grew 9.6 percent in May, overcoming heat and fuel price concerns. Passenger vehicles led the surge, with rural markets showing strong demand. Two-wheeler sales also increased. Dealers anticipate continued growth driven by monsoon progress and upcoming festivals. Electric vehicle adoption is rising across segments. The industry remains cautiously optimistic for the coming months.
Electric mobility key to long-term fight against air pollution: UNEP chief
A top UN official stresses electric mobility and mandatory vehicle emissions testing for long-term air pollution solutions. India's plan to phase out older commercial vehicles with cleaner alternatives is highlighted. Investment in clean public transport and cleaner cooking solutions is crucial. Addressing local pollution sources like construction dust and waste burning is also vital for a healthier future.
'Hero will benefit if fuel efficiency is top of mind': Hero MotoCorp CEO
Hero MotoCorp reports no domestic demand slump despite global challenges. The company is aggressively expanding its operations. CEO Harshavardhan Chitale expresses confidence in India's economic resilience. Hero MotoCorp is focusing on growing segments like scooters, premium motorcycles, and electric vehicles. Significant capital expenditure is planned for capacity expansion and new product launches in domestic and international markets.
BofA sees FY27 earnings growth slowing to 8.5%; capex outlook stays strong
Amish Shah, Head of India Research at Bank of America Global Research, said higher commodity prices, the West Asia conflict and rising inflation could put pressure on growth and earnings in the first half of FY27. However, he believes the government is unlikely to reduce capital expenditure despite fiscal concerns. Shah also highlighted long-term opportunities in sectors linked to energy security, electric vehicles, defence, AI investments and data centres.
Car sales sail smooth despite war woes; Auto cos log double-digit growth on Maruti, TaMo surge; two-wheeler & CVs also in fast lane
Indian car sales surged significantly in May. Maruti Suzuki and Tata Motors reported robust growth. Two-wheeler sales also saw double-digit increases. Despite global challenges, consumer demand remained strong. This positive trend extended to utility vehicles and electric vehicles. Farm equipment sales also performed well. The automotive sector shows resilience and continued momentum.
Ola Electric sees 23 pc growth in monthly registrations in May
Ola Electric saw a significant jump in vehicle registrations last month. May Sales increased by 23 percent compared to April. This growth outpaced the overall electric two-wheeler market. The company attributes this success to retail changes and better operations. Rising petrol prices are also encouraging more buyers to switch to electric vehicles. Ola Electric is focused on expanding electric vehicle adoption.
Nissan unit Jatco scraps EV powertrain plant plan in UK amid weak demand
Nissan's subsidiary Jatco has cancelled plans for electric vehicle powertrain manufacturing in Sunderland, Britain. This decision stems from lower than expected demand for Nissan's electric vehicles across Europe. The move follows Nissan's earlier announcement to reduce its global auto production plants. This impacts future manufacturing strategies for electric vehicle components in the UK.
Honda to drive in over 10 new models by 2030
Honda is set to introduce more than ten new models in India. This includes sports utility vehicles with petrol, hybrid, and electric powertrains. The company will launch its first electric vehicle in the latter half of the current financial year. Compact and mid-sized SUVs are also planned, with local manufacturing. India is a key market for Honda's future growth.
Honda to roll out over 10 new vehicles in India, including EVs and Hybrids
Honda is set to introduce more than ten new models in India. These will include petrol, hybrid, and electric sports utility vehicles. The company aims for accelerated growth in India, a key global market. Honda will also leverage its two-wheeler business to transition customers to passenger vehicles. New models will focus on sub-4 metre and midsize segments.
Challenging times for Indian auto even as long-term demand trends hold: Assocham's Nirmal Minda
India's automotive industry is facing the dual challenge of escalating costs and uncertainties in global trade. Yet, the future looks good with robust long-term demand and a significant pivot towards electric vehicles, says Assocham president Nirmal Minda.
Hindustan Copper to raise output by 30% as global demand zooms
Hindustan Copper aims for a significant production jump this fiscal year. This increase is driven by anticipated strong demand from AI data centers, electric vehicles, and power grid upgrades. Global copper markets are expected to remain tight with elevated prices. The company's output is projected to reach its best-ever levels.