Automobile
Easing supply side constraints of semiconductors fuel March's PV sales' rise
Auto major Maruti Suzuki India on Friday reported a year-on-year rise in its total sales for March 2022 to 170,395 units from 167,014 units sold during the same period of the corresponding year. The company's total sales in the month include domestic sales of 137,658 units, 'sales to other OEMs' of 6,241 units and its highest ever monthly exports of 26,496 units.
India's shared mobility sector to see 15 cr users by 2025
Since the public transport infrastructure is woefully inadequate to meet the burgeoning demand of an increasingly mobile population looking for convenience and affordability, nearly five times growth is expected in the shared mobility market over the next few years, according to homegrown management consulting firm Redseer.
Global 5G mobile subscriptions to cross 4.39 billion by 2027
As the fifth generation technology witnesses great adoption, 5G mobile subscriptions globally are expected to cross 4.39 billion by 2027, a new report said on Tuesday. North-East Asia is likely to have the highest number of subscriptions of over 1 billion, with Central and Eastern Europe expected to record the least number of subscriptions at 230 million, according to data obtained by Stockapps.com.
Auto ancillary's FY23 revenue expected to grow at 10-15% YoY
Accordingly, the trend is supported by moderate growth of 5-9 per cent YoY in original equipment manufacturers' volumes and continued healthy exports. However, the FY23 growth is lower than the estimated at 20-25 per cent YoY rise in FY22, due to rising input cost. "Demand from the aftermarket is likely to provide a steady contribution," said India Ratings and Research (Ind-Ra).
Rural distress, high cost subdue India's February retail sales: FADA
Rural distress as well as high acquisition cost subdued India's February automobile retail sales on a year-on-year (YoY) basis, FADA said. Accordingly, data released by the Federation of Automobile Dealers Associations (FADA) showed a YoY fall of 9.21 per cent in overall automobile retail sales during the month under review.
War Casualty: Russia-Ukraine crisis to dent India's auto sector
India's automobile industry is expected to bear the brunt of lower supplies of components triggered by the ongoing Russia-Ukraine war. Besides, the industry is expected to face subdued consumer sentiment as OMCs are expected to raise domestic fuel prices in consonance with high crude cost. Notably, both the countries produce key raw materials which are used in components that are key to producing automobiles such as semiconductors.
Microchip shortage, high cost subdues auto sector's Feb sales
On Tuesday, auto major Maruti Suzuki India reported that its total sales last month inched lower on a year-on-year basis to 1,64,056 units from 1,64,469 units sold during the same period of the corresponding year. Domestic sales were at 1,37,607 units, and sales to other original equipment manufacturers stood at 2,428 units.
China-backed Pak being set up as challenger to India in auto components, textiles
"Of course, some may argue that there is still a considerable gap between India and Pakistan in terms of manufacturing strength, but with the improved BRI connectivity as well as the steadily growing investments by Chinese companies in Pakistan, the South Asian nation is well poised for a rapid facelift," the Global Times said in a report.
India rejects Tesla's call for tax benefits: Report
"We looked at whether the duties need to be re-jigged, but some domestic production is happening and some investments have come in with the current tariff structure," Vivek Johri, Chairman of the Central Board of Indirect Taxes and Customs (CBIC), was quoted as saying in an interview with Bloomberg. "So, it is clear that this is not a hindrance," Johri added. Prime Minister Narendra Modi's administration has encouraged Tesla to produce locally, while Musk wants India to lower taxes.
Third Covid wave, microchip shortage dented auto sector's Jan sales: Experts
"On account of Covid-19, sluggish rural sentiments due to crop loss because of untimely rains impacted realisations the sales of 2 wheelers and tractors which have been under pressure and both these segments are still saddled with higher inventory on the dealer front leading to sluggishness in offtake for these segments. In case of premium motorcycles demand is reasonable but chip shortage is limiting growth," said Hemal Thakkar, Director, Crisil Research.
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