Scv Segment News Today

Hero MotoCorp: However, factors such as incremental volume from the premium bike segment, strong product lineup, and improving demand for entry-level bikes may help the countrys largest bike maker in mitigating the margin pressure from the EV segment and retain its outperformance on bourses. The stock has gained over 50% in the past three months, outperforming the 18% return of the ET Automobiles index.

This increase will be effective February 1, 2024 and is being taken to partially offset the rise in input costs. Earlier, Tata Motors announced that it will increase the price of its commercial vehicles effective 1st January, 2024, by up to 3%.

Mahindra & Mahindra expects to maintain growth in the small commercial vehicles segment next fiscal year by continuously refreshing its range according to customer needs. The company recently introduced the new Supro Profit Truck Excel series, available in diesel and CNG Duo variants, and priced between Rs 6.61 lakh and Rs 6.93 lakh. The company plans to introduce air conditioning to its pick-up range in the near future.

Mahindra CV Growth: "This launch marks a significant stride in the sub-2-tonne segment, showcasing our commitment to empowering businesses and transforming last-mile connectivity in India," M&M CEO, automotive division, Nalinikanth Gollagunta, said.

India UK FTA: Indias Commerce Secretary, Sunil Barthwal, has said that countries negotiating free trade agreements (FTAs) with India are looking to gain a greater share in the countrys rapidly growing automobile sector. The industry has strengthened in various areas, including auto-grade steel, components, and tires, and is now shifting from conventional internal combustion engines to electric vehicle (EV) battery-based systems.

Marking a significant milestone in the EV segment, Creatara redefines urban travel by combining safety, customization, and advanced technology, the company said.

Pre-owned Car Market: The pre-owned car industry, which stayed strong despite challenges in FY22, saw a significant 14-16% growth in FY23. This growth was driven by factors like the market reopening, a growing preference for personal mobility, and rise in disposable incomes. The industry is expected to grow at a rate of 15% in FY24.

Revolt Motors: RattanIndia Enterprises Business Chairperson Anjali Rattan said the company is expanding to ensure that the electric revolution reaches every corner of the country. "Revolt had only 25 dealerships when we did the acquisition. Right now we are almost at 100... in one year we want to have 500 dealerships in India," she said.

MG Motor India partners with gaming legend MortaL to launch the Comet EV 'Gamer Edition,' a tech-savvy customized car for adrenaline-seeking Gen Z gamers.

Apart from the lagged benefit of softening commodity costs, margins are likely to see tailwinds from operating leverage and a richer product mix.