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Base effect, fuel prices dent September passenger vehicles’ sales

The off-take of the sub-segment such as passenger cars dipped by 5.57 per cent during the month under review to 197,124 units.



Car Sale Down

New Delhi, Oct 13 : Unfavourable base effect, along with high fuel and interest costs dented the sales of domestic passenger vehicles in September 2018, data showed on Friday.

According to the data furnished by the Society of Indian Automobile Manufacturers (SIAM), sales of passenger vehicles — cars, utility vehicles and vans — declined by 5.61 per cent to 292,658 units from 310,041 units sold in the corresponding period of last year.

The off-take of the sub-segment such as passenger cars dipped by 5.57 per cent during the month under review to 197,124 units.

Similarly, utility vehicles’ sales edged-lower last month. The off-take was lower by 8.29 per cent during the month under review to 77,378 units.

However, sales of vans increased by 7.27 per cent to 18,156 units.

Similarly, sales of overall commercial vehicles zoomed. It rose by 24.14 per cent to 95,867 units in September. The segment is a key indicator of economic activity.

The data pointed-out that off-take of three-wheelers accelerated by 11.65 per cent to 69,066 units during the month.

In addition, overall sales of two-wheelers, which include scooters, motorcycles and mopeds, climbed by 4.12 per cent to 2,126,484 units.

As per the data, total sales of the Indian automobile sector rose by 3.72 per cent during September 2018 to 2,584,096 units across segments and categories.

The overall exports of vehicles across categories also edged higher by 17.05 per cent to 414,428 units.

“PV sales decline of 5.6 per cent YoY during September-2018 came on very high base of September-2017, when industry clocked its highest ever monthly wholesale dispatches of 3.1 lakh units,” said Ashish Modani, Assistant Vice President, Corporate Sector ratings, ICRA.

“Weaker Q2 sales in FY2019 was expected, given high base of last fiscal and delayed festive season in current fiscal. Volume should recover in subsequent months with onset of festive season; however, higher fuel prices remain a drag on customer sentiments.”

Sridhar V, Partner, Grant Thornton India said: “The commercial vehicles are still on a roll this September and the enablers have been the road infrastructure and state of the economy. CV’s have achieved the second highest volume in the last 30 months.”

“Two Wheelers have also shown a healthy growth and probably their best performance yet in the last 30 months with motorcycles sales doing well.”

“However, while passenger vehicles have shown a YoY decline the numbers remain healthy. The decline is only due to the highest number ever hit in September 2017 coupled with rise in fuel rates, interest rates and deferment of some buys on account of expectation of new introductions, updates and price cuts expected during the ensuing festival season.”


Emission case: NGT asks Volkswagen to deposit Rs 100 crore by tomorrow




New Delhi, Jan 17: National Green Tribunal (NGT) on Thursday asked carmaker Volkswagen to deposit Rs 100 crore by 5 PM tomorrow (January 18) in emission case.

If Volkswagen fails to pay the stipulated amount within 24 hours,
the Tribunal warned of punitive action including the arrest of carmaker’s country MD and seizure of all properties across India.

In November last year, the green panel had directed Volkswagen to deposit Rs 100 crore with the Central Pollution Control Board (CPCB) within a month for causing “serious environmental damage” by using a cheat device that lowered vehicular emissions only during tests.

The German auto major challenged the order in the Supreme Court but the court refused to put a stay on the Tribunal’s directive.

On Tuesday, a four-member committee constituted by the NGT in November, penalised Volkswagen Rs 171.34 crore for causing air pollution in Delhi becuase of excess nitrogen oxide emissions.


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Musk lays foundation of first Tesla plant in China



elon musk

Beijing, Jan 7: As the US-China trade talks began, electric car maker Tesla CEO Elon Musk on Monday laid the foundation of a Tesla Gigafactory in Shanghai — the first-ever outside the US — that is expected to produce 500,000 electric vehicles per year and double the production capacity of Tesla.

Musk attended the ground-breaking ceremony of Tesla Gigafactory with Shanghai Mayor Ying Yong.

“Aiming to finish initial construction this summer, start Model 3 production end of year & reach high volume production next year,” Musk tweeted earlier in the day, adding that “Shanghai Giga production of Model 3/Y will serve greater China region”.

“Shanghai Giga will produce affordable versions of 3/Y for greater China. All Model S/X & higher cost versions of Model 3/Y will still be built in US for WW market, incl China,” he further tweeted.

According to reports, the Tesla Gigafactory is the biggest foreign investment in Shanghai.

Tesla’s first Gigafactory in Nevada produces Model 3’s drive units and battery packs. The Shanghai Gigafactory is set to be equipped with production lines for both batteries and electric cars.

According to a report in, by producing its lower-end Model 3 and Model Y in Shanghai, Tesla would be able to price the vehicles very competitively in the country — regardless of the presence of a trade war between the US and China.

Bullish on his Chinese dream, Musk last July said he aims to invest long-term in the country and signed a preliminary agreement with the Shanghai government to build a Tesla Gigafactory.

Musk had earlier said that China’s progress in advanced infrastructure is “more than 100 times faster than the US”.

According to a CNN report on Monday, Tesla is forging ahead in China “at a tricky time for both the company and the country”.

“China’s slowing economy and its trade war with the United States have hit the auto industry hard, with companies including General Motors (GM), Ford, Jaguar Land Rover and Volkswagen all reporting a slide in sales recently”.

“Tesla’s own prices in China have fluctuated wildly, with the company slashing prices several times last year even after China increased tariffs on imported US vehicles,” the report added.

Tesla has also cut its US prices by $2,000 as the federal tax credit granted to its buyers gradually gets reduced and phased out.


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Tesla asks more employees to test new Autopilot hardware



San Francisco, Dec 28: Electric car company Tesla is looking for internal participants for its new Autopilot hardware, consisting of a new neural net computer that it claims would be the “world’s most advanced computer for autonomous driving”.

The company’s chief Elon Musk has sent an email to the staffers to find participants within the firm for the system’s beta testing period.

“Tesla needs a few hundred more internal participants in the full self-driving programme, which is about to accelerate significantly with the introduction of the Tesla designed neural net computer (known internally as Hardware 3). This has over 1,000 per cent more capability than HW2!,” the Electrek quoted Musk as saying late on Thursday.

Earlier this year, the Electric Vehicle (EV) maker reportedly sought hundreds of employees to test its full self-driving system and offered free Autopilot upgrades with new purchases.

“If you elect to participate in the programme and provide feedback for improvement to the Autopilot team, the $8,000 cost of FSD will be waived. This is on a first to purchase basis and will close as soon as we have enough participants. this is the last time the offer will be made,” Musk said.

The EV maker is expected to release improved Autopilot features via software updates and Tesla owners with the new hardware can expect more advanced autonomous features.


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