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Carmakers raise FY24 sales growth projection to 8.2%

India's car industry has revised its growth projections to over 8%, driven by strong passenger vehicle sales and domestic consumption. The industry remains optimistic about growth, supported by low-interest rates, controlled inflation, and a fast-growing economy. Moody's raised its GDP growth forecast for India to 8% from 6.6%.

India , China , New-delhi , Delhi , Ashish-gupta , El-nino , Tarun-garg , Maruti-suzuki , Shashank-srivastava , Moody , Hyundai-motor-india , Passenger-cars-india

auto loan rates: Upbeat on demand, car cos revise forecast upwards again

India's car industry has revised its growth projections for the fiscal year to over 8%, nearly twice the rate projected at the start of the year. Passenger vehicle sales in the local market are expected to grow by 8.1-8.2% to 4.23 million units in FY24, driven by better-than-expected economic growth, favorable monsoons despite El Nino conditions, and effective monetary policies that helped rein in high inflation without affecting domestic consumption.

China , India , Ashish-gupta , El-nino , Tarun-garg , Maruti-suzuki , Shashank-srivastava , Moody , Hyundai-motor-india , Passenger-cars-india , Reserve-bank , Auto-loan-rates

Luxury buyers move from diesel to electric

The share of diesel in total sales of luxury vehicles in the local market declined to 35% last year, from about 80% five years, even as buyers continued to shift to feature-rich SUVs.

Germany , Pune , Maharashtra , India , Santosh-iyer , Vikram-pawah , Balbir-singh-dhillon , Group-india , Bmw , Mercedes-benz , Mercedes-benz-india , Singh-dhillon

World Business Report

is ticking upwards again? there was an expectation that the december rating would be higher than novemberfor the december rating would be higher than november for the headline december rating would be higher than novemberfor the headline rate and it is really more of a technicality because of the base effect of the measures so we had the removal of some of the energy release schemes coming out of that number so that is why you saw the headline number increase. if you look at core inflation that actually did come down so that is the bit that really matters for most people, the basket of goods we spend on everyday and it came down from 3:63.4. but you're right, the current sentiment towards the headline number is still fairly jittery. the markets are focused on whether 2024 will be the year when inflation comes under control in the eurozone and other developed markets. the uk car industry is calling on the government to cut vat on electric cars after new data shows that their share of sales didn't change at all last year. while car sales overall

Expectation , December-rating , Energy-release-schemes , Some , Ticking , Headline-rate , Technicality , Base-effect , Measures , Removal , Novemberfor , Headline-december-rating

China's BYD replaces Tesla as world's top electric vehicle maker

China's electric vehicle producer BYD unseated Elon Musk's Tesla, according to latest statistics released Tuesday. The U.S.-based car...

China , Chinese , Elon-musk , Electric-vehicle , Byd , Tesla , Car-industry ,

Toyota's Daihatsu to stop all car shipments over safety tests scandal

Toyota subsidiary Daihatsu on Wednesday said it will halt shipments of all its car models in Japan and overseas, following news it had rigged safety...

Japan , Thailand , Malaysia , Makoto-kaiami , Soichiro-okudaira , Toyota , Chair-makoto-kaiami , Toyota-raize , Osaka-based-daihatsu , Automotive-industry , Daihatsu , Car-industry

Don't promote SUV sale: Global NCAP chief

India should avoid promoting the sale of SUVs due to the serious risks they pose to pedestrians. SUVs have higher bonnet or hood heights, increasing t

India , United-states , Stockholm , Sweden , Faridabad , Haryana , Nhan-tran , David-wardsaid , World-health-organisation , Safety-initiative , Traffic-safety-administration , Global-road-safety-initiative

Tesla reportedly to build affordable EVs at its plant in Germany

The U.S. electric carmaker Tesla plans to build a 25,000-euro ($26,837) car at its factory near the German capital Berlin, a source with knowledge of the...

Berlin , Germany , German , Elon-musk , Twitter , Automotive-production , Electric-vehicle , Tesla , Tesla-gigafactory , Car-industry , Ev-vehicles ,

Car dispatches up 16% at record 3.9 lakh units in October

India News: The car industry in India is experiencing a strong demand during the festive season, with carmakers and two-wheeler companies recording high dispatche

New-delhi , Delhi , India , Hyundai , Mahindra , Toyota , While-maruti , Honda-cars , Ndia-news , Ndia-news-today , Oday-news

Car Industry: Car dispatches up 16% at record 3.9 lakh units in October

The car industry in India is experiencing a strong demand during the festive season, with carmakers and two-wheeler companies recording high dispatche

India , Maruti-suzuki , Shashank-srivastava , Tarun-garg , Suzuki , Hyundai-india , Hero-moto , Royal-enfield , Veejay-nakra , Strong-demand , Record-units , Festive-fervour